The market size per capita for golf equipment, excluding golf balls and clubs, in Norway showed a decreasing trend from 2013 to 2023. In 2013, the market value stood at $2.74, declining progressively to $2.05 in 2023. A notable decline occurred from 2020 to 2023, with a year-on-year decrease of approximately 5.6%. Over the last five years, the compound annual growth rate (CAGR) was -2.35%, reflecting a consistent downward trend.
Future trends to watch include the potential impact of increased participation in golf post-pandemic, technological advancements in equipment, and sustainability concerns which could drive product innovation and variations in consumer preferences, possibly stabilizing or slightly reversing the declining trend.
