According to a new report, published by KBV research, The Global Golf Bags Market size is expected to reach $2.3 billion by 2031, rising at a market growth of 9.3% CAGR during the forecast period. In the year 2023, the market attained a volume of 5,888.2 thousand units, experiencing a growth of 26.5% (2020-2023).
The Soft bag segment is leading the Global Golf Bags Market by Type in 2023, thereby, achieving a market value of $1.6 billion by 2031. Soft golf bags, which include stand bags, cart bags, and pencil bags, are highly popular due to their lightweight nature and ease of use. These bags are typically made from flexible materials like nylon, polyester, and synthetic blends, which provide a good balance of durability and weight. Soft golf backpacks are appealing due to their functionality and adaptability. They are equipped with numerous pockets and compartments to facilitate the organization of apparel, accessories, balls, and clubs.
The Cart Bag segment is registering a CAGR of 8.9% during (2024 - 2031). Cart bags are intended for use with golf carts, providing ample stowage space and organizational features. They are generally heavier and larger than stand bags, and they feature a variety of compartments for accessories, apparel, balls, and clubs. The robust construction and added features, such as cooler pockets and integrated GPS holders, make cart bags highly functional for golfers who prefer the convenience of riding in a cart.
Full Report: https://www.kbvresearch.com/golf-bags-market/
The North America market dominated the Global Golf Bags Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1.2 billion by 2031. The Europe market is experiencing a CAGR of 8.9% during (2024 - 2031). Additionally, The Asia Pacific market would exhibit a CAGR of 10.4% during (2024 - 2031).
By Type (Volume, Thousand Units, USD Billion, 2020-2031)
By Product (Volume, Thousand Units, USD Billion, 2020-2031)
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