by The Asia Pacific Cycling Wear Market is estimated to be valued at US$ 1,388.6 Mn in 2022 and is expected to exhibit a CAGR of 9% over the forecast period from 2021 to 2028, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Cycling wear includes products worn by cyclists such as helmets, jerseys, bib shorts, jackets, tights, gloves, and gilets. Cycling wear provides protection from environmental conditions such as wind, rain, and sun exposure. It also plays a crucial role in maximizing comfort, safety, and performance during cycling. Rising health consciousness and increasing participation in cycling activities are the major factors driving the growth of the Asia Pacific cycling wear market. Commonly used cycling wear helps increase breathability, manage moisture, offer padding and cushioning to reduce impact, and improve visibility on roads.
Market Dynamics:
One of the key drivers for the Asia Pacific cycling wear market is the increasing participation in cycling as a healthy recreational and fitness activity in the region. According to the American Council on Exercise, an adult who cycles 15 miles (25 km) per week can shed 30 pounds (13 kg) in a year. Furthermore, regular cycling boosts cardiovascular health, lowers blood pressure, and reduces the risk of heart diseases. As more individuals are focusing on preventive healthcare and lifestyle changes, cycling has gained popularity as a fitness activity. Additionally, the Asia Pacific region is witnessing rising penetration of cycling clubs and organized tours that promote cycling as a sport, driving the demand for specialized cycling wear such as jerseys and shoes. A notable opportunity for the market is the shifting consumer preference towards customizable and performance-driven cycling wear. Many leading brands are offering
Segment Analysis
The Asia Pacific cycling wear market is segmented into clothing, footwear and others. Among these, the clothing segment dominates the market with more than 50% share owing to higher demand for cycling jerseys, jackets, pants, caps, gloves and other apparels used while cycling. The clothing protects cyclists from extreme weather conditions while cycling and provides sweat-wicking ability.
PEST Analysis
Political: The supportive government policies and initiatives promoting cycling as a mode of transportation and fitness activities have facilitated the market growth.
Economic: The rising disposable income and spending capacity of consumers in Asia Pacific countries have increased inclination towards recreational cycling, augmenting the demand for premium cycling wear.
Technological: Technological advancements in fabrics including high-performance attributes such as moisture-wicking, breathability, antimicrobial, UV protection etc. have enhanced functionalities of cycling wear.
Key Takeaways
The Asia Pacific cycling wear market size was valued at US$ 1,388.6 Mn in 2022 and is expected to reach US$ 2,445.1 Mn by 2028, expanding at a CAGR of 9% during the forecast period. The market is growing due to increasing participation in cycling activities for fitness, recreational and competitive purposes.
Regional analysis: Among regions, East Asia dominates the Asia Pacific market and is expected to maintain its supremacy over the forecast period. China is the largest producer and consumer of cycling wear in the region. The rising health consciousness and growing preference for cycling as a hobby are driving the market.
Key players: Key players operating in the Asia Pacific cycling wear market are 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. The established market players are focusing on new product launches and expanding their footprint in emerging countries to strengthen their market position.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
