Golf Apparel, Footwear, and Accessories Market in US: 3.95% Y-O-Y Growth Rate in 2021 | By End-user (men, women, and children) and Distribution channel (offline and online) - Forecast and Analysis 2021-2025

NEW YORK, April 22, 2022 /PRNewswire/ -- The Golf Apparel, Footwear, and Accessories Market Value in US is set to grow by USD 1.12 billion, progressing at a CAGR of 5.03% from 2020 to 2025, as per the latest report by Technavio.

The rising number of new product launches is notably driving the market growth in US, although factors such as threat of counterfeit golf products may impede market growth. Moreover, the golf apparel, footwear, and accessories market is segmented by end-user (men, women, and children) and distribution channel (offline and online).

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Some of the Key Topics Covered in the Report Include:

Market Driver

Vendors are focusing on developing new golf apparel, footwear, and accessories that not only have unique designs but can also provide more comfort to wearers. Market vendors are expanding their product portfolios with the aim of increasing their sales. They are launching new products with innovative styles to enhance the comfort of users. New product launches and the expansion of current product lines are some of the most preferred marketing strategies adopted by the vendors in the market to gain more market shares and retain their existing market shares. With the increasing number of product launches and the rising adoption of these products among customers, the market is expected to grow considerably during the forecast period.

Market Challenge

The increasing demand for golf products has simultaneously led to a rise in the influx of counterfeit products into the market. Counterfeiting refers to the branding and sales of unauthorized products, which poses a major challenge for genuine vendors. Counterfeit golf bags are manufactured using low-cost, non-standard materials. Counterfeit golf products affect consumers as well as the genuine manufacturers of golf apparel, footwear, and accessories. Consumers who buy counterfeit goods, either knowingly or unknowingly, often get low-quality goods. Most consumers cannot distinguish between original products and counterfeit products and buy the latter due to their low cost, which affects the brand and sales of genuine companies. Hence, vendors are undertaking active measures to stop counterfeiting. Many of these counterfeit golf products are sold on online retail platforms and auction websites. With increasing digitization and the growth in e-commerce platforms, the penetration of counterfeit products is likely to increase, which will hamper the growth of the golf apparel, footwear, and accessories market in the US during the forecast period.

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Golf Apparel, Footwear, and Accessories Market in US: Segmentation Analysis

The golf apparel, footwear, and accessories market share growth in US by the men segment will be significant during the forecast period. The majority of participants in golf as a regular sport and in tournaments are men. The growing baby boomer population and high consumer spending in the US will drive the demand for golf apparel, footwear, and accessories in the men segment. The availability of distinct and advanced product offerings, in terms of the design, from key vendors is propelling demand from men who play golf. 

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Golf Apparel, Footwear, and Accessories Market in US: Vendor Analysis

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• Acushnet Holdings Corp.- The company offers a wide range of golf apparel, footwear, and accessories through its brand FootJoy.
• adidas AG- The company offers a wide range of golf apparel, footwear, and accessories such as shoes, t-shirts, and shorts.
• Bridgestone Corp.- The company offers a wide range of golf apparel, footwear, and accessories such as caps, t-shirts, hats, and shoes.
• Callaway Golf Co.
• Mizuno Corp.
• Nike Inc.
• PUMA SE
• Ralph Lauren Corp.
• Under Armour Inc.
• VF Corp.

Moreover, the golf apparel, footwear, and accessories market in US is fragmented and the vendors are focusing on the launch of new products with innovative designs and technology to compete in the market.

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Table of Contents

Executive Summary

Market Landscape

• Market ecosystem
• Market characteristics
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2020
• Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

• Five forces summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by End-user

• Market segments
• Comparison by End-user
• Men - Market size and forecast 2020-2025
• Women - Market size and forecast 2020-2025
• Children - Market size and forecast 2020-2025
• Market opportunity by End-user

Market Segmentation by Distribution channel

• Market segments
• Comparison by Distribution channel
• Offline - Market size and forecast 2020-2025
• Online - Market size and forecast 2020-2025
• Market opportunity by Distribution channel

Customer landscape

• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Competitive scenario
• Vendor landscape
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• Acushnet Holdings Corp.
• adidas AG
• Bridgestone Corp.
• Callaway Golf Co.
• Mizuno Corp.
• Nike Inc.
• PUMA SE
• Ralph Lauren Corp.
• Under Armour Inc.
• VF Corp.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
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Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio