- The key vendors in the global golf apparel market 2015-2019 are Adidas AG, Callaway Golf Co., Nike Inc., and Under Armour Inc.
London, 4 June 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the global golf apparel market 2015-2019. The increasing demand from developing countries is a major trend that is expected to boost market growth of the global golf apparel market. In countries such as Brazil, China, and India the demand for golf apparels is increasing as a result of improved living standards, increasing interest in golf competitions, and enhancement of sports facilities. The global golf apparel market is expected to grow at a CAGR of 4.33% during the forecast period of 2014-2019.
Increased health consciousness and a constant desire to improve the work-life imbalance are major factors facilitating market growth of the global golf apparels. In addition, the rise in disposable income coupled with the increase in urbanization also promote growth of this market, especially in the developing countries. Besides, the use of online and offline marketing strategies such as social media initiatives and celebrity endorsements influence consumer preferences and help the large vendors to build brand equity.
“E-commerce provides end-users with a plethora of options to choose from. Growth in the e-commerce sector has promoted online retailing of golf apparel and it has become a major distribution channel in the market,” says Faisal Ghaus, Vice President of Technavio Research.
“The increased penetration of wireless broadband Internet and the high adoption of smartphones and tablets have led to a rise in online social networking.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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