Yahoo Finance Global Golf clothing market to reach $1.55 billion by 2030: Allied Market Research
Emergence of trend of golf tourism, surge in fitness consciousness among consumers, and trend for fashionable sports apparel drive the growth of the global golf clothing market. North America contributed to the highest share in terms of revenue in 2020, and is estimated to maintain its lead position by 2030. Manufacturing activities of golf clothing halted due to lockdown implementations across various countries during the Covid-19 pandemic.
Portland, PR, Aug. 04, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global golf clothing market generated $834.1 million in 2020, and is expected to reach $1.55 billion by 2030, witnessing a CAGR of 6.0% from 2021 to 2030. The report provides a detailed analysis of key investment pockets, top segments, regional scenario, value chain, and competitive landscape.
Emergence of trend of golf tourism, surge in fitness consciousness among consumers, and trend for fashionable sports apparel drive the growth of the global golf clothing market. However, adoption of alternative leisure activities and rise in proclivity of kids in indoor leisure activities restrain the market growth. On the other hand, rapid rise of online retail platform presents new opportunities in the coming years.
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Covid-19 Scenario:
Manufacturing activities of golf clothing halted due to lockdown implementations across various countries. Moreover, supply chain disruptions and raw material shortage occurred.
Many golf tournaments were cancelled or postponed due to Covid-19 pandemic to curb the spread of inflection due to gathering of people. This reduced the demand for golf clothing.
The ban on import-export activities led to supply-demand gap. As the restrictions are lifted off, the supply chain is expected to be restored and the distribution is estimated to continue with optimum capacity.
The report offers detailed segmentation of the global golf clothing market based on product type, end user, distribution channel and region.
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Based on product type, the top wear segment accounted for the highest share in 2020, contributing to nearly three-fifths of the total share, and is estimated to maintain its dominant share during the forecast period. However, the bottom wear segment is projected to portray the highest CAGR of 6.7% from 2021 to 2030.
Based on end user, the men segment held the highest market share in 2020, contributing to more than half of the global golf clothing market, and is expected to maintain its leadership status during the forecast period. However, the women segment is estimated to witness the fastest CAGR of 7.2% from 2021 to 2030.
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Based on region, North America contributed to the highest share in terms of revenue in 2020, accounting for nearly two-fifths of the total share, and is estimated to maintain its lead position by 2030. However, Asia-Pacific is expected to manifest the largest CAGR of 9.4% during the forecast period.
Leading players of the global golf clothing market analyzed in the research include Adidas AG, Callaway Apparel, Antigua Group, Inc., Nike, Inc., Linksoul, Ping TaylorMade Golf Company, Inc., Puma Inc., William Murray Golf, and Under Armour, Inc.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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