Cycling Apparel Market

Cycling Apparel Market Analysis by Product (Topwear, Bottomwear, Accessories, Gloves), Sales Channel (Sports Variety Stores, Franchised Stores, Sports Retail Chains, Modern Trade Channels, Direct-to-Customer Channel, Third Party Online Channel), Demographics (Men, Women, Kids) & Region Forecast till 2033

Analysis of Cycling Apparel market covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Cycling Apparel Market Outlook

The global cycling apparel market is expected to garner a market value of US$ 7.67 Million in 2023 and is expected to accumulate a market value of US$ 12.49 Million by registering a CAGR of 5% in the forecast period 2023-2033.

In addition, the cycling apparel market growth is pushed by the increasing preference for cycling, given the inherent health benefits of this sport. The market for cycling apparel registered a CAGR of 3.9% in the historical period 2018-2022.

The cycling apparel market report reveals that the sales of cycling apparel are expected to remain concentrated in developed nations of North America and Europe, while on the other hand, Asia Pacific excluding Japan (APEJ) region is expected to reflect significant growth potential apropos of cycling apparel demand.

Market growth is attributed to rise in awareness related to health and fitness among consumers across the globe. There has been a rise in the health-related problems, such as diabetes, high blood pressure, and obesity, amongst the youth and middle-aged people.

Many doctors and health trainers advise regular cycling practices to people, which helps to reduce the ill effects of many aforementioned medical conditions. Additionally, consumers in urban areas nowadays prefer riding bicycles as a sustainable mode of transportation, which is expected to propel market growth over the forecast period.

Manufacturers of cycling wears and gears have been coming up with a wide range of cycling apparel and gears to gain customer loyalty towards cycling wear products. There has been an increase in the adoption of the high visibility cycling jacket in the market. For instance, in 2017, according to a study conducted in Demark on more than 6900 cyclists, cyclists who wear high visibility jackets had 47% less accident rate to those who are not wearing jackets. These jackets make the wearer more visible to vehicular traffic and make them stand out against their background environment. Highly visible colors such as orange and yellow neon with designer retro-reflective tape are commonly used for this application.

The climate and environment can affect cycling sports significantly, thus manufactures are focusing on fabric of the cycling wear. These wears are typically made of a unique material that has the moisture-wicking ability.

Moisture-wicking is the process in which the fabric pulls sweat off the skin and brings it outside of the garment, helping the wearer to stay cool. Companies are investing significantly in research and development in these lines to design innovative products and reduce the sweating problem.

Report Attributes

Details

Anticipated Base Year Value (2022)

US$ 7.3 Billion

Expected Market Value (2023)

US$ 7.67 Billion

Projected Forecast Value (2033)

US$ 12.49 Billion

Global Growth Rate (2023-2033)

5% CAGR

Expected Market Share of North America Market (2022)

35%

Expected Market Share of Europe (2022)

40%

Major Companies Analysis

  • Adidas Ag
  • Assos of Switzerland
  • Blacksheep
  • Upland Sports Group(Capo)
  • Giant Bicycle Inc
  • Rapha racing Limited
  • Specialized Bicycle Component
  • Trek Bicycle Corporation
  • Velocio International
  • Ornot

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Sales Analysis of Cycling apparel (2017-2021) Vs. Market Forecast Outlook (2023-2033)

According to Fact.MR, the market cycling apparel market registered a CAGR of 5% in the historical period 2017-2021.

Bicycle riding has been gaining traction amongst people in many European nations, such as the Netherlands, Finland, and Germany. For instance, in April 2018, according to a report published by the Netherland Institute for Transport Policy, bicycles account for 25% of daily mobility by the people in the country for various purposes, such as leisure, work, and shopping education. Increasing preference for bicycle usage for daily activities is expected to have a positive influence on market growth over the forecast period.

Moreover, many cycling events are organized every year around the globe with the growing popularity of adventure sports and events. For instance, international cycling races such as Tour de Singkarak, Tour de Flores, Tour de Siak International Tour de, and Banyuwangi Ijen are some of the famous events that are organized every year in order to promote cycling and cycling tourism across the world. However, the outbreak of coronavirus pandemic in 2020 is expected to restrain the market growth for a couple of years owing to a decrease in regional and international cycling competitions.

Thus, the market for cycling apparel is expected to register a CAGR of 9% in the forecast period 2023-2033.

Which are Some Prominent Drivers of Cycling Apparel Market?

Inclination towards cycling along with launch of products bolstering cycling apparel market

Gradually progressing cycling industry coupled with significant growth of sports apparel industry continue to remain instrumental in influencing the demand of cycling apparel worldwide. For instance, in United States demand for cycling quadrupled in the past few years, reveals World Bank analysis.

Albeit wide adoption among low income groups of people, cycling has also proliferated across medium and high income classes, mainly driven by personal liking and preference for sustainable awareness. This has largely propelled the adoption of cycling apparel, in turn driving growth of cycling apparel market.

In consonant with consumer demand for cycling apparel, manufacturers are introducing a wide range of novel cycling apparel to gain customer loyalty towards the respective cycling apparel brand as well as higher visibility among untapped customer base.

In addition, manufacturers of cycling apparel are adopting omnichannel approach for distribution of cycling apparel as they touch base with dealers, vendors and third party suppliers to provide a seamless experience to customers preferring cycling apparel.

Cycling Apparel Market: Looked Upon as Sustainable Transport

With growing concerns regarding environment protection against greenhouse emissions, EPA has been striving to regulate the carbon dioxide emissions from vehicles in a bid to improve environment health. That said, cycling being a socially, environmentally and economically sustainable activity, it promotes environment health along with physical health.

Albeit being a feasible means of transport, accidents are prone to occur that can induce a level of reluctance among cyclists. This has promoted cycling safety by mandating use of gears such as cycling apparel.With cycling gaining higher significance as a sustainable transport mode, the demand for cycling apparel is likely to witness steady rise during the period of forecast, thus fuelling growth of cycling apparel market.

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What are the Challenges Faced by the Cycling Apparel Market?

Growing Cyclist Death to Induce Sense of Reluctance

Increasing number of cyclist deaths has induced a sense of reluctance among people which is likely to hamper the growth of cycling apparel market. Albeit a higher percentage of population preferring cycling, road accident factor is likely to reduce the count in the coming years, which can impede the use of cycling apparel.

According to Governor’s Highway Safety Association (GHSA), deaths among cyclist due to road accidents is increasing by 12.2 percent per year. This coupled with automobile development is likely to create challenges for cycling activates, in turn hindering adoption of cycling apparel.

Comparative View of Cycling Apparel Markets

Cycling Apparel Market :

Attributes

Cycling Apparel Market

CAGR (2023-2033)

5%

Market Value (2032)

US$ 12.49 Billion

Growth Factor

Increasing cycling events across the globe is bolstering the demand for cycling apparel market.

Opportunity

Penetration of international and local players across the globe is creating lucrative opportunities for cycling apparel market.

Apparel Accessories Market :

Attributes

Apparel Accessories Market

CAGR (2023-2033)

6%

Market Value (2032)

US$ 24 Billion

Growth Factor

Collaborations between E-commerce channels will expand their customer base is creating lucrative opportunities for apparel accessories market.

Opportunity

Upcoming startups will enhance the buying standards of consumers. This, in turn, is expected to drive apparel accessories market during the forecast period.

Sports Apparel Market :

Attributes

Sports Apparel Market

CAGR (2023-2033)

5%

Market Value (2032)

US$ 362.3 Billion

Growth Factor

The demand for versatile, trendy, convenient, and fashionable sports apparel is on the rise. This, in turn, is driving the growth of sports apparel.

Opportunity

The key players in the sports apparel market are making use of media industry and are greatly spending on advertising and celebrity brand endorsements, to influence consumers to engage in sports and fitness activities are boosting the demand for sports apparel.

Region-Wise Insights

Europe Fostering Adoption of Tops and Bottoms in the Coming Years?

Demand for breathable apparel gaining traction for cycling apparel market in Europe

Albeit at a moderate pace, the demand for cycling apparel across regions in the globe has witnessed remarkable growth underpinned by various benefits including comfort, reducing air resistance, increase breathability and wind block. That said, European countries have reflected impressive growth in cycling culture that has further surged with introduction of electric and hybrid cycles.

World Bank reveals that around 60 percent of population in Finland use bicycles while Netherlands holds the top position with high number of bicycles per capita. Moreover, 655,000 people are involved in the cycling industry representing higher employment rate than in quarrying and mining.

These factors have influenced the use of cycles, in turn raising the demand for various cycling apparel such as tops and bottoms, consequently pushing the growth of cycling apparel market. Thus, Europe is expected to possess 40% market share for cycling apparel in 2023.

Increasing Cycling Activities Creating Lucrative Opportunities for Cycling Apparel Market in North America?

International and national cycling tournaments bolstering growth of cycling apparel market

North America, particularly the United States have showcased high inclination towards use of cycling apparel on the back increasing cycling activities in the country. According to World Bank analysis, United States’ inclination towards cycling has been marked by the presence of several international and national cycling tournaments.

Moreover, with a two-fold rise in cyclist count in Canada and United States in the past two decades, demand for cycling apparel such as tops and bottoms including shorts, tights and pants, jerseys, jackets and t-shirts, is likely to surge in the forthcoming years strongly impelled by growing GHDI (Gross Household Disposable Income) of these countries. Thus, North America is expected to hold 35% market share for cycling apparel market in 2023.

Country-wise Forecast CAGRs for the Cycling apparel Industry

Country CAGR

U.S.

4%

Canada

4%

Netherlands

5%

Finland

4.5%

Category-Wise Insights

Influence of Digital Marketing Boosting Sales of Cycling Apparel on Third Party Online Channels?

Convenience of online shopping and affordable rates favoring sales of cycling apparel form third party online channels

Third party online channel is projected to expand at the fastest CAGR of 5.8% from 2023 to 2033. This is attributed to the increasing influence of digital marketing strategies implemented by the brands to sell their products. Additionally, factors such as various affordable discount rates and availability of a wide range of products at the same place are added advantages of this segment.

Low delivery cost and customer reviews about various products on online sites are also playing a vital role in the growth of the segment. Amazon, Rapha, Dick’s sports good, decathlon, and JensonUSA are some of the known online platforms to purchase the product. In addition, the convenience of buying cycling apparel online is favoring sales from third party online channel.

Market Competition

The cycling apparel market is highly unorganized as market comprises a large percentage of small players spread worldwide.

With growing popularity of cycling, manufacturers of cycling apparel competing in the international market are focusing on collaborative efforts with a view to organize the supply chain of the cycling apparel industry as well as advancements in cycling apparel that enhance comfort and usability.

  • In winter 2022, Assos of Switzerland launched an exclusive winter cycling apparel collection that helps in riding for longer durations despite fall’s unpredictable collections.
  • Ford has introduced cycling jacket that is a smart cycling apparel which has sleeves that light up to guide the rider on road. Such design innovations are expected to spur the demand for cycling apparel in turn favoring momentum of cycling apparel market during the forecast period.

Key Segments Profiled in the Cycling Apparel Industry Survey

  • Topwear :

    • Jerseys
    • Jackets
    • T-shirts
    • Body Warmers/Insulators
    • Bottomwear
    • Bib Shorts
    • Tights and pants
    • Gloves
    • Accessories
  • Sales Channel :

    • Sports Variety Stores
    • Franchised Stores
    • Sports Retail Chains
    • Modern Trade Channels
    • Direct-to-Customer Channel
    • Third Party Online Channel
  • Demographics :

    • Men
    • Women
    • Kids
  • Region :

    • North America
    • Latin America
    • Europe
    • APEJ
    • Japan
    • Middle East & Africa

- FAQs -

What was the market worth for cycling apparel in 2022?

As of 2022, the cycling apparel market was worth US$ 7.3 Billion

At what value is the cycling apparel industry likely to close by 2023?

Fact.MR foresees cycling apparel demand to reach US$ 7.67 Billion in 2023

At what percentage will the market for cycling apparel rise until 2033?

From 2023-2033, Fact.MR expects cycling apparel revenue to flourish at a 5% CAGR

What is the expected market value for cycling apparel in 2033?

In 2033, cycling apparel market worth is poised to reach US$ 12.49 Billion

How do growth prospects for cycling apparel appear in the North America?

North America is expected to dominate the global industry in 2023 and account for the maximum share of more than 35% of the overall revenue.

How do growth prospects for cycling apparel appear in the Asia Pacific?

Europe is expected to possess 40% market share for cycling apparel in 2023.

What are the growth prospects for U.S., Canada, India and China?

U.S., Canada, Netherlands and Finland will flourish at a CAGR of 17.5% combined until 2033

Which type of sales channel is expected to hold the maximum share for cycling apparel market?

Third party online channel is projected to expand at the fastest CAGR of 5.8% from 2023 to 2033.

Cycling Apparel Market