Golf Gloves Market
Golf Gloves Market By Material Type (Leather, Synthetic, Hybrid), Sales Channel (Independent Sports Outlet, Franchised Sports Outlet), Buyer Type (Individual, Institution, Promotional) & By Region- Global Insights 2023-2033
Analysis of Golf Gloves Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Golf Gloves Market Outlook (2023-2033)
The global Golf Gloves market garnered a market value of US$ 197.4 Million in 2022 and is expected to accumulate a market value of US$ 310.38 Million by registering a CAGR of 4.2% in the forecast period 2023-2033. The market for Golf Gloves Registered a CAGR of 2.5% in the historical period 2018-2022.
One of the key factors propelling the global market for golf gloves is the growing number of golfers. The number of golfers choosing the sport as their vocation is increasing along with the game's growing popularity, which indirectly supports the market's expansion.
Globally, there are more golf courses opening up, there have been numerous advancements and innovations in the fabric used to make golf gloves, and golfers are becoming more aware of the need to protect their palms and fingers from blisters and from outside elements like heat. These factors have all contributed to the growth of the global golf gloves market.
There are many different styles of gloves available made of various materials, including leather, synthetic material, thermal gloves, etc. The global market is expanding as a result of the growing demand for all-weather golf gloves. Even elite people and businesses participate in this sport, putting the professional aspect to one side.
These aforementioned factors would facilitate the growth opportunity for the Golf Gloves market, which is projected to rise at a CAGR of 4.2% in terms of value over the forecast period 2023-2033.
Report Attributes |
Details |
Golf Gloves Market Size (2022) |
US$ 197.4 Mn |
Estimated Market Value (2023) |
US$ 205.69 Mn |
Forecasted Market Value (2033) |
US$ 297.9 Mn |
Global Market Growth Rate (2023-2033) |
4.2% CAGR |
North America Market Share (2023) |
32.6% |
North America Market Value (2023) |
US$ 64.3 Mn |
Europe Market Share (2023) |
26.7% |
Europe Market Value (2023) |
US$ 52.8 Mn |
China Market Share (2023) |
11.4.2% |
China Market Value (2023) |
US$ 22.5 Mn |
Market Share of Top 3 Countries |
47.3% |
Key Company Profiled |
|
Know thy Competitors
Competitive landscape highlights only certain players
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Sales Analysis of Golf Gloves (2018-2022) Vs. Market Forecast Outlook (2023-2033)
According to Fact.MR, the Golf Gloves market experienced growth of 2.5% CAGR in the historical period 2018-2022. The spread of coronavirus crippled the entire world. Nearly all countries imposed lockdowns and strict social distancing measures. This has resulted in the disruption of supply chains across geographies. These factors have significantly impacted the demand for Golf Gloves, at least in the short term.
However, in the long term, the impact on the Golf Gloves market is expected to continue its upward trajectory over the coming years. As the popularity of ice hockey gains traction in the global sports industry, companies manufacturing sporting goods & accessories are becoming more focused upon producing the apparels for the sport.
This is mostly due to the abundance of discretionary income, which is driving the growth of both the golf sport and the global market for golf gloves. Moreover, the enhanced investments in sports markets encourage demand for the golf gloves market.
- Short Term (2023 to 2026): With the growing awareness of health and well-being, the participation of individuals in physical activities, specifically golf has increased over the period.
- Medium Term (2026-2029): Various benefits provided by the golf court to their regular members or people having annual memberships will motivate the people to play golf regularly and use different golf apparel including golf gloves.
- Long Term (2030-2033): Long-term benefits of daily sports are now well known. Owing to the different advantages of golf sports over a long period will also be advantageous to the manufacturers of golf apparel, specifically gloves.
Thus, with growing modernisation and rising investments in sports across regions, the market is forecast to expand at a mammoth CAGR of 4.2% by value in the forecast period 2023-2033.
Which are Some Prominent Drivers of the Golf Gloves Market?
“Enhanced Product Attribute in Golf Gloves to Accelerate the Market Growth”
Greater stability, traction, and balance are all benefits of wearing golf-specific gloves on golf courses. Golf glove demand has increased as a result of the market penetration of new shoe models. Manufacturers are currently focusing on the creation of novel fabrics composed of lightweight, breathable microfiber and microfleece fibers.
New glove designs are more consumer-friendly, lighter, and multifunctional. This means that you can wear these gloves outside the golf field as well. Therefore, innovation in golf glove manufacturing for instance lighter weight and better grip can increase the sales of golf gloves.
“Surge in Golf Playing Population Can Pave the Demand for Golf Gloves”
In no time, golf has become increasingly popular across the US. Following the epidemic, golf's popularity rose by 16.1% in 2022. This demonstrates that both professional players and young athletes learning the rules enjoy the sport. Golf is expanding globally, and each year there are an increasing number of contests.
Recent reports claim that numerous youth golf tournaments are being arranged. For golf fans, several competitions including the Ryder Cup, Sanderson Farms Championship, and others are routinely held. This has inevitably raised the market's demand for golf gloves.
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What are the Challenges Faced by Golf Gloves?
“Adverse Environmental Impact to Hamper the Growth of the Market”
The maintenance and expansion of golf courses damage ecosystems all around the world. The environmental problems associated with golf are growing as the activity becomes a more popular pastime around the world. The upkeep of golf courses depletes freshwater supplies, according to the United Nations Environment Programme.
The number of golf courses has rapidly increased as a result of the growth in golf tourism. Golf courses require a significant amount of water every day, which causes excessive water extraction and water scarcity. In situations where wells are used to supply water, excessive pumping causes saline intrusion in the groundwater.
Golf resorts or courses are frequently located close to protected areas or in regions with few resources, which causes the worst impact. The adverse environmental effect can impact the sales growth of golf gloves.
Comparative View of Golf Gloves Markets
Golf Gloves Market :
Attributes |
Golf Gloves Market |
CAGR (2023-2033) |
4.2% |
Market Value (2033) |
US$ 310.38 Million |
Growth Factor |
As the popularity of hockey gains traction in the global sports industry, companies manufacturing sporting goods & accessories are becoming more focused upon producing the apparels for the sport such as golf gloves. |
Opportunity |
Penetration of international and local players is creating lucrative opportunities for the Golf Gloves market. |
Sports Apparel Market :
Attributes |
Sports Apparel Market |
CAGR (2023-2033) |
5.8% |
Market Value (2033) |
USD 362.3 Billion |
Growth Factor |
The aspiration to follow the up-to-date fashion trends and to maintain a sporty look is driving progress in the sports apparel market. |
Opportunity |
Manufacturers in the sports apparel market are paying greater attention to the design, comfort, and innovation by creating lucrative opportunities for the brands to introduce attractive and stylish sports apparels. |
Sport Protection Equipment Market :
Attributes |
Sport Protection Equipment Market |
CAGR (2023-2033) |
7% |
Market Value (2033) |
US$ 6 Billion |
Growth Factor |
Concerns over rising numbers and severity of sports injuries has led to higher awareness on the need to use protective equipment. |
Opportunity |
Sports protection equipment has gone the digital way, with manufacturers focusing on developing revolutionary sport protective equipment using sensors and materials that can provide better protection. |
Regional Insights
What is Creating Lucrative Opportunities for the Golf Gloves Market in North America?
Expanding expenditure on outdoor activities influencing growth of market in North America
North America is estimated to dominate the Golf Gloves market share with a growth rate of 4.5%.
Due to the presence of more than half of the golf course providers, North America dominates the global market for golf apparel like gloves. The United States and Canada rank among the most significant markets in the world in terms of the overall number of golf courses and golfers.
As end-user demand shifts from aesthetics to practicality, golf gear producers are focusing on integrating cutting-edge materials to develop lightweight attire. In order to meet the player's comfort and mobility, great fashion and high performance are both factors in the design of golf gloves. Advanced fabrics that help with sweat absorbent are also applied widely.
Additionally, the US Department of Commerce and the US Commercial Service Travel and Tourism Team are trying to promote golf tourism in the US. This is also assisting in the growth of the U.S. golf gloves market to register at a CAGR of 3.8% over the forecast period.
The North America region has shown higher market share by revenue and is expected to follow this trend by the end of 2023, poised to register a moderate CAGR during the period of forecast.
What are the Factors Bolstering Demand for Golf Gloves in Asia Pacific?
Higher popularity of ice hockey in the region boosting market demand
By the end of 2033, the Asia Pacific Golf Gloves market is anticipated to grow with a CAGR of 5% during the assessment period.
Japan offers significant potential for a number of golf courses and golf-playing participants. The rise of the regional market has been encouraged by increased disposable incomes and rising health consciousness among people.
Also, to take advantage of the unexplored prospects in the region, international businesses are actively expanding there. Golf gloves that were significantly different from the present boxy and unattractive fashions widespread in the market were what the designer imagined after being inspired by watching golfers.
Golf gloves were designed with the goal of giving the user better grip, durability, and sweat absorption while playing golf. Owing to the aforementioned factors, the market for golf gloves is expected to reach a valuation of US$ 6.8 Mn in 2023.
Category-Wise Insights
Which Sales Channel of Golf Gloves is Propelling the Maximum Growth?
E-commerce adoption to propel maximum growth
The availability of golf gloves through a range of retail channels is providing fresh growth prospects for the industry. It has been incredibly notable that top golf gloves brands are now accessible through e-commerce platforms under different sales channels.
Additionally, it has reached new demographics in addition to meeting sales from Tier I and II metropolises in developing countries. Many Tier I and Tier II metropolises have substantial populations of golf lovers, but because there aren't many malls and name-brand stores the need has been met by knockoffs.
However, things are changing in favor of international brands as e-commerce businesses now offer less expensive home delivery of authentic golf gloves. Further e-commerce adoption is probably going to bode well for the prospects of the golf gloves market over the forecast period.
By material, which segment is highly benefitting the market growth?
Synthetic and leather golf gloves benefitting the sales of the market
Synthetic and leather golf gloves represent a significant revenue share of golf gloves in the US market, though, the revenue through non-marking gloves is projected to grow at a higher pace. Market players should focus on the needs of pro golf players as they want to make sure they wear the best golf shoes for them to compete and it could influence the followers and other people to follow the trend which could help companies to identify the emerging target segment.
Therefore, leather-type golf gloves will hold a market share of 33.7% and generate a market value of US$ 66.6 Mn by the end of 2023.
Start-Ups for Golf Gloves Market
Key start-up players in the Golf Gloves market include -
- Charlie Schaefer, Ralph Lauren’s former Senior Vice President of Design, launched Greyson in 2015 on golf's biggest stage: the Masters. He partnered with Morgan Hoffman to debut the Greyson collection on Augusta's fairways, which paid off big-time when Hoffmann not only made the cut but finished in the top 30. From all-over prints to bold solids, Hoffmann showcased Greyson's impressive range, which only continues to get more impressive. Now offering more than 15 polos, dozens of shorts and trousers, outerwear that spans from puffer vests and simple quarter-zips to cardigans and jackets, as well as lifestyle pieces such as hoodies, joggers, caps and bags, Greyson is a full-suite company with an even more impressive aesthetic range of designs, fabrics and patterns.
Market Competition
The industry is characterized by the presence of a few established players and new entrants. Key companies are diversifying their product offering to maintain their share and position in the global industry. Some of the key developments include -
- Grip Boost Inc., an innovator in grip technology solutions for athletes, today unveiled its Grip Boost Second Skin Golf Glove 2.0. The advanced golf glove harnesses unique technology to provide golfers with an unmatched grip and fit without the feeling of a heavy, uncomfortable glove. The technology, developed by former NFL and University of Maryland tight end Matt Furstenburgin partnership with the University of Maryland Chemical engineering department, uses science data to optimize and enhance a golfer's grip, comfort and control for maximum performance. The company's portfolio also features groundbreaking grip solutions for sports such as football and baseball.
Key Segments Profiled in the Golf Gloves Industry Survey
-
By Material Type :
- Leather
- Synthetic
- Hybrid
-
By Sales Channel :
- Independent Sports Outlet
- Franchised Sports Outlet
- Modern Trade Channels
- Direct to Customer Brand Outlet
- Direct to Customer Online Channel
- Direct to Customer Institutional Channel
- Third Party Online Channel
-
By Buyer Type :
- Individual
- Institution
- Promotional
-
By Region :
- North Americas
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
- FAQs -
What was the market worth for Golf Gloves in 2022?
As of 2022, the Golf Gloves market was worth US$ 197.4 Million.
At what value is the Golf Gloves industry likely to close by 2023?
Fact.MR foresees Golf Gloves demand to reach US$ 205.69 Million in 2023.
At what percentage will the market for Golf Gloves rise until 2033?
From 2023-2033, Fact.MR expects Golf Gloves revenue to flourish at a 4.2% CAGR.
What is the expected market value for Golf Gloves in 2033?
In 2033, Golf Gloves market worth is poised to reach US$ 310.38 Million.
How do growth prospects for Golf Gloves appear in North America?
North America is estimated to dominate the Golf Gloves market with a share of 32.6%.
How do growth prospects for Golf Gloves appear in Asia Pacific?
Asia Pacific region is anticipated to witness immense growth with China Golf Gloves market anticipated to grow with a share of 11.4% during the assessment period.
Which buyer type is expected to hold the maximum share for the Golf Gloves market?
Individuals account for 67.4% market share of the global market in 2023.