Cycling wear includes various accessories and clothing items like cycling jerseys, shorts, gloves, eyewear that provide comfort and safety during cycling. They keep the rider cool through moisture-wicking fabrics and secured through pads and joints. With growing health issues, people are increasingly adopting cycling as a fitness activity. This has propelled the demand for specialized cycling wear that offers breathability and protects from impacts during rides on diverse terrains.
The global Cycling Wear Market is estimated to be valued at US$ 5632.18 Mn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising health awareness has propelled the Global Cycling Wear Market Size as a fitness activity in recent years. As more people take up cycling, the demand for specialized cycling wear has also increased significantly. Manufacturers are focusing on innovative fabrics that keep riders cool and comfortable in different weather conditions through the day. They are offering breathable, lightweight and stretchable fabrics that move moisture away from the skin and allow maximum mobility. The growing popularity of casual and leisure cycling has also augmented the sales of versatile and fashionable cycling jerseys and shorts. Furthermore, advancements in padding technology have improved joint protection and shock absorption in gloves and shorts. Such developments are expected to drive the cycling wear market substantially over the forecast period.
SWOT Analysis
Strength: Cycling wear provides protection from accidents and injuries while cycling. It also enhances safety and comfort.
Weakness: High costs associated with branded and high-quality cycling wear limits its adoption. Fashion conscious customers prefer less durable but trendy apparel.
Opportunity: Rising health awareness and fitness trends are driving the adoption of cycling as an exercise activity. This increases demand for dedicated cycling wear.
Threats: Preference for alternative fitness activities and sports poses challenges. Economic slowdowns could reduce discretionary spending on specialized apparel.
Key Takeaways
The Global Cycling Wear Market is expected to witness high growth.
Regional analysis: The Europe region currently dominates the cycling wear market owing to high cycling popularity and supportive infrastructure for cycling activities. However, the Asia Pacific region is expected to grow at the fastest pace during the forecast period supported by rising health awareness, disposable incomes, and government initiatives to promote cycling in countries like China and India.
Key players operating in the cycling wear market are Alpha MOS, E-Nose Pty, The E-nose Company, Electronic Sensor technology, Scent Science Corporation, Airsense Analytics GmbH, Scentsational Technologies, Scensive Technology, Envirosuite Limited, RoboScientific Ltd., Chromatotec and Intelligent Optical Systems, Inc. The market is fragmented in nature with the presence of several global and local brands. Leading players focus on new product launches, partnerships, and mergers & acquisitions to gain shares and cater to the rising demand.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it