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The market trends and analysis report covers an in-depth analysis of market growth factors like innovation and portfolio expansion leading to product premiumization. There is a notable upward trend in the increasing adoption of sustainable fabrics. However, change in trade policies hinders market growth.
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Companies are implementing various market growth and forecasting strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.
Adidas AG - The company offers cycling jerseys such as graphic jerseys, bib shorts, short sleeve cycling jerseys and others
The market report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including 2XU Pty Ltd., Adidas AG, ASSOS of Switzerland GmbH, Black Sheep Cycling, CCN Sport Ltd., Cycle Clothing Ltd., Endura Ltd., Giant Manufacturing Co. Ltd., Jaggad Pty Ltd., Le Col, Manifattura Valcismon SpA, Pending System GmbH and Co. KG, Pentland Brands Ltd., Rapha Racing Ltd., Recreational Equipment Inc., SHIMANO INC., Trek Bicycle Corp., Troy Lee Designs Inc., Velocio LLC, and Vista Outdoor Inc.
Qualitative and quantitative analysis of market growth and trends of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified. Furthermore, market growth and forecasting it is also quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
Innovation and portfolio expansion leading to product premiumization is notably driving market growth. The use of new technologies and product innovations has allowed manufacturers to come up with cycling jerseys that are innovative in terms of design, quality, and features. Vendors are extending their product lines to include jerseys for all age groups, which can be demanded by both professionals and amateurs. Increasing purchasing power, coupled with the rising preference for innovative, comfortable, and lightweight jerseys, is driving the sales of such products. For instance, Rapha Racing Ltd., one of the major vendors operating in the market, offers Rapha Brevet Jersey. This jersey is equipped with merino blend fabric, which is antibacterial and has natural wicking properties.
Similarly, Adidas offers ADISTAR CYCLING JERSEY, which is made from a warm knit material and contains an aerodynamic bolero cut. Trek Bicycle Corp., one of the major companies, offers Bontrager Meraj Women's Cycling Jersey. The jersey is equipped with 37.5 active-particle technology that maintains the ideal body temperature. Product premiumization is increasing the sales of cycling jerseys. In addition, premiumization enables manufacturers to improve customers' engagement with their brands and products. Therefore, such factors will significantly contribute to the growth of the market during the forecast period.
Increasing adoption of sustainable fabrics is an emerging trend shaping market growth. Over the last few years, many vendors are offering jerseys made from sustainable or recycled fabrics. Apparel made from synthetic or man-made fibers such as Polyester and Nylon is not eco-friendly as its production method consumes a large amount of water, chemicals, and others. The raw materials, as well as by-products released, are sometimes toxic and may cause various health issues. Recycled fabrics are made from recycled plastic bottles or even recycled polyester fabric. Pearl Izumi, a leading brand of Shimano Inc., uses recycled fabric for the production of cycling jerseys. The company uses Econyl's yarn, which is made from recaptured fishnets, carpet, and garment scraps, and Hyosang's nylon recycler yarn for the production of apparel, including cycling jerseys.
Additionally, the company aims to increase the usage of such recyclable, renewable, and organic materials by more than 20%-25% for the production of apparel in 2020, including cycling jerseys. The above-mentioned factor is recognized as one of the major trends in the market. Therefore, the increasing adoption of sustainable fabrics will propel the growth of the market during the forecast period.
Change in trade policies is a significant challenge hindering market growth. Changing trade policies and tariffs due to changing ruling and political parties in prominent markets are adversely affecting the business potential of vendors in the sports apparel market, including cycling jerseys. Vendors' financial conditions and operational results are negatively influenced by changes in trade policies. In the US, changes in regulations and policies governing trade can adversely affect vendors' business. Recently, the US recently witnessed extensive changes in trade policies, such as increased tariffs on imports of sports apparel, including jerseys, and others that have had negative impacts on international vendors' (such as Adidas and Trek Bicycle Corp.) performance.
Moreover, most international vendors have established their production plants in developing countries such as China, and any changes in import tariffs in the US may lead to alterations in business operations, such as a shift of production units from developing to developed countries. Such factors may lead to heavy expenses for vendors, leading to an increased cost of production. Therefore, changes in trade policies and trade tariffs may hinder the growth of the market during the forecast period.
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The market share growth by the offline segment will be significant during the forecast period. The revenue of the offline distribution channel comes from the sales of products through specialty stores (including brand-owned stores, multi-brand stores, apparel stores, fashion and personal accessories stores, and sports equipment stores), hypermarkets, supermarkets, convenience stores, clubhouse stores, and department stores. The revenue of this segment has been declining gradually over the years, owing to the increasing preference for online shopping.The offline segment was the largest and was valued at USD 302.30 million in 2018. Hypermarkets and supermarkets offer a variety of brands and stock-keeping units (SKUs) at competitive prices. Further, Walmart Inc. (Walmart) is the largest hypermarket in the US that offers sports merchandise, including cycling jerseys. Department stores are one-stop solutions for shopping. The availability of all products at a single stop is the major reason for the popularity of department stores. Target Brands Inc. (Target Brands) and Sears Brands LLC (Sears Brands) are two of the popular department stores that sell cycling jerseys. Therefore, the offline segment will grow in the market during the forecast period.
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Based on the end-user, the market has been segmented into men, women and children. The men segment will account for the largest share of this segment.?
APAC is estimated to contribute 32% during the forecast period.
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Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. The growth of the market in Europe can be attributed to the high level of leisure activities in the region and the increasing attention of people on health and fitness. The major countries in the market in Europe are the UK, Germany, and France, which have witnessed a steady growth in the number of cyclists recently. Moreover, the rising household incomes and the increasing demand for fitness activities support the growth of the market in the region. For instance, in the EU, household real income per capita increased by 3.8% in the third quarter of 2020 after a decrease of 2.8% in the second quarter of 2020.In addition,
In addition, the initiation of marketing communications and marketing strategies, which play a vital role in communicating value propositions and setting up trends, drives the growth of the market in Europe. Social media has become a dynamic tool for the promotion of premium cycling jerseys. Digital magazines, blogs, and pictorial communication are the most used marketing strategies by vendors to engage their target audience. Vendors are actively leveraging social media platforms, such as Instagram, Pinterest, Facebook, Twitter, Tumblr, and Snapchat, to promote the novel trend of cycling jerseys. Hence, the market in Europe will grow during the forecast period.
Cycling jersey market trends are influenced by various factors such as government initiatives promoting sustainable transportation and improved cycling infrastructure. Growing health awareness and concerns about obesity drive consumer preference towards living healthier lifestyles and participating in sports and fitness activities. Rising disposable incomes further contribute to the demand for cycling-related products, including innovative offerings like the Zero Sweat Sport Tees. Despite the opportunities in emerging countries, there are challenges such as the high cost associated with certain products, prompting a focus on more accessible options like electric bicycles. Concerns about cyclic deaths and advancements in the automobile industry necessitate a strategic analysis of market growth and adherence to trade regulations.
Moreover, the market landscape involves intricate import-export analysis, production scrutiny, and value chain optimization. The impact of domestic and localized market players, coupled with potential in emerging revenue pockets, shapes the market under specific market regulations. Geographical expansions are driven by technological innovations, product approvals, and launches, ensuring a competitive edge and catering to diverse application niches in the market.
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Cycling Jersey Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2023 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.3% |
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Market growth 2024-2028 |
USD 372.2 million |
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Market structure |
Fragmented |
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YoY growth (%) |
8.6 |
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Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 32% |
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Key consumer countries |
US, China, Japan, Germany, and France |
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Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
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Key companies profiled |
2XU Pty Ltd., Adidas AG, ASSOS of Switzerland GmbH, Black Sheep Cycling, CCN Sport Ltd., Cycle Clothing Ltd., Endura Ltd., Giant Manufacturing Co. Ltd., Jaggad Pty Ltd., Le Col, Manifattura Valcismon SpA, Pending System GmbH and Co. KG, Pentland Brands Ltd., Rapha Racing Ltd., Recreational Equipment Inc., SHIMANO INC., Trek Bicycle Corp., Troy Lee Designs Inc., Velocio LLC, and Vista Outdoor Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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