The market research report titled “India Golf Industry Outlook to 2020 – Growth in Golf Based Real Estate Projects and Golfers Population to Aid Market Growth” provides a comprehensive analysis of Golf Industry in India. The report initially showcases the valuation of Golf economy in India through direct and indirect measures, with detail valuation of every cluster associated with Golf Industry. The report provides detail insights on every cluster related to Golf Industry such as Golf Course Construction, Golf Course Residential Real Estate Projects, Golf Course Related Equipments, Golf Course Maintenance Equipments, Golf Tourism and Golf Tournaments and Endorsements. The report provides future analysis and outlook for the overall sector and for each cluster as well. It also covers proposed recommendations for the government that has to be taken to support market growth in the near future. The report is useful for Golf Tourist Companies, Golf Maintenance and Equipment manufacturers, Golf Related Equipment suppliers, Golf Courses, Golf Residential Real Estate Developers, Golf Course Construction Companies and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.
India Golf Economy
Indian golf industry is in its infancy stage and is at the inflexion point to enter in a growth phase. Though the sport has low participation rate and less number of annual tournaments as compared to other sports, the game is gaining popularity with recognition of the sport as an Olympic game along with surging interest of real estate and tourism around this sector. The golf economy in general has contributed direct value of INR ~ million during 2015 and has managed to generate ~ jobs during 2015 with an aggregate income generation of INR ~ million. This has translated the total value of golf economy to contribute INR ~ million during 2015.
Golf Facility Operations in India
According to IGU, as on August 2016, there have been a total of ~ registered golf courses, out of which ~ are civilian golf courses and the rest are armed golf courses. In total, the civilian golf courses in India have generated revenues worth INR ~ million during 2015. The revenues for golf courses are generated from multiple sources including green fees, member dues, food & beverage revenues and lessons, schools, camps & pro shops commission revenues. The existing golf courses in India are not profitable due to the higher operating costs associated with maintaining the golf course. The average number of declared playable days in India is around ~, with some courses stating all year-round playability. The average number of total rounds played at 18-hole courses is around ~, while top performers exceed ~ rounds. Out of the ~ golf courses registered with IGU, civilian golf courses have dominated the space with ~ golf courses, while there are around ~ armed golf courses in India as of September, 2016. On the basis of major states, Karnataka accommodates the highest number of golf courses with number being reported at ~ (including civilian and army golf courses) as of September 2016, an increase from ~ golf courses as of December 2013.
In 2013, the number of golfers in India was around ~ people, out of which around ~ golfers played at civilian golf courses. During the last two years, the popularity of golf among civilians has enhanced which has increased the number of civilian golfers to around ~ during 2015.
Golf Related Residential Developments
With the growing preferences among elite class population to play golf has lured real estate developers to focus on real estate developments with golf course as a centric part in their projects. Due to the overwhelming success of golf based real estate projects, now almost ~% of the newly developed golf courses are constructed as a part of residential communities. On an average, it has been observed that golf based real estate projects adds a premium of ~% in the prices of real estate properties where the golf course is developed. The golf based real estate projects have been witnessed to generate revenues worth INR ~ million during 2015, out of which INR ~ million have been generated from the golf premium added to the sector. The premium which is added in nearby real estate projects because of golf courses remains around ~%.
Golf Tourism in India
Golf tourism has developed into a successful business, and there are numerous tour operators tailoring their offers to the specific needs of golfers all over the world. The total economic value which is generated from the inbound golf tourists in India and outbound golf tourists which travel to other countries either to participate or as a viewer have been estimated at INR ~ million during 2015 This includes spending on lodging, transport, food and other recreational expenses. It has been witnessed that out of total foreign professional golfers who visit India to play golf tournaments, around ~% of the professional golfers goes back to their country immediately after the tournament while ~% of the professional golfers goes for a holiday after the tournament is completed. The number of professional foreign golfers travelling to India has been evaluated at ~ in 2015, an increase from ~ in 2010. The total number of Golf tourists traveling to India has been evaluated at ~ people in 2015. An average inbound golf tourist in India spends around INR ~ for each trip made by him/her. The average length of stay for golf tourist in India has been recorded to be under the range of ~ days
Golf Equipment and Supplies Market
The revenues generated from golf equipment and supplies including golf clubs, golf balls, golf accessories and golf apparel have been evaluated at INR ~ million during 2015. Influx of International brands into the Indian market, growing online sales in the market, premium offerings for the products and new products innovations in the market has been the major trends which have boosted the growth of this space. Golf clubs have dominated the equipment and accessories sales in India with a share of ~% in 2015. Followed with golf clubs, golf balls and golf apparel embarked at second and third position with a share in revenues of ~% and ~% respectively during 2015. ~ regions have dominated the sales of golf supplies and equipment during 2015. Although the distribution of number of golf courses has been similar in northern and southern regions, but the sales is relatively higher. The golf equipment and apparel market in India, though currently small, but is one of the fastest growing markets among major golf playing nations. The high growth potential has attracted many popular golfing brands like Callaway, TaylorMade and Titleist in the last decade. Callaway, TaylorMade and Titleist have concentrated the market with a share of ~%, ~% and ~% in market revenues during 2015 respectively.
Golf Tournament and Endorsements Market
During 2015, sponsorship money from golf tournaments organized in India has contributed ~ revenues to the sector which was evaluated at INR ~ million. Followed by this, professional golfers earning in overseas tournaments have added INR ~ million and endorsement income for major golfers in India have contributed INR ~ million in 2015. Indian golfers have already earned the reputation of being very strong on their home turf as well as on the International levels by winning some major titles. The average age of television viewers for golf in India is around ~ years which is far lower than US and UK which falls under the range of ~ years of age. The emergence of celebrity players has contributed to the rising interest in golf.
Golf Course Capital Investments
The golf course architects, designers and developers during the year 2015 have been engaged in ~ assignments for new golf course construction and redevelopment projects. A total of INR ~ million of capital investments have been made towards the development of golf courses in 2015. The total employment generated through golf course development during 2015 was evaluated at ~ people with an aggregate value of INR ~ million. The costs which are incurred to develop a golf course project varies depending upon various parameters, but on an average pre-construction costs constitutes around ~% of the total investment, while the rest goes into construction phase. The planning, designing and development of a typical 9-hole golf course takes around ~ months depending on the topography of the site, the quality of soil, the availability of water, the climatic conditions and of course the expected quality, complexity or playing difficulty of the designed golf course.
Golf Course Maintenance Equipments
The overall market for golf maintenance equipments including turfcare equipments, golf cars and irrigation equipments was evaluated at INR ~ million during 2015. The revenues have been considered from the sales of maintenance equipments only to the golf courses. Some of the major players which have concentrated the market space for golf maintenance equipments include Toro, Rainbird, Jacobsen, Hunter Industries, Surge Systems, Atlas Turf Internatonal, IPI-India and several others.
Key Topics Covered in the Report:
- Comparison of Golf in India with Other Major Asian Countries
- Number of Residential Real Estate Projects with Golf Courses, 2015
- Total Investment in Residential Real Estate Projects based on Golf Courses, 2015
- Major Investment Pockets for Golf Based Real Estate Projects
- Golf Facility Operations in India
- Number of Golf Courses in India, 2009-2016
- New Golf Projects in India, 2010-2016
- Distribution of Number of Golf Courses and Number of Golfers
- Golf Facility Operations Market Size by Revenues, 2015
- Case Studies for Golf Courses
- Size of the Employment Generated at the Golf Course
- Potential for Golf Facility Operations in India
- Number of New Course Development and Total Investment by Golf Course Size
- Size of the Employment Generated from Golf Course Investments, 2015
- Competition among Golf Course Development Companies
- Case Study for Golf Course Developments
- Potential for Golf Course Construction in India
- Total Value Generated by Golf Tournaments and Endorsements, 2015
- Size of the Employment Generated by Golf Tournaments, 2015
- Number of Golf Tournament – Men and Women, 2010-2015
- Major Indian Golf Players Endorsements
- Broadcasting Rights Revenues for Golf
- Potential for Golf Tournaments and Endorsements in India
- India Golf Equipment and Apparel Market Size by Revenues, FY’2010-FY’2016
- Size of the Employment Generated by Golf Equipment and Supplies Companies
- Market Segmentation by Golf Clubs, Balls and Golf Related Accessories, FY’2016
- By Distribution Channels (Physical Golf Retail, Online, Corporate Golf Events), FY’2016
- Market Segmentation by Regional Demand, FY’2016
- Market Share of Major Players in India Golf Equipment and Apparel Market, FY’2016
- India Golf Equipment and Supplies Future Outlook and Projections, FY’2017-FY’2021
- Number of Foreign Tourist Arrivals and their Spending for Leisure, Holiday and Recreation in India
- Total Value Generated by Golf Tourism in India, 2015
- Size of the Employment Generated at the Golf Tourism Companies
- Estimated Number of Golf Tourists in India, 2015
- Spending by Golf Tourists on Hotel, Food, Transportation and Golf, 2015
- Potential Opportunities for Golf Tourism in India
- Current Initiative by Ministry of Tourism / Government to Promote Golf Tourism
- Golf Course Maintenance Equipments Market
- Size of the Employment Generated
- Potential for Golf Maintenance Equipments Market in India
For more information about the publication, refer to below link:
Companies Covered in the Report: Callaway, Taylor Made, Titleist, Mizuno, Ping, Nike, XXIO, Wilson, Pash Tour and Travels, My Golf Tours, Golf Connexions
Products Covered in the Report
Civilian and Armed Golf Courses, Golf Clubs, Golf Balls, Golf Accessories and Apparel, Golf Tourism, Golf Based Real Estate Projects, Golf Tournaments, Turf Equipments, Irrigation and Golf Carts
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Ankur Gupta, Head Marketing & Communications