Cycling Apparel Market Growth in Top Countries as Italy and Spain and Forecast 2029

The global cycling apparel market size is expected to expand speedily due to the growing popularity of cycling tournaments around the world, finds Fortune Business Insights™ in its report, titled "Cycling Apparel Market, 2022-2029".

The rising number of people giving importance to maintaining a healthy lifestyle has led to an increasing number of participants doing cycling as an exercise, which has resulted in the growth of this market.

Driving Factor

Increasing Use of Professional Cycling Apparel to Fuel Market Growth

There is an increase in the purchase of cycling apparel across the globe, which has resulted in the growth of this market. Further, a large number of people are adopting cycling as an exercise or hobby due to improving health awareness and increasing recognition of the benefits associated with cycling, which is a driving factor for cycling apparel market growth. For example, several studies have shown that cycling can prevent the onset of chronic conditions such as cardiovascular diseases, obesity, and diabetes.

Further, the increase in the number of cycling tournaments around the world is also one of the main factors fuelling this market. For instance, Tour de France is one of the most prestigious and difficult bicycle races that attract the world's best cyclists. The introduction of cycling among children at a very young age and the increase in the number of cycling activities across the world is another driving factor that has contributed to the growth of this market.

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COVID-19 Impact

The outbreak of the COVID-19 pandemic may have a positive impact on the cycling apparel market growth as the pandemic has reiterated the importance of maintaining body health. Moreover, with exercise spaces, such as gyms, being closed down due to social distancing and lockdown, several people have taken up outdoor exercises such as cycling to nourish their bodies with natural air. As the result, the demand for cycling apparel is likely to spike during and after the coronavirus pandemic.

Market Segmentation:

On the basis of product, the market is divided into professional and amateur. Based on type, the market is classified into jerseys, gloves, jackets, and others. By end-user, this market is categorized into males and females. In terms of geography, this market is categorized into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Highlights/Summary:

This research report offers an in-depth study of the driving factors, restraints, and trends related to the growth of the market. In addition, this report offers a detailed evaluation of the market segments and regional developments in the market. Further, the report also incorporates a comprehensive analysis of all possible market segments.

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Drivers/Restraints

Booming Popularity of Cycling to Fuel Market Growth

Due to the growing popularity of cycling as a sport among the younger generation, there has been an increase in the sales of bicycles across the world and most people have chosen to use bicycles as their means of transportation, which, in turn, is driving the growth of this market. For instance, according to the data published by the World Economic Forum, in September 2019, Netherlands has a larger number of bicycles as compared to its total population. Further, Netherlands is also considered the bicycle capital of the world, thereby aiding the adoption of cycling apparel in the country. The market is expected to generate a larger revenue share in 2019 as compared to other sporting gears and it is projected to maintain its lead over the forecast period.

Regional Insights

Widespread Adoption of Cycling as an Exercise to Propel the Market in Europe

Europe is expected to be the leading region in the cycling apparel market share due to the high per capital possession of bicycles in the continent. As a consequence, the demand for cycling-related products has been consistently high in the region. The countries in this region, such as Netherlands, the U.K., and Sweden, have the most number of bicycles, which has led to the growth of this regional market.

North America is considered to be another dominating region with respect to the number of bicycles owing to the rising popularity of cycling as a sport among the youth. This has resulted in a rapidly widening adoption of cycling apparel and gear across the US and Canada.

Competitive Landscape

Strategic Acquisitions by Key Players to Intensify Market Competition

The prominent players in this market are aggressively expanding their presence by taking over smaller cycling apparel companies. These acquisitions are allowing key players to deepen and fasten their hold on the market as well as broaden their global business horizons.

Industry Development:

March 2018: Pentland acquired Endure, a cycling apparel brand based in the UK. The acquisition is expected expand Endura's distribution network and widen its customer reach and scope.

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List of Key Players Profiled in the Cycling Apparel Market Report:

CCN Sport
JAKROO
Marcello Bergamo
Adidas AG
Mysenlan Castelli
Specialized Bicycle
NIKE Inc.

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This release was published on openPR.