New York, July 12. 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “Golf Gloves Market: Market Segments: By Product; by material; by distribution channel; and Region – Global Analysis by Market Size, Share & Trends for 2019 – 2020 and Forecast to 2030″ – https://www.reportlinker.com/p06191712/?utm_source=GNW
The golfer uses different types of golf clubs to drive the ball and move the course through the different holes. The golfer wears different clothes such as shoes, t-shirts, pants and caps when playing golf. For many reasons, such as good grip, to prevent blisters and calluses, for warmth and dryness when playing in wet and cold weather, golf gloves are the garments worn by the golfer when handling from the golf club.
The golf glove market is expected to project a notable CAGR of 3.2% in 2030.
The Golf Gloves Market is projected to exceed USD 850.2 Million by 2030 from USD 300 Million in 2019 in increasing value at a CAGR of 3.2% throughout the forecast period, i.e. say 2021-30. Amateur golf players, corporate personnel and country clubs are gaining popularity among the main drivers of global demand for golf gloves, the increase in the number of golf courses around the world, inventions such as fabrics used for making golf gloves, water resistant golf gloves, and golfers’ knowledge of finger and palm blister protection. Recent gaming technologies, such as the use of GPS and Bluetooth-enabled gloves, have also increased the sport’s popularity, attracting more participants. The GPS system measures the shooting distance for a comfortable and very precise shot. By expanding their delivery network, retailers have focused on expanding their distribution network.
Golf Gloves Market: Segments
Promotional Golf Gloves Segment to Grow with Highest CAGR in 2021-30
The golf gloves market is segmented by product into individual golf gloves, institutional golf gloves and promotional golf gloves. Individual golf gloves segment is estimated to dominate the market with a share of over 52.3% in 2019. Individual golf gloves are designed for individual golfers. Until recently, gloves were considered just practical golf equipment. Individual golf gloves have become a fashionable accessory as the preference for individuality is gradually adopted by the sport. In the short term, several companies should capitalize on this growing trend. Individual golf gloves are made primarily of leather and come in a wide variety of colors and sizes. During the forecast era, the promotional golf gloves segment is expected to grow at the fastest CAGR. The usually personalized hybrid versions are promotional golf gloves.
Online Segment to Grow with Highest CAGR During 2021-30
The golf gloves market is segmented by distribution channel into offline and online segments. The offline segment accounted for the largest revenue share of 74.8% in 2019, due to the growing presence of sporting goods retailers globally, which will increase product visibility in the short term. Development As the opening of new points of sale should strengthen the position of the offline segment in the short term. The online segment is expected to grow at the fastest CAGR during the forecast period. The big players are implementing many strategies to attract new customers. In the near future, more offline retailers are likely to focus on distributing their products through the online platform.
Golf Gloves Market: Market Dynamics
Increase in the rate of urbanization
Recent gaming technologies, such as the use of GPS and Bluetooth-enabled gloves, have increased the sport’s popularity, attracting more participants. The GPS system measures the shooting distance for a comfortable and very precise shot. Retailers focused on growing their distribution network by increasing the number of outlets. The hospitality industry usually focuses on expanding and improving its facilities to attract more visitors. In this regard, hotels in Western countries are increasingly focusing on promoting various sports activities, including golf. The demand for innovative golf accessories, including gloves, has been driven by the growing popularity of golf in Asian and European countries. Seeing a growing demand for the brand, the major players in the market have focused on developing gloves with a breathable design and improved grip.
High costs associated with maintaining physical stores
The price of golf gloves, a low preference for golf gloves among professional players as they prefer the feel of their hands directly on the golf club, is one of the major factors hampering the global golf glove industry. golf. Compared to the advertised golf gloves, the existence of cloned versions of the golf gloves in the market which are comparatively cheaper acts as a constraint for the actual manufacturers, thus hampering the global golf glove market. The recent economic crisis has had a detrimental effect on golf glove sales around the world. Currency fluctuations and shrinking brand outlets in emerging regions could be demand-limiting variables. In the golf glove industry, raw materials also play a vital role and their prices have increased significantly in recent years.
Golf Gloves Market: Key Players
Company overview, business strategy, key product offerings, financial performance, key performance indicators, risk analysis, recent development, regional presence and SWOT analysis.
Tylor Made Golf
List of titles
Golf Gloves Market: Regions
The golf gloves market is segmented on the basis of regional analysis into five major regions. These include North America, Latin America, Europe, Asia-Pacific, Middle East and Africa.
The North America golf glove market led the market with a lion share of over 56.2% in 2019 and is expected to maintain its lead over the forecast period. One of the key factors driving the growth of the regional market is the growing consumer interest in golf as a sport coupled with the presence of proven infrastructure in developed countries, such as the United States. During the projected period, Asia-Pacific is expected to grow at the fastest CAGR. In this area, the demand for the product is mainly driven by its increasing availability and accessibility in countries like Japan and India. China has always been considered a lucrative market by overseas golf glove manufacturers, given the relatively low production costs and availability of cheap labor in the country.
The highly competitive golf gloves market includes several major players such as Callaway Golf Company, Acushnet Holdings Corp., Mizuno Corporation hold substantial market share in the golf gloves market. Other players analyzed in this report are NIKE, Inc., Adidas AG, Amer Sports Corporation, and 3M Company, among others.
The Golf Gloves Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, YOY Growth, CAGR – US & Canada
Latin America Market size, share, trends, opportunities, annual growth, CAGR – Mexico, Argentina, Brazil and rest of Latin America
European Market Size, Share, Trends, Opportunities, YOY Growth, CAGR – UK, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
APAC Market Size, Share, Trends, Opportunities, YOY Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
MENA Market Size, Share, Trends, Opportunities, YOY Growth, CAGR – North Africa, Israel, GCC, South Africa & Rest of MENA
The Golf Gloves Market Report Also Contains Analysis On:
Golf Gloves Market Segmentation:
By product type:
Individual golf gloves
Institutional golf gloves
Promotional golf gloves
Leather Golf Gloves
Synthetic golf gloves
All Weather Golf Gloves
Thermal golf gloves
By distribution channel:
Golf Gloves Market Dynamics
Golf Gloves Market Size
Offer and demand
Competition and companies involved in the market
Market value chain
Market drivers and restraints
Golf Gloves Market FAQs
Which segment is expected to hold the largest market share?
At what CAGR is the market expected to grow between 2020 and 2030?
Who are the key players in the Golf Gloves market?
What could be the challenging factors in the growth of the Golf Gloves market?
What are the growth drivers of the Golf Gloves market?
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