Golf Equipment Market Set to Grow by $1.58 Billion from 2024-2028, Driven by a Surge in Health-Conscious Lifestyles
The global golf equipment market is poised for substantial growth, with a projected increase of USD 1.58 billion from 2024 to 2028, according to a recent report by Technavio. This anticipated expansion is primarily driven by a growing global focus on healthy lifestyles, which is encouraging more people to take up sports like golf.
As awareness of the importance of physical and mental well-being continues to rise, golf is becoming an attractive option for individuals seeking to combine fitness with leisure. The sport offers a low-impact form of exercise, and plenty health benefits. It promotes cardiovascular health, flexibility, and mental clarity, making it especially popular among older adults and professionals looking to unwind. This trend is expected to significantly boost demand for golf equipment, including clubs, balls, and apparel.
Another factor contributing to market growth is the increasing popularity of golf among younger demographics. With the rise of social media and influencer culture, golf is shedding its image as a sport reserved for retirees and becoming more accessible and appealing to a wider audience. This shift is expected to further drive the sales of innovative and technologically advanced golf equipment, which caters to the preferences of these new entrants to the sport.
The market is also witnessing advancements in golf technology, such as smart golf clubs and GPS-enabled devices, which enhance the playing experience. These innovations are likely to attract tech-savvy players and boost the market even further.
Regionally, North America is expected to remain a dominant market for golf equipment, driven by a well-established golfing culture and high disposable incomes. However, the Asia-Pacific region is emerging as a key growth area, with rising interest in the sport and increased investments in golf infrastructure.
In conclusion, the golf equipment market is set for significant growth over the next few years, propelled by a global shift towards healthier lifestyles, technological advancements, and the sport’s expanding appeal across different demographics. For businesses in the golf industry, this presents a lucrative opportunity to capitalize on the rising demand for high-quality, innovative equipment.
Viktor Hovland has been trending in major championships since he burst onto the scene and it’s only a matter of time before he ticks one of the majors off his rich trophy list! The reason I feel The Open will be the Norwegian’s first major is because he has been very consistent over the last five years in The Open. In fact, he is joined by Cameron Young, Tommy Fleetwood, and Jordan Spieth in the top four for Strokes Gained at the last five Open Championship’s.
He clearly enjoys golf and knows he can compete against the very best players in an environment he’s comfortable in, that others may not be. He handles pressure immensely, which we’ve seen at past Ryder Cups, the FedEx Cup and even back when he was playing as an amateur at Pebble Beach in the 2019 US Open. He finished T-12 which is when people started to realise that they were watching a future major champion in the making.
He has recently gone back to his original coach, Joe Mayo, who bought him success previously and his game seems to be back in the right place. Since his first Open at Royal St. George’s in 2021 where he finished T-12, he’s had aT-4 at St. Andrews in 2022 and a T-13 at Royal Liverpool in 2023. His game elevates when it comes to the Open Championship and I feel this year we will be seeing him holding the Claret Jug on Sunday evening and become the second Scandinavian in a row to win at Royal Troon following Henrik Stenson in 2016!
Source: Rob Schumacher – USA TODAY Sports
Top 10
Collin Morikawa
After winning the PGA Championship and the Open Championship on tournament debuts so early in his professional career, Morikawa has not won a major since. However, he is still only 27 years old and has had a successful 2024 season, especially in the majors. He has finished T-3 in the Masters, T-4 in the PGA Championship and T-14 in the US Open. Flying to Scotland, he will be full of confidence with the hope of securing a third major championship to his name at such a young age. Even though he has won more in previous years, Morikawa is having the best season statistically of his career, which means a win can only be around the corner.
He is a flawless golfer and rarely makes a mistake from tee to green hitting a consistent cut ball flight. Limiting your mistakes will be crucial when plotting yourself around Royal Troon which is why I feel he will be in contention again at the fourth major of the year.
Source: The Open website
One to watch
Matthew Southgate
The Englishman from Southend-on-Sea, Essex, has had a steady career on the DP World Tour and qualified for the 2024 Open Championship through final Qualifying at Royal Cinque Ports. He finished at 6 under, three shots ahead of anyone else on the Kent coast. Shortly after Final Qualifying, he was in contention at the 2024 BMW International Open where he finished T-4 so he is playing his best golf heading to Royal Troon, where he had a great week at The Open in 2016 finishing T-12.
The next year at Royal Birkdale, he finished T-6 and in 2023 at Royal Liverpool he finished T-23. He obviously feels at home playing links golf on the coast. To add to his links pedigree, he finished T-2 in the Alfred Dunhill Links Championship last year which is played at Carnoustie, Kingsbarns and St. Andrews so he is not short of experience in Scotland. Keep an eye out for Southgate in this year’s Open Championship, as I feel he’s in for a great week.
Source: Royal Cinque Ports Golf Club – twitter page
Local
Ewen Ferguson
Scotland’s Ewen Ferguson secured his spot at Royal Troon by winning the BMW International Open last week. The 28 year old, born in Glasgow, has three DP World Tour wins to his name already and he will be looking to add some major experience to his resume after missing the cut at Royal Liverpool last year. He is now fresh off a win and full of confidence, so we expect Ferguson to use the home crowd to his advantage and give the Scottish fans someone to cheer for.
Source: Getty
Amateur
Dominic Clemons
Dominic Clemons is already making quite a name for himself. The 21 year old Englishman won the Scottish Amateur Open Championship at Muirfieldlast month by 17 shots finishing at 24 underproving that he relishes playing on Scottish soil. Last month, at the Amateur Championship, Clemons was runner-up at Ballyliffin to Jacob Skov Olesen who won the 36-hole final.
Even though he did not defeat Olesen, it was an incredible achievement and proves he is built for the big occasion, and you don’t get much bigger than The Open Championship which he qualified for through Open Qualifying at Burham and Berrow with the likes of Justin Rose and Abraham Ancer. This will be a stepping stone in Clemons’ career and a huge experience for him to play and learn alongside the best players in the world.
