The Latin America, Middle East and Africa Golf Bags Market is projected to witness market growth of 11.5% CAGR during the forecast period (2024-2031). In the year 2027, the LAMEA market's volume is expected to surge to 631.2 thousand units, showcasing a growth of 13.2% (2024-2031).
Tour bags in the Golf Bags Market are premium, high-capacity bags used by professional golfers and serious enthusiasts. Renowned for their superior durability and ample storage, these bags often feature 6-10 dividers for optimal club organization and numerous pockets for accessories, apparel, and personal items. Constructed from top-quality, weather-resistant materials, tour bags are designed to withstand rigorous use. Thus, the Saudi Arabia market is expected to utilize 10.09 thousand units of tour bag by 2031.
The Brazil market dominated the LAMEA Golf Bags Market by Country in 2023, and is forecast to continue being a dominant market till 2031; thereby, achieving a market value of $50.7 million by 2031. The Argentina market is registering a CAGR of 12.5% during (2024 - 2031). Additionally, The UAE market would showcase a CAGR of 10.5% during (2024 - 2031).
Technological advancements have been a cornerstone of the golf bags market's expansion. New developments in materials science have resulted in the creation of golf bags that are more functional, durable, and lightweight.
Additionally, while still popular for their aesthetic appeal, traditional materials like leather have been complemented or replaced by high-tech materials such as carbon fiber, nylon, and other synthetic fabrics that offer superior strength and weather resistance. These materials lessen the weight of the bags, which makes them more convenient to carry.
Golf participation is rising in several LAMEA countries, particularly urban areas with newly built courses. This growing interest creates a potential market for golf bags, including bags. In Brazil, the increasing demand for golf bags is significantly influenced by the growth of e-commerce. The Brazilian e-commerce industry has seen rapid expansion, driven by increased internet penetration and a growing middle class. According to the International Trade Administration, Brazil continues to experience rapid e-commerce growth of 14.3% and should exceed US$200 billion by 2026.
Tour bags in the Golf Bags Market are premium, high-capacity bags used by professional golfers and serious enthusiasts. Renowned for their superior durability and ample storage, these bags often feature 6-10 dividers for optimal club organization and numerous pockets for accessories, apparel, and personal items. Constructed from top-quality, weather-resistant materials, tour bags are designed to withstand rigorous use. Thus, the Saudi Arabia market is expected to utilize 10.09 thousand units of tour bag by 2031.
The Brazil market dominated the LAMEA Golf Bags Market by Country in 2023, and is forecast to continue being a dominant market till 2031; thereby, achieving a market value of $50.7 million by 2031. The Argentina market is registering a CAGR of 12.5% during (2024 - 2031). Additionally, The UAE market would showcase a CAGR of 10.5% during (2024 - 2031).
Technological advancements have been a cornerstone of the golf bags market's expansion. New developments in materials science have resulted in the creation of golf bags that are more functional, durable, and lightweight.
Additionally, while still popular for their aesthetic appeal, traditional materials like leather have been complemented or replaced by high-tech materials such as carbon fiber, nylon, and other synthetic fabrics that offer superior strength and weather resistance. These materials lessen the weight of the bags, which makes them more convenient to carry.
Golf participation is rising in several LAMEA countries, particularly urban areas with newly built courses. This growing interest creates a potential market for golf bags, including bags. In Brazil, the increasing demand for golf bags is significantly influenced by the growth of e-commerce. The Brazilian e-commerce industry has seen rapid expansion, driven by increased internet penetration and a growing middle class. According to the International Trade Administration, Brazil continues to experience rapid e-commerce growth of 14.3% and should exceed US$200 billion by 2026.
List of Key Companies Profiled
- Acushnet Holdings Corp. (Magnus Holdings Co., Ltd)
- Topgolf Callaway Brands Corp.
- Taylor Made Golf Company, Inc. (CENTROID Investment Partners)
- PING, Inc.
- Mizuno Corporation
- Amer Sports
- Sun Mountain Sports, Inc. (SOLACE CAPITAL PARTNERS, LLC)
- Nike, Inc.
- Motocaddy
Market Report Segmentation
By Type(Volume, Thousand Units, USD Billion, 2020-2031)- Soft
- Hard
- Stand Bag
- Cart Bag
- Tour Bag
- Travel Bag
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. LAMEA Golf Bags Market by Type
Chapter 5. LAMEA Golf Bags Market by Product
Chapter 6. LAMEA Golf Bags Market by Country
Chapter 7. Company Profiles
Companies Mentioned
- Acushnet Holdings Corp. (Magnus Holdings Co., Ltd)
- Topgolf Callaway Brands Corp.
- Taylor Made Golf Company, Inc. (CENTROID Investment Partners)
- PING, Inc.
- Mizuno Corporation
- Amer Sports
- Sun Mountain Sports, Inc. (SOLACE CAPITAL PARTNERS, LLC)
- Nike, Inc.
- Motocaddy
Methodology
LOADING...
