Is the golf industry growing or shrinking?

Is the golf industry growing or shrinking?

All this growth comes after a long period of decline, and the golf industry is still smaller than it was 15 years ago. In 2006, there were nearly 30 million golfers in the United States. As of 2019, there are only 24.3 million. The timing is no coincidence. Although the pandemic destroyed many people’s lives, it actually helped the golf industry.

Why investing in Asia Pacific for golf clubs?

Asia Pacific offers strong growth potential for golf clubs owing to rising golf-playing population and increasing disposable income of the middle-class population. The sales of golf equipment are mainly driven by the increasing number of golf tournaments and a growing number of participants.

What is the market size of the golf industry?

Projections for the global market for golf equipment propose a growth rate of CAGR 1.4% over the 2020–2027 period, expecting a total market value of $9.4 billion in 2027. Additionally, golf ball sales statistics predict a CAGR of 1.4% and $4.1 billion income by 2027.

How much money do country clubs make?

The US golf industry statistics show that the country clubs & golf courses boasted quite the income. According to IBISWorld’s report from 2020, the market was worth $25,362.5 million that year, and it is expected to keep growing. 4. There were 883,500 total golfers in England in 2020.