New Zealand: Golf Equipment Market 2024

Golf Equipment Market Size in New Zealand

In 2022, the New Zealand golf equipment market increased by 23% to $X, rising for the sixth year in a row after two years of decline. Overall, consumption saw a resilient expansion. Golf equipment consumption peaked in 2022 and is likely to see steady growth in years to come.

Golf Equipment Exports

Exports from New Zealand

In 2022, the amount of golf clubs and other golf equipment exported from New Zealand dropped modestly to X units, which is down by -2.5% compared with 2021 figures. In general, exports, however, posted a moderate increase. The most prominent rate of growth was recorded in 2021 with an increase of 61% against the previous year. As a result, the exports reached the peak of X units, and then contracted modestly in the following year.

In value terms, golf equipment exports stood at $X in 2022. Over the period under review, exports, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 93%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the immediate term.

Exports by Country

South Korea (X units), Australia (X units) and Fiji (X units) were the main destinations of golf equipment exports from New Zealand, together comprising 95% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of +140.0%), while the other leaders experienced mixed trend patterns.

In value terms, South Korea ($X) remains the key foreign market for golf clubs and other golf equipment exports from New Zealand, comprising 72% of total exports. The second position in the ranking was taken by Australia ($X), with a 15% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to South Korea amounted to +152.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (-6.3% per year) and Fiji (+6.3% per year).

Export Prices by Country

The average golf equipment export price stood at $X per unit in 2022, growing by 8.7% against the previous year. Overall, export price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, golf equipment export price increased by +13.1% against 2020 indices. The growth pace was the most rapid in 2018 when the average export price increased by 73%. The export price peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per unit), while the average price for exports to Australia ($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 (+5.2%), while the prices for the other major destinations experienced a decline.

Golf Equipment Imports

Imports into New Zealand

For the fourth year in a row, New Zealand recorded growth in supplies from abroad of golf clubs and other golf equipment, which increased by 15% to X units in 2022. In general, total imports indicated a slight increase from 2012 to 2022: its volume increased at an average annual rate of +1.9% 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 +69.9% against 2018 indices. The growth pace was the most rapid in 2021 with an increase of 30%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, golf equipment imports soared to $X in 2022. Over the period under review, imports showed a resilient expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 56%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in years to come.

Imports by Country

China (X units), the United States (X units) and Thailand (X units) were the main suppliers of golf equipment imports to New Zealand, with a combined 71% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +8.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of golf clubs and other golf equipment to New Zealand, comprising 47% of total imports. The second position in the ranking was held by the United States ($X), with a 20% share of total imports. It was followed by Australia, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+3.1% per year) and Australia (+8.4% per year).

Import Prices by Country

The average golf equipment import price stood at $X per unit in 2022, increasing by 7.2% against the previous year. Over the last decade, it increased at an average annual rate of +4.3%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 20%. The import price peaked in 2022 and is likely to see gradual growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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