Golf retail spans manufacturer sales, product categories, venue transactions and the participation patterns that create demand. The figures below use company-reported 2022–2024 results and U.S. World Handicap System data from January 1 through November 30, 2024, so they describe important indicators rather than a complete market total.
Key Golf Retail Statistics
The most useful headline figures are:
- Acushnet reported $2,457.1 million in net sales for the year ended December 31, 2024 across its consolidated business.
- Topgolf Callaway Brands reported $4,239.3 million in total net revenue in 2024 across its consolidated business.
- Acushnet golf-ball net sales reached $786.5 million in 2024 in its global business.
- Acushnet golf-club net sales reached $721.3 million in 2024 in its global business.
- Topgolf Callaway Brands reported $1,060.9 million in golf-club revenue in 2024 across its global channels.
- Topgolf Callaway Brands reported $321.1 million in golf-ball revenue in 2024 across its global channels.
- Acushnet Titleist golf equipment net sales were $1,507.8 million in 2024 in the global business.
- Acushnet FootJoy golf-wear net sales were $574.6 million in 2024 in the global business.
- Topgolf Callaway Brands reported $676.5 million in apparel revenue in 2024 across its global business.
- Acushnet U.S. net sales were $1,446.8 million in 2024 for the company’s United States geography.
- Acushnet Korea net sales were $291.0 million in 2024 for the company’s Korea geography.
- Topgolf Callaway Brands U.S. revenue was $3,102.5 million in 2024 including venue services and product revenue.
- 3.35 million U.S. golfers maintained a Handicap Index in the 2024 USGA dataset covering January 1 through November 30.
- U.S. World Handicap System users posted more than 77 million scores in that 2024 dataset.
- There were 13,798,174 nine-hole scores posted by U.S. WHS users in 2024.
- Nine-hole score posting was nearly 40% higher in 2024 than in 2020 in the USGA WHS data.
Contents
- Key Golf Retail Statistics
- Golf Retail Company Sales and Market Scale
- Golf Equipment, Ball and Club Retail Trends
- Golf Apparel, Footwear and Gear Statistics
- Golf Retail Sales by Region and Geography
- Golf Participation Data Shaping Retail Demand
- Golf Retail Channels, Venues and Product Mix
Golf Retail Company Sales and Market Scale
Company filings provide a measurable view of golf-related commerce, but they should not be treated as a single industry-market estimate. Acushnet’s figures are consolidated company sales, while Topgolf Callaway Brands combines venue services, equipment, apparel and other products.
| Company measure | 2022 | 2023 | 2024 |
|---|---|---|---|
| Acushnet net sales | $2,270.336m | $2,381.995m | $2,457.1m |
| Topgolf Callaway total net revenue | $3,995.7m | $4,284.8m | $4,239.3m |
Acushnet’s 2024 Form 10-K reports $2,457.1 million in net sales for the year ended December 31, 2024, compared with $2,381.995 million in 2023 and $2,270.336 million in 2022. These are company revenues, not total golf-retail revenue.
Topgolf Callaway Brands’ 2024 Form 10-K reports $4,239.3 million in total net revenue for 2024, versus $4,284.8 million in 2023 and $3,995.7 million in 2022. The measure includes venue services, equipment, apparel and other products, so it is broader than pure retail.
Acushnet reported $214.3 million in net income attributable to the company and $404.4 million in adjusted EBITDA for 2024. Net income is an accounting result, while adjusted EBITDA is a company-defined non-GAAP measure; neither is a golf-retail industry profit estimate.
Golf Equipment, Ball and Club Retail Trends
Manufacturer net sales show how major golf-equipment businesses performed before products move through retail or other channels. Acushnet’s 2024 product figures show different reported-currency trends for balls and clubs.
| Equipment measure | 2024 result | 2024 change |
|---|---|---|
| Acushnet golf balls | $786.5m | 3.3% reported currency; 4.0% constant currency |
| Acushnet golf clubs | $721.3m | 9.5% reported currency; 10.4% constant currency |
| Topgolf Callaway golf clubs | $1,060.9m | Not supplied |
| Topgolf Callaway golf balls | $321.1m | Not supplied |
Acushnet’s golf-ball net sales were $786.5 million in 2024, up 3.3% in reported currency from $761.7 million in 2023. The company also reported a 4.0% increase on a constant-currency basis, which is a company-defined non-GAAP comparison.
Acushnet golf-club net sales were $721.3 million in 2024, with a 9.5% reported-currency increase and a 10.4% constant-currency increase from 2023. These are manufacturer net sales, not retail sell-through.
Topgolf Callaway Brands reported $1,060.9 million in golf-club revenue and $321.1 million in golf-ball revenue for 2024. Its category revenue covers on-course, off-course, online and direct channels, so it is not limited to stores.
Golf Apparel, Footwear and Gear Statistics
Golf retail includes wearable products and accessories alongside clubs and balls. The available company measures use different category definitions, so the figures are useful for scale and direction but are not a complete apparel or accessories market.
| Category | Company and 2024 measure | 2024 change where supplied |
|---|---|---|
| Titleist golf equipment | Acushnet: $1,507.8m | 6.2% reported currency |
| FootJoy golf wear | Acushnet: $574.6m | -2.6% reported currency |
| Golf gear | Acushnet: $232.1m | 4.3% reported currency |
| Apparel | Topgolf Callaway: $676.5m | Not supplied |
| Gear, accessories and other | Topgolf Callaway: $371.4m | Not supplied |
Acushnet Titleist golf equipment net sales were $1,507.8 million in 2024, compared with $1,420.4 million in 2023, a 6.2% reported-currency increase. The segment includes Titleist golf balls and clubs, and Acushnet’s reportable-segment structure changed in the fourth quarter of 2024 by combining those products into Titleist golf equipment.
Acushnet FootJoy golf-wear net sales were $574.6 million in 2024 and declined 2.6% in reported currency. Golf wear is broader than apparel alone, and the figure is manufacturer net sales.
Acushnet reported $232.1 million in golf-gear net sales in 2024, up 4.3% in reported currency. This is the company’s defined golf-gear category, not the whole golf-accessories market.
Topgolf Callaway Brands reported $676.5 million in apparel revenue and $371.4 million in gear, accessories and other revenue in 2024. The apparel category includes multiple brands and channels, while the combined gear category is broader than golf gear alone.
Golf Retail Sales by Region and Geography
Geographic company revenue illustrates where major businesses recorded sales, not the size of each region’s entire golf-retail market. Acushnet separates the United States, EMEA, Japan, Korea and Rest of World, while Topgolf Callaway reports selected geographic revenue.
| Geography | Acushnet 2024 net sales | Topgolf Callaway 2024 revenue |
|---|---|---|
| United States | $1,446.8m | $3,102.5m |
| Europe or EMEA | $320.9m EMEA | $511.1m Europe |
| Japan | $134.0m | Not supplied |
| Korea | $291.0m | Not supplied |
| Rest of World | $264.4m | Not supplied |
Acushnet’s 2024 Form 10-K reports $1,446.8 million in U.S. net sales for 2024, up 7.2% from 2023. Its EMEA net sales were $320.9 million, Japan was $134.0 million, Korea was $291.0 million and Rest of World was $264.4 million.
Acushnet’s Japan net sales declined 10.3% in 2024. That is an Acushnet sales comparison, not evidence that total Japanese golf retail declined by the same amount.
Topgolf Callaway Brands recorded $3,102.5 million in U.S. revenue and $511.1 million in Europe revenue in 2024. Both figures include venue services and product revenue, so they should not be compared directly with a pure retail-sales dataset.
Golf Participation Data Shaping Retail Demand
Participation indicators help explain the potential customer base for golf products, but the USGA figures below cover World Handicap System users rather than every golfer or retail customer. The measurement window is January 1 through November 30, 2024.
The USGA’s Golf Scorecard Provides a 2024 Snapshot of the Recreational Game reports that 3.35 million U.S. golfers maintained a Handicap Index in the 2024 dataset. Those golfers posted more than 77 million scores.
Nine-hole play is a notable part of the recorded activity:
- U.S. WHS users posted 13,798,174 nine-hole scores in the January 1–November 30, 2024 dataset.
- Nine-hole score posting increased 8% from 2023 to 2024 in the USGA WHS data.
- Nine-hole score posting was nearly 40% higher in 2024 than in 2020 in that same data series.
The number of U.S. golfers maintaining a Handicap Index increased more than 6% year over year in 2024 and nearly 30% from 2020 to 2024. These changes describe the USGA WHS population, not all golfers, and they do not measure retail demand directly.
The new-golfer subgroup also shows different recorded formats by sex. Women who established a Handicap Index in 2024 played nine holes more than 50% of the time, while men who established one played nine holes 28% of the time.
Golf Retail Channels, Venues and Product Mix
Golf commerce reaches consumers through equipment businesses, direct and online channels, on-course and off-course outlets, and entertainment venues. Topgolf’s reported venue figures demonstrate why company revenue must be separated into product and service components.
| Topgolf Callaway measure | 2022 | 2023 | 2024 |
|---|---|---|---|
| Venue revenue | Not supplied | Not supplied | $1,728.3m |
| Venue product sales | $18.7m | $16.3m | $17.9m |
| Golf Equipment product revenue | Not supplied | $1,387.5m | $1,382.0m |
Topgolf venue revenue was $1,728.3 million in 2024, but venue revenue is entertainment- and service-led rather than retail product revenue. Other-business-line revenue was $81.1 million, a company-defined category rather than a standalone retail channel.
Topgolf venue product sales were $17.9 million in 2024, compared with $16.3 million in 2023 and $18.7 million in 2022. These venue product sales include clubs, balls, apparel, gear and accessories at company-owned venues and exclude the broader retail market.
Topgolf Callaway Brands’ Golf Equipment product revenue was $1,382.0 million in 2024, compared with $1,387.5 million in 2023. The segment includes golf clubs, golf balls and pre-owned clubs, making it a company segment measure rather than a total-market estimate.
Acushnet’s product mix provides another channel-neutral view of durable and consumable goods. The company said consumable products—golf balls and golf gloves—represented nearly 40% of its 2024 net sales, while durable products—golf clubs, shoes, apparel and gear—represented over 60%.
Those rounded shares use Acushnet’s company-defined groupings and are not estimates for the entire golf-retail market. Together with the company and participation measures above, they show why golf retail statistics should identify the business, channel, geography, population and measurement period behind every number.