The global Asia Pacific Cycling Wear Market is estimated to be valued at US$ 1,388.6 Mn in 2022 and is expected to exhibit a CAGR of 9% over the forecast period 2021 to 2028, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Cycling wear includes products such as jerseys, jackets, gloves, bib shorts, t-shirts, and others that are specially designed to provide comfort during cycling. Cycling wear offers features such as moisture wicking, thermal regulation, breathability, UV protection, and stretch construction for improved mobility. The growing number of health-conscious individuals participating in cycling activities is driving the demand for high-performance cycling wear.
Market key trends:
One of the key trends in the Asia Pacific cycling wear market is the increasing demand for multi-purpose cycling wear. With the growing popularity of gravel cycling, e-bikes, and indoor cycling, consumers are looking for versatile apparel that can be used for various types of cycling. Leading brands are introducing cycling kits and accessories that offer UPF protection as well as functionality for different surface conditions. Another major trend is the rising focus of manufacturers on sustainability. They are using eco-friendly fabrics made from recycled materials to reduce the environmental footprint of cycling apparel production.
Segment Analysis
The Asia Pacific cycling wear market is dominated by cycling shorts segment. Cycling shorts are specifically designed shorts for road and mountain biking that provide comfort, fit, and performance. They are made with moisture-wicking and breathable fabrics to keep riders dry and offer built-in padding in the chamois to reduce pressure and friction. The dominance of this segment can be attributed to the growing popularity of leisure cycling, recreational cycling, and cycle touring across Asia Pacific countries like China, Japan, South Korea, Australia, and India. These activities require proper cycling attire like shorts for added comfort during long rides.
Key Takeaways
The Asia Pacific cycling wear market is expected to witness high growth, exhibiting a CAGR of 9% over the forecast period, due to increasing awareness about fitness and health benefits of cycling. The growing health and environmental concerns coupled with government initiatives to promote cycling are encouraging more people in the region to take up cycling on a regular basis.
Regional analysis
China accounts for the largest share in the Asia Pacific cycling wear market owing to the presence of major bicycle manufacturers in the country and an enormous cycling enthusiast base. India is projected to rise at the fastest pace during the forecast period supported by rising health consciousness among Indian population and expanding cycling infrastructure in major cities.
Key players
Key players operating in the Asia Pacific cycling wear market are JRD Cycling, Castelli Cycling, Giro Sport Design, Champion System, Conquest Cycle Wear Ltd., 2XU Pty. Ltd., Endura Limited, Isadore Apparel, Rapha Racing Limited, Attaquer Pty Ltd., Lumiere Cycling, Panache Cyclewear Co., Cadence Collection, Voler Inc., and Ornot. These companies are focusing on developing innovative, lightweight and comfortable cycling apparel to cater to the changing needs of cyclists across different cycling genres.
