In 2023, the Golf Clubs market in India was valued at $12.014 million US dollars. The market has shown fluctuations over the years with variable growth rates. Notably, there was significant growth of 14.46% in 2019, followed by a decline of 6.27% in 2020. Despite the variations, the average annual growth rate (CAGR) over the past five years (2018-2023) was 3.43%. Year-on-year growth for the last two years showed minor increases of 1.57% and 1.52% in 2022 and 2023, respectively.
Future trends to watch for include:
- Continuous modest growth with projected figures reaching $12.951 million by 2028.
- The forecasted five-year CAGR from 2024 to 2028 is 1.18%, indicating a stable yet slow market expansion.
- Consumer preferences shifts, technological advancements in golf equipment, and increased participation in golf would be key drivers to monitor for future market dynamics.
