The South Korean golf equipment market, excluding balls and clubs, has seen steady growth from 2013 to 2023, increasing from $2.48 to $4.58 per capita. The market's value per capita rose significantly, with a year-on-year increase of 3.32% from 2021 to 2022, and 3.38% from 2022 to 2023. Over the last five years, the compound annual growth rate (CAGR) was approximately 3.38%, indicating a positive and consistent upward trend.
Future trends to watch include the increasing popularity of golf among younger demographics, the integration of technology into golfing gear, and the continued influence of health and fitness trends on the sport, likely driving further market growth.
