Cycling Apparel Market : Up-To-Date Analysis by 2028 | by LUMIERE CYCLING, GIRO SPORT DESIGN, Castelli Cycling

New Jersey, United States - Analysis of Cycling Apparel Market 2022 to 2028, Size, Share, and Trends by Type, Component, Application, Opportunities, Growth Rate, and Regional Forecast

The market for cycling apparel was valued at USD 5.49 billion in 2021 and is anticipated to expand at a CAGR of 4.6% from 2022 to 2028. The expansion of the market is linked to consumers' increased awareness of health and fitness issues worldwide. Health issues like diabetes, high blood pressure, and obesity have become more prevalent among young and middle-aged adults. Regular cycling practices assist people lessen the negative impacts of many of the aforementioned medical disorders, according to several doctors and health trainers. Additionally, customers are increasingly choosing bicycles as a greener means of transportation in urban areas, which is anticipated to drive market expansion throughout the forecast period.

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To increase customer loyalty to cycling apparel items, manufacturers of cycling apparel and gear have been developing a wide selection of cycling apparel and gear. The industry has witnessed an upsurge in the use of high visibility cycling jackets. For instance, a research done in Denmark in 2017 on over 6900 bikers found that individuals wearing high visibility jackets had a 47% lower accident rate than those not wearing them. These jackets increase the visibility of the clothing to oncoming cars and make it stand out from the surroundings. For this application, highly visible hues like orange and yellow neon with stylish retro-reflective tape are frequently employed.

Division segment:

On the basis of product: With a share of 68.8% in revenue in 2022, the cycle apparel segment had the biggest revenue share and is predicted to keep leading during the projection year. The market offers a huge selection of clothing and accessories for cyclists. Leggings, shorts, gloves, beanies, tights, jackets, and jerseys are some of the products included in the cycling apparel section. These products are made of premium clothing materials that provide the rider with good comfort along with additional qualities like toughness, moisture resistance, waterproofness, windproof, and high visibility. Cycling clothing is composed of flexible material to provide additional comfort because it is created to suit and support the body while cycling.

By distribution channel, supermarkets and hypermarkets accounted for the majority of share of 39.9% in 2022. The segment is being driven by various purchasing strategies, a wide variety of products being offered in these establishments, and a particularly strong presence of sports-related product categories. Some of the brands providing significant price reductions on products through these retail sales channels are Decathlon, Nike, and Adidas. The relevance of these channels has also increased due to the growing tendency of sales associates helping customers have enjoyable shopping experiences in these locations.

Regional analysis:

With a 29.1% revenue share in 2022, Europe had the biggest revenue share and is predicted to keep leading over the projected period. The promotion of bicycle use has seen tremendous growth in Europe, and the introduction of electric bicycles has helped it further entrench itself in the market. Nearly 70% of Finns, according to the World Bank, use bicycles for a variety of purposes, including commuting to work and taking leisurely rides.

Over the projection period, Asia Pacific is expected to grow at the quickest CAGR of 5.0%. Cycling events have attracted a lot of interest from nations like South Korea, Japan, and China, which is likely to propel the local industry. Cycling activity is expanding in the nation as a result of consumer preference for using high-quality cycling attire and safety equipment. China is one of the region's most important markets, while Japan and South Korea are emerging markets for cycling apparel.

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Competitive analysis:

Some of the major players in the market are:
• LUMIERE CYCLING
• GIRO SPORT DESIGN
• Castelli Cycling
• Rapha Racing Limited
• Champion System
• United Apparel Solution Ltd. (Cuore of Switzerland Inc.)
• ASSOS of Switzerland GmbH
• Endura Limited
• Isadore apparel
• 2XU

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