by Market Overview:
Cycling wear products include clothing designed specifically for cycling activities. Cycling wear offers benefits such as light weight, breathability, moisture wicking, and flexibility which enhances comfort and performance during cycling.
Market key trends:
One of the key trends in the Asia Pacific cycling wear market is the increasing demand for high-performance and comfortable cycling wear products. Manufacturers are focusing on developing technically advanced fabrics that wick away moisture, regulate temperature, and offer an aerodynamic fit. They are incorporating features such as zippered pockets, reflective detailing, and UV protection to cater to consumer needs. The rising health consciousness and growing popularity of cycling as a fitness activity are also driving the adoption of premium and high-quality cycling wear in Asia Pacific countries.
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Market Key Trends:
The Asia Pacific cycling wear market has been witnessing high growth due to increasing popularity of cycling as a fitness and recreational activity in the region. Various governments in Asia Pacific countries have been investing heavily in developing cycling infrastructure such as dedicated bike lanes, trails, and parks, in order to promote cycling as a mode of transportation as well as leisure activity. This has increased accessibility and encouraged more people to take up cycling. Furthermore, growing health and fitness awareness among consumers has also boosted the demand for high-quality and technologically advanced cycling apparel and accessories in the region.
SWOT Analysis:
Strength: The Asia Pacific region has emerging economies with growing disposable incomes and health consciousness, presenting a lucrative customer base for cycling wear brands.
Weakness: Market presence of several unorganized local players offering low-cost alternatives.
Opportunity: Growing promotion of cycling as a sport and lifestyle by various governments and cycling associations offers scope for market expansion.
Threats: Intense competition among existing key players and threat from substitutes such as running/jogging wear limiting market growth.
Key Takeaways:
The Asia Pacific Cycling Wear Market Demand is expected to witness high growth, exhibiting CAGR of 9.0% over the forecast period, due to increasing health consciousness and popularity of outdoor recreational activities.
Regional analysis:
The Asia Pacific cycling wear market is dominated by China, followed by Japan, Australia, and India. China accounted for over 35% of the market share in 2023 due to large population and growing cycling culture in the country. The government is investing heavily in infrastructure to promote cycling as a mode of transport.
Key players:
Key players operating in the Asia Pacific Cycling Wear Market include 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.
Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
