(MENAFN- iCrowdNewsWire) Global Mountain Bike Jerseys Market Expected to Reach USD 267.7 Million by 2027
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iCrowdNewswire Jan 14, 2021 9:50 AM ET
According to a recent market study published by Growth Market Reports (GMR), titled, 'Global Mountain Bike Jerseys Market by Types, Applications, and Regions: Size, Share, Trends and Opportunity Analysis, 2017-2027, the market was valued at USD 139.6 million in 2019 and is expected to grow at a significant CAGR during the forecast period. The mountain bike jerseys market volume is anticipated to rise at a CAGR of around 8.3% between 2020 and 2027. Mountain bike jerseys can be designed as per an individual rider's choice, which is called jersey customization or modification. This is usually done by professional riders where they can print a sponsor's logo design and which acts as an advertisement section for sponsors to promote their product. Owing to advanced technology and development in the apparel industry, there is an increase in the product of jersey in different fashion such as 3/4th sleeves, full, different prints that attract the customer thus, there is an increase in the demand for a jersey in the junior segment.
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The global mountain bike jerseys market is fragmented based on types, applications, and regions. In terms of type, the market is segmented into simpler fabrics, UPF, others. On the basis of applications, the market is classified as men clothes, women clothes, children's clothes. Based on regions, the global mountain bike jerseys market is categorized as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). North America is further bifurcated into countries such as the U.S. and Canada. Latin America is segregated into Brazil, Mexico, and Rest of Latin America. Asia Pacific is split into China, Japan, South Korea, India, Australia, Indonesia, Malaysia, Philippines, Thailand, Vietnam, Singapore, and Rest of Asia Pacific. Europe is categorized as the U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. MEA is further segmented into GCC Countries, Turkey, Egypt, South Africa, and Rest of Middle East & Africa.
The effect of COVID-19 is anticipated to be strongly felt in the consumer goods industry due to high dependency of different global industries for imports. Moreover, the pandemic situation has led to the closure of several non-essential businesses reducing the demand for consumer durables in the world, which in turn, is impeding the disruption in supply chain across several industry verticals. Since the COVID-19 pandemic is diminishing the end-user demand for daily wear products worldwide. However, the demand for mountain bike jerseys is expected to undergo slight growth in terms of demand during this pandemic. The COVID-19 have created potential demand for bicycles and mountain bikes as people are spending more time at home has led to adoption of hobbies such as cycling. Hence, the increase in sale of mountain bikes has ultimately created a demand for jerseys. Although, the demand is expected to grow slightly due to high prices of these jerseys and availability of cheap counterfeit.
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As per GMR industry analysts Vidya Jadhav, 'The global mountain bike jerseys market is anticipated to grow during the forecast period from 2021 to 2027 driven by increasing initiatives from government and private organizations for promoting usage of bicycles, increase in diseases such as obesity, high blood pressure, and people started maintaining weight. For example, the Government of Scotland announced support for mountain biking. This action of government boost demand for riding. Mountain riding one of the exercise to reduce lifestyle disease are boosting the market. Safety is the primary thing for riders during mountain bike riding. As a part of protection and safety, people demanding protective guards, gloves, and jersey.
Key Takeaways from the Study: - Dakine, FOX, Louis Garneau Sports, and POC Sports are the leading manufacturers operating in the global mountain bike jerseys market.
- Europe accounts for a major share of the market driven by strong presence of mountain bike riders in this region, followed by North America. The market in North America is projected to expand at a significant CAGR during the forecast period.
- The UPF Jerseys segment is anticipated to expand at a CAGR of over 8.5% during the forecast period.
- The Asia Pacific mountain bike jerseys market is expected to generate large revenue during the forecast period owing to growing population, increasing disposable income, and strong presence of young population.
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Report Scope: | Report Metric | Details |
| Market Value in 2019 | USD 139.6 Million |
| Market Growth Rate (from 2021 to 2027) | 8.8% |
| Historical Data | 2017 & 2018 |
| Base Year | 2019 |
| Forecast Period | 2020 - 2027 |
| Units Considered | Value (USD Million) |
| Market Segments | Product Type, Applications, Regions |
| Regional Scope | North America, Europe, Latin America, Asia Pacific, Middle East & Africa (MEA) |
| Country Scope | The U.S., Canada, Germany, France, Italy, the U.K, Spain, Russia, Rest of Europe China, Japan, South Korea, India, Australia, Indonesia, Malaysia, Philippines, Thailand, Vietnam, Singapore, and Rest of Asia Pacific, Brazil, Mexico, Rest of Latin America, GCC Countries, Turkey, Egypt, South Africa, and Rest of Middle East & Africa |
| Key Companies Profiled | Dakine, FOX, Louis Garneau Sports, POC Sports,, Endura Limited., Troy Lee Designs, Yeti Cycles, and ZOIC Clothing |
| Customization Scope | Report customization available on request |
| Pricing and Purchase Options | Avail tailor-made purchase options to meet your research requirements. |
Target Audience: - Supply-side: Mountain bike Jerseys manufacturers, raw material suppliers, primary respondents, and distributors.
- Demand Side: Jersey users including men, women, and children
- Regulatory Side: Concerned government authorities, commercial research & development (R & D) institutions, and other regulatory bodies
- Associations and Industry Bodies: Environmental Protection Agency (EPA), International, Organization for Standardization (ISO), Organization of Plastics Processors of India (OPP), Ministry of Health, Labor and Welfare (MHLW), World Trade Organization (WTO), Occupational, Safety and Health Administration (OSHA), American National Standards Institute (ANSI).
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