Jackson Reid
The golf industry is experiencing significant growth and diversification. The COVID-19 pandemic played a pivotal role in boosting participation, particularly among women and golfers of colour, with a notable net increase of 2.3 million females and 2.1 million golfers of colour. This surge in popularity has led to a thriving golf tourism industry, with developing countries investing heavily in golf courses to attract international golf travellers. Additionally, innovative golf media companies, such as Fried Egg Golf, are gaining traction within the industry and contributing to its overall expansion. The golf club market is projected to reach USD 4799.63 million by 2028, reflecting a compound annual growth rate of 5.91%. These factors collectively indicate that the golf industry is not only growing but also evolving to become more inclusive and accessible to a wider audience.
| Characteristics | Values |
|---|---|
| Increase in the pool of potential golfers since 2019 | 55% |
| Number of rounds played in the U.S. in 2024 | 545 million |
| Number of Americans aged 6+ who played golf in 2024 | 47.2 million |
| Number of people who played on a golf course in 2024 | 28.1 million |
| Number of people who participated in off-course golf activities in 2024 | 19.1 million |
| Global golf clubs market size in 2022 | USD 3400.28 million |
| Expected global golf clubs market size in 2028 | USD 4799.63 million |
| Expected CAGR for global golf clubs market | 5.91% |
| Fastest-growing companies in golf media | Fried Egg Golf |
| Growth rate of golf tourism | 12% annually |
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What You'll Learn
Golf's growing diversity
Firstly, the sport has witnessed a notable increase in participation rates, with a 55% growth in potential golfers since 2019. This surge includes both "lapsed golfers" returning to the game and newcomers exploring off-course golf activities. The total number of Americans aged 6 and older who played golf in 2024 reached 47.2 million, showcasing a diverse range of engagement across different age groups.
Golf tourism is another area where diversity is flourishing. The sport's global awareness is rapidly increasing, with demand and supply rising at a steady rate of 12% annually. Developing countries are actively investing in golf tourism, recognizing the higher spending power of golf tourists. For example, Kenya has developed eight 'Export-ready' golf courses, catering to international golf travelers, and was voted the 'Undiscovered Golf Destination of the Year' by the International Association of Golf Tour Operators (IAGTO) in 2009.
Additionally, the golf industry is embracing diversity in media representation. Fried Egg Golf, founded by Andy Johnson, has become one of the fastest-growing companies in golf media. Fried Egg Golf started as a newsletter and has since expanded into different formats, including podcasts and shows like "Full Swing" on Netflix. Their content explores various aspects of the sport, including golf course architecture, and has gained a dedicated following within the industry.
The golf industry's efforts to diversify are also reflected in initiatives like The First Tee and Iron Lady Golf, which promote and expand the sport's reach to younger generations and diverse audiences. These programs, along with the support of professional tours and organizations, contribute to making golf more accessible and inclusive.
While the industry continues to work on "growing the game," the diverse developments in participation, tourism, and media representation showcase a positive trend towards a more vibrant and inclusive golfing landscape.
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Golf tourism's popularity
Golf tourism has seen a significant rise in popularity globally, with the industry projected to reach USD 41-41.87 billion by 2030, growing at a CAGR of 6.6%-9.1% from 2023-2025. The sport has emerged as a professional, amateur, and leisure activity, with golfers seeking new and challenging courses in scenic locations, turning a simple round of golf into a memorable travel experience.
Europe has long been a premium golf tourism destination, with Spain, Portugal, and Scotland being the most popular hotspots. The continent's strong infrastructure, historical association with the sport, and diversity of courses attract many different levels of golfers. The UK market, home to the birthplace of golf, remains a significant player in global golf tourism, with world-renowned courses like St. Andrews and Royal Birkdale.
The Japanese market is also emerging as a golf tourism hub in Asia, spurred by the increasing popularity of golf on the continent and high-quality golf courses. Japan offers unique cultural experiences in combination with world-class golfing facilities to both domestic and international golfers.
One of the primary drivers of golf tourism is the rising disposable income of consumers, particularly in emerging markets across Asia-Pacific and the Middle East, where golf is gaining popularity among affluent travelers. As a result, countries like China, South Korea, and the United Arab Emirates are witnessing a surge in demand for high-end golf resorts.
Additionally, the expansion of luxury golf resorts offering comprehensive amenities such as spa services, fine dining, and family-oriented activities is fueling the market's growth. Golf is also widely regarded as a sport that fosters connections, making it a popular choice for business travel, corporate events, and networking retreats. The rise of golf tourism packages that combine work and play creates new opportunities for the market.
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Golf media companies
The golf industry is experiencing unprecedented diversity and growth, with a net increase of 2.3 million female golfers and 2.1 million golfers of colour since the start of the pandemic. Women and girls have been significant drivers of this growth, accounting for around 60% of the net gain in green grass golfers since 2019. This has resulted in a female golfer population of nearly 7.9 million, an all-time high.
Golf.com is another popular golf media company that provides expert advice and instruction from the top 100 teachers in the world. They have a significant social media presence with over 776,800 Facebook followers, 490,300 Twitter followers, and 740,700 Instagram followers.
Other notable golf media companies include SCOREGolf, the most respected and integrated golf media brand in Canada, and Global Golf Post, the leading weekly golf publication worldwide. Bunkered Magazine, based in Scotland, is also a comprehensive golf resource, offering news and a forum for discussing all things golf.
Golf Pulp Media is a marketing agency that connects brands directly with engaged golfers through their vast email database. They create tailored campaigns for golf businesses, leveraging their deep understanding of the golf market and golfer preferences to drive sales and enhance brand loyalty.
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Golf club market growth
The golf industry is growing, with the sport's demographics becoming more reflective of America's changing population. Women and girls have been key drivers of this growth, with female golfers accounting for approximately 60% of the net gain in green grass golfers since 2019. The female golfer population has now reached nearly 7.9 million, an all-time high.
Golf tourism is also gaining popularity worldwide, with developing countries investing heavily in golf courses to attract international golf travellers. The International Association of Golf Tour Operators (IAGTO) reported that operators in Africa posted a 20% increase in sales on average.
The media side of the golf industry is also expanding, with companies like Fried Egg Golf producing innovative content and gaining a wide audience. Fried Egg Golf started as a newsletter in 2015 and has since grown to a company with 14 full-time staff, producing course prints, and a popular podcast.
The golf club market is expected to continue this growth trend. Valued at USD 3400.28 million in 2022, it is forecast to expand at a CAGR of 5.91%, reaching USD 4799.63 million by 2028. This growth will be driven by geographic segmentation, with the Asia-Pacific region expected to be a key market, including countries such as China, Japan, Korea, and India.
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Industry leaders' efforts
The golf industry is constantly evolving, with a recent boom in participation since 2020, and industry leaders are making efforts to sustain this growth.
One notable development is the emergence of Fried Egg Golf, a media company that has built a strong reputation in the industry by focusing on golf course architecture and producing insightful content. Fried Egg Golf started as a newsletter in 2015 and has since expanded its offerings to include course prints and podcasts, gaining support from prominent figures in the golf world.
Golf equipment manufacturers, such as Callaway Golf, are also contributing to the industry's growth. Callaway exceeded $3 billion in revenue in 2021, and companies like Ping, TaylorMade, and Cobra Golf are investing in research and development to create advanced golf clubs with composite materials and technological features. These innovations cater to the demands of both young consumers seeking trendy equipment and experienced golfers looking for technical specifications.
The online distribution segment is expected to experience significant growth, with the rise of e-commerce and the preference for online platforms among younger generations. Golf course operators are embracing technology to enhance the customer experience, and golfers are utilising tech offerings to improve their performance and booking processes.
Additionally, the sport is witnessing unprecedented diversity, with a notable increase in female golfers and golfers of colour since the start of the pandemic. These changes reflect the industry's efforts to create a more inclusive environment, setting the stage for continued growth and diversification in the years ahead.
The golf industry is indeed growing and evolving, and industry leaders are playing a crucial role in driving this progress through innovation, inclusivity, and adaptation to modern trends.
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Frequently asked questions
Yes, the golf industry is growing. The global golf club market was valued at USD 3400.28 million in 2022 and is expected to expand at a CAGR of 5.91% during the forecast period, reaching USD 4799.63 million by 2028.
The golf industry is growing in terms of participation and representation. There has been a net increase of 2.3 million females and 2.1 million golfers of colour since the start of the pandemic. The female golfer population has now reached nearly 7.9 million, an all-time high.
Yes, golf tourism is gaining popularity worldwide. Developing countries have also invested in golf tourism, recognising that golf tourists tend to outspend the average tourist. Golf tourism is estimated to be rising at a rate of 12% annually.
