Despite COVID-19, the golfing population is increasing and the market is also growing, expanding export opportunities for domestic golf companies.

 

On the 17th, Bloomberg reported that the number of golf rounds played in the United States in 2020 was about 500 million, but that 2021 will be better.

 

The newspaper cited the fact that people's schedules were more flexible than before the COVID-19 incident, that most people who started playing golf continued to play, and that the weather was nice.

 

In particular, it is said that it is noteworthy that 35% of new participants are women. It appears that 30% of all junior golfers (amateurs under the age of 18) are women, which means that sales of golf equipment companies are also increasing.

 

As the golf population increases, sales of equipment companies are also increasing.

 

Callaway Golf announced astonishing numbers of $856 million in net sales for the third quarter. This is considered to be the momentum stemming from the acquisition of Topgolf, a complex entertainment facility, for $2.6 billion last March.

 

Acushnet, the parent company of Titleist and FootJoy, recorded net sales of $522 million in the third quarter of last year (July-September), an 8% increase compared to the same period last year.

 

The golfing population is increasing not only in the United States but also around the world.

 

According to the Korea Trade-Investment Promotion Agency (KOTRA), Sweden's golf population is increasing through aggressive campaigns such as introducing various memberships and attracting junior members, centered on golf associations and large golf courses.

 

In particular, golf balls are entirely dependent on imports as there is no production in Sweden.

 

As of 2017, Sweden's golf ball imports amounted to $11.82 million, a 7.15% decrease from the previous year. The main importing countries are the United Kingdom (44.17%), the Netherlands (37.43%), and the United States (5.13%), and the amount of Korean imports during the same period recorded $2,249, ranking 15th among importing countries.

 

 

There are about 16 golf ball brands distributed in Sweden, including famous brands such as Bridgestone, Callaway, Titleist, Wilson Staff, Srixon, Pinnacle, and Spalding, as well as Korean brands such as Volvik and NASSAU.

 

In the case of Kenya, Africa, interest in golf equipment is increasing due to the growth of the middle class and changes in awareness.

 

Previously, golf was considered the exclusive preserve of the wealthy, but these days, the population is expanding as the middle class also uses it as a means of leisure and business networking. There is a growing awareness among office workers that it is a marketing venue to introduce products of subsidiaries, and as interest in golf grows, demand for the golf equipment market is also increasing.

 

The increase in disposable income of Kenyans, expansion of golf course development in rural areas, increased investment in golf courses by real estate agents, and golf education for children in schools are also driving market demand.

 

KOTRA predicts that the world's golf population will increase further as the baby boomer generation begins to retire. Korean companies can consider targeting the market with set products for beginners and customized content for training.

 

A KOTRA official said, “The golf industry was growing significantly even before the COVID-19 incident due to the increase in golf participation among the elderly population who have a lot of free time after retirement, and more people are enjoying golf because it is a good sport for maintaining social distance.” He explained.