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The expansion of the socks market, characterized by an increasing number of brands and the proliferation of retail outlets, can be attributed to several influential factors. A primary driver is the growing demand for socks as an indispensable element of basic clothing. Beyond the fundamental purpose of keeping feet warm and dry, socks have evolved into essential fashion accessories that can either complement or elevate an outfit. A significant contributor to the market's growth is the rising popularity of sports and athletic activities. This trend has prompted numerous socks brands to develop specialized products tailored for various sports and activities such as running, cycling, and hiking. These specialized socks aim to provide additional support, cushioning, and moisture-wicking properties, enhancing overall athletic performance. Moreover, advancements in technology and materials have empowered socks brands to create products that are not only more comfortable and durable but also stylish. The contemporary sock market offers a diverse array of fabrics, colors, patterns, and designs, catering to individuals of all ages and style preferences. The advent of e-commerce and online shopping has played a pivotal role in facilitating easier access for consumers to a broad spectrum of sock brands and retailers. This has intensified competition within the socks market, fostering innovation in both product design and marketing strategies. A notable catalyst for market dynamism is the introduction of appealing patterns and prints. In recent years, the launch of socks featuring attractive designs has significantly influenced consumer choices. Consumers, now more than ever, seek socks that not only offer comfort and durability but also make a fashion statement. Manufacturers have responded to this demand by creating products adorned with eye-catching designs. These designs range from bold stripes and polka dots to intricate patterns like paisley and geometric shapes. Some manufacturers have even collaborated with fashion designers or celebrities to produce limited-edition collections, featuring unique and highly coveted designs. The surge in the popularity of patterned and printed socks is further amplified by the influence of social media. Influencers and fashion bloggers regularly showcase their preferred sock designs on various social media platforms, thereby increasing the visibility and demand for these aesthetically pleasing products. This intersection of fashion and social media has contributed to the socks market's vibrancy, shaping consumer preferences and driving the industry towards innovation and creative expression.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Opportunities | Government Initiatives to Promote Cycling The Influence of Social Media and Innovative Marketing Strategies. |
| Market Dynamics | Participation in Outdoor Activities, Strict Government Regulations. |
Bicycle Apparels & Accessories Market Highlights:
Global Bicycle Apparels & Accessories Market Overview
Bicycle Apparels & Accessories Market Size was valued at USD 7.1 Billion in 2023. The bicycle apparels & accessories market industry is projected to grow from USD 7.45855 Billion in 2024 to USD 10.5 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.37% during the forecast period (2024 - 2032). Increased prevalence of health-related disorders such as high blood pressure, diabetes, and obesity among young and middle-aged people, as well as increased consumer awareness of health and fitness are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Bicycle Apparels & Accessories Market Trends
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Increasing government rules are driving market growth
Bicycle gear and accessories help to increase riding safety. Bicyclists in several countries are required to wear personal protective equipment, such as helmets and protective clothing. Many countries have distinct safety regulations, such as the EN1078 standard in Europe. The implementation of safety laws and regulations pertaining to helmets, jackets, and other protective clothing by authorities is expected to drive the market CAGR for bicycle apparel and accessories. Several countries have also witnessed an increase in outdoor activity participation. As a result, increased outdoor exercise levels, as well as rising public awareness of the favourable effects these activities have on children's health, have propelled the market for cycling clothes and accessories in recent years.
Furthermore, the Children's Society claims that spending time outside and engaging in physical activity enhances a child's short- and long-term well-being for a variety of reasons, including improved physical and mental health. Thus, rising participation in outdoor activities and growing awareness of the health benefits of these activities are expected to drive the bicycle apparels and accessories market throughout the forecast period.
Additionally, cycling is a popular sport because it keeps individuals healthy and strong while lowering their risk of developing a variety of life-threatening diseases such as diabetes, heart disease, cancer, obesity, and stroke. Cycling can help with the therapy of many fractures and injuries since it improves balance and strength. Cycling is a muscular activity because paddling engages all of the muscles in the body and helps to increase stamina.
Bicycle Apparels & Accessories Market Segment Insights
Bicycle Apparels & Accessories Type Insights
The bicycle apparels & accessories market segmentation, based on type includes helmets, jerseys & tees, pants & shorts, shoes, goggles & glasses, protection gears, socks and others. The jerseys and tees segment holds the largest share of the market and is expected to increase at a GAG of 5.38% during the forecast period. Professional cyclists frequently wear jerseys and shirts. The most widely used fabrics for jerseys and tees are synthetic and merino wool. Bamboo jerseys produced from bamboo extracts that are occasionally blended with cotton, Lycra, and merino wool have been introduced as a result of technological progress. It is a good option for persons who have delicate skin or are allergic to wool.
Bicycle Apparels & Accessories Category Insights
The bicycle apparels & accessories market segmentation, based on category, includes mountain bikes, road bikes, city bikes and others. The road bikes segment accounted for the highest revenue share of 40.10% in 2022 and is predicted to stay dominant throughout the projection period. The increased popularity of basic bicycles can be attributed to the fact that they are easier to modify than other types of bicycles such as racing, mountain, or specialised ones. Furthermore, the growing trend of individuals customising road bikes for specific purposes is expected to drive market growth in the coming years. During the projected period, cargo bikes are expected to increase at the fastest rate.
Bicycle Apparels & Accessories Distribution Channel Insights
The bicycle apparels & accessories market segmentation, based on distribution channel include store based (supermarkets & hypermarkets, specialty stores and others) and non-store based. The store-based segment is the largest contributor to the market and is predicted to grow at a CAR of 5.05% over the forecast period. Supermarkets and hypermarkets, speciality stores, and others make up the store-based component. The supermarkets and hypermarkets sub-segment is predicted to be the largest, as these channels account for the majority of bicycle apparel and accessories sales. Furthermore, speciality stores play an important part in the distribution of bicycle clothes and accessories.
Figure1: Bicycle Apparels & Accessories Market, by Distribution Channel, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Bicycle Apparels & Accessories Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American bicycle apparels & accessories market area will dominate this market, because of technical improvements such as the incorporation of airbags and LEDs in helmets. Furthermore, important manufacturers prioritise promotional operations to raise customer knowledge of new products, increasing the growth of the North American market.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2: BICYCLE APPARELS & ACCESSORIES MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe’s bicycle apparels & accessories market accounts for the second-largest market share due to the region's high per capita disposable income, consumers are eager to purchase expensive high-quality cycling clothes and accessories. Further, the German bicycle apparels & accessories market held the largest market share, and the UK bicycle apparels & accessories market was the fastest-growing market in the European region
The Asia-Pacific Bicycle Apparels & Accessories Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due of the region's consumers' preference for high-quality cycling attire and safety gear. Moreover, China’s bicycle apparels & accessories market held the largest market share, and the Indian bicycle apparels & accessories market was the fastest-growing market in the Asia-Pacific region.
Bicycle Apparels & Accessories Key Market Players& Competitive Insights
Leading market players are investing heavily in R&D to expand their product lines, which will help the bicycle apparels & accessories market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, bicycle apparels & accessories industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the bicycle apparels & accessories industry to benefit clients and increase the market sector. In recent years, the bicycle apparels & accessories industry has offered some of the most significant advantages to medicine. Major players in the bicycle apparels & accessories market, including Rapha Racing Limited (UK), POC Sports (Sweden), Fox Head Inc (US), 100% Speedlab, LLC (US), PEARL iZUMi (US), Manifattura Valcismon S.PA. (Italy). and others, are attempting to increase market demand by investing in R&D operations.
Adidas AG is a German athletic apparel and footwear company based in Herzogenaurach, Bavaria. It is Europe's largest sportswear producer and, after Nike, the world's second largest. It is the parent company of the Adidas Group, which owns 8.33% of the football club Bayern München, as well as Runtastic, an Austrian fitness technology firm. Adidas reported €21.915 billion in revenue in 2018. Adolf Dassler founded the company in his mother's house in 1924, and he was joined by his elder brother Rudolf under the name Gebrüder Dassler Schuhfabrik ("Dassler Brothers Shoe Factory"). In January 2019, Adidas released the first mobile reservation app in the footwear business. Using geotargeting technology, the Adidas Confirmed app allows consumers to gain access to and reserve the brand's limited-edition footwear.
Trek Bicycle Corporation manufactures and distributes bicycles and cycling products under the brand names Trek, Electra Bicycle Company, Bontrager, and Diamant Bikes. Previously, the company produced bikes under the Gary Fisher, LeMond Racing Cycles, Klein, and Villiger Bikes brand names. Trek bicycles are marketed through 1,700 individually owned bicycle stores across North America, subsidiaries in Europe, Asia, and South Africa, as well as distributors in 90 countries worldwide. The majority of Trek bicycles are made in nations other than the United States, including the Netherlands, Germany, Taiwan, and China. In November 2021, Trek has announced the availability of its professional level Madone.
Key Companies in the bicycle apparels & accessories market include
- Adidas AG (Germany)
- Giant Bicycles Inc (Taiwan)
- Specialized Bicycle Components, Inc. (US)
- Trek Bicycle Corporation (US)
- ASSOS of Switzerland GmbH (Switzerland)
- Rapha Racing Limited (UK)
- POC Sports (Sweden)
- Fox Head Inc (US)
- 100% Speedlab, LLC (US)
- PEARL iZUMi (US)
- Manifattura Valcismon S.PA. (Italy)
- Black Sheep Cycling (Australia)
- Velocio. (US)
- Pas Normal Studios (Denmark)
- Vaude (Germany)
Bicycle Apparels & Accessories Industry Developments
In December 2022 The Surge Pro, Giant Bicycles' premier road shoe, has been named "gear of the year" by both BikeRadar and BikeRumor.com. The Surge Pro is Giant's lightest, most efficient road shoe, as tested and confirmed by WorldTour cyclists including grand tour champion Simon Yates.
In January 2023 POC, a Swedish cycling apparel and accessories manufacturer, has released Propel, a pair of cycling glasses that are "designed to enhance aerodynamics and performance" by minimising turbulence caused by the rider's ears.
In March 2021 Speedlab introduced New Rideley and New Fade Colors of Spring 2021, including SP21 Active Performance sunglasses under the Ridely brand.
Bicycle Apparels & Accessories Market Segmentation
Bicycle Apparels & Accessories Market By Type Outlook
- Helmets
- Jerseys & Tees
- Gloves, Pants & Shorts
- Shoes
- Goggles & Glasses
- Protection Gears
- Scoks
- Others
Bicycle Apparels & Accessories Market By Category Outlook
- Mountain Bikes
- Road Bikes
- City Bikes
- Others
Bicycle Apparels & Accessories Market By Distribution Channel Outlook
- Store-Based
- Supermarkets & Hypermarkets
- Specialty Stores
- Others
- Non-Store-Based
Bicycle Apparels & Accessories Regional Outlook
North America
- US
- Canada
Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
Rest of the World
- Middle East
- Africa
- Latin America
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