The Global Golf Bags Market size is expected to reach $2.3 billion by 2031, rising at a market growth of 9.3% CAGR during the forecast period. In the year 2023, the market attained a volume of 5,888.2 thousand units, experiencing a growth of 26.5% (2020-2023).
The travel bag segment acquired a promising revenue share in the golf bags market in 2023. Travel bags are essential for golfers who frequently travel with their equipment. These bags protect golf clubs and other gear during transit, whether by air, car, or other means. They are typically made from durable materials and feature padded interiors, reinforced corners, and secure straps to ensure the contents remain safe during travel. The increasing trend of golf tourism, with enthusiasts traveling to various destinations to play on renowned courses, has driven the demand for travel bags. Thus, the travel bag segment acquired 11.5% revenue share in the market 2023. In terms of volume 2,076.3 thousand units of travel bags are expected to be utilized by 2031.
Golf tourism refers to enthusiasts traveling domestically and internationally to play on renowned and often picturesque golf courses. One of the primary reasons golf tourisms boosts the demand for high-quality golf bags is the need for durability and ease of transport.
Additionally, this eco-friendly feature is particularly attractive to tech-savvy golfers who rely on their gadgets during their rounds. Therefore, technological advancements are driving the growth of the golf bags market.
However, golf is frequently perceived as expensive, a notion rooted in the substantial costs of high-quality golf equipment. From golf clubs to bags and accessories, the financial barrier to entry can be significant, which can deter potential customers, particularly those with limited budgets. Hence, the high cost of quality golf equipment, including golf bags, is a significant factor that can deter potential customers, especially those with limited budgets.
Product Outlook
Based on product, the market is divided into cart bag, stand bag, tour bag, travel bag, and pencil bag. The stand bag segment garnered 35.7% revenue share in the market in 2023. In terms of volume 5,403.4 thousand units of stand bag are expected to be utilized by 2031. Stand bags are highly popular among golfers due to their versatility and convenience.
Type Outlook
On the basis of type, the market is classified into hard and soft. The hard segment witnessed 27% revenue share in the market in 2023. In terms of volume the hard segment is expected to attain a volume of 4,249.6 thousand units by 2031. In Hard golf bags, such as travel cases and tour bags, are intended to offer the highest level of protection for golf equipment.
Regional Outlook
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment procured 18% revenue share in the market in 2023. In terms of volume the Asia Pacific region is expected to utilize 3,075.1 thousand units of golf bags by 2031. This region has seen a significant rise in the popularity of golf over the past few years, driven by economic growth, increasing disposable incomes, and a growing middle class.
List of Key Companies Profiled
- Acushnet Holdings Corp. (Magnus Holdings Co., Ltd)
- Topgolf Callaway Brands Corp.
- Taylor Made Golf Company, Inc. (CENTROID Investment Partners)
- PING, Inc.
- Mizuno Corporation
- Amer Sports
- Sun Mountain Sports, Inc. (SOLACE CAPITAL PARTNERS, LLC)
- Nike, Inc.
- Motocaddy
Global Golf Bags Market Report Segmentation
By Type (Volume, Thousand Units, USD Billion, 2020-2031)
By Product (Volume, Thousand Units, USD Billion, 2020-2031)
- Stand Bag
- Cart Bag
- Tour Bag
- Travel Bag
By Geography (Volume, Thousand Units, USD Billion, 2020-2031)
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 Global Golf Bags Market, by Type
- 1.4.2 Global Golf Bags Market, by Product
- 1.4.3 Global Golf Bags Market, by Geography
- 1.5 Methodology for the research
Chapter 2. Market at a Glance
Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
- 3.2.3 Market Opportunities
- 3.2.4 Market Challenges
- 3.3 Porter Five Forces Analysis
Chapter 4. Global Golf Bags Market by Type
- 4.1 Global Soft Market by Region
- 4.2 Global Hard Market by Region
Chapter 5. Global Golf Bags Market by Product
- 5.1 Global Stand Bag Market by Region
- 5.2 Global Cart Bag Market by Region
- 5.3 Global Tour Bag Market by Region
- 5.4 Global Travel Bag Market by Region
- 5.5 Global Pencil Bag Market by Region
Chapter 6. Global Golf Bags Market by Region
- 6.1 North America Golf Bags Market
- 6.1.1 North America Golf Bags Market by Type
- 6.1.1.1 North America Soft Market by Country
- 6.1.1.2 North America Hard Market by Country
- 6.1.2 North America Golf Bags Market by Product
- 6.1.2.1 North America Stand Bag Market by Country
- 6.1.2.2 North America Cart Bag Market by Country
- 6.1.2.3 North America Tour Bag Market by Country
- 6.1.2.4 North America Travel Bag Market by Country
- 6.1.2.5 North America Pencil Bag Market by Country
- 6.1.3 North America Golf Bags Market by Country
- 6.1.3.1 US Golf Bags Market
- 6.1.3.1.1 US Golf Bags Market by Type
- 6.1.3.1.2 US Golf Bags Market by Product
- 6.1.3.2 Canada Golf Bags Market
- 6.1.3.2.1 Canada Golf Bags Market by Type
- 6.1.3.2.2 Canada Golf Bags Market by Product
- 6.1.3.3 Mexico Golf Bags Market
- 6.1.3.3.1 Mexico Golf Bags Market by Type
- 6.1.3.3.2 Mexico Golf Bags Market by Product
- 6.1.3.4 Rest of North America Golf Bags Market
- 6.1.3.4.1 Rest of North America Golf Bags Market by Type
- 6.1.3.4.2 Rest of North America Golf Bags Market by Product
- 6.2 Europe Golf Bags Market
- 6.2.1 Europe Golf Bags Market by Type
- 6.2.1.1 Europe Soft Market by Country
- 6.2.1.2 Europe Hard Market by Country
- 6.2.2 Europe Golf Bags Market by Product
- 6.2.2.1 Europe Stand Bag Market by Country
- 6.2.2.2 Europe Cart Bag Market by Country
- 6.2.2.3 Europe Tour Bag Market by Country
- 6.2.2.4 Europe Travel Bag Market by Country
- 6.2.2.5 Europe Pencil Bag Market by Country
- 6.2.3 Europe Golf Bags Market by Country
- 6.2.3.1 Germany Golf Bags Market
- 6.2.3.1.1 Germany Golf Bags Market by Type
- 6.2.3.1.2 Germany Golf Bags Market by Product
- 6.2.3.2 UK Golf Bags Market
- 6.2.3.2.1 UK Golf Bags Market by Type
- 6.2.3.2.2 UK Golf Bags Market by Product
- 6.2.3.3 France Golf Bags Market
- 6.2.3.3.1 France Golf Bags Market by Type
- 6.2.3.3.2 France Golf Bags Market by Product
- 6.2.3.4 Russia Golf Bags Market
- 6.2.3.4.1 Russia Golf Bags Market by Type
- 6.2.3.4.2 Russia Golf Bags Market by Product
- 6.2.3.5 Spain Golf Bags Market
- 6.2.3.5.1 Spain Golf Bags Market by Type
- 6.2.3.5.2 Spain Golf Bags Market by Product
- 6.2.3.6 Italy Golf Bags Market
- 6.2.3.6.1 Italy Golf Bags Market by Type
- 6.2.3.6.2 Italy Golf Bags Market by Product
- 6.2.3.7 Rest of Europe Golf Bags Market
- 6.2.3.7.1 Rest of Europe Golf Bags Market by Type
- 6.2.3.7.2 Rest of Europe Golf Bags Market by Product
- 6.3 Asia Pacific Golf Bags Market
- 6.3.1 Asia Pacific Golf Bags Market by Type
- 6.3.1.1 Asia Pacific Soft Market by Country
- 6.3.1.2 Asia Pacific Hard Market by Country
- 6.3.2 Asia Pacific Golf Bags Market by Product
- 6.3.2.1 Asia Pacific Stand Bag Market by Country
- 6.3.2.2 Asia Pacific Cart Bag Market by Country
- 6.3.2.3 Asia Pacific Tour Bag Market by Country
- 6.3.2.4 Asia Pacific Travel Bag Market by Country
- 6.3.2.5 Asia Pacific Pencil Bag Market by Country
- 6.3.3 Asia Pacific Golf Bags Market by Country
- 6.3.3.1 China Golf Bags Market
- 6.3.3.1.1 China Golf Bags Market by Type
- 6.3.3.1.2 China Golf Bags Market by Product
- 6.3.3.2 Japan Golf Bags Market
- 6.3.3.2.1 Japan Golf Bags Market by Type
- 6.3.3.2.2 Japan Golf Bags Market by Product
- 6.3.3.3 India Golf Bags Market
- 6.3.3.3.1 India Golf Bags Market by Type
- 6.3.3.3.2 India Golf Bags Market by Product
- 6.3.3.4 South Korea Golf Bags Market
- 6.3.3.4.1 South Korea Golf Bags Market by Type
- 6.3.3.4.2 South Korea Golf Bags Market by Product
- 6.3.3.5 Singapore Golf Bags Market
- 6.3.3.5.1 Singapore Golf Bags Market by Type
- 6.3.3.5.2 Singapore Golf Bags Market by Product
- 6.3.3.6 Malaysia Golf Bags Market
- 6.3.3.6.1 Malaysia Golf Bags Market by Type
- 6.3.3.6.2 Malaysia Golf Bags Market by Product
- 6.3.3.7 Rest of Asia Pacific Golf Bags Market
- 6.3.3.7.1 Rest of Asia Pacific Golf Bags Market by Type
- 6.3.3.7.2 Rest of Asia Pacific Golf Bags Market by Product
- 6.4 LAMEA Golf Bags Market
- 6.4.1 LAMEA Golf Bags Market by Type
- 6.4.1.1 LAMEA Soft Market by Country
- 6.4.1.2 LAMEA Hard Market by Country
- 6.4.2 LAMEA Golf Bags Market by Product
- 6.4.2.1 LAMEA Stand Bag Market by Country
- 6.4.2.2 LAMEA Cart Bag Market by Country
- 6.4.2.3 LAMEA Tour Bag Market by Country
- 6.4.2.4 LAMEA Travel Bag Market by Country
- 6.4.2.5 LAMEA Pencil Bag Market by Country
- 6.4.3 LAMEA Golf Bags Market by Country
- 6.4.3.1 Brazil Golf Bags Market
- 6.4.3.1.1 Brazil Golf Bags Market by Type
- 6.4.3.1.2 Brazil Golf Bags Market by Product
- 6.4.3.2 Argentina Golf Bags Market
- 6.4.3.2.1 Argentina Golf Bags Market by Type
- 6.4.3.2.2 Argentina Golf Bags Market by Product
- 6.4.3.3 UAE Golf Bags Market
- 6.4.3.3.1 UAE Golf Bags Market by Type
- 6.4.3.3.2 UAE Golf Bags Market by Product
- 6.4.3.4 Saudi Arabia Golf Bags Market
- 6.4.3.4.1 Saudi Arabia Golf Bags Market by Type
- 6.4.3.4.2 Saudi Arabia Golf Bags Market by Product
- 6.4.3.5 South Africa Golf Bags Market
- 6.4.3.5.1 South Africa Golf Bags Market by Type
- 6.4.3.5.2 South Africa Golf Bags Market by Product
- 6.4.3.6 Nigeria Golf Bags Market
- 6.4.3.6.1 Nigeria Golf Bags Market by Type
- 6.4.3.6.2 Nigeria Golf Bags Market by Product
- 6.4.3.7 Rest of LAMEA Golf Bags Market
- 6.4.3.7.1 Rest of LAMEA Golf Bags Market by Type
- 6.4.3.7.2 Rest of LAMEA Golf Bags Market by Product
Chapter 7. Company Profiles
- 7.1 Acushnet Holdings Corp. (Magnus Holdings Co., Ltd)
- 7.1.1 Company Overview
- 7.1.2 Financial Analysis
- 7.1.3 Segmental and Regional Analysis
- 7.1.4 Research & Development Expenses
- 7.2 Topgolf Callaway Brands Corp.
- 7.2.1 Company Overview
- 7.2.2 Financial Analysis
- 7.2.3 Segmental and Regional Analysis
- 7.2.4 Research & Development Expenses
- 7.3 Taylor Made Golf Company, Inc. (CENTROID Investment Partners)
- 7.4 PING, Inc.
- 7.5 Sun Mountain Sports, Inc. (Solace Capital Partners, LLC)
- 7.6 Motocaddy
- 7.7 Mizuno Corporation
- 7.7.1 Company Overview
- 7.7.2 Financial Analysis
- 7.7.3 Regional Analysis
- 7.8 Amer Sports
- 7.8.1 Company Overview
- 7.8.2 SWOT Analysis
- 7.9 Nike, Inc.
- 7.9.1 Company Overview
- 7.9.2 Financial Analysis
- 7.9.3 Segmental Analysis
- 7.9.4 SWOT Analysis
Chapter 8. Winning Imperatives of Golf Bags Market