In this article, we will discuss the 15 most valuable golf companies in the world. If you want to see more companies in this selection, go directly to the 5 Most Valuable Golf Companies In The World.
According to the National Golf Foundation, 3.2 million people started playing golf in the US in 2021, while 25.1 million, or 8% of the total population in the US, played golf on a golf course in 2021. Historically, golf has been a male-dominated sport, but the pandemic saw women adopt the sport at a rapid pace. For instance, 25% of female golfers played the sport for the first time at the peak of the COVID-19 pandemic in 2020. The sport is also gaining acceptance from Gen Z, as 27% of new golfers are in the 18 to 34 years age bracket. Overall, 6 million people playing golf belong to Gen-Z. This is a positive development for the sport because, in the past, it has usually gained attention from middle-aged and older groups. The emergence of young and dynamic players like Rory Mcllroy has helped the sport gain more prominence amongst the new generation.
Despite the lockdowns and restrictions due to the COVID-19 pandemic, 502 million rounds of golf were played in 2020. This reflected a 14% year-over-year (YoY) increase from the 2019 level of 441 million rounds. Experts attribute the increase in rounds to the people’s need to go outdoors during the pandemic, which was curtailed due to lockdowns and restrictions. Overall, there are 40,000 golf courses around the world, and around 43% of the golf courses are located in the US. In 2020, the market for golf equipment was estimated to be worth $7,041.3 million, and by 2030, it is anticipated to grow to $10,150.3 million, reflecting a compound annual growth rate (CAGR) of 3.9% from 2021 to 2030.
Some of the most popular companies involved in the golf industry include NIKE, Inc. (NYSE:NKE), adidas AG (ETR:ADS), and Puma SE (ETR:PUM). If you want to read more about some of the leading golf stocks, go to the 6 Best Golf Stocks to Buy Now.
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Our Methodology
We have shortlisted the 15 most valuable golf companies in the world after analyzing their scale of operations, growth prospects, and product portfolio. All the companies included in this list are a member of the National Golf Foundation (NGF) GOLF 100 list for 2023. We have ranked the companies in ascending order of their market capitalization as of February 20. To estimate the market cap of private companies, we used a revenue multiple of 1.5x.
Most Valuable Golf Companies In The World
15. PXG
Estimated Market Capitalization: $173.7 million
2021 Revenue: $115.8 million
Parsons Xtreme Golf (PXG) is a Scottsdale, Arizona-based company that was established in 2013 by billionaire philanthropist Bob Parsons. As its founder and director, Parsons is the mastermind behind the GoDaddy group of companies. The company has had a strong focus on research and development (R&D), as reflected by over 750 patents in its portfolio. Parsons Xtreme Golf (PXG) has created its place in the high-end golf clubs market and is recognized as one of the fastest-growing privately held entities in the golf industry.
14. Honma Golf Limited (6858.HK)
Market Capitalization: $290 million
Honma Golf is a Yokohama, Japan-based manufacturer of golf equipment and accessories. The company was founded in 1959 by two brothers and has a reputation for producing high-end, premium golf clubs. Honma’s products are crafted using traditional methods, with a focus on quality and performance. Honma’s clubs are used by many professional golfers and are favored by golfers who value traditional craftsmanship. In addition to clubs, the company also offers golf bags, gloves, and accessories. The company debuted the BERES Nx golf clubs in January 2023 for men and women.
13. Golf Galaxy
Estimated Market Capitalization: $300 million
2021 Revenue: $200 million
Golf Galaxy is a Coraopolis, Pennsylvania-based omnichannel specialty golf retailer founded in 1997. The company is involved in selling a wide variety of golf apparel, equipment, and footwear from leading brands like Callaway Golf, Titleist, Ping, NIKE, Inc. (NYSE:NKE), and Under Armor, Inc. (NYSE:UA). Golf Galaxy was acquired by DICK’s Sporting Goods, Inc. (NYSE:DKS) in 2007 which helped establish the company’s position as the biggest specialty golf retailer in the US. Golf Galaxy also offers lessons from leading PGA and LPGA players. DICK’s stores have a separate section for golf products across its network of 850 stores across the US.
12. Wilson Golf
Estimated Market Capitalization: $657 million
2021 Revenue: $438 million
Wilson Golf is a division of Chicago, Illinois-based sports equipment company Wilson Sporting Goods, which itself has been linked to Chinese Anta Sports since 2019 through subsidiaries. The company offers a range of golf clubs for both men and women, including drivers, fairway woods, hybrids, irons, wedges, and putters. It also offers a selection of golf balls to suit different playing styles and abilities. Wilson is a well-established brand in the golf industry and is known for producing durable equipment. The company is in the process of relaunching the Dynapower franchise.
11. Ping Golf
Estimated Market Capitalization: $720 million
2021 Revenue: $480.1 million
Ping Golf is a Phoenix, Arizona-based manufacturer of golf equipment company founded in 1959 by a General Electric Company (NYSE:GE) engineer Karsten Solheim. The company has a heavy focus on golf clubs and bags, along with apparel and gloves.
Ping Golf operates as a subsidiary of Karsten Manufacturing Corporation. Presently, 31 PGA Tour players use Ping Golf products. The players include notable names like Matt Fitzpatrick, Viktor Hovland, and Tony Finau. Tiger Woods used a Ping putter grip throughout his career. The company recently launched the new G430 driver family that has the latest straight flight technology (SFT) and low spin technology (LST) to ensure the best performance.
10. Srixon/Cleveland Golf
Estimated Market Capitalization: $1.31 billion
2021 Revenue: $874 million
Srixon/Cleveland Golf is a Huntington Beach, California-based producer of top-tier golf clubs, balls, and other accessories with a presence in over 26 countries. The company claims that 20% of its business is related to customized products. Srixon/Cleveland Golf is a division of specialized sports equipment manufacturer Dunlop Sports America (DSA), which is further tied to the diversified Japanese conglomerate Sumitomo Group. The company is endorsed by famous professional golfers like Hideki Matsuyama, Brooks Koepka, and Inbee Parks. Cleveland Golf used to make replicas of famous golf clubs during the 1940s and 1950s and developed its own brand in 1979.
9. TaylorMade Golf
Estimated Market Capitalization: $1.65 billion
2021 Revenue: $1.1 billion
TaylorMade Golf is a Carlsbad, California-based manufacturer and seller of golf clubs, balls, and apparel founded in 1979 by the son of professional golfer Gary Adams.
The company developed golf clubs with a wider head that reduced mishits. These clubs were made of metal, giving them more weight than wood and providing a lower center of gravity that ensured that the golf ball went into the air easily. TaylorMade Golf has been associated with popular golf players like Tiger Woods, Rory McIlroy, and Sierra Brooks.
8. FootJoy
Market Capitalization: $3.49 billion
FootJoy is an Elmira, New York-based designer, and seller of golf shoes that fall under the umbrella of Acushnet Holdings Corp. (NYSE:GOLF). Acushnet acquired the company from General Mills in 1985.
The company, founded in 1857, is a preferred brand amongst leading golfers and has been worn by golfers at the PGA Tours since 1945. FootJoy is also involved in manufacturing gloves, socks, outerwear, and apparel for golfers. Furthermore, since his recovery from a crippling injury, Tiger Woods has started sporting FootJoy footwear rather than Nike. He was seen wearing FootJoy Premiere Series Packard shoes at The Masters Tournament 2022.
7. Titleist
Market Capitalization: $3.49 billion
Titleist is a Fairhaven, Massachusetts-based golf equipment company founded in 1932 by Phillip E. Young. The company primarily manufactures and sells golf balls, clubs, and bags.
Titleist has the distinction of holding the biggest golf ball intellectual property (IP) portfolio of over 1,600 patents. For the last 90 years, the company has manufactured its golf balls in the greater New Bedford, Massachusetts area. Titleist further claims that the company’s golf balls are the most widely used ones across the PGA tours. The company’s Operations Team comprises over 1,100 associates with an average experience of over two decades. The company is a part of Acushnet Holdings Corp. (NYSE:GOLF).
6. Callaway Golf
Market Capitalization: $4.28 billion
Callaway Golf is a Carlsbad, California-based maker of golf clubs, balls, performance gear, and accessories globally.
The company is amongst the brands that fall under the umbrella of Topway Callaway Brands Corp. (NYSE:MODG). In early January 2023, the company entered into a multi-year partnership extension with four-time NBA winner and two-time MVP Stephen Curry and a new partnership with One Direction band member Niall Horan. The company sponsors a number of professional players, including Phil Mickelson, Sergio Garcia, and Xander Schauffele, and has a significant presence in both the professional and amateur golf industries.
In addition to Topway Callaway Brands Corp. (NYSE:MODG), NIKE, Inc. (NYSE:NKE), adidas AG (ETR:ADS), and Puma SE (ETR:PUM) are also among the most valuable golf companies in the world.
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Disclosure: None. 15 Most Valuable Golf Companies In The World is originally published on Insider Monkey.