NEW YORK, June 9, 2024 /PRNewswire/ -- The global cycling wear market size is estimated to grow by USD 1.81 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  8.02%  during the forecast period. Increased adoption of cycling to maintain fitness is driving market growth, with a trend towards increasing demand for customized cycling wear. However, availability of counterfeit products  poses a challenge. Key market players include 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..

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Market Driver

The customization trend in cycling wear is gaining traction among corporate users, associations, and clubs in developed regions like the Americas and Europe. Customization options include designs, colors, logos, branding, and raw materials. Emerging markets in China and India are also witnessing a rise in demand for personalized cycling wear. Customized cycling wear comes at a higher price point but caters to the premium segment with an aesthetic appeal. ASSOS, a leading vendor, offers customized jerseys and shorts based on logo, pattern, and color choice for corporate clients. This trend is driving up cycling wear sales and is projected to boost vendors' revenues during the forecast period. 

The cycling wear market is experiencing significant growth with increasing popularity in active lifestyles. Heads turn towards high-performance clothing for comfort and style. Cycling apparel includes shoes, pants, jerseys, shorts, and protective gear. High-tech materials like Lycra and Gore-Tex are commonly used for moisture-wicking and wind resistance. Consumers seek lightweight, breathable, and durable clothing for long rides.

Brands focus on innovative designs and functional features, such as reflective strips for safety and adjustable waistbands for comfort. The trend towards eco-friendly and sustainable materials is also gaining traction in the cycling wear market. Consumers appreciate the convenience of online shopping for cycling gear, making e-commerce platforms a key player in the industry. 

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Market Challenges

• The cycling wear market faces challenges from the rise of counterfeit products, particularly in developing regions. These imitations, made with lower-quality materials and sold at reduced prices, impact vendors' sales, reputation, and profit margins. E-commerce platforms expand the reach of counterfeit goods, making it difficult for customers to distinguish them from authentic items. To combat this issue, vendors must price their products competitively while investing in advertising and promotional campaigns. Despite these efforts, the availability of counterfeit cycling wear continues to hinder market growth and profitability.
• The cycling wear market faces several challenges. Key materials like Lycra and technical fabrics are essential for high-performance clothing. However, sourcing these materials can be difficult due to their high cost and limited availability. Additionally, the industry is highly competitive, with many players offering similar products. Differentiating through pricing or product features can be a challenge.
• Sustainability is also a concern, as consumers demand eco-friendly and ethical manufacturing processes. Accidents and injuries are common in cycling, so safety features and protective gear are crucial. Ensuring regulatory compliance and maintaining quality standards can also be challenging. Overall, the cycling wear market requires a strategic approach to address these challenges and stay competitive.

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Segment Overview 

1. Distribution Channel
• 1.1 Offline
• 1.2 Online
2. Product 
• 2.1 Clothing
• 2.2 Footwear
• 2.3 Others
3. Geography 
• 3.1 Europe
• 3.2 North America
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Offline-  The cycling wear market's offline segment generates revenue through sales in specialty stores, hypermarkets, supermarkets, and other retail formats. This segment has been declining due to the rise of online shopping. To counteract, global vendors expand their physical stores and retailers adopt new strategies like better pricing and wide assortments. Adidas, a major player, maintains a strong presence with over 2,300 retail stores and 150,000 wholesale points. Vendors also broaden their operations to cater to diverse consumer categories and geographic areas, ensuring the offline segment's steady growth during the forecast period.

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Research Analysis

The Cycling Wear Market encompasses a wide range of apparel and accessories designed specifically for consumers engaged in cycling activities. Key product categories include Cycling Wear Apparel such as Shorts, Jackets, Leggings, and Jerseys, as well as Accessories like Gloves and Headgear. This market caters to individuals dealing with Chronic Diseases like Hypertension, Diabetes, and Obesity, who can benefit from the health advantages of regular cycling practices.

Doctors and Health Coaches often recommend cycling as a means to mitigate the ill effects of these conditions. Cycling Habits and participation in Cycling Events and Sporting Events have led to an increased demand for visible Cycling Jackets, which ensure safety and enhance the rider's visibility. The Accident Rate among cyclists can be reduced significantly with the proper use of Headgear and other safety accessories. The Health and Fitness industry continues to promote cycling as a viable solution to various health-related problems, further fueling the growth of the Cycling Wear Market.

Market Research Overview

The Cycling Wear Market encompasses a broad range of apparel designed specifically for cycling enthusiasts. These garments prioritize functionality, comfort, and protection. Key features include moisture-wicking materials, padded shorts for enhanced comfort, and aerodynamic designs. Cycling shoes, helmets, and gloves are also essential components of this market.

The industry caters to various cycling disciplines, such as road, mountain, and touring. Innovations in technology lead to advancements in materials and designs, ensuring cyclists can perform at their best while staying safe and comfortable. The market continues to grow as more people adopt cycling as a healthy and eco-friendly mode of transportation.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Distribution Channel
• Offline
• Online
• Product
• Clothing
• Footwear
• Others
• Geography
• Europe
• North America
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio