The global golf ball market size was valued at USD 1.31 billion in 2022 and is projected to reach USD 1.58 billion by 2030, growing at a CAGR of 2.4% from 2023 to 2030. Key factors fueling this growth include the promotion of golf tourism, development of new golf courses, and increasing consumer disposable income.

Around the world, governments actively support the sport by organizing tournaments, conducting workshops, and investing in building professional golf courses, all aimed at boosting tourism. These initiatives contribute significantly to the market’s expansion during the forecast period. Technological innovations in golf equipment are also anticipated to positively influence market growth. A notable example is Seamless Cover Technology (SCT), which creates a non-uniform joint around the golf ball, improving its aerodynamics and accuracy. This technology reduces aerodynamic drag, enabling golfers to hit longer distances with less effort and spin.

Golf has evolved into a lifestyle sport, carrying an aura of prestige. It offers not only competitive spirit but also physical exercise and entertainment. Many countries leverage golf as a tourism driver by hosting events that attract both international and local visitors. Beyond recreation, golf is increasingly seen as a tool for community and regional development. Consequently, the sport’s growing popularity is expected to support rising demand for golf balls throughout the forecast period.

Key Market Trends & Insights:

• North America held a dominant position in the market, capturing the largest revenue share of 37.9% in 2022. This strong regional performance highlights the significant demand and well-established golf culture within North America during that year.

• When examining the market by product type, the 4-piece golf ball segment led with the highest revenue share, accounting for 37.7% of the total market revenue in 2022. This indicates a strong preference among consumers for the advanced features and performance benefits typically offered by 4-piece golf balls.

• Looking ahead, the 2-piece golf ball segment is projected to experience the fastest growth, with an expected CAGR of 2.6% from 2023 to 2030. This suggests increasing popularity and adoption of 2-piece golf balls, likely due to their affordability and suitability for a wide range of players.

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Market Size & Forecast:

• 2022 Market Size: USD 1.31 billion

• 2030 Projected Market Size: USD 1.58 billion

• CAGR (2023-2030): 2.4%

• North America: Largest market in 2022

• Asia Pacific: Fastest growing market

Key Companies & Market Share Insights:

Recently, there has been a noticeable increase in the popularity of golf as both a sport and a leisure activity in emerging markets, particularly in Asian countries like China and India. This surge can largely be attributed to rising disposable incomes and improvements in the overall standard of living, combined with a growing focus on leisure and recreational pursuits. These factors are expected to significantly drive the expansion of golf participation in these regions.

To capitalize on this trend, companies are actively forming partnerships and collaborations with resorts and hotels around the world. These alliances aim to develop and enhance golf facilities, as well as provide high-quality equipment, thereby promoting the sport to a wider audience. Additionally, many companies are pursuing mergers and acquisitions as strategic moves to accelerate their growth and expand their market presence. A notable example of this approach occurred in November 2021 when Nassau Golf Co. Ltd, a Korea-based company, acquired TaylorMade Golf for an undisclosed amount. This acquisition led to the creation of TM Golf Ball Korea, which now operates alongside TaylorMade's other golf ball manufacturing facilities. This deal represents TaylorMade’s third vertical integration within its golf ball manufacturing segment, reinforcing its position and capabilities in the industry.

Key Players

• Callaway Golf Company.

• Dixon Golf,

• Mizuno Corporation

• Bridgestone Golf, Inc.

• Sumitomo Rubber Industries, Ltd.

• TaylorMade Golf Co.Acushnet Holdings Corp.

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Conclusion:

The golf ball market is expected to experience steady growth driven by increasing golf participation, rising disposable incomes, and expanding golf tourism. Technological advancements in golf ball design are enhancing performance, while growing interest in golf as both a sport and leisure activity supports market demand globally. Collaborations and strategic acquisitions among key players further strengthen market growth prospects.