The global cycling apparel market is anticipated to exhibit a healthy CAGR during the forecast period (2013 to 2028), according to a report available on Million Insights. Cycling apparel are clothes that are specifically designed for cycle riders. Both professional and casual riders can wear these apparels for protection or style purpose while riding. Riders can choose from wide range of colors and size according to their fit from dedicated offline and online stores.
Growing health awareness among consumers and rising focus on fitness is anticipated to propel market growth. People are voluntarily using cycle as their exercise equipment and to travel short distance. In addition, people who pick cycling as a recreational activity are first to purchase all necessary apparels. Easy availability of wide range of cycling apparel at online and offline stores is expected to impel market growth. Increasing use of mobile phones and internet has made it easy for consumers to buy clothes online at affordable prices. This factor is also contributing well to cycling apparel market revenue. Moreover, changing consumer preference for environment friendly modes of transportation will drive the market over the forecast period.
To cater to rising demand for cycling apparel, manufacturing companies are investing in R&D to design innovative wears. For instance, in January 2019, 7mesh launched all weather technical apparel range for cyclists. These wears are aimed to protect riders from rain, winter, and crosswinds. The company is looking forward to consumer feedback towards their products in terms of design and performance.
Based on product, the cycling apparel market can be categorized into bottom wear, top wear, gloves, and accessories. Top wear segment can be sub-segmented into t-shirts, rain jackets, jerseys, insulators, gloves, overshoes, and socks. Likewise, the bottom wear segment is bifurcated into tights and bib shorts.
On the basis of application, the market can be classified into male cyclists and female cyclists. Female cyclists segment is anticipated to grow fast over the forecast period owing to increasing involvement of female participants at international level. In 2020, women will participate in four divisions such as Union Cycliste Internationale (UCI) Pro Series, UCI women world tour, and Class 1 and Class 2. Class 1 will have 25 events and class 2 will have 30 events in all.
Regional segmentation includes Europe, Asia Pacific, North America, Latin America, and Middle East and Africa. North America is anticipated to dominate the market and account for highest revenue share over the forecast period. This is attributed to increasing number of cyclists in U.S. and Canada. Most of them are also participating in national and international cycling tournaments, which is further driving demand for apparel compatible to the sport such as bottoms and tops.
Europe, on the other hand, is also expected to witness significant growth cycling culture over the forecast period. This is attributed to increasing use of cycle by people residing in Netherlands and Finland as convenient mode of transportation. This factor is likely to stimulate demand for cycling apparel market, which will consequently push regional market growth in the coming years.
Moreover, Asia Pacific is also expected to grow as potential market in the coming years. Growing adoption of healthy and active lifestyle in countries such as India, Japan, and China is prompting use of cycles. People is ready to try new ways of gaining fitness and nothing could be better than cycling. In addition, growing environmental concerns are also shifting consumer preference from fuel based vehicles to eco-friendly cycles.
Some of the key players in the cycling apparel market are Adidas, Marcello Bergamo, Nike, Trek, and Rapha. Most companies are adopting business strategies such as mergers and acquisitions to expand their product portfolio and to gain competitive edge over others. For instance, Rapha recently launched range of cycling kit in collaboration with British fashion brand Paul Smith. The range includes women’s and men’s jerseys, base layers, bib shorts, t-shirts and caps.
Leading players of Cycling Apparel including:
• Specialized Bicycle
• Marcello Bergamo
• Pearl Izumi
• CCN Sport
Market split by Type, can be divided into:
• Professional Cycling Apparel
• Amateur Cycling Apparel
Market split by Application, can be divided into:
• Male Cyclists
• Female Cyclists
Market split by Sales Channel, can be divided into:
• Direct Channel
• Distribution Channel
Market segment by Region/Country including:
• North America (United States, Canada and Mexico)
• Europe (Germany, UK, France, Italy, Russia and Spain etc.)
• Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
• South America Brazil, Argentina, Colombia and Chile etc.)
• Middle East & Africa (South Africa, Egypt, Nigeria and Saudi Arabia etc.)
Research Support Specialist, USA