Everyone knows that golf bags are essential tools for organizing all your golf clubs & accessories optimally. However, the price tag of golf bags can prove prohibitive to some.
That being said, the following question may pop up in your head: How many golf bags are sold each year?
In this article, we will provide you with some insight on how many golf bags are sold each year.
How Many Golf Bags Are Sold Each Year?
It is estimated that over 1.3 million golf bags are sold globally every year. The size of the global golf bag market is estimated to be valued at over 260M$.
Global golf bag sales can vary greatly from year to year because consumers buy a bag one year and will not buy one again for a few years. Golf bags last a lot longer than one year.
Golf bag sales naturally increase over time as more people pick up golfing.
Projections estimate that the golf bag market will grow by an additional 122.44M$ from 2021 to 2025, growing at about 3% per year.
Older projections predicted the golf bag market would grow by an additional 75.15% from 2019 to 2024, with a yearly growth between 2% and 5%.
In 2020, during the pandemic, golf bag manufacturers saw a surge in orders as people had extra time to try out golf once some restrictions were lifted. Golf bag sales were up 55% in August 2020 relative to August 2019. 2020 golf bag sales were up 5% relative to 2019 golf bag sales.
The total global golf equipment market size in 2021 was 7041.3M$.
Golf bags represent around 3.7% of the golfing equipment market sales. An average golf bag costs around 200$.
Therefore, globally, the total golf bag sales amounted to around:
Global Golf Bag Market Size = Global Golf Equipment Market Size * 3.7%
Global Golf Bag Market Size = 7041.3M$ * 0.037 = 260.53M$
We can now divide the global golf bag market size by the average golf bag price of 200$ to get an estimation of the number of golf bags sold yearly in the world:
Yearly # of golf bags sold globally = Global Golf Bag Market Size/Average price of one golf bag
Yearly # of golf bags sold globally = 260.53M$/200$ = 1,302,640.5 = over 1.3M golf bags
Therefore, we can estimate that, globally, over 1.3 million golf bags are sold every year.
How Many Golf Bags Are Sold Each Year In The US?
It is estimated that over 660,000 golf bags are sold in the United States of America every year. The size of the global golf bag market is estimated to be valued at over 132M$.
United States golf bag sales can vary greatly from year to year because consumers buy a bag one year and will not buy one again for a few years. Golf bags last a lot longer than one year.
From 2000 to 2005, United Sates golf bag sales decreased by 0.8% every year.
However, in 2005, United States golf bag sales increased by 5.1% to 113.5M$, which equates to 3.8% of total United States golf equipment sales.
From 2005 to 2010, golf bag sales were projected to increase by 0.4% per year. The 2010 projection for US golf bag sales was 115.9M$.
Golf bag sales naturally increase over time as more people pick up golfing.
A very interesting fact to know is that 49% of the golf bag market growth comes from North America. This makes sense as North America is home to over half the golf courses in the world.
The United States of America total golf equipment market size in 2021 was 3600M$.
Golf bags represent around 3.7% of the golfing equipment market sales. An average golf bag costs around 200$.
Therefore, in the United States, the total golf bag sales amounted to around:
US Golf Bag Market Size = US Golf Equipment Market Size * 3.7%
US Golf Bag Market Size = 3600M$ * 0.037 = 133.2M$
We can now divide the US golf bag market size by the average golf bag price of 200$ to get an estimation of the number of golf bags sold yearly in the US:
Yearly # of golf bags sold in the US = US Golf Bag Market Size/Average price of one golf bag
Yearly # of golf bags sold in the US = 133.2M$/200$ = 666,000 golf bags
Therefore, we can estimate that, in the United States of America, around 660,000 golf bags are sold every year.
Conclusion
There you go! After reading this article, you have learned more about how many golf bags are sold each year.
As you can see, a lot of golf bags are sold throughout the world during the 12 months of one year.
How many golf bags did you expect to be sold each year before reading this article? Let us know in the comments down below!
