The global cycling wear products market was valued at USD 2.6 billion in 2022 and is projected to reach USD 3.6 billion by 2030, expanding at a CAGR of 3.9% during the forecast period. The growing adoption of cycling as a physical activity and the increasing popularity of cycling events and races are the major factors propelling the growth of the market. Furthermore, the rising awareness regarding health benefits of cycling is driving the demand for cycling wear products.

The increasing number of cyclists and rising demand for technologically-advanced cycling wear products is driving the market growth. For instance, in October 2021, Rapha launched a new range of aerodynamic cycling wear, which is designed to reduce drag and improve performance. The new collection includes a range of tight-fitting cycling jerseys, shorts, and socks that help cyclists move faster and more efficiently.

The market is witnessing increased demand for sustainable cycling wear products. Companies are focusing on developing eco-friendly cycling wear by using sustainable and recyclable materials. For instance, in June 2021, Pearl Izumi launched two new cycling wear collections made from recycled materials. The company also announced that it will use recycled materials in all its products by 2023.

Furthermore, the increasing demand for personalized cycling wear products is driving the market growth. Companies are introducing 3D body scanning technology to provide customers with custom-made cycling wear products. For instance, in August 2021, Castelli launched a new range of custom-made cycling wear products using 3D body scanning technology. This technology helps the company to provide customers with cycling wear products that are tailored to their individual body shapes.

The rising trend of fashion-oriented cycling wear products is further driving the market growth. Companies are using innovative designs and fabrics to create cycling wear with a contemporary look and feel. For instance, in January 2021, Pactimo launched a new range of cycling wear products designed to provide cyclists with a modern, fashion-forward look. The new collection includes cycling shorts, jerseys, and jackets with bold and vibrant color combinations.

The cycling apparel segment dominates the market and accounted for a share of 41.7% in 2022. The increasing popularity of cycling as a form of exercise and leisure activity is driving the demand for cycling apparel. According to an article published by Bicycle Retailer, in April 2020, cycling is gaining attention as a form of exercise, recreation, and transportation. Furthermore, the increasing demand for comfortable and stylish cycling wear is also driving the market growth. In addition, the increasing demand for lightweight cycling wear as it allows athletes to perform better is another factor driving the market growth.

The cycling accessories segment is expected to expand at the fastest CAGR of 7.2% over the forecast period. Increasing awareness about the importance of protecting the head during cycling is driving the demand for cycling helmets. According to an article published by the Centers for Disease Control and Prevention, in July 2020, bicycle helmets reduce the risk of head and brain injuries by as much as 88%. In addition, the emergence of various cycling accessories such as gloves, eyewear, and hydration packs is also driving the market growth.

The specialty stores segment captured the major share of over 34.2% in 2022. The growth of the segment is mainly driven by the increasing preference of consumers to visit specialty stores to get the desired products. Specialty stores are usually well-equipped with a wide range of cycling wear products and provide a great deal of knowledge to the consumers. Furthermore, they also provide trial services, which allow the consumers to try out the product to check the comfort and fit before making the purchase.

The online segment is anticipated to expand at the highest CAGR of 13.7% over the forecast period. The rising penetration of internet and mobile services, increasing mobile commerce, and the availability of a vast range of cycling wear products are anticipated to drive the segment growth. Moreover, the growing convenience offered by online sales channels is further expected to fuel the segment growth during the forecast period. Online stores offer extensive product selection, along with convenient payment options and home delivery, which is likely to drive the segment growth. Furthermore, the availability of discounts and promotional offers provided by online stores is expected to fuel the segment growth during the forecast period.

The road cycling segment accounted for the largest revenue share of the global cycling wear market in 2020. The growing number of cyclists is a major factor driving the growth of the market. According to the National Institute of Health (NIH) U.S., the number of cyclists in the U.S. has increased from 46 million in 2014 to 51 million in 2018. The rising trend of weekend rides and long rides is also increasing the demand for cycling wear among cyclists. Moreover, increasing awareness about the benefits of cycling for physical and mental health has resulted in an increased number of cyclists, which is likely to drive the demand for cycling wear.

The mountain biking segment is expected to expand at the highest CAGR of 8.2% during the forecast period. The growing popularity of mountain biking and the rising trend of mountain biking races and events have resulted in an increased demand for mountain biking wear. Furthermore, the rising trend of outdoor activities among youth and the increasing purchasing power of consumers are also contributing to the growth of the segment.

Europe is expected to remain the largest regional market for cycling wear during the forecast period. This can be attributed to the presence of a well-developed sports apparel market in the region and the growing popularity of cycling as a sport and leisure activity. Furthermore, the increasing number of cycling clubs, as well as increasing availability of cycling apparel from a number of prominent manufacturers, is likely to drive the market in Europe. For instance, in February 2022, Rapha, an apparel company based in the U.K., announced that it had launched a new range of cycling apparel.

The Asia Pacific is expected to be the fastest-growing market for cycling wear during the forecast period. Growing demand for cycling apparel due to the increasing popularity of cycling as a sport and leisure activity, as well as increasing disposable income levels among consumers in the region, are expected to drive the market in the Asia Pacific. Furthermore, the presence of a large number of prominent manufacturers, such as Specialized and Shimano, is likely to propel the growth of the market in the region.

In this part of the cycling wear business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your cycling wear products business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenues for a cycling wear products business comes from sales of apparel, cycling accessories, protective gear and other related items. Here you will find a list with a description of each of these items and other possible sources of profit such as sales of gift cards and special promotions.

Projecting Expenses
In this section, all the regular expenses related to keeping the cycling wear products business running will be described. The list of operating expenses includes rent, wages, inventory, marketing and advertising, utilities, insurance policies, and others. Additionally, the cost of the cycling wear products must be taken into consideration when determining the cost of goods sold.

Some of the key companies operating in the cycling wear market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In August 2022, Rapha launched a new range of cycling clothing designed for hot weather conditions.

– In August 2022, Pearl Izumi launched a new range of cycling clothing with enhanced aerodynamic design.

– In September 2022, Asics launched a new range of cycling clothing for high performance athletes.

Some of the prominent players in the cycling wear market include:

– Rapha
– Pearl Izumi
– Asics
– Nike Inc.
– Castelli
– Endura
– Craft Sportswear
– Sugoi
– Santini Cycling Wear
– Louis Garneau Sports

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global cycling wear products market based on product, distribution channel, type, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Cycling Jerseys
– Cycling Shorts
– Cycling Gloves
– Cycling Jackets
– Cycling Shoes & Socks
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Specialty Stores
– Others

3. Type Outlook (Revenue, USD Million, 2017 – 2030)

– Mass
– Premium

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What are the factors driving growth in the cycling wear market?
[A]: The growing popularity of cycling as a leisure activity, the increasing demand for performance cycling clothing, and the introduction of stylish cycling apparel are some of the major factors driving growth in the global cycling wear market. Additionally, the rise in the number of cycling events, the growing popularity of cycling among millennials, and the increasing trend of online shopping are other factors driving the market.

[Q]: Who are the key players in the cycling wear market?
[A]: The key players in the global cycling wear market include Specialized Bicycle Components, Inc., Pearl Izumi USA, Inc., Assos of Switzerland SA, Castelli Cycling S.R.L., Louis Garneau Sports, Endura Ltd., and Sportful.

[Q]: What types of cycling wear are available?
[A]: Cycling wear typically includes shorts and tights, jerseys, jackets and vests, base layers, and gloves.

[Q]: What is the regional outlook for the cycling wear market?
[A]: The cycling wear market is expected to grow significantly in Europe and North America due to the increasing popularity of cycling as a leisure activity and the presence of a significant number of cycling events in these regions. In Asia Pacific, the market is expected to grow due to the increasing demand for performance cycling clothing and the growing popularity of online shopping.

[Q]: What is the market size of the cycling wear market?
[A]: The global cycling wear market was valued at USD 5.32 billion in 2020 and is expected to reach USD 9.62 billion by 2027, at a CAGR of 8.3% during the forecast period from 2021 to 2027.