China golf equipment and apparels market structure has changed in terms of the business model and distribution platform in the past one decade. The golf equipment and apparels market in China which includes golf clubs, golf balls and golf related accessories has expanded rapidly in the recent years. The growth of the overall GDP in the country, rising income levels and shifting consumption preferences of increasingly affluent consumers have stimulated the demand for golf equipment in the country. A combination of government support, golf associations and promotion of sporting programs such as golf for the public, China’s golfers which are gaining recognition at international golf events, world media exposure and rapid development of the economy have been the key drivers responsible for the strong growth of China golf equipment and apparels market in the last couple of years.
It has been observed that China golf equipment and apparels market is in the growing stage and has entered a phase rapid expansion in the last few years, growing a CAGR of 9.7% from 2008-2013. Amongst the 29 provinces of China, Beijing is the foremost famous market for golf equipment and apparels in the China which is followed by Shanghai, Guangzhou, Zhejiang and Jiangsu cities. This was one the fact that being the capital of China, many wealthy people, bureaucrats and corporate managers reside in Beijing. Additionally, Beijing has one of the highest numbers of golf courses in China. Beijing region accounted for 11.5% share in terms of 18-hole golf facilities distribution in China in 2013.
However, despite this development and growth, the market for golf equipment and apparels in China remains challenging with widespread competition amongst golf brands. Consumers are offered wide range of products to choose from, thereby giving them opportunity to compare price, quality and design. As a result, only products that significantly differentiate themselves in the market are capable of capturing the golfers and consumers demand. Some of the well known golf brands in the market are TaylorMade-Adidas Golf, Titleist, Callaway, Honma, Mizuno, XXIO, Nike, Srixon, Ping, Cleveland, Adams Golf, Maruman, Wilson Staff and Macgregor. TaylorMade-Adidas Golf has maintained the market leader position in the overall golf equipment and apparels market in China as of 2013. The vast golf product range and continuous R&D endeavors along with its popularity among the masses have been the key factors responsible for the dominant share of TaylorMade in China.
In future, the growth of golf equipment and apparels market in the next five years is expected to be moderate. The golf equipment and apparel revenue in the country will reach to reach USD 1.6 billion in 2018. Callaway Spokesperson said “China golf equipment and apparels market will not increase very fast in the next five years. However, golfer’s population is expected to incline. Further, the market completion is anticipated become more severe since many golf brands are expanding their business in the country.” Thus, the overall golf equipment and apparel market is anticipated to grow consistently at a CAGR of 10.8% during 2013-2018, similar to the last five year market growth trend. The various factors such as golf course developments, increasing people participation in golf, and incline in disposable income would be the primary factors that would be responsible for the growth of the golf equipment and apparels in China until 2018.
The report titled “China Golf Industry Outlook to 2018 – Steered by Rising Number of Golf Courses and Golfer’s Population” provides detailed overview on the golf Industry in China and will aids readers to identify the golf infrastructure, ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will help industry consultants, golf course operators, driving ranges owners, golf equipment and apparels manufacturing companies, suppliers and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.
Read more here-China golf equipment and apparels market Report