COVID-19 Impact and Recovery Analysis- Global Golf Apparel, Footwear, and Accessories Market 2020-2024 | Growth of the Golf Tourism Industry to Boost Market Growth | Technavio
LONDON--(BUSINESS WIRE)--May 7, 2020--
The golf apparel, footwear, and accessories market is expected to grow by USD 2.82 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic. growth according to the latest market research report by Technavio. Request a free sample report
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200507005354/en/
Technavio has announced its latest market research report titled Global Golf Apparel, Footwear, and Accessories Market 2020-2024 (Graphic: Business Wire)
Experienced and amateur golfers often invest a significant amount of their time in popular golf tourism destinations. Many new regions have adopted golf as an important sport, thereby investing heavily in infrastructural enhancements pertaining to the game. For example, the GCC and Caribbean countries have become popular for golf tourism, driven by the availability of state-of-the-art facilities. Dubai and Abu Dhabi rank among the top 10 favorable destinations for golf tourism. They host many international golf events and competitions, including the MENA Golf Tour, Dubai Desert Classic, the Abu Dhabi Golf Championship, and the Qatar Masters. Apart from these developing countries, the US stands as one of the fastest-growing destinations for golf tour operators. Currently, the most popular golf tourism destinations are Spain, North America, and Portugal. Hence, the growth of the golf tourism industry is expected to boost the growth of the global golf apparel, footwear, and accessories market during the forecast period.
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR43333
As per Technavio, the rise in popularity of pro-golf tournaments will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Golf Apparel, Footwear, And Accessories Market: Rise in Popularity of Pro-golf Tournaments
The growing popularity of golf as a championship game can be attributed to the streaming of pro-golf events. The Ryder Cup, held in 2019, witnessed a 23% growth in viewership in 2019 as compared to 2014. Golf tournaments are further propelled by technological advances which have enabled the easy and convenient sharing of video content across various platforms, which include the social media. The European Tour has penetration in about 180 territories so far, with about 60 untapped territories. Superior distribution technology along with production techniques enables the increased visibility of different pro-golf tours around the world. Moreover, many young golfers of the age group between 6 years to 17 years also participated in the game. Thus, the rise in popularity of pro-golf tournaments is expected to drive the growth of the market.
“Factors such as better promotional strategies and growing social media presence, along with the rising demand for eco-friendly products will have a significant impact on the growth of the golf apparel, footwear, and accessories market during the forecast period,” says a senior analyst at Technavio.
Register for a free trial today and gain instant access to 17,000+ market research reports
Golf Apparel, Footwear, And Accessories Market: Segmentation Analysis
This market research report segments the golf apparel, footwear, and accessories market by distribution channel (offline and online), end-user (men, women, and children), product (apparel, footwear, and accessories), and geography (North America, Europe, APAC, South America, and MEA).
The North American region led the golf apparel, footwear, and accessories market in 2019, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the North American region is expected to register the highest incremental growth due to the growing prominence of golf tourism.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.Request a free sample report
Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focus 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.
View source version on businesswire.com:https://www.businesswire.com/news/home/20200507005354/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
INDUSTRY KEYWORD: TEXTILES SPORTS GOLF MANUFACTURING FASHION RETAIL DESTINATIONS VACATION TRAVEL
SOURCE: Technavio Research
Copyright Business Wire 2020.
PUB: 05/07/2020 06:30 AM/DISC: 05/07/2020 06:30 AM