5 Key Insights on Golf Gloves Market - Fact.MR
Published : 21 Aug 2017 Industry: Sports
Golfer uses several accessories, one of which are the golf gloves. Golf gloves offer many advantages such as warmth, grip, help in avoiding blisters, protection from heat and cold etc. The golf gloves are manufactured using different material such as leather, hybrid material and synthetic. Factors such as increasing number of people opting golf as their career, increase in disposable income due to which businessmen and rich people play golf for recreation, increasing awareness among people regarding issues of blisters on palms, various innovations to better the experience of the wearer, etc., are driving the global golf gloves market. Few restraining aspects such as high price, low preference for gloves among amateur golfers as well as clones of golf gloves which are cheaper than original hinder the growth of the market. North America region is expected to be the most attractive region for the golf gloves market.
The global golf gloves market is anticipated to show a value of about US$ 200 Mn and is expected to grow at a moderate rate during the period of forecast of 2017 to 2022.
5 Forecast Highlights on Global Golf Gloves Market
- North America expected to grow at the moderate CAGR during the period of forecast as well as dominate the global market in terms of market share by revenue, as of 2017. It can be said that this trend would be followed, considering the technological developments observed in this region
- Asia-Pacific excluding Japan (APEJ) region also anticipated to grow at the highest growth rate as compared to other regions, yet does not portray high market share by revenue. This region is anticipated to grow at a CAGR of 4.4% during the period of forecast 2017 to 2022
- The hybrid golf gloves segment by material type is anticipated to be the fastest growing segment in this category and is marked by a higher market share by revenue thereby portraying dominance over the market. This segment is anticipated to grow at a CAGR of 4.3% during the period of forecast and this trend will most likely preserve its dominance throughout the period of forecast
- Individual segment by buyer type shows higher market share dominating the market as well as higher growth rate. This segment reflects a market share of about 70% as of 2017 and this trend is expected to continue given the higher growth rate that this segment shows
- The direct to consumer brand outlet segment and third party online channel segment are growing at the same growth rate and this trend is anticipated to continue over the forecast period. The modern trade segment witnesses higher market share of 23.1% as of 2017 but reflects a less growth rate during the period of forecast
The report has also profiled leading players in the global market for golf gloves, which would remain active through 2022. These include companies like 3M Company, Amer Sports Corporation, Adidas AG, NIKE, Inc., Mizuno Corporation, Under Armour, Inc., Acushnet Holdings Corp., and Callaway Golf Company.