ASIA PACIFIC CYCLING WEAR MARKET ANALYSIS

Market Challenges And Opportunities

Drivers

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.

Market Restraints

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.