The global cycling apparel market size was valued at USD 2.10 billion in 2023. The market is projected to grow from USD 2.19 billion in 2024 to USD 3.36 billion by 2032, exhibiting a CAGR of 5.52% during the forecast period.
The changing lifestyle and fashion trends are driving the adoption of cycling apparel, attracting customers who value functionality and style. Surging disposable incomes of consumers across nations, which make cycling clothing more accessible to a larger population drives the market expansion.
The COVID-19 pandemic had a positive impact on the market due to the increased demand from consumers for shopping cycling gear due to the imposed strict lockdowns.
Fortune Business Insights™ mentions this in a report titled, “Cycling Apparel Market, 2024-2032.”
Information Source: https://www.fortunebusinessinsights.com/cycling-apparel-market-104127
Segments
Casual Style’s Popularity to Augment Amateur Segment Growth
Based on type, the market is classified into professional and amateur. The amateur segment is leading the market driven by the surging popularity of casual styles in cycling clothing.
Surged Performance Enhancement Clothing Augments Jerseys Segment Growth
By product, the market is divided into jerseys, gloves, jackets, and others. The jerseys segment is anticipated to lead the market during the projected period as the market observes a surge in the demand for performance enhancement clothing.
Surging Interest in Adventure Sports Activities to Fuel Male Segment Expansion
By end-user, the market is categorized into male and female. The male segment is dominating the market favored by the increasing interest of men in physical fitness and adventure sports activities.
Offline Segment Leads the Market as they Offer Opportunities for Brands
By distribution channel, the market is classified into e-commerce/online stores and offline. The offline segment holds the largest global cycling apparel market share. The opportunities offered by the offline outlets for brands to generate interactive experiences for customers, including events, demonstrations, and workshops.
Geographically, the market is studied across North America, Asia Pacific, Europe, South America, and the Middle East & Africa.
Top Companies in the Cycling Apparel Market
- Aero Tech Designs Cyclewear (U.S.)
- ASSOS of Switzerland GmbH (Switzerland)
- Monton Sports (China)
- Manifattura Valcismon S.p.A. (MVC Group) (Italy)
- Pearl iZUMi (U.S.)
- Pentland Group (U.K.)
- Rapha Racing Limited (U.K.)
- Vista Outdoor (U.S.)
Report Coverage
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- The latest industry developments include product launches, partnerships, mergers, and acquisitions.
Drivers & Restraints
Surging Recreational Activities’ Popularity to Augment Market Growth
The rising recreational activities’ popularity across different countries boosts product sales, fuels the global cycling apparel market growth. The market is also driven by the number of health benefits, such as stress reduction, mental relaxation, and cardiovascular fitness, offered by recreational cycling.
However, the surging emergence of local companies providing cycling clothing and active wear can hamper the entry of new companies into the global and domestic markets.
Regional Insights
Europe Dominates the Market Owing to Surging Number of Cyclists in Major Countries
Europe dominates the market with surging number of amateur and professional cyclists across Italy, the U.K., Germany, and the Netherlands. It also conducts several large cycling events, which encourage the international market players to expand and innovate their products.
Asia Pacific is expected to witness the highest CAGR during the projected period promoted by the increasing adoption of technological advancements by major brands to sustain market competition.
Competitive Landscape
Key Players are Leveraging Strong Brand Presence to Lead the Market
The major players in the cycling apparel market are leveraging their loyalty and strong brand presence to lead and maintain a competitive edge in the market. In recent years market players have prioritized innovative product development as a critical strategy to maintain competitiveness.
Key Industry Development
October 2022 – Italian cycling apparel and sports goods company Manifattura Valcismon S.p.A. (MVC Group), opened its new flagship store in Spain’s Girona. The new store will create an immersive and unique consumer retail experience, such as delivering complete product information immediately at the consumers’ fingertips.
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