The global cycling wear market was valued at USD 7.38 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 5.36% over the forecast period from 2024 to 2030, reaching USD 10.64 billion by 2029.
Overview
Cycling wear encompasses a variety of apparel and accessories specifically designed for cycling. These garments are made to provide comfort, support, and protection to cyclists while they ride. The market includes a wide range of products such as cycling shorts, jerseys, leggings, gloves, jackets, and more. The increasing popularity of cycling, combined with rising health awareness and an expanding global cycling culture, has significantly contributed to the market’s growth.
Market Scope
The cycling wear market is expanding rapidly due to a combination of factors such as health-conscious consumers, increasing cycling events, and the rising adoption of cycling as a mode of transport in urban areas. The market is segmented based on product types, distribution channels, and regional markets.
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Market Drivers
- Health and Fitness Awareness: Rising rates of chronic diseases such as hypertension, diabetes, and obesity are driving individuals toward healthier lifestyles, with cycling being a popular choice for fitness.
- Cycling Events: The increasing number of international cycling events, like the Tour de Singkarak and the Tour de Siak, is encouraging more people to engage in cycling, boosting demand for cycling apparel and accessories.
- Technological Innovations: Manufacturers are investing in advanced materials for cycling wear, such as moisture-wicking fabrics, to enhance comfort and performance.
- Cycling Infrastructure: Government initiatives to build better cycling infrastructure are creating favorable conditions for cycling’s popularity.
Market Trends
- Rise in High-Visibility Gear: Products like neon-colored jackets with retro-reflective tape are gaining popularity due to their safety benefits, especially in reducing cycling accidents.
- Sustainable Transport: Growing environmental concerns are leading more people to adopt bicycles as an eco-friendly mode of transportation, further driving the demand for cycling wear.
- Advancements in Fabrics: Cycling apparel is increasingly being designed with specialized materials that wick moisture away from the body, improving comfort for cyclists, especially in varying weather conditions.
Segmentation
- By Product:
- Cycling Apparel: The apparel segment dominated the market with a 70% share in 2023. Products in this segment include shorts, jackets, leggings, gloves, tights, and jerseys, made from flexible, durable, and moisture-wicking materials.
- Cycling Accessories: This segment is expected to witness the fastest growth, particularly due to the rising demand for helmets and other safety gear. Notably, helmets with WaveCel technology have revolutionized safety standards.
- By Distribution Channel:
- Hypermarkets and Supermarkets
- Specialty Stores
- E-Commerce
- Others
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Key Players
Prominent companies operating in the cycling wear market include:
- LUMIERE CYCLING (Australia)
- ASSOS of Switzerland GmbH (Switzerland)
- Giro (USA)
- Champion System International (Hong Kong)
- Castelli Cycling (Italy)
- United Apparel Solution Ltd (Hong Kong)
- Endura Limited (Italy)
- Rapha Performance Roadwear (UK)
- 2XU Pty. Ltd (Australia)
- Isadore Apparel (Slovakia)
- Tewsn Cycling Gear Limited (China)
Regional Analysis
- Europe: Dominating the market with a 34% share in 2023, Europe has a well-established cycling culture. Countries like Finland and the Netherlands lead in cycling adoption, with over 70% of the population using bicycles for various activities.
- Asia Pacific: Expected to grow at a CAGR of 6% from 2024 to 2030, the Asia Pacific region is experiencing a surge in cycling events and consumer demand, especially in countries like China, Japan, and South Korea.
- North America: Growing interest in cycling for fitness and commuting is expected to drive the North American market.
- Middle East and Africa & South America: While smaller, these regions are expected to see steady growth in cycling events and infrastructure development.
Key Questions Answered
- What is the current size of the global cycling wear market?
- What are the key factors driving the growth of the cycling wear market?
- Which regions are expected to experience the highest market growth?
- What are the major trends shaping the market over the forecast period?
- Who are the leading players in the global cycling wear market?
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024-2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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