PUBLISHER: SkyQuest | PRODUCT CODE: 1646248
PUBLISHER: SkyQuest | PRODUCT CODE: 1646248
Golf Ball Market size was valued at USD 1.2 billion in 2023 and is poised to grow from USD 1.23 billion in 2024 to USD 1.53 billion by 2032, growing at a CAGR of 2.7% during the forecast period (2025-2032).
The global golf ball market is poised for significant growth, driven by increased golf tourism, higher consumer disposable incomes, and a surge in new golf course construction worldwide. The rising popularity of golf, especially among professionals, has led to an expanding base of players and heightened demand for golf balls. For example, the National Golf Foundation reported approximately 25 million golfers in the U.S. in 2019, equating to about 8% of the population, with a notable influx of new players. In addition, ongoing technological innovations, such as Seamless Cover Technology, are set to enhance product appeal further. This combination of factors indicates a robust trajectory for the golf ball market in the coming years.
Top-down and bottom-up approaches were used to estimate and validate the size of the Golf Ball market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Golf Ball Market Segments Analysis
Global Golf Ball Market is segmented by Product Type, Application, Distribution Channel and region. Based on Product Type, the market is segmented into One-Piece Golf Balls, Two-Piece Golf Balls, Three-Piece Golf Balls, Four-Piece Golf Balls and Others. Based on Application, the market is segmented into Leisure and Professional. Based on Distribution Channel, the market is segmented into Online and Offline. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Driver of the Golf Ball Market
The global golf ball market is expected to experience significant growth driven by the rapid urbanization in developing countries, particularly India and China, along with a rise in disposable income among consumers. In recent years, the sport of golf has gained considerable popularity, especially among affluent and professional individuals, leading to a surge in demand for golf balls. Furthermore, the increasing emphasis on quality leisure time and the improved accessibility of golf equipment are anticipated to further fuel this growth. Collectively, these factors suggest a promising outlook for the golf ball market during the upcoming forecast period.
Restraints in the Golf Ball Market
The global golf ball market is expected to face significant challenges due to a notable shift towards online and indoor gaming, driven by the increasingly hectic lifestyles of people worldwide. This trend is likely to diminish interest in traditional golf. Furthermore, the escalating costs of golf course access and the rising prices of golf equipment are also anticipated to hinder market growth in the years ahead. Collectively, these factors represent substantial restraints that could impact the overall demand for golf balls, as consumers may prioritize more convenient and cost-effective forms of entertainment.
Market Trends of the Golf Ball Market
The golf ball market is experiencing a notable upsurge, driven by the proliferation of golf courses in highly developed nations such as Japan, the United States, and Germany. With approximately 30,000 golf courses worldwide and over 70% accessible to the public, the sport is becoming increasingly popular among both recreational and competitive players. The ongoing construction of over 200 golf courses, along with 350 new projects in the planning phases, indicates a promising outlook for the golf industry. This growth in infrastructure not only enhances the player base but also fuels demand for high-quality golf balls, presenting lucrative opportunities for manufacturers and retailers alike.