Golf Ball Market Analysis Report By Product, By Application, By Region And Segment Forecasts From 2018 To 2025

Industry Insights

The global golf ball market size was accounted for USD 1.11 billion in 2017. It is projected to grow at a CAGR of 2.7% over the forecasted period, 2018 to 2025. Growing endorsement for golf tourism along with rising income levels are mainly driving the market growth. Government authorities across the globe are organizing workshops, golf courses, and tournaments for encouraging tourism, which is projected to foster market growth.

Furthermore, technological developments are anticipated to positively impact market growth. For example, Seamless cover technology helps to form non-uniform joints around the golf ball. These balls have less aerodynamic drag and offer greater accuracy. All these benefits help golfers to take longer shots with minimal spin.

In addition, Golf sports represent competition besides recreational or entertainment activity. Various emerging countries host golfing events to attract domestic and international tourists. Thus, improved sports favorability is expected to proliferate the demand for the product.

However, the market has seen a decline in the adoption of golf sport across countries like the U.S., Canada, and European countries. This decline is due to diminishing interest among young adults as the golf sport requires a longer duration of time to complete a single game. These factors may hamper market growth.

Product Insights

Based on the product, the golf ball market is fragmented into 2-piece, 3-piece, and 4-piece. In 2017, the 4-piece type segment accounted for USD 500 million in the overall market. Professional golfers prefer this type of product due to its benefits like less spin, and high stability. Moreover, 4-piece type products are costlier than 2-piece type.            

The 2-piece type segment is projected to grow at the highest CAGR in the coming years. These balls are the most affordable type compared to the other ones. Amateur golfers demand the 2-piece type over the other types mentioned in this report.

Application Insights

Increasing income levels especially among the middle-class age group are primarily driving the growth of golf sport. Moreover, significant government investment in building golf courses is also promoting the growth of golf among tourists. Various hotels and resort owners organize trips and holidays to attract consumers, which is projected to bolster the market growth.

A junior golfer constitutes around 9.0% of the total global travelers, which has created a niche market for leisure golf sports. Thus, the leisure application type segment is anticipated to propel at a significant rate over the next few years.

In 2017, the professional golf application segment led the market and is estimated to be USD 800 million by the end of 2025. Significant investments by the government, investors, and other organizations are supporting the segmental growth. Different golf associations are hosting various golf events to promote the game of sport. For example, in 2017, the LGPA USGA girls golf program has foreseen 70,000+ enrollments for participation.

These initiatives across the globe are popularizing the game of golf. Some of the popular golf tournaments are the Masters, U.S. Open, and PGA Tour.

Regional Insights

In 2017, North America led the golf ball market with the highest market share of more than 35.0% in the overall market. The region includes 13,000 public and 4,000 private clubs offering golf facilities. A key player in the market includes Dixon Golf, Bridgestone Golf, Callaway Golf Company, and Nike, Inc. Europe is projected to grow at a significant rate over the next few years.

Asia Pacific is projected to grow at the fastest CAGR over the forecasted period. This market is projected to have more than 6,600 golf courses and around 180+ new projects are under development. In 2017, Asia Pacific accounted for a market share of around 27.0% in the overall market. China and India are listed in the top 20 countries in the world for golf and are mainly contributing to regional growth.

Impact of COVID-19

COVID-19 outbreak has severely affected the market. The coronavirus crisis has disrupted the production of golf balls due to lockdown and stoppage of manufacturing. All the major events in golf sports such as PGA tours, Masters Tournaments have been postponed or canceled due to the rising number of corona cases across the globe. During the COVID-19 pandemic, the people are staying at home and following safety measures which is limiting outdoor sports activities including golf, football, among others.

However, the partial lockdown lifting in some parts of North America, and Europe is expected to boost golf tourism and sports. This is projected to positively impact market growth.

Golf Ball Market Share Insights

Leading players in the market include Mizuno Corporation; Callaway Golf Company; Dixon Golf, Inc.; Bridgestone Golf, Inc.; TaylorMade Golf Company, Inc.; Acushnet Holdings Corp; and Sumitomo Rubber Industries, Ltd.

The companies in the market are partnering and collaborating with hotels and resorts for developing golf facilities. In addition, key players focus on strategic acquisitions, mergers activities to increase their reach across the globe. For example, in 2017, Callaway golf company has acquired TravisMathew LLC and OGIO International.

Report Scope

Segments Covered in the Report 

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2014 to 2025. For this study, Million Insights has segmented the global golf ball market report based on product, application, and region:

• Product Outlook (Volume, Million Units; Revenue, USD Million, 2014 - 2025)
    • 2-Piece
    • 3-Piece
    • 4-Piece

• Application Outlook (Volume, Million Units; Revenue, USD Million, 2014 - 2025)
    • Leisure
    • Professional

• Regional Outlook (Volume, Million Units; Revenue, USD Million, 2014 - 2025)
    • North America
        • U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
        • Spain
        • France
        • Scotland
        • Sweden
        • Italy
    • The Asia Pacific
        • India
        • China
        • Japan
        • South Korea
        • Australia
        • Thailand
        • New Zealand
        • Singapore
        • Hong Kong
    • Rest of the World (RoW)