Cycling wear includes various protective gears that are worn by cyclists such as cycling jerseys, shorts, eyewear, helmets and gloves. Cycling gears offer safety, comfort and breathability during cycling. Rising health awareness has increased the adoption of cycling as a fitness and recreational activity globally. This has driven the demand for specialized cycling wears that enhance performance and protect cyclists.
The global cycling wear market is estimated to be valued at US$ 5632.18 Mn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
One of the key drivers for the growth of the cycling wear market is the rising health consciousness. Increasing prevalence of lifestyle diseases such as diabetes, obesity and cardiovascular diseases has prompted people to adopt healthy lifestyle involving activities like cycling. Regular cycling helps in burning calories and reducing weight. It also improves cardiovascular health and muscle strength. Moreover, governing bodies across countries are promoting cycling by developing dedicated cycling tracks and organizing various cycling events. This is encouraging more people to take up cycling, thereby propelling the demand for specialized cycling wear. Rising disposable income in developing countries is another major factor fueling the adoption of premium cycling gears such as jerseys, shorts and gloves. Superior features including moisture wicking, breathability and UV protection offered by cycling specific clothing is compelling cyclists to purchase branded apparels and gears.
SWOT Analysis
Strength: The cycling wear market has seen rising popularity in recent years due to growing health consciousness among consumers. Demand for high-performance clothing offering better breathability and moisture-wicking abilities has increased. Manufacturers are focusing on developing innovative fabrics which keep cyclists cool and dry during rides.
Weakness: Availability of low-quality counterfeit products selling at lower price points remains a challenge. Duplicate brands copy designs of established cycling apparel manufacturers, affecting brand reputation and sales. Rising raw material costs also impact profit margins for companies.
Opportunity: Growing bicycle tourism and recreational cycling present an opportunity to target new customer segments. Manufacturers can launch affordable casual cycling wear targeting occasional riders and tourists. Increased participation of women and kids in cycling will require gender and size-specific products.
Threats: Economic downturns and decline in disposable incomes lower spending on non-essential items like specialized cycling gear. Rising threat from other workout clothing distracting customers. Trade tensions and global supply chain disruptions pose risks.
Key Takeaways
The Global Cycling Wear Market Size is expected to witness high growth over the forecast period of 2024 to 2031 supported by increasing health awareness and participation in cycling activities worldwide.
The North America region currently dominates the cycling wear market owing to high bicycle ownership and presence of major manufacturers. Countries like the United States and Canada have seen rising interest in recreational cycling boosting sales of apparel, footwear, and accessories.
Key players operating in the cycling wear market are Alpha MOS, E-Nose Pty, The E-nose Company, Electronic Sensor technology, Scent Science Corporation, Airsense Analytics GmbH, Scentsational Technologies, Scensive Technology, Envirosuite Limited, RoboScientific Ltd., Chromatotec and Intelligent Optical Systems, Inc. Major players are focusing on product innovation, sustainable manufacturing and alliances to strengthen their market presence.
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The global Cycling Wear Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the cycling wear market include Lumiere Cycling, Giro Sport Design, Castelli Cycling, Rapha Racing Limited, Champion System, United Apparel Solution Ltd., Assos of Switzerland GmbH, Endura Limited, Isadore apparel, 2XU.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Cycling Wear Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/cycling-wear-market/download-sampleMarket DynamicsAn increasing number of health issues like diabetes, obesity, high blood pressure, and the eagerness to maintain a healthy lifestyle have motivated many people to integrate cycling as a part of their lifestyle.
Awareness about environmental issues is also an essential factor in the popularity of cycles and cycling wear.
Numerous cycling events are held throughout the year, and the increasing importance of adventure sports is also influencing the market for cycling wear positively.
