Cycling wear includes cycling wear apparel and accessories. Cycling clothing is worn to fit and support the body while cycling. These are stretchable and provides extra comfort to the wearer. Cycling wear apparel includes products such as shorts, jackets, leggings, gloves, jerseys, and others.
The Asia Pacific cycling wear market is expected to surpass US$ 1,388.6 million by the end of 2028, in terms of revenue, exhibiting a CAGR of 9.0% during the forecast period (2021 to 2028).
The growth of the Asia pacific cycling wear market is driven by the rising preference for riding bicycles owing to rising health and fitness consciousness among consumers. The increasing prevalence of chronic diseases such as high blood pressure, diabetes, and obesity due to changing lifestyle patterns and unhealthy eating habits is likely to increase cycling practice. As advised by the doctors and health trainers to maintain good health and be fit, cycling plays an important role which helps in boosting the market growth.
An increase in the number of cycling events organized across the globe and the growing popularity of sports events are likely to create lucrative opportunities for the players operating in the cycling wear market during the forecast period.
Among countries, China held dominant position in the Asia Pacific cycling wear market in 2020, accounting for 28.6% market share, in terms of revenue, followed by India and South Korea. Being the largest and fastest growing cycling wear market in the Asia Pacific region, the rapid growth of bike sharing and measures to build bicycle infrastructure are attributed to China. Growing pollution and self-awareness about one’s health in the country is also promoting the adoption of cycling in China. Furthermore, cycling as a recreational and leisure activity is also gaining popularity in the region. Participation in various cycling races such as Gree, World Cycling Tour of Guangxi and cycling tourism are fuelling growth of the cycling wear market.
Figure 1. Asia Pacific Cycling Wear Market Revenue Share (%), By Country, 2020
The increasing number of cyclist deaths has induced a sense of reluctance for cycling among people which is likely to hamper the growth of cycling wear market. Although a higher percentage of population prefers cycling, road accident factor is likely to reduce the count in the near future, which can impede the use of cycling apparel. According to Governor’s Highway Safety Association (GHSA), deaths among cyclists due to road accidents is increasing by 12.2 percent per year. This coupled with automobile development is likely to create challenges for cycling activities, in turn hindering the adoption of cycling apparel.
Asia Pacific Cycling Wear Market Report Coverage
|Base Year:||2020||Market Size in 2021:||US$ 1,388.6 Mn|
|Historical Data for:||2017, 2018, and 2019||Forecast Period:||2021 to 2028|
|Forecast Period 2021 to 2028 CAGR:||9.0%||2028 Value Projection:||US$ 2,585.1 Mn|
JRD Cycling, Castelli Cycling, Giro Sport Design, Champion System, Conquest Cycle Wear Ltd., 2XU Pty. Ltd., Endura Limited, Isadore Apparel, Rapha Racing Limited, Attaquer Pty Ltd., Lumiere Cycling, Panache Cyclewear Co., Cadence Collection, Voler Inc., and Ornot
|Restraints & Challenges:||
Initiatives by leading manufacturers and governments to encourage cycling sport is mainly driving the cycling wear market growth. Governments in various cities are focusing on initiatives to carve out cycling routes for cyclists, which is a significant factor for increasing the adoption of cycling. For instance, in 2017, the Government of India built cycling tracks in 10 cities in the region along the arterial roads to promote cycling as a mode of intra-city transport. Various governments are taking initiatives to encourage people, for opting cycling to focus on reducing the carbon footprint in the country.
Figure 2. Asia Pacific Cycling Wear Market Revenue Share (%), By Product Type, 2020
On the basis of product type, in 2020, the clothing segment held the largest revenue share of 39.0% in the Asia Pacific cycling wear market. The segment is expected to reach US$ 971.8 million by 2028. Clothing segment of cycling wear includes leggings, shorts, gloves, jackets, jerseys, and arm/leg warmers. Clothing should provide comfort, durability, moisture resistance, and should be waterproof, windproof, and stretchable. Cycling apparels are designed to fit and support the body during cycling.
Asia Pacific Cycling Wear Market - Impact of Coronavirus (Covid-19) Pandemic
The COVID-19 impact across industries vary. The outbreak has flipped the growth switch in every sector of the economy. However, the outbreak of coronavirus pandemic in 2020 is expected to restrain the market growth for a couple of years, owing to decrease in regional and international cycling competitions. The increasing spread of COVID-19 has also mandated the cycling wear manufacturers to deploy precautionary measures in their facilities including laborers and plant controllers screening, monitoring, and sanitizing the facilities. This has further increased the operational costs of manufacturing plants, which has indirectly increased the prices of high value-added cycling wear. However, unlocking and reopening of industries coupled with shifting focus on production and sustainable development are expected to boost the growth of the consumer goods sector over the post-pandemic period.
Key players operating in the Asia Pacific cycling wear market include JRD Cycling, Castelli Cycling, Giro Sport Design, Champion System, Conquest Cycle Wear Ltd., 2XU Pty. Ltd., Endura Limited, Isadore Apparel, Rapha Racing Limited, Attaquer Pty Ltd., Lumiere Cycling, Panache Cyclewear Co., Cadence Collection, Voler Inc., and Ornot.
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