Global Golf Ball Market By Type (2-Piece, 3-Piece, and 4-Piece), By Application (Leisure, and Professional), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

In 2022, the Global Golf Ball Market was valued at USD 1,046.2 Million and is expected to reach at USD 1357 Million by 2032. Between 2023 and 2032, this market is estimated to register the highest CAGR of 2.7%.

The elevation of golf tourism, the construction of new golf courses, and increasing consumer spendable income are some of the major market drivers. Governments across the world are organizing tournaments, workshops, and the development of professional golf courses to empower tourism. This is also authorized to the growth of the market during the forecast period.

Drivers:

Rising Popularity of Golf Boosts the Golf Ball Market Growth.

As more amateurs turn pros, older golfers have high hopes for the game’s future and popularity. Interest grows, especially when young people see a future in it. New participants are getting younger. The number of female golfers increased in the last five years.

The growing interest in golf is primarily driven by older, already passionate golfers. The number of rounds played by a golfer has risen, and more people are visiting the golf course. The major manufacturers operating in the market are eyeing a very attractive long-term trend. Many companies have invested in people and expanded their ‘in-store’ service model to become trusted advisors for golf enthusiasts of all skill levels.

Increased government initiatives to promote participation in the sport and purchasing power, coupled with new product development, are expected to boost the acceptance of golf equipment. Focus on high-income levels and rising living standards in developed countries is expected to boost the growth of this market.

Restraints:

Regulatory Bodies apply Various Regulations on Golf balls.

Government agencies in various countries design and implement national laws and regulations related to sports. Both the USGA and The R&A are the governing bodies of golf and, together, create, interpret, and maintain the Rules of Golf. The Rules of Golf establish standards and limits for the design and performance of all balls.

Many new rules regarding golf balls have been introduced. The rules of golf have governed the weight, size, spherical symmetry, initial velocity, and gross distance performance of golf balls. The most highly regulated categories in golf are golf balls and golf clubs. Manufacturers strive to ensure that their new golf balls comply with the Rules of Golf as promulgated by the United States Golf Association.

COVID-19 Impact Analysis:

The COVID-19 Outbreak has Severely Impacted the Market.

The COVID-19 outbreak has negatively impacted the growth of the golf ball market due to social distancing norms and nationwide lockdowns. Golf is a sport largely affected by trends due to this downturn in the golf ball market. The coronavirus crisis has disrupted golf ball production with lockdowns and production shutdowns.

During the COVID-19 pandemic, people are following safety measures to stay home and limit outdoor sports activities such as golf and soccer. The state began to recover from midyear onwards due to improved sales and market growth.

By Type Analysis:

4-Piece Segment Leads the Global Golf Ball Market with Major Market Share. 

Based on product type, the market can be segmented into 2-piece, 3-piece, and 4-piece products. The 4-piece segment leads the global market, surpassing 2-piece and 3-piece. Professional golfers’ preference for high stability and low spin is expected to drive growth in the segment. However, they are more expensive than their two-piece counterparts because they have additional benefits, such as better air stability and ball control.

The two-part segment is expected to grow at the fastest CAGR during the forecast period. These balls are suitable for amateur golfers due to their low price. It is considered one of the most popular products for beginner golfers due to its low cost and excellent durability. Growing adoption by amateur players and expansion of recreational facilities in emerging markets are expected to accelerate the growth of the two-part series.

By Application:

The Professional Golf Dominated the Market.

Rising disposable incomes of the middle class, construction of new golf courses, and heavy government investment and initiatives to promote tourism for the sport have recently increased the popularity of golf as a leisure activity. Numerous resorts and hotels around the world have developed mini-golf courses to attract more guests and organize vacations and trips where the sport is the main attraction, promoting it as a leisure activity.

Additionally, 9% of his global travelers are junior golfers, creating a niche market for recreational golf providers to offer miniature versions of the sport at relatively low cost. As a result, the recreational application market is expected to witness significant growth during the forecast period.

Professional golf dominated the market and is expected to reach a market size of over $800 million by 2025. Thanks to this expansion, it has become very popular and attracts significant investment from various organizations, governments, and other investors. Several golf associations work together to promote the sport among young people.

In recent years, many similar programs have been launched around the world to promote the acceptance of golf as a professional sport among young people. Both professional and amateur competitions. For example, the US PGA Tour. The Open and Masters require the use of different types of golf balls, creating additional demand. This is expected to ultimately contribute to the growth of the overall golf ball market.

Key Market Segments:

By Type 

• 2-Piece
• 3-piece
• 4-Piece

By Application

• Leisure
• Professional

Opportunity:

Growing Competition among Manufacturers for Major Market Share.

The game of golf has benefited from a massive increase in rounds and new golfers, and golf courses around the world serve as safe and enjoyable havens. Many businesses need to have quickly available products at acceptable prices to meet surges in demand. Market participants must be able to respond quickly to fluctuations in sales and the need for specific product changes.

A certain level of product customization requires an entirely new information infrastructure for the golf industry. The golf equipment market is a highly competitive market with many established players such as retail, e-commerce, and sporting goods. It also faces unfavourable competition from counterfeit sporting goods and accessories, with cheaper and lower-quality variants. Competition among manufacturers for market share exists in areas.

Trends:

Golf Tourism Boosts Growth of Golf Ball Market.

The rising trend of golf tourism is driving the growth of the golf ball market around the world. Due to its health benefits, people’s growing propensity towards outdoor games and sports creates lucrative opportunities for market growth rates.

Innovation and technological advances in the golf industry are other factors that enable manufacturers to offer golf simulators, and for this reason, they are becoming increasingly popular as indoor games in several economies over the next few years.

Regional Analysis:

North America Dominates the Golf Ball Market in Terms of Market Share During the Forecast Period.

North America holds a dominant market share of over 35%, with over 17,000 golf courses, of which approximately 13,000 are public clubs, and 4,000 are private clubs. Additionally, the region is filled with several major players, such as Nike, Inc. and Callaway Golf Company. Dixon Golf Co.; Europe is poised for steady growth due to its real estate presence and burgeoning tourism industry.

Asia Pacific is expected to grow at the fastest CAGR during the forecast period. This market, he expects, will include over 6,600 golf courses, with over 180 new projects in development. China and India rank among the top 20 Gulf countries in the world, making significant contributions to regional growth.

Key Regions and Countries Covered in this Report:

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Recent Development:

• In 2023, Titleist launches new 2023 Pro V1 and Pro V1X golf balls on the PGA tour.
• In 2022, TaylorMade golf Company has announced the acquisition of South Korean-based golf ball manufacturing company Nassau Golf Co Ltd as the company seeks to integrate its global golf ball operations.

Market Share & Key Players Analysis:

Mizuno Corporation and Callaway Golf Company are the Major Key Players in Golf Ball Market.

The market is highly competitive due to the presence of bold players such as Callaway Golf Company, Mizuno Co. Ltd, Bridgestone Golf, Inc, Sumitomo Rubber Industries Ltd, TaylorMade Golf Company, Inc, and Acushnet Holdings Corporation.

Recently, it has been observed that growing markets, especially Asian countries such as China and India, are increasingly adopting golf as a sport and leisure activity. Higher disposable incomes and higher living standards, coupled with a greater emphasis on leisure activities, could fuel this growth.

The company works with resorts and hotels around the world to develop golf facilities and provide balls to promote the sport. They also focus on mergers and acquisitions as part of their business strategy to drive growth.

Market Key Players

• Callaway Golf Co.
• Dixon Golf, In
• Mizuno Corp.
• Nike Golf, Inc.
• TaylorMade Golf Co., Inc.
• Bridgestone Golf, Inc
• Sumitomo Rubber Industries Ltd
• OnCore Golf Technology Inc.
• Tee Ventures (India) Pvt. Ltd.
• Toppoint Corp. Ltd.
• Turner Broadcasting System, Inc.
• XXIO Golf
• Other Key Players

Report Scope: