At 7.25% CAGR, Cycle Apparel Market Size is expected to generate a revenue of USD 7.41 Bn by 2029, Globally: Brandessence Market Research

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Brandessence Market Research And Consulting Private Limited

Apr 25, 2023, 10:10 ET

LONDON, April 25, 2023 /PRNewswire/ -- The Cycle Apparel Market size is anticipated to reach a valuation of 7.41 Bn by 2029 from 4.54 Bn in 2022, registering a CAGR of 7.25% over the forecast duration of 2022-2029.

The growing popularity of cycling, both as a competitive sport and a leisure activity, has led to a surge in demand for cycle apparel. This apparel has a range of beneficial characteristics such as moisture-wicking, reduced air resistance, and stretch-ability, which are attractive to a variety of people.         

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Global Cycle Apparel Market Outlook (2022-2029)

The increasing global popularity of cycling tournaments has further increased the use of such apparel, and the introduction of cycling activity to children at a young age is having a positive effect on the cycle apparel market. Manufacturers are now providing novel apparel specifically designed for kids, and the popularization of cycling at tourist hotspots is also acting as a major boost for product sales.

The introduction of smart cycle apparel that emits light in the dark is providing a promising opportunity for the growth of the market. This technology can help reduce the risk of nighttime cycling accidents.   

Competitive Hierarchy

In an effort to gain a larger market share, major players in the industry are emphasizing product innovation and the development of new products. For example, Rapha, a cycle product manufacturer, recently released a turbo-specific clothing line for indoor cycling. This line includes sleeveless t-shirts, core cargo shorts, and an indoor training towel intended to reduce sweat. Some of the major companies in the global cycle apparel market are as follows:

  • ASSOS
  • Adidas AG
  • Black Sheep
  • Grant Manufacturing Company
  • Specialized Bicycle components
  • Trek Bicycle Corporation
  • Halfords Group
  • Velocio International

Segmental Outlook

By Type

  • Professional Cycling Apparel
  • Amateur Cycling Apparel

By Application

  • Male Cyclist
  • Female Cyclist

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Region-Wise Outlook

Which region is dominating the global market?

Europe is expected to be the major player in the cycle apparel market throughout the forecast period. The top countries in the region, such as the Netherlands, Denmark, Germany, and Sweden, have the highest number of bicycles per capita, boosting the sales of cycle apparel. As per the data provided by the World Economic Forum in September 2019, the Netherlands had over 23 million bicycles in 2018 - more than its population of 17 million. Moreover, the growing trend of healthy living in Europe has encouraged more people to take up cycling as exercise, pushing up the demand for cycle apparel.

What are North America forecasts in this industry vertical?

Strong growth in North America is expected during the forecast period as a result of the increasing popularity of cycling sports among young people, which has led to an increase in sales of cycling gear, including apparel. The growing number of people who are environmentally conscious have chosen bicycles as their transport, further contributing to increased consumption. Moreover, the ongoing cycling tournaments, such as the United States National Professional Road Race Championships, established in 1985 and held annually since then, have helped to raise the popularity of cycling sports and boost demand for the product.

Category-Wise Outlook

Which type segment is the fastest growing in cycle apparel market?

The product has divided the market into two segments: professional and amateur. It is expected that the amateur segment will be the larger market due to its standard quality and affordability. Furthermore, the product also has a number of features commonly found in professional apparel, but at a lower cost, driving up demand.

Which is the leading product segment in this business sphere?

The global market is divided into four types: jersey, gloves, jackets, and other. Jersey is forecasted to be the dominant type, due to its ability to reduce air resistance and wick away sweat, as well as keep the body cool in hot weather.

Which application segment is anticipated to dominate the global market?

It is expected that the male market will be larger due to the greater number of men participating in cycling, as well as the higher number of cycling championships held for men. Cycling UK's 2018 data shows that males of all ages make around 2.5 times as many cycling trips as females.

Ongoing trends of global Cycle Apparel Market

The increasing popularity of cycling as a leisure activity or as an exercise to stay fit and healthy is one of the key drivers of market growth. Sports-related promotions, such as BMX, cycle speedway, and mountain biking on television, print media, and social media, have also contributed to increased apparel purchases.

The UCI Mountain Bike World Championships, which has been held since 1990, has attracted viewers and fans around the world, aiding the rise of cycling and product demand. Additionally, cycling marathons held by local or state officials, which allow members of the public to participate, have helped to fuel product sales due to the increased interest in cycling sports. Furthermore, the health benefits of cycling, such as strengthening bones, reducing body fat, and decreasing stress levels, have driven cycling activities and consequently boosted product demand.

On Special Requirement Cycle Apparel Market Report is also available for below region:

North America

  • U.S, Canada

Europe

  • Germany, France, U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe

Asia-Pacific

  • South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC

Latin America

  • Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America

Middle East and Africa

  • Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA

Major Developments

  • In December 2017, a Swiss cycle apparel brand, ASSOS, unveiled its new website, aiming to enhance the online shopping experience for the consumer.
  • In March 2018, Pentland announced the acquisition of cycle apparel brand Endura. This move is expected to help Endura extend its reach and expand its customer base in the cycle apparel sector.

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