May 18, 2024
Asia Pacific Cycling Wear Market

Asia Pacific Cycling Wear Market Estimated to Witness High Growth Owing to Rising Health Consciousness

The Asia Pacific cycling wear market features a variety of clothing and accessories that are specially designed for cycling activities. Cycling wear including cycling shorts, cycling jackets, cycling jerseys, cycling glasses, cycling shoes are essential for comfort, safety, and performance during cycling. The rising demand for regular exercise and outdoor recreational activities has boosted the adoption of cycling as a fitness routine and hobby. Cycling wear offers benefits such as moisture-wicking fabrics that keep the cyclist dry, breathable materials, storage pockets, reflective accents for visibility during dusk and dawn rides, padding in specific areas for comfort over long distances.

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 from 2024 to 2031.

Key Takeaways

Key players operating in the Asia Pacific cycling wear are ByteDance (TikTok, Douyin), Kuaishou, Bilibili, Tencent (WeChat, Tencent Video), Alibaba (Taobao, Weibo). These companies are investing heavily in the development of advanced fabrics and functional clothing focused on performance, comfort, and style.

The rising popularity of recreational cycling and growing health awareness has opened diverse opportunities for market players in the Asia Pacific region. Countries like China, India, Japan, Australia, and South Korea are witnessing significant demand for premium and fashionable cycling gear.

Globally, the cycling wear market is expanding rapidly due to increasing bicycle sales, growing preference for environment-friendly modes of transport, and promotion of cycling as a sport. Manufacturers are focusing on the Asia Pacific market considering its huge population base and rapid urbanization in many countries.

Market drivers

The main driver for the Asia Pacific cycling wear market is the rising health consciousness among consumers. Regular cycling is becoming popular for fitness, weight management and reducing stress. This is encouraging more people to invest in high-quality cycling wear including breathable shorts, padded gloves and protective helmets. Moreover, cycling communities and outdoor recreational activities are promoting cycling as an exciting sport and hobby. The booming domestic bicycle sales in Asia Pacific countries is another key factor stimulating the demand for advanced cycling apparel and gear accessories.

PEST Analysis

Political: The key political factors affecting the market include supportive government policies and spending on cycling infrastructure development. Many governments in Asia Pacific are promoting cycling as a part of their environmental protection and public health initiatives.

Economic: Strong economic growth and rising disposable incomes in Asia Pacific countries are driving demand for premium cycling wear. Increased cycling tourism is also fueling market revenues.

Social: Growing health consciousness and interest in outdoor recreational activities are increasing the popularity of cycling as a sport and hobby. Cycling is viewed as a sustainable commuting option in urban areas.

Technological: Advancements in fabric and material technologies are enabling manufacturers to develop lightweight, breathable, moisture-wicking and anti-microbial cycling apparel. Wearable fitness technologies integrated into cycling gear are enhancing user experience.

Geographical regions with high market concentration

The Asia Pacific Cycling Wear Market Demand is highly concentrated in large economies with a strong cycling culture and infrastructure such as Japan, China, Australia and New Zealand in terms of value sales. These countries collectively account for over 60% of the regional market value.

Fastest growing region

Southeast Asian countries like Thailand, Indonesia, Malaysia and Vietnam are identified as the fastest growing sub-regions for the Asia Pacific cycling wear market. Thriving tourism industries, investments in cycling infrastructure and growing popularity among youth are fueling double-digit growth rates in cycling gear consumption in these nations.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it