In 2024, Topgolf Callaway Brands Corp. had net sales amounting to around 4.24 billion U.S. dollars. Established in 1982 by Ely Callaway, Topgolf Callaway Brands Corp. sells golf clubs, golf balls, as well as apparel, and footwear, and is one of the largest golf equipment companies in the world. Topgolf Callaway Brands Corp. revenue Between 2009 and 2016, Callaway's revenue had followed a downward trend, however, in 2017, company sales had exceeded one billion U.S. dollars once more. The company's revenue doubled in 2021, as a result of its merger with Topgolf in addition to a good year in terms of golf equipment sales, and reached an all-time high in 2023. The company was subsequently renamed from Callaway Golf to Topgolf Callaway Brands Corp.. The golf club segment, which generated slightly over one billion U.S. dollars in 2024 alone, was the second-most lucrative product category. The United States is Topgolf Callaway Brands Corp.’s main market, as a majority of its annual revenue is typically generated here. Asia and Europe are likewise important markets, accounting for about one billion U.S. dollars in sales in 2024. Professional golfer sponsorships Besides selling sports equipment and clothing, Topgolf Callaway Brands Corp. also sponsors several professional golf players from different tours, including PGA and LPGA. Some of Topgolf Callaway Brands Corp.’s valuable athlete assets include Sam Burns, Xander Schauffele, and Ruoning "Ronni" Yin. As of 2025, some of the highest earners on the PGA Tour included Phil Mickelson, Rory Mcllroy, and in first place, Tiger Woods.

This graph depicts the net sales of Topgolf Callaway Brands Corp. from 2017 to 2024, broken down by product category. In 2024, Topgolf Callaway Brands Corp. reported some one billion U.S. dollars in golf club sales. As a result of a company merger, Topgolf Callaway Brands Corp. generated over 1.7 billion U.S. dollars from its new Topgolf venues operating segment in 2024.

This graph depicts the gross profit of Callaway Golf from 2015 to 2020. In 2020, Callaway Golf's gross profit amounted to roughly 658 million U.S. dollars, a decrease of over 100 million compared to the previous year. The Callaway Golf company designs, manufactures, markets and sells golf equipment, golf accessories and golf lifestyle-related products.

In 2024, Topgolf Callaway Brands Corp. had net sales of over 3.1 billion U.S. dollars in the United States. In the company’s second-largest market, Europe, just over 511 million U.S. dollars was made. That year, the golf equipment enterprise generated over 4.2 billion U.S. dollars’ worth of net sales in total. Topgolf Callaway Brands Corp. and Acushnet Established in 1982 by Ely Callaway, Topgolf Callaway Brands Corp. designs, manufactures, markets, and sells golf clubs, golf balls, as well as apparel and footwear, and is one of the largest golf equipment companies in the world. Acushnet, which is also an American manufacturer focused on golf products and one of Callaway’s main competitors, generated nearly 2.5 billion U.S. dollars of revenue in 2024. The U.S. golf course & country club industry In 2022, there was a forecast total of 9,052 golf courses and country clubs located across the United States, which is a drop of over 1,000 locations compared to 10 years earlier. While the number of courses and clubs in the country may have decreased over the last decade, the industry’s U.S. market size has remained relatively consistent between 2014 and 2023.

The global golf clubs market, valued at $5156.33 million in 2025, is projected to experience steady growth, driven by increasing participation in golf, particularly among younger demographics and women. Technological advancements in club design, materials, and manufacturing processes are leading to improved performance and enhanced player experience, further fueling market expansion. The leisure segment currently dominates the market, with a significant portion of sales stemming from recreational golfers. However, the professional segment is exhibiting robust growth, driven by endorsements and increasing investment in professional golf tournaments. Geographic expansion, particularly in emerging markets with growing disposable incomes and an increasing interest in golf, is another key driver. While economic fluctuations and the inherent seasonality of the sport can pose some challenges, the long-term outlook for the golf clubs market remains positive, anticipating a continued rise in market size over the forecast period (2025-2033). The competitive landscape is characterized by established players like Callaway Golf, TaylorMade, and Ping, alongside emerging brands focusing on innovative designs and technology. These companies employ various competitive strategies, including product differentiation, sponsorship deals, and strategic partnerships to gain market share. The market exhibits regional variations in demand, with North America and Europe holding significant market shares due to established golf culture and infrastructure. However, rapid growth is anticipated in the Asia-Pacific region, particularly in countries like China and India, fueled by the rising middle class and increased golf course development. This growth, coupled with continuous technological innovations, is expected to lead to considerable market expansion in the coming years. The industry faces challenges such as material costs, fluctuating exchange rates, and maintaining product innovation to stay ahead of the competition.

According to Cognitive Market Research, the global Golf Equipment Manufacturing market size was USD 10812.41 million in 2024. It will expand at a compound annual growth rate (CAGR) of 5.20% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 3033.00 million in 2024 and will rise at the compound annual growth rate (CAGR) of 3.4% from the year 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 2274.75 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 1743.98 million in 2024 and will rise at the compound annual growth rate (CAGR) of 7.2% from the year 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 379.13 million in 2024 and will rise at a compound annual growth rate (CAGR) of 4.6% from the year 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 151.65 million in 2024 and will rise at the compound annual growth rate (CAGR) of 4.9% from the year 2024 to 2031.
The online category is the fastest growing segment of the Golf Equipment Manufacturing industry

Market Dynamics of Golf Equipment Manufacturing Market

Key Drivers for Golf Equipment Manufacturing Market

Growing Popularity of Golf Globally to Boost Market Growth

The key driving factor for the golf equipment manufacturing market is the growing global popularity of the sport, particularly in emerging markets. Golf is no longer restricted to traditional regions like North America and Europe; Asia-Pacific, especially countries like Japan, China, and South Korea, are experiencing a surge in the number of players and courses. This trend is driving demand for high-quality golf equipment, ranging from clubs to balls, apparel, and accessories. The rise of international tournaments, increasing middle-class participation, and enhanced media coverage contribute to making golf a popular recreational and competitive sport. As more individuals embrace the sport, golf equipment manufacturers are experiencing higher demand for specialized, durable, and performance-enhancing products, stimulating innovation and product diversification in the market. For instance, Callaway Golf launched a new Rogue Family of irons, fairway woods, hybrids, and drivers. Such initiatives are further foreseen to drive demand in the coming years

Technological Advancements in Golf Equipment to Drive Market Growth

The continuous technological innovation in golf equipment, which enhances players' performance, drives the market growth. Manufacturers are increasingly integrating advanced materials such as carbon fiber, titanium, and composite alloys to develop lighter, more aerodynamic clubs and balls, which improve swing speed, accuracy, and distance. Moreover, equipment like high-tech rangefinders and smart golf watches are gaining popularity, allowing players to track performance metrics in real time. Customizable equipment that can be tailored to individual playing styles and preferences is also in demand. These innovations attract both professional and amateur players seeking improved game performance, fueling the growth of the golf equipment manufacturing market.

Restraint Factor for the Golf Equipment Manufacturing Market

Environmental Concerns and Sustainability Challenges Will Limit Market Growth

Golf equipment manufacturing faces increasing scrutiny due to its environmental impact, which acts as a restraining factor in the market. The production of golf balls, clubs, and other gear often involves the use of non-renewable resources, toxic chemicals, and energy-intensive processes. This contributes to carbon emissions and waste generation, clashing with the growing global emphasis on sustainability. Additionally, the materials used in many high-end products, such as titanium and exotic composites, raise concerns about sourcing and disposal. As consumers and regulators push for eco-friendly alternatives, manufacturers may encounter rising costs in shifting toward sustainable practices, including material innovation and process optimization.

Impact of Covid-19 on the Golf Equipment Manufacturing Market

The COVID-19 pandemic had a mixed impact on the golf equipment manufacturing market. Initially, production and sales...

Acushnet, one of the leading manufacturers of golf equipment in the world, had global sales amounting to around **** billion U.S. dollars in fiscal 2024. Net sales of both Topgolf Callaway Brands Corp. and Acushnet Holidngs Corp. used to be extremely close, but in the most recently reported financial years, Callaway became the clear front-runner. Golf Golf is a club-and-ball sport in which players use various clubs to hit a golf ball into a series of holes on a course in as few strokes as possible. Not only is golf a major spectator sport around the world, it is also a popular recreational sport in many countries. Golf, unlike most ball games, cannot and does not utilize a standardized playing area. Navigating the varied terrains of the courses is a key part of the game. Golf is very popular is Europe, with a substantial number of courses scattered across the continent. Golf equipment Golf is quite an expensive hobby, with players needing to purchase all the equipment necessary to play, such as clubs, balls, and special apparel. Players may also need to pay an annual membership fee to be part of a club, or green fees to play on a golf course not included in their membership. The import and export of clubs and golf equipment is also a big industry: in 2023, approximately ****million U.S. dollars' worth of golf clubs was imported to the United States.

The global golf clubs market, encompassing woods, irons, putters, wedges, and hybrids, is a dynamic landscape characterized by consistent growth driven by increasing participation in the sport, particularly among younger demographics and the rising popularity of golf tourism. The market size in 2025 is estimated at $2.5 billion, based on industry analysis and considering average growth rates observed in related sporting goods sectors. A compound annual growth rate (CAGR) of 5% is projected from 2025 to 2033, pushing the market value to approximately $3.8 billion by 2033. Key growth drivers include technological advancements leading to improved club performance (e.g., lighter materials, enhanced aerodynamics), the expanding influence of social media and professional golf tournaments in promoting the sport, and a growing emphasis on customized fittings to optimize player performance. Online sales are experiencing rapid expansion, challenging traditional offline retail models, while the increasing popularity of shorter formats of golf (like FootGolf) and innovative practice aids are creating new market opportunities. However, economic downturns and fluctuating raw material prices pose significant restraints on market growth. Segmentation by club type reveals that irons consistently hold the largest market share, followed by woods and putters. Regional analysis suggests North America and Europe currently dominate the market due to high participation rates and established golfing infrastructure. However, developing economies in Asia-Pacific are experiencing significant growth, driven by an expanding middle class with increased disposable income. The competitive landscape is dominated by established players like Callaway, TaylorMade, and Acushnet, who leverage extensive brand recognition and strong distribution networks. However, newer entrants and specialized brands are making inroads by focusing on niche segments, such as premium clubs or technologically advanced designs. Growth strategies for manufacturers involve strategic partnerships with professional golfers and golf courses, emphasizing customization and personalization, and investing in research and development to stay at the forefront of technological innovation. Furthermore, sustainability initiatives, focusing on environmentally friendly materials and manufacturing processes, are gaining traction among consumers and shaping future market dynamics. The next decade will likely witness greater consolidation in the industry as companies strive for market share dominance and adapt to changing consumer preferences. The rise of e-commerce and subscription services will necessitate adaptation and investment in digital marketing strategies.

The global golf gear market is experiencing robust growth, driven by increasing participation in the sport, particularly among younger demographics, and a rising interest in improving performance through technologically advanced equipment. The market's value, while not explicitly stated, can be reasonably estimated based on the presence of major players like Nike, Adidas, and Titleist, indicating a substantial market size. The Compound Annual Growth Rate (CAGR), although unspecified, is likely within the range of 5-8% considering the steady popularity of golf and ongoing innovation in product design and materials. Key drivers include the introduction of lighter, more durable materials, technologically advanced club designs offering improved accuracy and distance, and the increasing availability of personalized fitting services. Furthermore, the rise of wearable technology integrated into golf gear, such as GPS devices and swing analyzers, is fueling market expansion. However, economic downturns and the relatively high cost of golf equipment can act as restraints, particularly affecting less affluent consumers. Market segmentation likely includes clubs (woods, irons, wedges), balls, bags, apparel, and accessories, each segment exhibiting unique growth trajectories based on consumer preferences and technological advancements. The competitive landscape is characterized by a mix of established brands like Nike and Adidas, alongside specialized golf equipment manufacturers such as Titleist and Callaway. These companies are engaged in intense competition, focusing on product innovation, marketing, and endorsements to maintain market share. Regional variations in market size and growth are expected, with North America and Europe likely holding significant market share due to established golf cultures and higher disposable incomes. However, the rising middle class in Asia and other emerging markets presents a significant growth opportunity for golf gear manufacturers in the coming years. The forecast period (2025-2033) will likely witness continued growth, driven by technological advancements, rising participation rates, and expansion into new markets. Strategic partnerships, mergers, and acquisitions are also expected to shape the competitive landscape during this period.

This graph depicts the net income of Topgolf Callaway Brands Corp. from 2007 to 2024. In 2024, the company reported a net loss of about 1.4 billion U.S. dollars. Topgolf Callaway Brands Corp. designs, manufactures, markets and sells golf equipment, golf accessories and golf lifestyle-related products.

Download Free Sample
The golf equipment market is expected to grow at a CAGR of 2% during the forecast period. Increasing focus on healthy lifestyles, drivers.2, and drivers.3 are some of the significant factors fueling golf equipment market growth.

Increasing focus on healthy lifestyles

Market definition Golf equipment includes a wide range of products that are used by the golfer in the process of playing golf. This includes golf clubs, golf balls, golf bags, and golf shoes. To calculate the market size, the report has taken into consideration the revenue generated from the retail sales of golf equipment to individual consumers. Golf facility operations contribute the largest share of revenue to the golf economy. They generate their revenues from membership fees, range fees, golf car rentals, and associated spending on food and beverages. The revenue generated helps in supporting the supply sectors, including golf equipment manufacturers. Golf supplies mainly include golf equipment such as golf balls, golf carts, tees, golf apparel, golf clubs, rangefinders, and golf books. The global gold equipment market considers the following categories: By product segment includes: Golf clubs Gol balls Golf bags Golf shoes By retail formats segment includes: Offline Online The geographic coverage of the report is global with the following segments: North America Europe APAC South America MEA The exhibit below provides an illustrative view of the offerings that are included to create the market definition of the global golf equipment market. This market definition has a significant impact on the market sizing provided in the report. Offerings of vendors included in the market definition Vendor Products included in the market definition Acushnet Holdings Corp. Men's UA Storm Speedround Golf Bag and Men's UA Spieth 4 GORE TEX Golf Shoes Amer Sports Corp. Wilson Staff Women's Cart and Weekender Bag and Wilson Staff Women's Cart Bag Bridgestone Corp. TOUR B JGR Fairway Woods and 14 way stand bag Callaway Golf Co. Chrome Soft Golf Balls and MAVRIK Staff Bag Mizuno Corp Mizono balls and Mizono bags Nike Inc. Nike Air Max 270 G and Nike Sport Lite Golf Bag PUMA SE Women IGNITE Blaze Pro Golf Shoes and Women IGNITE Blaze Sport DISC Golf Shoes Ralph Lauren Corp RLX Nylon Golf Stand Bag Sumitomo Rubber Industries Ltd. Golf equipment Under Armour Inc. Men's UA Storm Speedround Golf Bag and Men's UA Spieth 4 GORE TEX Golf Shoes
Market segment analysis The global golf equipment market has been analyzed based on various dimensions and segments to help suppliers within the industry gain a better understanding of the structure of current demand and the components of demand that will drive growth in the future. It is expected that suppliers in the global golf equipment market outperform the overall industry would focus on the higher potential segments within the market. The product, retail formats, and geography segments of the global golf equipment market have been reviewed both qualitatively and quantitatively. Market segments Segment name Description Product Golf clubs, golf balls, golf shoes, and golf bags. Retail formats Offline and online Geography North America, Europe, APAC, MEA, and South America
Market size 2019 Recent trends and developments in the global golf equipment market have been tracked and quantified to size the market in 2019. The market size for 2019 has been developed by considering the following factors. To estimate the size of the global golf equipment market, Technavio has tracked the recent trends and developments in the industry. The market size has been developed in terms of value and volume, considering the following factors: Revenues: Taken in local currencies, if not available in US dollars, for each country and vendor and then converted to US dollars using the yearly average currency exchange rate of 2019, the base year. This implies that the figures reflect industry trends, not distorted by fluctuations in international exchange rates. Exclusions: The report does not consider the effect of inflation and price fluctuations during the forecast period Currency: Unless explicitly mentioned, all revenues are represented in US dollars The market sizing has been built and validated using multiple demand-side and supply-side approaches for a detailed understanding of the global golf equipment market. The specific market sizing approaches used for evaluating the global golf equipment market are: Top down: Validated the market based on the contribution of golf equipment to the global leisure products market Segmental extrapolation: Validated the market based on extrapolation of the size of one or more segments of the market Combination: Using a combination of more than one approaches described above and integrating the results in the data model Within the above-mentioned market sizing models, analysts have made assumptions and estimates listed below: Revenue generated by the leisure products companies man

The golf equipment market, while mature, shows consistent growth fueled by increasing participation, particularly among younger demographics. The children's golf club segment, although a smaller portion of the overall market, is experiencing robust expansion driven by a rising interest in introducing children to the sport at younger ages. Parents are increasingly seeking out high-quality, age-appropriate equipment that fosters skill development and enjoyment, leading to a demand for lightweight, durable, and ergonomically designed clubs. This trend is further supported by the proliferation of junior golf programs and academies, creating a sustained demand for specialized children's golf clubs. While precise market size figures are unavailable, a reasonable estimation, considering the overall golf equipment market and growth trends, places the children's golf club market at approximately $200 million in 2025, with a compound annual growth rate (CAGR) of 5% projected through 2033. This growth is expected to be driven by increased participation in junior golf programs, the rising disposable incomes in developing economies and the increasing focus on healthy outdoor activities for children. Key players like Bridgestone Golf, Callaway Golf, and TaylorMade are actively involved in this segment, either through dedicated product lines or strategic partnerships. However, the market also presents opportunities for smaller niche players who can focus on specific age groups or innovative club designs. Challenges include managing production costs to maintain competitive pricing and ensuring the clubs meet stringent safety standards. Future market growth hinges on continued investment in youth golf programs, the development of innovative designs that cater to children's specific needs, and effective marketing strategies that engage parents and children alike. The market's relatively smaller size compared to adult golf clubs suggests a significant untapped potential for growth as participation rates in junior golf continue to climb.

Discover the booming golf club and sets market! Our analysis reveals a $2.5B market in 2025, projected to reach $4.2B by 2033 with a 6% CAGR. Explore key trends, leading companies (Callaway, TaylorMade, Ping), and regional growth opportunities in this detailed market report.

According to Cognitive Market Research, The Global Golf Apparel market size will be USD 4.2 billion in 2023 and will grow at a compound annual growth rate (CAGR) of 6.60% from 2023 to 2030.

The demand for the golf apparel market is rising due to rising disposable incomes and increased health consciousness among individuals.
Demand for Retail remains higher in the golf apparel market.
The Adults category held the highest golf apparel market revenue share in 2023.
North America will continue to lead, whereas the Asia Pacific golf apparel market will experience the strongest growth until 2030.

Rising Popularity of Golf as a Recreational Activity to Provide Viable Market Output

The golf apparel market has been significantly influenced by the growing popularity of golf as a recreational activity worldwide. Golf has transitioned from being an exclusive sport to a more inclusive and accessible one, attracting a wider demographic, including women and younger players. As a result, the consumer base for golf apparel has expanded, driving demand for stylish, comfortable, and performance-oriented golf attire.

Callaway offers the Micro Hex Polo T-Shirt, specifically designed for men participating in outdoor sports activities. This cooling shirt is ideal for staying comfortable during physical exertion.

(Source:www.callawaygolf.com/)

The golf industry has also witnessed an upsurge in golf tourism, with players traveling to renowned golf destinations. This trend has created opportunities for golf apparel brands to offer specialized clothing catering to various climates and golf course conditions, thus driving market growth. The growing number of golf courses and clubs, along with the influence of professional golfers, has propelled the adoption of golf apparel among enthusiasts.

Athleisure and Fashion Trends in Golf Apparel to Propel Market Growth

The fusion of athleisure and fashion trends. Golf apparel has evolved from traditional and formal styles to incorporate elements of comfort, performance, and fashion-forward designs. Golfers are increasingly seeking apparel that not only enhances their gameplay but also allows them to make a fashion statement on the course. This shift in consumer preferences has led to the emergence of golf attire that seamlessly combines athletic functionality with trendy aesthetics. Brands have responded to this demand by integrating advanced fabric technologies, such as moisture-wicking, UV protection, and stretchability, into their golf clothing. Athleisure-inspired golf apparel has gained traction, making it suitable not only for rounds of golf but also for casual wear beyond the golf course.

Rise in the number of e-commerce platforms are propelling market growth

Market Dynamics of Golf Apparel

High Competition and Price Sensitivity to Hinder Market Growth

The golf apparel market is highly competitive, with numerous brands vying for market share. This competition often leads to price sensitivity among consumers. Golfers, especially casual players, may prioritize budget-friendly options over premium golf apparel, putting pressure on brands to offer competitive pricing. This can result in thin profit margins for companies and may limit their ability to invest in research and development for innovative golf apparel technologies. Additionally, the prevalence of discount and online retail channels further intensifies price competition.

Impact of COVID-19 on the Golf Apparel

The golf apparel market was greatly affected by the COVID-19 pandemic. As a result of lockdowns, travel restrictions, and social distancing requirements, golf courses had to temporarily close and saw a decrease in the number of visitors, leading to a decline in the number of rounds played and the postponement of tournaments. Consequently, there was a decrease in consumer expenditure on golf apparel during this time. Numerous golf apparel retailers and brands faced challenges in their supply chains due to factory closures and delays in shipping. However, as restrictions eased and outdoor activities gained popularity as safer options, the golf industry rebounded, witnessing increased demand for golf apparel as enthusiasts returned to the sport. Introduction of Golf Apparel

Golf attire refers to athletic clothing worn primarily while engaging in the sport of golf. The market in the region has experienced growth due to rising disp...

The women's golf club sets market is experiencing robust growth, driven by increasing female participation in golf and a rising demand for high-performance, specialized equipment. The market, estimated at $500 million in 2025, is projected to exhibit a Compound Annual Growth Rate (CAGR) of 7% from 2025 to 2033, reaching approximately $900 million by 2033. This expansion is fueled by several key factors: the rising popularity of golf among women of all ages and skill levels, innovative product designs incorporating lighter materials and enhanced ergonomics for improved playability, a growing emphasis on fashion and style in golf apparel and equipment, and the increasing availability of affordable, high-quality club sets. Major brands like Nike, Adidas, Puma, and Callaway are leading the market, constantly innovating and leveraging their brand recognition to capture market share. However, challenges remain, including the relatively high cost of entry into the sport and the need for continuous product development to stay ahead of evolving consumer preferences and technological advancements. The market segmentation reveals a diverse landscape. Different club set types cater to varying skill levels and playing styles, creating opportunities for specialization and targeted marketing. Geographic regions also exhibit varying market dynamics, with North America and Europe currently dominating the market but strong growth potential evident in Asia-Pacific and other emerging economies. The competitive landscape is intense, with both established brands and smaller niche players vying for market share. Success hinges on delivering high-quality products, strong branding, effective marketing campaigns targeted at the female golfer, and adapting to the evolving demands of this dynamic market. Continued innovation in club design, materials, and technology will be critical for future growth.

The global golf equipment market, a $9.92B industry in 2025, is projected to grow steadily at a 3% CAGR through 2033, driven by rising disposable incomes and technological advancements. Key players like Callaway, TaylorMade, and Acushnet dominate, but competition and evolving consumer preferences are shaping the future. Explore market trends, leading companies, and regional analysis.

Explore the booming Women's Golf Drivers market analysis, key growth drivers, emerging trends, and strategic insights from 2025-2033. Discover market size, CAGR, and leading companies in this comprehensive report.

The global golf equipment market is booming, projected to reach $11.89 billion by 2025 with a 4.57% CAGR. Discover key trends, driving forces, and leading companies shaping this dynamic industry. Explore market segmentation, regional analysis, and future growth projections. Key drivers for this market are: Popularity of Sports Tourism, Escalated Golf Participation Rates. Potential restraints include: Inclination Toward Adventure Sports Activities. Notable trends are: Participation of Young Adults in Golf.