Cycling Wear Market expected to maintain its lead over the forecast period

Cycling Wear Industry Overview

The global cycling wear market size was valued at USD 5.49 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 4.6% from 2020 to 2027.

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.

Gather more insights about the market drivers, restrains and growth of the Cycling Wear Market

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.

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.

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.

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.

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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)