Golf is arguably much more than using clubs to hit small, hard balls into a series of holes — it can be an exciting sport that presents business opportunities and health benefits.
Besides being a fun sport where people compete and can strike business deals, golf offers various mental and physical benefits.
The sport, played on a large open-air course, can reportedly improve mental well-being, reduce stress and anxiety, help maintain mental alertness and physical fitness, and promote weight loss.
What Do The Numbers Say?
These benefits have made golf an attractive sport. As a result, the industry is seemingly booming. Many also followed golf on television or online, read about the game or listened to a golf-related podcast.
A report by the National Golf Foundation (NGF) revealed that in 2021, 37.5 million Americans ages 6 and older played golf — both on-course and off-course. This included 25.1 million people who played on a golf course.
The report also found that another 12.4 million people participated exclusively in off-course golf activities at driving ranges, indoor golf simulators or golf entertainment venues like Topgolf and Drive Shack Inc. DS.
Rising interest in the sport might be having a positive ripple effect on the industry’s growth. Revenue from golf courses and country clubs in the U.S. is projected to reach approximately $24.7 billion by 2024.
But with market potential, are there enough golf courses for lovers of the sport? There were more than 16,000 courses at 14,000 golf facilities in the U.S. at the end of 2021. That’s more golf courses than Starbucks Corp. SBUX or McDonald’s Corp. MCD stores in the US.
The sport is accessible to most golfers, with about 75% of facilities open to the public. There also seems to be some expansion of facilities to meet the growing demand, which could be good for the industry.
Before 2006, there was a 20-year expansion cycle where U.S. golf course supply grew by 44%. But since 2006, there has been a cumulative contraction of approximately 11%.
Sustainable And Environmentally Friendly Golf Courses?
Expanding facilities to meet growing demand might be necessary, but as the world seeks to reduce greenhouse gas emissions to halt climate change, some in the industry are saying it should be done in a sustainable and environmentally friendly way.
One company, SusGlobal Energy Corp. SNRG, claims it is ready for that task. The company says it is advancing human, pet and environmentally friendly products that can be used on golf courses in North America.
SusGlobal, which claims it is a leader in the circular economy, is an industrial, environmental and agricultural biotechnology company that is a trusted brand for the fertilizer, soil and aquaculture market.
The company developed SusGro™, an award-winning pathogen-free organic liquid fertilizer.
SusGlobal believes the fertilizer has the potential to transform the golf industry and aims to sign endorsement agreements with the golf industry and golfers who are environmentalists to get it into the market.
The company hopes to provide certified organic fertilizers for golf greens and microbial products for clean golf course ponds. SusGlobal sees the golf industry as a significantly large market and says it is prepared to fill the demand.
These endorsement initiatives are part of SusGlobal’s circular economy model to produce regenerative products such as organic fertilizers and microbial solutions for aquaculture. The SusGlobal diversion program is part of what the company says are its plans designed to reduce greenhouse gas emissions and monetize carbon credits.
The company’s management reports a primary objective to grow SusGlobal into a significant, sustainable waste-to-energy and regenerative products provider and a trusted brand for the fertilizer, soil and aquaculture market.
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