In 2023, the size of the golf clubs market in Thailand stood at 25.418 million US dollars. The forecasted data for the subsequent years show a gradual decline in market value. By 2024, the market size is expected to be 24.034 million US dollars, followed by a predicted drop to 22.704 million US dollars in 2025. This downward trend continues with 21.386 million US dollars in 2026, 20.083 million US dollars in 2027, and 18.792 million US dollars by 2028. Year-on-year, this represents a decrease: -5.44% from 2024 to 2025, -5.80% from 2025 to 2026, -6.10% from 2026 to 2027, and -6.43% from 2027 to 2028. The compound annual growth rate (CAGR) over these five years is approximately -5.70% per year.
Future trends to watch for include shifts in consumer preferences towards alternative sports or recreational activities, technological advancements in golf equipment which may change the dynamics of the market, and economic factors impacting discretionary spending in Thailand. Additionally, global and domestic interest in golf can fluctuate, influencing market demand positively or negatively.
