The global cycling wear market size is expected to reach USD 7.88 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.6% from 2020 to 2027. Cycling wear has been gaining increasing traction among the consumers on account of rise in awareness related to health and fitness worldwide. This is expected to boost the demand for the bicycle and subsequently drive the cycle wear demand over the forecast period.
Moreover, with more and more people moving to urban areas, modern public and private transportation systems are getting over strained. For the residents of metro cities, especially office workers and students, cycles present a cheap and convenient way to navigate through busy streets and long traffic jams. In some cities, public transportation infrastructure simply isn’t that good to be called, so for them bicycles are a good way as a travelling option from one place to other.
Many prominent companies in the cycle related product manufacturing are coming up with new products for the enthusiasts. For instance, Rapha, a cycle product manufacturer, recently launched a new turbo- specific clothing range for the indoor cycling. These clothing range includes sleeveless t-shirts, core cargo shorts, and indoor training towel, which will be effective in sweat reduction.
Electric bicycles are gaining increasing traction in the market owing to government support and consideration of environmental factors. This is anticipated to affect the growth of the riding wear market in future. Moreover, growing consumer inclination towards use of e-bicycle as it consumes less physical energy, is eco-friendly in nature, and is an efficient way to combat busy traffic and surging fuel cost. All these factors are expected to propel the growth of the market in future.
According to the report published by the World Health Organization (WHO), people who cycle from home to work have a 40% lower risk of catching life threating diseases, such as diabetes, and maintaining cholesterol levels, compared to people who drive or take public transport to their workplace. Reduction in noise pollution, reduction in GHG emissions or carbon footprints, advancement of electric bicycles, and promotion of cycling all over the world are some of the other factors anticipated to boost the market growth.
Europe led the market with a share of 29.1% in 2019 and is expected to witness significant growth over the forecast period. This is attributed to growing interest of the people in cycling as a way to keep themselves fit and increasing number of cycling events. This is expected to boost the demand for bicycle and subsequently boost the demand for cycle apparel in future.
Cycling Wear Market Report Highlights
- By product, cycling wear apparel accounted for the largest share of 68.8% in 2019 and is expected to maintain its lead during the forecast period. These products are designed with high category clothing material offering good comfort to the rider, along with other attributes including durability, moisture resistance, waterproof, windproof, and high visibility
- Based on distribution channel, hypermarket and supermarket retail sector accounts for the largest share of more than 39.8 % in 2019, driven by the demand for cycling apparel by the professional and casual riders impending to the safety while riding
- Europe is emerged as the largest regional market with a share of 29.1% in 2019 and is expected to witness significant growth over the forecast period. This is attributed to rise in awareness related to health and fitness among the consumers.
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Cycling Wear Market Segmentation
Grand View Research has segmented the global cycling wear market on the basis of product, distribution channel, and region:
Cycling Wear Product Outlook (Revenue, USD Million, 2016 – 2027)
- Cycle wear apparel
- Cycle wear accessories
Cycling Wear Distribution Channel Outlook (Revenue, USD Million, 2016 – 2027)
- Hypermarket and Supermarket
- Sports Variety Stores
Key Topic Covered
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR’s Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Insights
Chapter 3. Cycling Wear Market Variables, Trends & Scope
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Sales/Retail Channel Analysis
3.3.2. Profit Margin Analysis
3.4. Market Dynamics
3.4.1. Market Driver Analysis
3.4.2. Market Restraint Analysis
3.4.3. Industry Challenges
3.4.4. Industry Opportunities
3.5. Business Environment Analysis
3.5.1. Industry Analysis – Porter’s
22.214.171.124. Supplier Power
126.96.36.199. Buyer Power
188.8.131.52. Substitution Threat
184.108.40.206. Threat from New Entrant
220.127.116.11. Competitive Rivalry
3.6. Roadmap of Cycling Wear Market
3.7. Market Entry Strategies
Chapter 4. Consumer Behavior Analysis
4.1. Consumer Trends and Preferences
4.2. Factors Affecting Buying Decision
4.3. Consumer Product Adoption
4.4. Observations & Recommendations
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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