The global cycling wear market is projected to expand by USD 1.81 billion from 2024 to 2028, according to a report by Technavio.
The market is expected to grow at a compound annual growth rate (CAGR) of 8.02% during this period, driven by the increasing adoption of cycling for fitness and the rising demand for customized cycling apparel.
Market Dynamics and Key Players
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The market’s growth is fueled by a trend toward customization in cycling wear, catering to corporate users, associations, and clubs, especially in developed regions such as the Americas and Europe.
Customized options include unique designs, colors, logos, and branding, appealing to the premium segment with higher price points. Emerging markets in China and India are also seeing a surge in demand for personalized cycling wear.
However, the proliferation of counterfeit products presents a significant challenge. These imitations, often of inferior quality, undermine the sales and reputation of authentic brands.
To combat this, companies need to maintain competitive pricing and invest in advertising and promotional efforts. Major players in the market include Adidas AG, ASSOS of Switzerland GmbH, Black Sheep Cycling, CCN Sport Ltd., Cycle Clothing Ltd., Garmin Ltd., Giant Manufacturing Co. Ltd., Jaggad Pty Ltd., Le Col, Manifattura Valcismon SpA, Mysenlan, Nike Inc., Pentland Brands Ltd., Rapha Racing Ltd., Recreational Equipment Inc., SHIMANO INC., Trek Bicycle Corp., Troy Lee Designs Inc., Velocio LLC, and Vista Outdoor Inc.
Market Segmentation and Regional Insights
The cycling wear market is segmented by distribution channel (offline and online), product type (clothing, footwear, and others), and geography (Europe, North America, APAC, South America, and the Middle East and Africa). North America leads with a 35% market share, driven by strong consumer interest and robust retail infrastructure.
In the offline segment, specialty stores, hypermarkets, and supermarkets continue to generate significant revenue, although the rise of online shopping has prompted vendors to expand their physical presence and enhance in-store experiences. Adidas, for instance, operates over 2,300 retail stores globally and has around 150,000 wholesale points.
Innovation and Sustainability
The demand for high-performance, lightweight, breathable, and durable cycling apparel is driving innovation in materials such as Lycra and Gore-Tex, known for their moisture-wicking and wind-resistant properties.
Brands are also focusing on adding functional features like reflective strips for safety and adjustable waistbands for comfort. Additionally, there is a growing trend toward eco-friendly and sustainable materials, responding to consumer preferences for ethical manufacturing processes.
Challenges and Opportunities
The availability of counterfeit products remains a major challenge, particularly in developing regions. E-commerce platforms, while convenient, also facilitate the spread of these fake goods, complicating efforts to ensure authenticity. Additionally, the high cost and limited availability of key materials like Lycra pose challenges for manufacturers.
Despite these obstacles, the market is poised for substantial growth. The rising popularity of cycling as a fitness activity, along with the increasing number of cycling events and the health benefits associated with the sport, continue to drive demand.
Strategic approaches focusing on innovation, sustainability, and competitive pricing will be crucial for market players to navigate these challenges and capitalize on the growing market.
For a detailed analysis on regions, market segments, customer landscape, and companies, view the snapshot of this report or download a sample report from Technavio.
About Technavio
Technavio is a leading global technology research and advisory company. Their extensive research and analysis focus on emerging market trends, providing actionable insights to help businesses identify market opportunities and develop effective strategies.
With a report library of over 17,000 documents covering 800 technologies across 50 countries, Technavio serves a diverse client base, including more than 100 Fortune 500 companies. Their insights help clients navigate changing market scenarios and optimize their competitive positions.
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