Bike apparel market grew to $5 billion in 2019

Consumers who are increasingly adopting cycling as a part of their routine lifestyle, and therefore seeking appropriate clothing, have been propelling the growth of bicycle apparel market, according to Persistence Market Research.

Sales grew to $5 billion at the end of 2019 and will progress further at 5% CAGR through 2029, the report, which covers 2018 to 2029, has said.

An increasing number of cycling certification programmes and rise in the number of cycling clubs and associations fuel the interest and participation in professional cycling activities and events. This, in turn, accounts for increasing sales of bicycle apparels.

Hong Kong experienced a significant rise in interest for cycling among consumers, growing from 39% in 2013 to 48% in 2018. In Japan, this growth was 7% from 2013 to 2018.

The increasing adoption of bicycle apparels as an emerging fashion trend among millennials in East Asia will boost sales of bicycle apparels in this region. Tops (jerseys, jackets, t-shirts, and body warmers) are identified as a key contributor to the global bike apparels market growth, attributable to increasing design innovation in jackets and jerseys, and improvement in the quality of t-shirt materials.

The offline distribution channel is expected to hold a significant share in the global bicycle apparels market as customers prefer to test apparel quality before purchase. However, the online distribution channel is expected to register growth during the forecast period, due to increasing adoption of omnichannel retail strategy by retailers and manufacturers.

The concept of urban cycling is becoming popular worldwide due to increasing concern regarding pollution and emphasis on reducing the carbon footprint. Moreover, increasing Government spending on bicycle-friendly cities and campaigns creating awareness of health benefits associated with cycling are encouraging people to purchase bikes and apparel.

The global bicycle apparels market is moderately consolidated, owing to the presence of a limited number of top service providers of bicycle apparels across the globe. Leading players in the global bicycle apparel market primarily focus on product innovation pertaining to design and addition of features.