New York, US, March 02, 2023 (GLOBE NEWSWIRE) -- Triathlon Clothing Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), Triathlon Clothing Market Information By Type, Application, And Region - Forecast till 2030"; the market will reach USD 2,886.9 million by 2030 at an 8.21% CAGR.
Market Synopsis
The sport of triathlon combines swimming, riding, and running. This competition, which pits men and women against one another, requires stamina, endurance, strength, agility, and concentration. As a result, appropriate clothing that is lightweight, breathable, and temperature-resistant must be worn for the occasion. Especially in developing economies, growing commercialization and changing lifestyle tastes are the key forces behind the growth of the triathlon apparel market. Increased awareness of the benefits of cycling and swimming and rising obesity rates will aid in the triathlon apparel market's profitable growth. The triathlon apparel market is also driven by other important factors, such as a boost in the number of triathletes and major manufacturers' increased focus on technological developments.
The market is additionally boosted by the expanding type selection of triathlon apparel, the popularity of triathlon contests and championships, and millennials' and women's growing interest in sports. Because more options are available on the global market and more women are participating in sports, the requirement for triathlon clothing is expected to increase, especially during the current forecast period that will end in 2030. Triathlon clothing is renowned for being selected to be more specialized. Due to nations' increasing investments in sports infrastructure, it is projected that more women will participate in various sports in the following years.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 2,886.9 million |
| CAGR | 8.21% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USDmbillion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Application, And Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increase in sporting functions |
| inclination towards sporting functions |
Market Competitive Landscape:
The important contenders in the triathlon clothing market are:
- De Soto Sport (Germany),
- TYR Sport, Inc. (U.S.),
- Louis Garneau Sports (Canada),
- Zone3 (U.K.),
- HUUB Design (U.K.),
- Zoot Sports (Hawaii),
- Kiwami Triathlon (Kiwami) (France),
- Pearl Izumi (U.S.),
- Orca (New Zealand)
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Market U.S.P. Covered:
Market Drivers:
The primary drivers of the growth of the triathlon clothing market include an increase in the demand for lightweight, high-quality fabrics, particularly in developing nations, the expansion of the clothing and apparel industry, the rising participation of young people in triathlon and other sports, and rising personal disposable income. The main drivers of the expansion of the triathlon gear market are increased commercialization and shifting human lifestyles, particularly in developing economies. Growing obesity rates and greater public knowledge of cycling and swimming advantages will help the triathlon apparel market see profitable expansion.
Other significant factors supporting the growth of the triathlon clothing market include the rising number of triathletes, the increasing focus of major manufacturers on technical advances, the intensifying product lineup of triathlon apparel, and the increasing popularity of triathlon contests and championships. Increased product availability, doorstep delivery, and easy payment promote online share growth. As internet usage grows and consumers use e-commerce websites more frequently, there is an increased demand for online marketplaces. Additionally, the sportswear market has significant development potential due to the increase of offline retail sportswear stores.
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Market Restraints:
The manufacturers' tremendous pricing pressure will present a significant obstacle to the expansion of the triathlon apparel market. The availability of alternatives on the international market and the high production costs of high-quality fabrics may further hinder the industry's expansion. A weak distribution chain and a weak distribution network will further constrain the scope of the growth of triathlon apparel.
COVID 19 Analysis
Triathletes ride road racing bicycles, swim, and run while donning triathlon gear. They come in various sizes and forms, and their main purpose is to enhance an athlete's performance. The coronavirus pandemic epidemic has significantly slowed down the expansion of the economies of various nations. The decision by the international governments to prolong the temporary and ongoing lockdown, which has had a direct impact on sporting activities, was made in response to the rising positive cases and deaths in many nations. In several nations, sporting events, festivities, or activities have been postponed or canceled altogether. For instance, the Tokyo Olympics festivities have been postponed until 2021 due to the COVID-19 epidemic. The pandemic has also extended the digital revolution over several industries, including the marketplace for triathlon apparel. The pandemic has caused customers to alter their purchasing habits, and they now prefer to buy online to avoid awkward and needless social interaction. Most triathlon clothing buyers are concentrated in North America and Europe, two areas the epidemic has severely impacted. This has a considerable negative impact on triathlon clothing sales revenue.
Market Segmentation
By application, the market includes men and women. By type, the market includes tri tops, tri shorts, and tri suits.
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Regional Insights
Europe is making significant advancements as it dominates the world triathlon apparel market. The market growth rate in the area will continue to increase over the projection period as a result of rising spending on R&D and rising female participation in this sport, particularly in France and Germany. The rise in involvement in triathlons, swimming, running, biking, and other sporting events fuels the need for triathlon apparel. Additionally, this trend is boosting customer participation in health and fitness facilities. Increased consumer spending is anticipated to propel market expansion in advanced countries like Germany and the U.K., where appealing triathlon attire is easily accessible. Due to the region's expansion of the clothing and apparel industry, the rising number of manufacturers, particularly in emerging economies such as China and India, the growing popularity of agility, strength, and endurance sports, the high demand from developing economies, and rising personal disposable income, Asia-Pacific will continue to experience substantial gains during the projected timeline and will record the highest CAGR. The U.S. contributes significantly to North America's research and development budgets for textiles and ethical clothing created from materials with low environmental effects, like natural fibers and recycled nylon. These elements are predicted to have a positive effect on the market growth for triathlon apparel in North America throughout the duration of the forecast period.
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