Report Update: Apr 1, 2024

Vietnam - Golf Clubs And Other Golf Equipment - Market Analysis, Forecast, Size, Trends and Insights

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Golf Equipment Price in Vietnam - 2021

Golf Equipment Price in Vietnam (FOB) - 2021

The average golf equipment export price stood at $40.9 per unit in December 2021, almost unchanged from the previous month. In general, the export price continues to indicate a pronounced slump. The most prominent rate of growth was recorded in November 2021 when the average export price increased by 62% month-to-month. Over the period under review, the average export prices attained the maximum at $56.4 per unit in April 2021; however, from May 2021 to December 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In December 2021, the country with the highest price was the UK ($67.1 per unit), while the average price for exports to Canada ($18.1 per unit) was amongst the lowest.

From December 2020 to December 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+1.9%), while the prices for the other major destinations experienced more modest paces of growth.

Golf Equipment Price in Vietnam (CIF) - 2021

In December 2021, the average golf equipment import price amounted to $72.3 per unit, with an increase of 7.2% against the previous month. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2021 an increase of 19% against the previous month. As a result, import price attained the peak level of $75.3 per unit. From April 2021 to December 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Japan ($116 per unit), while the price for Thailand ($17.9 per unit) was amongst the lowest.

From December 2020 to December 2021, the most notable rate of growth in terms of prices was attained by Japan (+1.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Golf Equipment Exports in Vietnam

In 2022, shipments abroad of golf clubs and other golf equipment decreased by -27.8% to 5.3M units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, posted significant growth. The pace of growth was the most pronounced in 2021 with an increase of 125% against the previous year. As a result, the exports reached the peak of 7.3M units, and then fell dramatically in the following year.

In value terms, golf equipment exports declined significantly to $330M in 2022. Overall, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 84% against the previous year. As a result, the exports reached the peak of $429M, and then shrank notably in the following year.

Export of Golf Equipment in Vietnam (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Myanmar	0.1	N/A	N/A	252	1260.8%
United States	83.6	102	205	35.5	-24.8%
Japan	32.3	48.1	56.1	14.2	-24.0%
United Kingdom	24.7	23.7	44.8	10.1	-25.8%
Mexico	25.9	28.0	62.5	0.6	-71.5%
Hong Kong SAR	8.2	10.8	26.7	0.2	-71.0%
Others	13.2	19.6	33.0	17.9	10.7%
Total	188	232	429	330	20.6%

Top Export Markets for Golf Equipment from Vietnam in 2022:

Myanmar (3518.2K units)
United States (1171.0K units)
Japan (280.9K units)
United Kingdom (141.5K units)
Mexico (4.6K units)
Hong Kong SAR (2.5K units)

Golf Equipment Imports in Vietnam

In 2022, purchases abroad of golf clubs and other golf equipment decreased by -17.3% to 1.7M units for the first time since 2018, thus ending a three-year rising trend. Overall, total imports indicated prominent growth from 2019 to 2022: its volume increased at an average annual rate of +14.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +49.5% against 2019 indices. The growth pace was the most rapid in 2021 when imports increased by 53%. As a result, imports reached the peak of 2M units, and then shrank rapidly in the following year.

In value terms, golf equipment imports plummeted to $86M in 2022. Over the period under review, imports, however, posted strong growth. The pace of growth was the most pronounced in 2021 with an increase of 56%. As a result, imports reached the peak of $105M, and then fell dramatically in the following year.

Import of Golf Equipment in Vietnam (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	16.2	26.2	47.7	42.9	38.4%
Hong Kong SAR	6.4	8.6	14.3	21.1	48.8%
Japan	7.3	9.2	15.2	13.0	21.2%
United States	2.8	2.6	4.2	2.7	-1.2%
South Korea	1.6	3.3	4.1	2.4	14.5%
Singapore	3.8	4.2	5.3	1.0	-35.9%
Thailand	1.7	2.1	1.8	0.8	-22.2%
Taiwan (Chinese)	12.7	10.7	12.0	0.4	-68.4%
Others	0.3	0.3	0.3	1.7	78.3%
Total	52.8	67.2	105	86.0	17.7%

Top Suppliers of Golf Equipment to Vietnam in 2022:

China (912.7K units)
Hong Kong SAR (430.3K units)
Japan (106.0K units)
Thailand (63.7K units)
United States (54.2K units)
South Korea (43.2K units)
Taiwan (Chinese) (21.1K units)
Singapore (10.0K units)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the golf equipment market in Vietnam. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 32301530 - Golf clubs and other golf equipment (including golf balls)

Country coverage:

Vietnam

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Vietnam
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023