Golf Bags Market (2024 - 2030) Size, Share & Trends Analysis Report By Product (Cart Bag, Stand Bag, Tour Bag, Travel Bag, Pencil), By Type (Hard, Soft), By Region, And Segment Forecasts

Golf Bag Market Summary

As more individuals seek golfing as a leisure pursuit or engage in competitive play, there is an increasing need for high-quality bags to store and transport clubs, accessories, and personal belongings. This trend is further amplified by the rise of golf tourism, with enthusiasts traveling to various destinations to play on renowned courses, driving demand for travel-friendly and durable golf bags that can withstand the rigors of frequent use and transportation.

The growing number of golfers worldwide is undeniably driving the golf equipment and accessories market to new heights. According to ‘The R&A Global Golf Participation Report 2023’, the number of registered golfers increased from 3.1 million in 2021 to 8.0 million in 2023. This trend is fueled by a variety of factors, including rising disposable incomes, improved accessibility to golf courses and facilities, and increased media coverage of professional golf events, all of which contribute to attracting newcomers to the sport and encouraging existing players to invest in equipment.

Fashion and style preferences influence purchasing decisions in the market. Golfers often view equipment, including bags, as extensions of personal brand and identity on the course. Therefore, there is a demand for bags that not only offer functional benefits but also reflect the latest trends in design, color schemes, and branding. Manufacturers respond to this demand by offering a wide range of aesthetically pleasing options, including customizable bags and collaborations with fashion designers or professional golfers, to appeal to different tastes and preferences within the diverse golfer demographic.

For instance, Topgolf, in collaboration with Callaway Brands, offers a diverse range of golf bags designed to meet the color and design preferences of golfers of all skill levels. Their golf bag offerings include stand bags, cart bags, and tour bags, providing options tailored to different playing styles and preferences. Similarly, Titleist, another golf equipment manufacturers offers a diverse range of golf bag designs and colors that drive its adoption among golfers worldwide. Their design options cater to a variety of preferences, ranging from sleek and modern styles to classic and timeless aesthetics, ensuring there's something for every golfer.

Advancements in technology have had a significant impact on the market, driving innovation and transforming the way golfers carry and organize equipment on the course. One key way technology has influenced the market is through the development of lightweight materials and construction techniques. Manufacturers have introduced advanced materials such as carbon fiber, nylon, and lightweight plastics, which have enabled the creation of golf bags that are significantly lighter without compromising on durability or functionality. This has made it easier for golfers to carry bags comfortably for extended periods, particularly during walking rounds, thereby enhancing the overall golfing experience, likely favoring the market growth.

Market Concentration & Characteristics

The degree of innovation in the golf bag market has been substantial in recent years, with manufacturers continuously pushing the boundaries to develop bags that offer superior performance, functionality, and convenience for golfers.Manufacturers have integrated specialized compartments, dividers, and pockets to help golfers neatly organize and protect clubs, balls, accessories, and personal belongings. Features such as insulated cooler pockets, waterproof compartments, and quick-access pockets for rangefinders or GPS devices enhance the functionality and versatility of golf bags, catering to the diverse needs and preferences of golfers.

Regulations in the golf industry, particularly those related to golf equipment specifications, can have a significant impact on the golf bag market. Rules set by governing bodies such as the United States Golf Association (USGA) and the Royal & Ancient Golf Club of St Andrews (R&A) dictate the maximum size, weight, and design features allowed for golf bags used in competitive play. Compliance with these regulations is essential for manufacturers to ensure that bags are approved for use in tournaments and professional events, influencing design choices and technological innovations in the market.

The end user concentration in the golf bag market tends to be relatively dispersed, reflecting the diverse demographics of golfers worldwide. While professional players, including tour players and competitive amateurs, constitute a notable segment of end users, the market also encompasses recreational golfers of varying skill levels, ages, and playing frequencies.

Product Insights

Stand golf bags accounted for a revenue share of over 38% in 2023. Stand bags offer golfers the flexibility to walk the course comfortably while having easy access to clubs and accessories. The built-in stand mechanism allows the bag to stand upright on its own, eliminating the need for constant bending and stooping to retrieve clubs, which enhances convenience during rounds. Additionally, the lightweight and ergonomic design of stand/carry bags make them ideal for golfers who prefer to walk the course or navigate hilly terrain, providing freedom of movement and minimizing fatigue. The practicality and functionality of stand golf bags align with the preferences of modern golfers, driving demand in the market.

Demand for tour golf bags is expected to grow at a CAGR of 11.2% in the forecast period. Tour bags are designed to meet the demands of competitive play, offering ample storage space, specialized club organization, and durable construction. They often feature luxurious materials, advanced technology, and customization options, catering to the specific needs and preferences of elite golfers, likely favoring its demand among consumers. Titleist Tour Bag, offered in premium material quality, performance, and functionality sought after by professional and serious amateur golfers. This tour bag boasts a spacious and well-organized design, featuring multiple large pockets and specialized compartments for clubs, accessories, and personal belongings. Additionally, the Titleist Tour Bag includes advanced features such as a padded shoulder strap for comfortable carrying, integrated handles for easy transportation, and a rain hood for weather protection.

Type Insights

Soft golf bag dominated the global market in 2023 with a share of about 74% of the overall revenue. Soft golf bags, also known as carry bags or stand bags, are lightweight and designed for golfers who prefer to walk the course. Their compact and flexible design allows for easy transportation, whether on foot or in a golf cart, making them convenient for golfers who enjoy a more active and mobile playing experience. Moreover, soft golf bags often come equipped with ample storage pockets and organizational features, enhancing practicality and functionality for golfers who want to carry essential gear such as balls, tees, and rain gear during rounds. The portability, convenience, and user-friendly features drives the segment growth.

Demand for hard golf bags is anticipated to rise at a CAGR of about 9.9% of the forecast period. Hard golf bags, also known as travel bags are designed to provide maximum protection for golf clubs during transportation, whether by car, airplane, or other means. Their sturdy construction and rigid exteriors offer superior protection against impacts, bumps, and rough handling, safeguarding valuable clubs from damage during transit. This durability and protection make hard golf bags particularly appealing to frequent travelers, tournament players, and golfers who invest in high-end equipment and want to ensure its longevity. Moreover, the increase in golf tourism is driving the preference for hard golf bags due to ability to provide superior protection for golf clubs during travel, ensuring peace of mind for golfers exploring different destinations and courses.

Regional Insights

North America golf bags market held a revenue share of 50.8% in 2023. Golf is popular sport in North America as it offers a unique blend of athleticism, skill, and social interaction, making it appealing to a wide range of individuals. Additionally, golf courses in North America often feature stunning natural landscapes and well-maintained facilities, providing pleasant experience for players of all levels. Furthermore, the sport has a rich tradition and culture in North America, with prestigious tournaments like the Masters and the U.S. Open attracting millions of viewers and participants each year. The combination of a passionate golfing community, consumer preferences, and industry competition fuels the growth of the golf bag market in North America.

U.S. Golf Bags Market Trends

The golf bag market in the U.S. is expected to grow at a CAGR of 8.5% from 2024 to 2030. The popularity of golf as both a recreational activity and a competitive sport fuels demand for high-quality bags that enhance the overall golfing experience, contributing to the steady growth and evolution of the golf bag market in the U.S.

Asia Pacific Golf Bags Market Trends

The Asia Pacific golf bags market is expected to grow at a CAGR of about 10.8% from 2024 to 2030. Economic growth and rising incomes have led to an expanding middle class with more leisure time and disposable income to spend on recreational activities like golf. Additionally, the region's growing urbanization and development of modern golf facilities, including world-class courses and resorts, have made the sport more accessible and appealing to a wider audience, which will likely drive the golf bag market. For instance, according to ‘The R&A Global Golf Participation 2023’, number of golfers in Asia increased from 13.89 million in 2016 to 16.15 million in 2022.

Key Golf Bags Market Company Insights

The global golf bag industry is highly competitive, marked by the presence of numerous small-scale regional companies as well as multinational players such as Acushnet Company (Titleist), Callaway, TaylorMade Golf, and Ping among others.

Recent Developments

• In August 2023, Titleist introduced the new Titleist LINKSLEGEND Series premium golf bag. The series includes four LINKSLEGEND models- Members Bag, Classic Members Bag, Caddie Bag, and Carry Bag created in partnership with golfers, caddies, and PGA Professionals from various clubs globally, and rigorously tested through extensive on-course use to ensure quality and performance.

• In April 2023, Titleist introduces the new Players 4 StaDry, Players 4, and Player 5 Stand Bag. The bags are engineered for dedicated golfers who are looking for lightweight stand bags with adequate storage and durability.

Golf Bags Market Report Scope

Global Golf Bags Market Report Segmentation

This report forecasts revenue growth and provides an analysis of the latest trends and opportunities in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global golf bags market report based on product, type, and region:

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Cart Bag

  • Stand Bag

  • Tour Bag

  • Travel Bag

  • Pencil Bag

• Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Hard

  • Soft

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

  • Asia Pacific

    • China

    • India

    • Japan

    • Australia & New Zealand

  • Central & South America

    • Brazil

  • Middle East & Africa

    • South Africa

    • UAE