Morocco: Golf Equipment Market 2024

Golf Equipment Market Size in Morocco

The Moroccan golf equipment market declined rapidly to $X in 2022, waning by -18.2% 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). Overall, the total consumption indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +22.1% against 2020 indices. Golf equipment consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Golf Equipment Exports

Exports from Morocco

In 2022, overseas shipments of golf clubs and other golf equipment were finally on the rise to reach X units after two years of decline. Over the period under review, exports showed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, golf equipment exports surged to $X in 2022. Overall, exports posted a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

France (X units) was the main destination for golf equipment exports from Morocco, with a 94% share of total exports. Moreover, golf equipment exports to France exceeded the volume sent to the second major destination, Senegal (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to France stood at +112.3%.

In value terms, the largest markets for golf equipment exported from Morocco were France ($X) and Senegal ($X).

Senegal, with a CAGR of +96.2%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

The average golf equipment export price stood at $X per unit in 2022, reducing by -94.8% against the previous year. In general, the export price continues to indicate a precipitous slump. The pace of growth appeared the most rapid in 2015 an increase of 63%. The export price peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Senegal ($X per unit), while the average price for exports to France stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Senegal (+7.0%).

Golf Equipment Imports

Imports into Morocco

Golf equipment imports into Morocco reduced modestly to X units in 2022, with a decrease of -1.8% against 2021. Overall, imports, however, saw notable growth. The most prominent rate of growth was recorded in 2014 with an increase of 67% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, golf equipment imports soared to $X in 2022. Over the period under review, total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +102.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 49%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest golf equipment supplier to Morocco, with a 52% share of total imports. Moreover, golf equipment imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X units), fourfold. The third position in this ranking was held by Taiwan (Chinese) (X units), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +5.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+48.5% per year) and Taiwan (Chinese) (+10.4% per year).

In value terms, China ($X) constituted the largest supplier of golf clubs and other golf equipment to Morocco, comprising 56% of total imports. The second position in the ranking was held by the UK ($X), with a 10% share of total imports. It was followed by Thailand, with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-0.4% per year) and Thailand (+25.9% per year).

Import Prices by Country

In 2022, the average golf equipment import price amounted to $X per unit, growing by 38% against the previous year. In general, import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, golf equipment import price increased by +101.6% against 2019 indices. The growth pace was the most rapid in 2020 when the average import price increased by 44%. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+23.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :