The term "golf industry" refers to all businesses, products, and services associated with the sport of golf. Golf courses, golf pros, golf equipment companies, and even golf clothing companies are all considered part of the golf industry, as their main clientele consists of golfers.
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What are some facts about the golf industry?
Golf Industry - Statistics & Facts. Since its emergence as a major spectator sports in the 1920s, golf has grown to become not only a popular recreational activity but also a sport with a major economic impact. In 2017, total golf equipment wholesale sales in the U.S. including golf clubs and balls amounted to more than two billion U.S. dollars.
What will the golf equipment industry look like in 2025?
According to golf equipment industry statistics, its sales are expected to maintain their boost at a 2.2% CAGR by 2025. Compared to golf balls, gear, and footwear, golf club sales made up the largest share of the industry’s size—45%.
How big is the global golf apparel market?
The golf apparel industry statistics featured in the report predict an incremental growth of $2.82 billion. The North American market segment will make up 37% of this growth. However, the Asia Pacific is a growing power on the market.
What drives sales in the golf industry?
Compared to golf balls, gear, and footwear, golf club sales made up the largest share of the industry’s size—45%. Product innovations and significant marketing investments and activities to reach a new customer base have a crucial impact on the market.
What industry is the golf industry?
The term "golf industry" refers to all businesses, products, and services associated with the sport of golf. Golf courses, golf pros, golf equipment companies, and even golf clothing companies are all considered part of the golf industry, as their main clientele consists of golfers.
How is golf described?
golf, a cross-country game in which a player strikes a small ball with various clubs from a series of starting points (teeing grounds) into a series of holes on a course. The player who holes his ball in the fewest strokes wins.
What do I need to know about the golf industry?
US Golf Industry StatisticsIn the US, around two million jobs are created by the golf industry, as statistics reveal. ... In 2020, 101 million Americans engaged in golf-related activities. ... Golf course industry statistics indicate that compared to 2019, there were 20 million fewer rounds played in March and April 2020…More items...•
How is the golf industry doing?
Golf Industry Stats and Growth Projections in 2022 441 million rounds of golf were played in 2019. 24.3 million people played on-course golf in 2019. 41 percent of Americans supported their states allowing the reopening of golf courses during the COVID-19 pandemic.
Whats golf stand for?
The word 'golf' is not an acronym for anything. Rather, it derives linguistically from the Dutch word 'kolf' or 'kolve,' meaning quite simply 'club.
Is golf considered a sport or a game?
Golf, although not requiring brutal strength, is a sport. Golf is a legitimate sport because it is highly competitive, requires mental capacity, and demands physical extortion and muscle use. A big part of any sport, especially golf, is being competitive. Golf is seen as just a game, but golfers are highly competitive.
How big is the golf industry?
Golf is a nearly $70 billion industry.
What is the current state of the golf industry?
Golf industry statistics show promising growth in almost all market segments. It might not seem like an exciting game to a casual onlooker. However, it certainly has its fair share of enthusiasts.
Is the golf industry a good career?
The golf industry generates $55 billion in annual wages. Not all golf jobs, however, are created equal. Some allow more access to fun things a lot of us would pay to do, no less get paid. We identified 10 young people with the coolest gigs (removing myself and my peers at the magazine from consideration).
Why has golf become so popular?
Another reason why golf is so popular is that anyone can play. Unlike sports like soccer or basketball, golf doesn't require much athletic ability if you're in it for a casual game. Because golf doesn't require any intense cardiovascular exercise, it can be enjoyed by kids and grandparents of all ages.
How big is the golf ball market?
Industry Insights The global golf ball market size was valued at USD 1.11 billion in 2017 and is projected to register a CAGR of 2.7% from 2018 to 2025. Promotion of golf tourism, construction of new golf courses, and rising consumer disposable income are some of the key market drivers.
How many golf balls are lost each year?
300 million golf ballsAn estimated 300 million golf balls are lost or discarded in the United States every year, according to research by the Danish Golf Union. Because it can take golf balls 100 to 1,000 years to decompose, scientists say, they present a major environmental risk to the planet.
Which country has the largest golf market?
India and China are two of the world’s largest emerging golf markets. The golf industry in Asia has taken off with rising income and more visitors. India and China, which already attract large numbers of tourists seen the need to serve increasing numbers of members in their countries.
How does technology affect golf?
The effects of technology on golf can be seen in the design of the golf clubs, the use of global positioning system devices for measuring the distance to the hole, and swing analysis which can correct errors in the swing.
How many hours of golf is on the PGA Tour in 2019?
In 2019, PGA Tour Golf covered about 900 hours of live PGA tour golf, and while the COVID-19 pandemic has put a damper on 2021 expectations, golfers can expect the overall trend of increased coverage of tournaments and an increased social media presence to continue in the coming years.
How many millennials are interested in golf?
Younger golfers like Rory Mcllroy are proving the stereotype that golf is a sport for the older segments of the population wrong. In 2019, over 14 million millennials indicated that they would be interested in playing a game of golf this year.
How many holes are there in golf?
Golfers can expect more 6 and 9 hole courses to complement the traditional golf courses. Golfing legend, Gary Player, said in an HSBC report that golfing community would have to come up with ways to play that do not take as long as a complete round for golf to grow.
Why are shorter golf courses so popular?
More people are being drawn to shorter courses and the opportunity to play fewer holes because of work and family requirements. This allows golfers to get onto the course quicker, and shorter courses are increasing in popularity. Golfers can expect more 6 and 9 hole courses to complement the traditional golf courses.
What percentage of golfers are women?
Another noteworthy demographic shift is the increasing interest in golf from women. In 2019, women were about a quarter of all golfers, and surveys found that their presence in the key beginners and juniors segments of golfers has grown as well.
Books & Periodicals
These are just a few of the more business-themed resources related to golf. Note that there may also be relevant information in the General Resources section of this guide.
Internet Resources
We have included some resources that are not business specific in an effort to provide sources that can help researchers understand the sport itself and its structure.
Search the Library's Catalog
If you are looking to search the catalog for more general titles see the Search the Library's Catalog page. Additional works on the golf business in the Library of Congress may be identified by searching the Online Catalog under appropriate Library of Congress subject headings.
How much is the golf industry worth in 2020?
According to IBISWorld’s report from 2020, the market was worth $25,362.5 million that year, and it is expected to keep growing.
What is the global golf apparel market?
The global market for golf apparel, footwear, and accessories is expected to experience a CAGR of 4% during 2020–2024, according to a market analysis by Technavio. The golf apparel industry statistics featured in the report predict an incremental growth of $2.82 billion.
How much is the golf course market worth in 2021?
Going by available revenue data, the country club and golf course market in the US is worth $25.8 billion as of February 11 this year. Moreover, projected golf industry statistics for 2021 show a growth expectation of 1.5% for the year.
How many golfers will be in England in 2020?
There were 883,500 total golfers in England in 2020. (Statista) In May 2020, there were 883,500 active adult golf players in England (“adult” applied to golfers aged 16 and over). In the report, “active” meant that they played at least twice in the last 28 days.
How many people play golf in 2020?
In 2020, the number of Americans who golfed on- and off-course was almost the same. So, 24.3 million people played on proper golf courses, of which 10.9 million played on-course only.
What rules dictated one rider per cart or no carts allowed on golf courses at all?
Social distancing rules dictated one rider per cart or no carts allowed on golf courses at all. So, demand rose for the kind of transport that would allow both comfort and the mandated distance.
Why is golf so popular in 2020?
Golf has surged in popularity in the latter half of 2020. This is because people were looking for socially distanced outdoor activities amidst the pandemic. A 13.9% increase in rounds played meant increased revenue from green fees as well.
What are the leading golf equipment companies?
The leading golf equipment/apparel companies in the world include Acushnet, Callaway Golf, as well as NIKE golf. In 2020, worldwide revenue of Callaway Golf amounted to almost 1.6 billion U.S. dollars. The Royal Troon Golf Club in Glasgow, Scotland is the leading golf course management company and currently owns 278 golf courses worldwide in 2020.
How much is golf equipment sold in the US?
In 2019, total golf equipment wholesale sales in the U.S. including golf clubs and balls amounted to more than 2.3 billion U.S. dollars.
How much money will golf clubs make in 2024?
Revenue from golf course and country clubs is projected to reach approximately 24.65 billion U.S. dollars in the United States by 2024. As of 2019, the number of golf participants in the U.S. stood at approximately 24.3 million.
How much is the golf industry worth?
It includes some 15,000 facilities and is worth approximately $84.1 billion.
How many golfers are male?
Since 77% of US golfers are male, this information doesn’t seem surprising. Furthermore, although golf industry demographics clearly reflect a rise in the number of younger participants, senior citizens remain the most common golfers.
How many golf courses are there in the world?
More specifically, the latest data tells us there are 38,864 golf courses worldwide. However, the sport isn’t popular everywhere, at least not for now. Golf hasn’t reached glory yet in 16% of the countries in the world. In the remaining 84% of them, there’s at least one golf course.
Is golf a specific sport?
We’ve seen how golf works globally, and now we’re taking a closer look at American golf. No, it’s not a specific kind of golf, but the sport seems to be so big in the US that it’s only fair to give this topic more attention.
CAN THE GOLF COURSE INDUSTRY EXHALE YET?
As the world first emerged from isolation and social distancing in 2020, quarantine-weary golfers found their way back to the golf course in near-record numbers.
REALITY CHECK: THERE WILL ALWAYS BE GOLF COURSE CLOSINGS
Regardless of how much or for how long the game continues to enjoy its current resurgence, the truth is there will always be golf course closings. Golf courses, like any other business type, can fail from bad management or poor decision-making.
GREENS FEES AND MEMBERSHIP FEES ARE LIKELY TO GO UP
Golf country club membership fees or the cost of a round of golf are likely to increase at many properties in 2022 if they haven’t already. Joe Beditz shared NGF data that more than one-third of public golf courses increased their peak-season weekend green fees in 2021.
THE BIGGER YOU ARE IN THE GOLF COURSE INDUSTRY, THE BRIGHTER THE FUTURE MAY SEEM
Last summer, CNBC TV interviewed Chip Brewer on “Closing Bell,” a show devoted to day trading, money managers, and investor news. Brewer has been President and CEO of Callaway Golf since 2012. Interviewer Morgan Brennan asked Brewer to go to his crystal ball and look at the near-term future of the golf industry.