Asia Pacific Cycling Wear Market is Anticipated to Witness High Growth
Asia Pacific Cycling Wear Market is Anticipated to Witness High Growth
The Global Asia Pacific cycling wear market is estimated to be valued at US$ 1900.57 Bn in 2024 and is expected to exhibit a CAGR of 30% over the forecast period 2024 to 2031.

The Asia Pacific cycling wear market comprises various products including jerseys, jackets, t-shirts, shorts, pants, tights, gloves, caps, socks and shoes that are worn by cyclists. Cycling wear offers numerous benefits such as enhanced breathability, moisture wicking, UV protection and comfortable fitting; thereby providing maximum comfort and safety to cyclists. With the increasing health and fitness trends as well as growing concerns about environmental pollution from vehicles, the number of cyclists has risen considerably in the Asia Pacific region in recent years.

Key Takeaways

Key players operating in the Asia Pacific cycling wear are ByteDance (TikTok, Douyin), Kuaishou, Bilibili, Tencent (WeChat, Tencent Video), Alibaba (Taobao, Weibo), Meta (Facebook,Instagram), YouTube, Twitch, OnlyFans, Patreon, Substack, Kickstarter, Indiegogo, Disco, Cameo. These players are focusing on introducing innovative products with advanced features and establishing their online and offline presence across major countries to cater to the growing demand.

The Asia Pacific region provides massive opportunities for expansion and product promotion owing to rising health consciousness, favorable government policies to promote cycling, and growing cycling infrastructure and events in countries like China, India, Japan and Australia. Leading companies are investing heavily in the region through partnerships, sponsorships, celebrity endorsements and joint ventures to strengthen their foothold.

In order to capture the untapped growth potential, companies are focusing on new product launches, mergers and acquisitions, partnerships and global expansion. Additionally, investments in advanced technology, expansion of manufacturing facilities and developing private labels are some of the key strategies being adopted by cycling wear brands for achieving dominant presence.

Market Drivers

One of the key drivers propelling the Asia Pacific cycling wear market growth is the growing popularity of cycling as a fitness and recreational activity. With increasing disposable incomes and health awareness, more people are taking up cycling on a regular basis. This is significantly driving the demand for high-performance and comfortable cycling apparel.

Market Restrains

Availability of low-cost counterfeit products is a major challenge being faced by established brands. Proliferation of fake and low-quality replicas available at cheaper costs online and in local markets can hamper the sales of legitimate manufacturers. Strict regulations and enforcement actions are required to tackle the issue of spurious cycling wear.

Segment Analysis

The Asia Pacific Cycling Wear Market Size is dominated by the road cycling segment. Road cycling gear including jerseys, bib shorts, jackets, etc accounts for more than 60% of the total market share. This is because road cycling is the most popular cycling sport in the region with countries like China, Japan and Australia having very active cycling communities and cycling clubs. The efficient wicking and breathable properties of modern cycling fabrics make road cycling gear very comfortable for long distance riding on roads.

Global Analysis

 

Regionally, East Asia accounts for the largest share in the Asia Pacific cycling wear market currently. Countries like China and Japan have seen cycling emerge as one of the most popular recreational and sporting activities in recent years. This is owing to growing health consciousness and income levels in these countries. The availability of high-end bicycles and cycling gear has also supported market growth. Southeast Asia is projected to be the fastest growing region during the forecast period due to rising participation in cycling from Thailand, Vietnam, Indonesia and other developing nations in the region seeking affordable outdoor activities.

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