May 23, 2024
Cycling Wear Market

Cycling Wear Market Is Set For Rapid Growth Due To Increased Focus On Health And Fitness

The cycling wear market comprises various products such as jerseys, jacket & vests, trousers, gloves, socks, shoes and others. Cycling wear products provide comfort, breathability and moisture-wicking functionality to cyclists. With growing health concerns among consumers and increasing participation in cycling as an adventure sport or fitness activity, the demand for specialized cycling apparel is growing.

The Global Cycling Wear Market is estimated to be valued at US$ 5632.18 Mn in 2024 and is expected to exhibit a CAGR of 12% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Cycling Wear 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 key opportunities in the Cycling Wear Market Trends include increased demand for technically advanced products offering benefits like UV protection, antibacterial properties and moisture wicking. Manufacturers are also focusing on sustainable and environment-friendly materials for cycling apparel.

Technological advancements like compression fibers that aid performance and recovery, fabrics infused with cooling agents are gaining popularity. Some companies have also developed e-textiles integrated with electronics and sensors for performance tracking, notifications and GPS navigation.

Market Drivers

A major market driver for the cycling wear industry is the growth of indoor cycling activities and smart bike sales. Indoor cycling classes offered by gyms and specialized cycling studios are gaining mass popularity as they offer a convenient low-impact workout. Along with this, the availability of technologically advanced indoor bikes with interactive classes and performance tracking features is driving more people towards cycling as an alternative to running or outdoor cycling. This increasing focus on health and fitness through indoor cycling is fueling demand for specialized cycling attire.

Current Challenges in Cycling Wear Market

The cycling wear market is facing challenges like increasing price of raw materials due to high inflation and supply chain disruptions. Production cuts taken by manufacturers during the pandemic led to demand-supply mismatch post lockdowns. Changing consumer preferences towards more sustainable and technical fabrics have forced brands to invest heavily in R&D. Stricter environmental norms also increase compliance cost.

SWOT Analysis

Strength: Developing advanced features like moisture wicking, UV protection and ergonomic fitting gives an edge.
Weakness: Heavy reliance on seasonal demand and weather changes sales. High inventory carrying cost if demand not as expected.
Opportunity: Growing health and fitness trends boost cycling as lifestyle. Cities developing cycling infrastructure expands customer base.
Threats: Competition from other fitness equipments and alternative modes of commute limits market growth prospects. Economic slowdowns impact discretionary spending.

Geographical Regions

North America accounts for over 30% of global cycling wear market value led by United States. Presence of leading brands, fitness awareness and eco-friendly mindset support growth. Europe is the second largest region dominated by countries like Germany, France and Italy due to popularity of cycling as mode of daily commute and leisure.

Fastest Growing Regions

Asia Pacific cycling wear market is witnessing double digit growth between 2024 to 2031. Countries like China, India and Vietnam contribute largest with increasing middle class, urbanization and investments in cycling infrastructure. Latin America and Middle East & Africa offer huge untapped potential for industry players on back of rising health consciousness.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.