From 2013 to 2023, the German market for golf equipment, excluding balls and clubs, saw a general decline in value per capita, decreasing from $0.54 to $0.39. In 2023, the value remained stable at $0.39. Over the last two years (2022-2023), there was a slight decline of 2.5%. The compound annual growth rate (CAGR) from 2019 to 2023 was a negative 2.5%, indicating a gradual decrease in market value over the five-year period.
Future trends to watch for include:
- Recovery patterns post-COVID-19 as consumer spending potentially rebounds.
- Growth in eco-friendly and innovative golf products which might attract newer, younger demographics.
- The impact of digitalization, like virtual golfing experiences, on traditional golf equipment demands.