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The cycling wear market size is forecast to increase by USD 1.81 billion at a CAGR of 8.02% between 2024 and 2028. The market's growth is driven by several factors, including the increased adoption of cycling for fitness, the rising participation of women in cycling activities, and the significant impact of celebrity endorsements on purchase decisions. More people are turning to cycling to stay fit, and the growing number of female cyclists is expanding the market. Additionally, endorsements by celebrities play a crucial role in influencing consumer choices, further boosting market growth. These factors collectively contribute to the increasing popularity and demand in the cycling industry.
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The Cycling Wear Market is booming as cycling wear apparel and cycling wear accessories gain popularity among consumers. Items like shorts, jackets, leggings, gloves, and jerseys are essential for both health enthusiasts and participants in sporting events. Doctors and health coaches recommend cycling to combat chronic diseases such as hypertension and obesity. Regular cycling habits help reduce health-related problems like high blood pressure. Health trainers emphasize the benefits of health and fitness, promoting regular cycling practices to mitigate the ill effects of sedentary lifestyles. The market also focuses on safety, with visible cycling jackets and headgear aiming to lower the accident rate. Overall, cycling wear is vital for promoting active, healthy lifestyles.
One of the key factors driving the market growth is the increased adoption of cycling to maintain fitness. Globally, hectic lifestyles and the lack of physical activity are the major reasons for a surge in the number of health conditions and other diseases. Participation in sports or other physical activities, such as cycling, significantly reduces the chances of diseases such as type 2 diabetes, metabolic syndrome, stroke, arthritis, and certain types of cancer.
Regular physical activities improve physical and mental wellness and are known to alleviate depression, anxiety, tension, and anger. The growing awareness about life-threatening diseases is encouraging people to engage in regular exercise routines and sports activities. Hence, sports and fitness activities such as cycling are gaining popularity, and participation in various amateur and professional cycling events is increasing. Therefore, awareness about the benefits of healthy lifestyles is propelling the demand for fitness equipment such as bicycles and add-on products such as cycling wear. Such factors will increase the market growth during the forecast period.
The customization of cycling wear, especially for corporate users, associations, and clubs is one of the major market trends. Customization is available for various types of wear. The customization is based on designs, colors, names, branding, and raw materials. In the last five years, the popularity of customized products has increased in developed regions such as the Americas and Europe. Emerging countries such as China and India are witnessing a growing demand for customized goods, including customized cycling wear.
Customized cycling wear is priced higher than regular cycling wear. The company offers these products at different price points to suit different customer needs and budgets. The company offers customization based on the logo, pattern, and choice of color based on customer selection. Globally, customization of cycling wear has increased wear purchases. During the forecast period, the customization of cycling wear is expected to increase the revenues of companies. Such factors will increase the market growth during the forecast period.
The availability of counterfeit products is one of the key challenges hindering market growth. The growing market prospects for sportswear such as cycling wear and the surging demand for such sportswear are increasing the penetration of counterfeit wear, especially in developing regions. Another major reason for the increased demand for and the availability of counterfeit products is the high cost of original brand cycling wear.
Counterfeit products are made of low-quality raw materials and are less durable. E-commerce channels, with their widespread networks, propel the distribution, sales, and reach of counterfeit products by making them accessible across regions. Sometimes, customers face difficulties in differentiating genuine and counterfeit products as they appear similar. This proves to be a severe price challenge for brands across the world. Such factors will decrease the market growth during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Adidas AG - The company offers cycling wear such as the padded cycling BIB shorts and the short sleeve cycling jersey.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis 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; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The revenue of the offline segment in the 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. To boost sales through offline channels, global vendors are expanding their stores in local and regional markets. The manufacturers of sports merchandise and other equipment sell their products through both specialty stores and other retailing formats. This scenario also intensifies the competition in the market.
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The offline segment was the largest segment and valued at USD 1.62 billion in 2018. To survive in such a competitive market and to tackle the declining preference for offline shopping, retailers are introducing new business and retail strategies, such as better pricing strategies and wide assortments. For instance, adidas AG (Adidas), one of the major players in the global cycling wear market, maintains consumer experience and reach with its more than 2,300 retail stores, more than 14,000 mono-branded franchise stores, and 150,000 wholesale points across the globe.
Moreover, vendors also focus on improving their offline sales by widening their operations in different locations. This helps them to generate the volume sales of products efficiently and cater to various consumer categories in large geographic areas. The huge growth of retail channels in different regions will drive customer familiarization with different types of cycling wear. Although the offline segment is losing its market share to the online segment, innovative marketing strategies by vendors will keep the growth rate of the offline segment steady, which in turn will boost the growth of the global cycling wear market during the forecast period.
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North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The cycling wear market caters to consumers seeking comfort and durability during their health and fitness pursuits. Tights and jackets, essential cycling apparel, offer moisture resistance and windproofness for optimal performance. Moisture wicking fabric is a crucial feature, mitigating the sweating problem that can hinder cycling experiences. Waterproofness is another essential attribute, particularly for those cycling in inclement weather. High visibility cycle wear, often in vibrant hues like orange and yellow neon, ensures safety on the roads. Headgear, an integral cycle wear accessory, protects against the elements and enhances safety.
Moreover, regular cycling practices offer numerous health benefits, including improved cardiovascular health and reduced risk of health-related problems such as high blood pressure. However, prolonged cycling can lead to ill effects, necessitating the use of high-quality cycling wear. Cycling wear materials are engineered to address these concerns, with advanced fabrics offering superior moisture resistance, breathability, and windproofness. These features not only enhance the cycling experience but also contribute to the overall well-being of the consumer. In summary, the cycling wear market is a thriving industry that caters to the needs of health-conscious consumers. Tights, jackets, and accessories are designed with comfort, durability, moisture resistance, windproofness, and high visibility in mind, ensuring a safe and enjoyable cycling experience.
Segment Overview
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The cycling wear market is a significant sector in the global sports industry, encompassing a wide range of apparel and accessories designed for cycling enthusiasts. Cycling wear includes clothing items such as jerseys, shorts, and jackets, as well as protective gear like helmets, gloves, and shoes. The market is driven by several factors, including the increasing popularity of cycling as a recreational and competitive sport, the growing awareness of health and fitness, and advancements in fabric technology. Additionally, the market is influenced by consumer preferences for comfort, durability, and style. The cycling wear industry caters to various segments, including road cycling, mountain biking, and touring, among others. Companies focus on innovation and sustainability to meet the evolving needs of consumers and stay competitive in the market.
Moreover, the market is expanding as health awareness and the popularity of cycling as a hobby increase. Key products include cycle wear apparel such as safety vests, beanies, and moisture-wicking clothing to manage sweat. Cycle wear accessories like designer reflective tape enhance visibility in vehicular traffic and varied background environments, crucial for reducing cycle death rates. The rise of electric bicycles and improvements in cycling infrastructure, including bicycle crossings and parking facilities, support market growth. The segment also caters to adventure sports enthusiasts and addresses health-related problems. Innovations in climate and environment adaptability, along with advances in automobiles, impact the market. Overall, the cycling wear market thrives by meeting the needs of diverse product segments.
Market Scope |
|
Report Coverage |
Details |
Page number |
167 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.02% |
Market growth 2024-2028 |
USD 1.81 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
7.26 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 35% |
Key countries |
US, Germany, China, France, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Adidas AG, ASSOS of Switzerland GmbH, Black Sheep Cycling, CCN Sport Ltd., Cycle Clothing Ltd., Garmin Ltd., Giant Manufacturing Co. Ltd., Jaggad Pty Ltd., Le Col, Manifattura Valcismon SpA, Mysenlan, Nike Inc., Pentland Brands Ltd., Rapha Racing Ltd., Recreational Equipment Inc., SHIMANO INC., Trek Bicycle Corp., Troy Lee Designs Inc., Velocio LLC, and Vista Outdoor Inc. |
Market dynamics |
Parent market analysis, Market Forecasting, 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 |
Customization purview |
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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 Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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