Tuesday, January 25, 2022

US golf apparel, footwear and accessories market to record 3.95% year-on-year growth in 2021

  • Total Pages: 120
  • Companies: 10+ – including Acushnet Holdings Corp., adidas AG, Bridgestone Corp., Callaway Golf Co., Mizuno Corp., Nike Inc., PUMA SE, Ralph Lauren Corp., Under Armor Inc., and VF Corp. including others.
  • Coverage: Key drivers, trends, and challenges; product insights and news; value chain analysis; basic market analysis; vendor landscape; COVID impact and recovery analysis
  • Section: End Users (Men, Women & Children) and Distribution Channels (Offline & Online)

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According to Technavio’s recent market study, Golf Apparel, Footwear & Accessories Market in the US Apparel, Accessories & Luxury Goods Industry Share is expected to grow by USD 1.12 billion From 2020 to 2025, with an accelerated CAGR of 5.03%. The report provides a detailed analysis of drivers and opportunities, top winning strategies, competitive landscape, future market trends, market size and projections and key investment wallets.

The vendors of the golf apparel, footwear and accessories market should focus on grabbing business opportunities from the male segment as it accounted for the largest market share in the base year under the end user category. Also, the offline channel will hold the maximum share under the distribution channel category.

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Seller Insight-
The golf apparel, footwear and accessories market in the US is fragmented and vendors are focusing on launching new products with innovative designs and technology to compete in the market.

Acushnet Holdings Corp.- The company offers a wide range of golf apparel, footwear and accessories through its Footjoy brand.

Adidas AG- The company offers a wide range of golf apparel, footwear and accessories such as boots, T-shirts and shorts.

Bridgestone Corporation- The company offers a wide range of golf apparel, footwear and accessories such as hats, T-shirts, hats and boots.

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Market Segmentation by End-User Outlook
The growth in the golf apparel, footwear & accessories market share by men segment in the US will be significant during the forecast period. Men accounted for the largest share of the golf apparel, footwear and accessories market in the US in 2020. The majority of participants in golf as a regular sport and in tournaments are men. In addition, male golfers age 65 and older play golf more often than female golfers of the same age group. For example, in the US, the number of golfers aged 65 and over (including men and women) increased to 5.3 million in 2019. The growing baby boomer population in the US and high consumer spending will fuel demand. Golf apparel, footwear and accessories in the men’s category.

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Latest drivers and trends driving the market-

  • Golf Apparel, Footwear & Accessories Market in the US Drivers:
    • Increasing number of new product launches:

Vendors are focusing on developing new golf apparel, footwear and accessories that not only have unique designs but can also provide greater comfort to wearers. Marketers are expanding their product portfolio with the aim of increasing their sales. They are launching new products with innovative styles to enhance the comfort of the users. New product launches and expansion of existing product lines are some of the most preferred marketing strategies adopted by sellers in the market to gain more market share and maintain their existing market shares. With the increasing number of product launches and adoption of these products among the customers, the market is expected to grow significantly during the forecast period.

  • Golf Apparel, Footwear & Accessories Market in the US Trends:
    • Increase in M&A Activities:

Vendors are adopting organic and inorganic growth strategies to strengthen their market presence in the US Golf Apparel, Footwear & Accessories market, which will accelerate the market growth during the forecast period. Business strategies for product development and commercialization provide vendors with many benefits, such as cost control, expanded product lines, and broad geographic reach.
Vendors are engaged in M&A activities to expand their product portfolio and strengthen their business. Major vendors in the market are acquiring local companies in the golf apparel, footwear and accessories market. Such acquisitions are aimed at strengthening their distribution network and thereby their market position in the golf apparel, footwear and accessories market in the US. The concept of advertising campaigns featuring famous players is a traditional but successful marketing strategy adopted by well-established golf apparel manufacturers. Customization of golf products like golf shoes and accessories is another important strategy adopted by vendors in the market.

Find out more about various other market drivers and trends mentioned in our free sample report,

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Golf Apparel, Shoes, and Accessories Market in US Scope

report coverage

Description

page number

120

base year

2020

forecast period

2021-2025

Growth pace and CAGR

Accelerating at a CAGR of 5.03%

Market Growth 2021-2025

$1.12 billion

market structure

fragmented

Year-on-Year Growth (%)

3.95

regional analysis

America and the rest of North America

performance market contribution

US at 100%

major consumer countries

we

competitive landscape

Leading Companies, Competitive Strategies, Scope of Consumer Engagement

Profiled companies

Acushnet Holdings Corp., adidas AG, Bridgestone Corp., Callaway Golf Co., Mizuno Corp., Nike Inc., PUMA SE, Ralph Lauren Corp., Under Armor Inc., and VF Corp.

market dynamics

Basic market analysis, market growth indicators and constraints, fast growing and slow growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period,

range of customization

If our reports don’t include the data you’re looking for, you can contact our analysts and get the segments customized.

about us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market position. With over 500 specialized analysts, Technavio’s report library includes enterprises of all sizes, including more than 100 Fortune 500 companies in their client base. This growing client base relies on Technavio’s extensive coverage, extensive research and actionable market insights to identify opportunities in existing and potential markets and assess their competitive position within changing market scenarios.

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Technavio Research
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UK: +44 203 893 3200
E-mail: [email protected]
Website: www.technavio.com/

source technavio

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