Cycling Wear Market by Product Type (Clothing, Eyewear, Footwear), Distribution Channel (Offline Stores, Online Stores), End-User - Global Forecast 2024-2030
The Cycling Wear Market size was estimated at USD 4.36 billion in 2023 and expected to reach USD 4.60 billion in 2024, at a CAGR 5.95% to reach USD 6.54 billion by 2030.
Cycling wear includes a wide range of products designed specifically for cyclists, including apparel, footwear, protective gear, and accessories. Increased health awareness among individuals regarding the health benefits of outdoor sports activities such as cycling is elevating the usage of various cycling wear. The growing popularity of eco-friendly modes of transportation has bolstered the demand for bicycles and corresponding accessories, expanding the scope for cycling wear. In addition, the ongoing government initiatives worldwide promoting fitness activities are propelling the demand for cycling wear. High manufacturing costs associated with producing high-quality products and limited awareness about specialized cycling clothing hamper the market's growth. The ongoing development of smart clothing products that incorporate electronic sensors for monitoring vital signs, tracking performance metrics, or offering navigational guidance is expected to create lucrative opportunities for market growth.
Regional Insights
The growing implementation of government initiatives to support and promote sports and outdoor activities across the U.S. and Canada boosts the market growth in the Americas. According to the U.S. Bureau of Labor Statistics, in 2021, 96% of Americans spent time on sports and leisure activities. In February 2023, the Government of Canada provided USD 450,000 in funding for Cycling Canada to eliminate barriers and increase participation in recreational sports for underrepresented groups. Progressing product launching activities and the presence of key players in the region are significant factors driving the usage of cycling wear. Rising investments encouraging outdoor sports activities to increase the number of athletes across the European region with favorable governmental initiatives positively influence the demand for cycling wear in the EMEA. The rapid expansion of eCommerce platforms in the Asia-Pacific, Europe, and the Americas creates a potential platform for the growth of the cycling wear market.
Market Insights
- Market Dynamics
The market dynamics represent an ever-changing landscape of the Cycling Wear Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.- Market Drivers
- Increasing participation in outdoor sports activities worldwide
- Rising adoption of eco-friendly modes of transportation
- Availability of government initiatives to increase participation in fitness activities
- Market Restraints
- High cost of manufacturing cycling wear products
- Market Opportunities
- Continuous advancements in the development of eco-friendly materials for manufacturing sustainable cycling wear
- Rising inclination toward smart cycling wear
- Market Challenges
- Limited awareness about specialized cycling clothing and design complexities
- Market Segmentation Analysis
- Product Type: Rising R&D activities to introduce advanced types of cycling apparel
- Distribution Channel: Increasing availability of various range of cycling wear through online platforms
- End-User: Expanding preference of high-quality cycling wear by professional cyclists
- Market Disruption Analysis
- Porter’s Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Cycling Wear Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Cycling Wear Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments- PEARL iZUMi and Nathan Owner, United Sports Brands, Acquired by Norwest Equity Partners
Norwest Equity Partners successfully acquired United Sports Brands, a conglomerate of six distinguished sporting and lifestyle brands, including the cycling apparel specialist PEARL iZUMI and the active nutrition innovator Glukos. The company aims to fuelUnited Sports Brands' continued development through new product innovation and bolster its international presence across over 65 countries.
MVC Group Acquires Majority Stake in Triathlon Gear Company Zoot
MVC Group acquired a controlling interest in the U.S.-based triathlon apparel specialist Zoot Sports. This acquisition, entailing a 70% stake in the American company, represents a significant step for MVC Group as it looks to solidify its position within the high-performance athletic wear segment.
Pas Normal Studios Extends its Global Footprint by Opening Singapore and Munich Flagship Stores
Pas Normal Studios, a cycling apparel company from Denmark, is pursuing ambitious global expansion goals with the recent opening of two flagship stores in Singapore and Munich. With these new additions, the brand now boasts seven flagship stores across Asia, Europe, and North America. These physical spaces serve as more than just retail outlets as they provide a gathering place for cyclists to participate in weekly social and training rides and host various events.
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Cycling Wear Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Cycling Wear Market, highlighting leading vendors and their innovative profiles. These include 2XU Pty Ltd., 7mesh Industries Inc., Adidas AG, ASSOS of Switzerland GmbH, Black Sheep Cycling, Bohangsports, Café du Cycliste, Capo Cycling Apparel, Champion System, Chrome Industries, Inc., DHB Sport, DUER, Endura Limited by Pentland Brands Limited, GIRO SPORT DESIGN by Vista Outdoor Inc., Hangzhou Lameda Sports Co., Ltd., Isadore Apparel, JRD Cycling, La Fonte Pads SRL, La Passione Srl, Le Col, Louis Garneau, Lusso Bike, MAAP Co Pty Ltd., Madison Clothing by H Young (Operations) Ltd., Maloja Clothing USA Inc., Manifattura Valcismon S.p.A., Marcello Bergamo Australia, Mission Workshop, LLC., Moment CC, Monton Sports, NIKE, Inc., Oakley, Inc., Ornot Bike, Osloh Bicycle Jeans, Pas Normal Studios ApS, Pearl izumi by United Sports Brands, POC Sweden AB, Proviz Sports, Puma SE, Rapha Racing Limited, Runtowell, SANTINI S.P.A., Shimano Inc., Sigr AB, Specialized Bicycle Components, Inc., SRAM LLC, The Pedla, Triple2 Sportswear GmbH, Vaela Limited, and W. L. Gore & Associates, Inc..
Market Segmentation & Coverage
This research report categorizes the Cycling Wear Market to forecast the revenues and analyze trends in each of the following sub-markets:- Product Type
- Clothing
- Eyewear
- Footwear
- Hand Gloves
- Head Gear
- Knee & Elbow Pads
- Distribution Channel
- Offline Stores
- Hypermarkets
- Retail Stores
- Specialty Stores
- Online Stores
- End-User
- Professional Cyclist
- Recreational Cyclist
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
Please Note: PDF & Excel + Online Access - 1 Year
- Americas
- Offline Stores
- Market Drivers
- 1. Preface
- 1.1. Objectives of the Study
- 1.2. Market Segmentation & Coverage
- 1.3. Years Considered for the Study
- 1.4. Currency & Pricing
- 1.5. Language
- 1.6. Stakeholders
- 2. Research Methodology
- 2.1. Define: Research Objective
- 2.2. Determine: Research Design
- 2.3. Prepare: Research Instrument
- 2.4. Collect: Data Source
- 2.5. Analyze: Data Interpretation
- 2.6. Formulate: Data Verification
- 2.7. Publish: Research Report
- 2.8. Repeat: Report Update
- 3. Executive Summary
- 4. Market Overview
- 5. Market Insights
- 5.1. Market Dynamics
- 5.1.1. Drivers
- 5.1.1.1. Increasing participation in outdoor sports activities worldwide
- 5.1.1.2. Rising adoption of eco-friendly modes of transportation
- 5.1.1.3. Availability of government initiatives to increase participation in fitness activities
- 5.1.2. Restraints
- 5.1.2.1. High cost of manufacturing cycling wear products
- 5.1.3. Opportunities
- 5.1.3.1. Continuous advancements in the development of eco-friendly materials for manufacturing sustainable cycling wear
- 5.1.3.2. Rising inclination toward smart cycling wear
- 5.1.4. Challenges
- 5.1.4.1. Limited awareness about specialized cycling clothing and design complexities
- 5.2. Market Segmentation Analysis
- 5.2.1. Product Type: Rising R&D activities to introduce advanced types of cycling apparel
- 5.2.2. Distribution Channel: Increasing availability of various range of cycling wear through online platforms
- 5.2.3. End-User: Expanding preference of high-quality cycling wear by professional cyclists
- 5.3. Market Trend Analysis
- 5.3.1. Vibrant cycling culture, developing an eco-friendly cycling wear line, and significant government initiatives in expanding cycling infrastructure across Americas
- 5.3.2. Government investments for cycling infrastructure development coupled with the proliferation of e-commerce in the APAC region
- 5.3.3. Presence of major native market vendors with rising sports sponsorship in the EMEA region
- 5.4. Cumulative Impact of High Inflation
- 5.5. Porter’s Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
- 5.6. Value Chain & Critical Path Analysis
- 5.7. Regulatory Framework Analysis
- 6. Cycling Wear Market, by Product Type
- 6.1. Introduction
- 6.2. Clothing
- 6.3. Eyewear
- 6.4. Footwear
- 6.5. Hand Gloves
- 6.6. Head Gear
- 6.7. Knee & Elbow Pads
- 7. Cycling Wear Market, by Distribution Channel
- 7.1. Introduction
- 7.2. Offline Stores
- 7.3. Online Stores
- 8. Cycling Wear Market, by End-User
- 8.1. Introduction
- 8.2. Professional Cyclist
- 8.3. Recreational Cyclist
- 9. Americas Cycling Wear Market
- 9.1. Introduction
- 9.2. Argentina
- 9.3. Brazil
- 9.4. Canada
- 9.5. Mexico
- 9.6. United States
- 10. Asia-Pacific Cycling Wear Market
- 10.1. Introduction
- 10.2. Australia
- 10.3. China
- 10.4. India
- 10.5. Indonesia
- 10.6. Japan
- 10.7. Malaysia
- 10.8. Philippines
- 10.9. Singapore
- 10.10. South Korea
- 10.11. Taiwan
- 10.12. Thailand
- 10.13. Vietnam
- 11. Europe, Middle East & Africa Cycling Wear Market
- 11.1. Introduction
- 11.2. Denmark
- 11.3. Egypt
- 11.4. Finland
- 11.5. France
- 11.6. Germany
- 11.7. Israel
- 11.8. Italy
- 11.9. Netherlands
- 11.10. Nigeria
- 11.11. Norway
- 11.12. Poland
- 11.13. Qatar
- 11.14. Russia
- 11.15. Saudi Arabia
- 11.16. South Africa
- 11.17. Spain
- 11.18. Sweden
- 11.19. Switzerland
- 11.20. Turkey
- 11.21. United Arab Emirates
- 11.22. United Kingdom
- 12. Competitive Landscape
- 12.1. Market Share Analysis, 2023
- 12.2. FPNV Positioning Matrix, 2023
- 12.3. Competitive Scenario Analysis
- 12.3.1. PEARL iZUMi and Nathan Owner, United Sports Brands, Acquired by Norwest Equity Partners
- 12.3.2. MVC Group Acquires Majority Stake in Triathlon Gear Company Zoot
- 12.3.3. Pas Normal Studios Extends its Global Footprint by Opening Singapore and Munich Flagship Stores
- 12.3.4. Mips Makes USD 7.3 Million Investment Into Quin
- 12.3.5. Mission Workshop Flow Collection Blends Style with Performance
- 12.3.6. KOROYD Partners with French Cycling Brand, Ekoï
- 12.3.7. Aleck and SMITH Announce Strategic Partnership to Integrate Crash Sensor Technology into Bike Helmets for 2024
- 12.3.8. Patta and Rapha's Sports Collaboration Inspires the Next Generation of Cyclists
- 12.3.9. Rapha and Paul Smith Collaboratively Launch a New Collection Inspired by '60s Jersey Design
- 12.3.10. Café Du Cycliste X Look Cycle Collaboration Celebrates French Style And Performance
- 13. Competitive Portfolio
- 13.1. Key Company Profiles
- 13.2. Key Product Portfolio
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