Bicycle Apparel Market to Flourish, Reaching US$ 7,029 Mn by 2033 - Persistence Market Research

The global bicycle apparel market is experiencing a dynamic shift, fueled by the increasing popularity of cycling for fitness, commuting, and environmental sustainability. According to Persistence Market Research, the market was valued at US$ 3,857.6 million in 2022 and is projected to reach US$ 7,029.0 million by 2033, growing at a steady CAGR of approximately 5.6% from 2023 to 2033. This growth trajectory is largely influenced by consumer preferences for comfortable, moisture-wicking, and performance-enhancing gear, as well as the expanding trend of electric bicycles and smart cycling gear.

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The most dominant segment in this market is cycling tops, with jerseys holding a notable 58.6% market share in 2022. Meanwhile, North America, led by the United States, continues to be the leading regional market, accounting for a substantial 17.3% share, thanks to the growing culture of outdoor recreational activities and health awareness across diverse income groups.

Key Highlights from the Report

➤ The global bicycle apparel market is projected to reach US$ 7,029.0 Mn by 2033 at a CAGR of 5.6%.
➤ Cycling tops, especially jerseys, held a dominant market share of 58.6% in 2022.
➤ Men's bicycle apparel commanded 63.4% of the market in terms of end-user preference.
➤ Multi-brand stores represented the largest sales channel, contributing to 28% of total sales.
➤ China is set to experience robust growth with a projected CAGR of 7.5%, driven by environmental awareness.
➤ Urban cycling trends and government initiatives are significant growth drivers globally.

Market Segmentation

The bicycle apparel market is segmented based on product type, end-user demographics, and sales channels. In terms of product type, cycling tops-particularly jerseys, jackets, and body warmers-lead the market due to their insulation and aerodynamic features. Cycling bottoms, including bib shorts and tights, are also gaining popularity for their ergonomic design and padding that enhances comfort on long rides. Gloves and accessories like arm sleeves and shoe covers are important additions that complement the apparel range.

When segmented by end-user, men dominate the market, making up over 63% of the total share in 2022. However, there's a noticeable rise in demand among women and kids, owing to increasing participation in family-friendly cycling events and fitness activities. As for sales channels, multi-brand stores account for the largest share due to customer preference for trying products before buying. Nevertheless, online retail is catching up fast, driven by the proliferation of e-commerce platforms and smartphone accessibility.

Regional Insights

North America, particularly the United States, leads the global bicycle apparel market. This dominance is attributed to a strong cycling culture, health consciousness, and diverse outdoor recreational options. Governmental initiatives encouraging eco-friendly transport and the rising adoption of e-bikes have further strengthened the market in this region.

Europe follows closely, with the United Kingdom holding a notable 6.9% market share. European countries have embraced cycling as part of urban mobility, with government subsidies, public cycling lanes, and health campaigns contributing to increased demand for functional and stylish bicycle clothing.

Asia, especially China and India, is witnessing exponential growth. China's market is expanding at a CAGR of 7.5%, bolstered by the push toward sustainable transportation and industrial advancements. India, on the other hand, benefits from rising disposable income and increased interest in outdoor activities, prompting demand for affordable, performance-oriented cycling wear.

Market Drivers

One of the primary drivers behind the growth of the bicycle apparel market is the rising adoption of cycling as a daily commute option and fitness regime. With increasing awareness about the environmental benefits of bicycles and the rising cost of fuel, consumers are shifting towards more sustainable and cost-effective transport. Moreover, the advent of electric bikes has opened the market to a wider audience, including long-distance commuters.

The surge in health and fitness awareness has also been pivotal. Cycling is promoted as a holistic activity that helps prevent obesity, cardiovascular diseases, and lifestyle disorders. As a result, the demand for apparel that enhances comfort, flexibility, and breathability during cycling has risen significantly.

Celebrity endorsements, cycling events, and awareness campaigns have further accelerated consumer interest. Notably, events like World Bicycle Day have become prime opportunities for companies to market their gear and reinforce brand awareness.

Market Restraints

Despite promising growth, the market faces some challenges. The high cost of premium cycling apparel acts as a barrier for price-sensitive consumers. Products with advanced features, such as smart jackets or aerodynamic designs, often carry a steep price tag, limiting accessibility in emerging markets.

Another significant restraint is the seasonal nature of cycling in certain regions. Harsh winters or rainy conditions can reduce outdoor cycling activity, which directly impacts apparel sales. Additionally, the availability of counterfeit or low-quality products in unregulated markets hampers brand reputation and consumer trust.

Market Opportunities

There are immense growth opportunities in the expansion of sustainable and smart cycling apparel. With increasing environmental awareness, consumers are opting for gear made from recycled and eco-friendly materials. Brands like Danny Shane and GRN Sportswear are tapping into this by offering jerseys made from repurposed plastic bottles and fishing nets.

Smart apparel is another area with great potential. Technological advancements like GPS-enabled jackets, moisture-sensing fabric, and UV-protective gear are revolutionizing the industry. Markets in Asia and Latin America, where urbanization and disposable incomes are rising, also present a fertile ground for growth in this sector.

Reasons to Buy the Report:

✔ Comprehensive insights into the global bicycle apparel market trends and growth projections.
✔ In-depth segmentation analysis based on product type, end-user, and distribution channels.
✔ Valuable regional insights across North America, Europe, Asia, and emerging markets.
✔ Detailed profiling of key players and recent developments to track competitive dynamics.
✔ Forecast data till 2033 to support long-term strategic planning and investment decisions.

Company Insights

• Shimano, Inc.
• Accell Group N.V.
• Campagnolo S.R.L.
• Garmin Ltd.
• Giant Manufacturing Co., Ltd
• Merida Industry Co. Ltd
• Samchuly Bicycle Co.
• FALKE KGaA
• Endura Ltd
• DT Swiss AG
• Rental Limited
• Head N.V.
• New Balance Athletics Inc.
• 2XU
• Others

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