CYCLING WEAR MARKET ANALYSIS

Cycling Wear Market Size and Trends

The global cycling wear market is estimated to be valued at USD 7.78 Bn in 2024 and is expected to reach USD 11.22 Bn by 2031, growing at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.

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The global cycling wear market is expected to witness positive growth over the forecast period. Growing health consciousness and increasing popularity of cycling as a fitness activity are some of the key factors driving the demand for advanced cycling wears such as jerseys, gloves, shoes, and shorts. Moreover, rising consumer preference for comfortable and moisture-wicking fabrics is further boosting the sales of high-performance cycling wear. Leading brands are substantially investing in the research & development of technologically advanced products with improved breathability, grip, and protection. Such innovations are gaining widespread acceptance among serious and casual cyclists alike. However, availability of low-cost counterfeit products may hinder the revenue growth of established brands to some extent over the next few years.

Health and Fitness

The health and fitness trends are driving significant growth in the global cycling wear market. As people become more concerned about their overall well-being and leading an active lifestyle, cycling has seen a tremendous increase in popularity as a fitness activity and leisure sport. The awareness around health benefits of regular cycling such as lowering the risk of heart diseases, reducing stress levels, managing weight and improving muscular strength has encouraged more individuals to take up cycling.  According to the 2020 Public Health England report on the relationship between physical activity and health, regular cycling can reduce the risk of early death by up to 40%. Additionally, a 2020 study published in the British Journal of Sports Medicine found that cycling to work was associated with 24% lower risk of cancer and 45% lower risk of cardiovascular diseases compared to non-active commuters. Such evidential support has been highly influential in driving positive attitude towards cycling. More people have been seen commuting to work, running daily errands and opting for weekend recreational rides with family and friends which has spurred the demand for versatile and high-performance cycling related clothing and accessories. Furthermore, the trend of indoor cycling workouts using indoor bikes or cycling apps has given a major boost to the market. With lockdowns and gym closures during the pandemic, indoor cycling emerged as one of the most popular forms of home workouts. According to a 2021 survey conducted by Euro monitor, over 50% of regular gym goers took up indoor cycling for cardio and strength training during restrictions on outdoor activities highlighting its benefits of low-impact, full body workout. As a result, apparel designed specifically for spin classes and other indoor cycling activities with features like moisture-wicking, UV protection and breathability are in high demand.

There is a growing concern about environmental degradation and climate change issues globally. People are looking for sustainable options to commute as well as for leisure activities. Cycling is one such environment-friendly mode of transport that does not cause pollution. Many cities are promoting non-motorized and public transport by developing separate cycling tracks and lanes. Citizens are encouraged to use bicycles for short-distance daily commutes to reduce vehicular traffic and carbon footprint. E-bikes are also gaining popularity as they allow traveling slightly longer distances while expending less physical effort. Various social initiatives promote cycling as a green lifestyle choice. Cycling events and clubs bring people together for recreational cycling while campaigns spread awareness about benefits of cycling. More users are opting for cycling gears made from recycled and sustainable materials. The younger generation, in particular, is quite passionate about adopting green habits including cycling. With climate change at the forefront, the eco-friendly image of cycling continues to inspire its growth worldwide.