Canada: Golf Equipment Market 2024

Golf Equipment Market Size in Canada

The Canadian golf equipment market surged to $X in 2022, picking up by 16% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption posted a tangible expansion. Golf equipment consumption peaked in 2022 and is likely to see gradual growth in years to come.

Golf Equipment Exports

Exports from Canada

In 2022, approx. X units of golf clubs and other golf equipment were exported from Canada; growing by 49% compared with the previous year. Over the period under review, total exports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +79.7% against 2018 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, golf equipment exports soared to $X in 2022. Overall, exports continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2013 when exports increased by 49% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

The United States (X units) was the main destination for golf equipment exports from Canada, accounting for a 80% share of total exports. Moreover, golf equipment exports to the United States exceeded the volume sent to the second major destination, the UK (X units), eightfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +8.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+9.8% per year) and South Korea (+43.5% per year).

In value terms, the United States ($X) remains the key foreign market for golf clubs and other golf equipment exports from Canada, comprising 84% of total exports. The second position in the ranking was taken by the UK ($X), with a 6.4% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +16.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+12.0% per year) and South Korea (+57.6% per year).

Export Prices by Country

The average golf equipment export price stood at $X per unit in 2022, falling by -15.9% against the previous year. In general, the export price, however, continues to indicate buoyant growth. The pace of growth appeared the most rapid in 2018 an increase of 68%. Over the period under review, the average export prices hit record highs at $X per unit in 2021, and then shrank remarkably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Korea ($X per unit), while the average price for exports to the UK ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+9.8%), while the prices for the other major destinations experienced more modest paces of growth.

Golf Equipment Imports

Imports into Canada

In 2022, approx. X units of golf clubs and other golf equipment were imported into Canada; increasing by 11% against the previous year's figure. Overall, imports saw a mild increase. The pace of growth appeared the most rapid in 2021 when imports increased by 38% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, golf equipment imports skyrocketed to $X in 2022. Over the period under review, imports recorded a resilient expansion. The growth pace was the most rapid in 2021 with an increase of 56% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

The United States (X units), China (X units) and Taiwan (Chinese) (X units) were the main suppliers of golf equipment imports to Canada, together comprising 80% of total imports. Thailand, Mexico, Vietnam, Indonesia, Japan and South Korea lagged somewhat behind, together comprising a further 19%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of +43.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and Mexico ($X) constituted the largest golf equipment suppliers to Canada, together accounting for 79% of total imports. Vietnam, Taiwan (Chinese), Thailand, Japan, South Korea and Indonesia lagged somewhat behind, together accounting for a further 20%.

In terms of the main suppliers, Indonesia, with a CAGR of +41.9%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average golf equipment import price amounted to $X per unit, growing by 8.8% against the previous year. Over the last decade, it increased at an average annual rate of +4.1%. The pace of growth appeared the most rapid in 2021 an increase of 13% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Mexico ($X per unit), while the price for Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+16.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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