USD 1.7 billion
Triathlon Clothing Market Size, Share, Growth Analysis, By Type(Tri Tops, Tri Shorts and Tri Suits), By Application(Men and Women), By Distribution Channel(Offline and Online), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25K2054 |
Region:
Global |
Published Date: February, 2024
Pages:
275
|Tables:
85
|Figures:
77
Triathlon Clothing Market Insights
Global Triathlon Clothing Market size was valued at USD 1.7 billion in 2021 and is poised to grow from USD 1.9 billion in 2022 to USD 3.6 billion by 2030, growing at a CAGR of 8% in the forecast period (2023-2030).
The increase in participation in triathlons and other sports like swimming, cycling, and running as well as the number of events being held by triathlon regulatory bodies of various regions are also credited with the growth. In 2020, the COVID-19 epidemic had a significant effect on the worldwide triathlon apparel market, with most companies reporting decreased sales. The majority of triathlon clothing buyers are concentrated in North America and Europe, two areas that have been severely impacted by the epidemic. Sales of triathlon apparel are significantly harmed by this.
Retailers have suffered significant losses during this time. The lockout caused major losses for many companies, including Nike, Triathlon LAB, Road Runners Sports, and other department stores that closed. The majority of places in the world now consider sporting goods to be non-essential services, which has resulted in a significant decline in sales of these products. The abrupt termination of the sport's competitions as well as other sports events like swimming and cycling competitions had a significant negative influence on the sales of triathlon apparel.
The main factors driving the expansion of the triathlon gear industry are increased commercialization and shifting lifestyle preferences, particularly in developing nations. The triathlon gear market will experience profitable growth due to rising obesity rates and increased public awareness of the benefits of cycling and swimming. The growing number of triathletes and major manufacturers' increased attention to technical developments are two additional important factors fostering the growth of the triathlon apparel market. Additionally, the market is boosted by the expanding type selection of triathlon apparel, the popularity of triathlon contests and championships, as well as the growing interest in sports among millennials and women.
The business was encouraged by government initiatives in several nations to build sports infrastructure. For instance, the State General Sports Administration of China, the Ministry of Industry and Information Technology of China, and nine departments released a collaborative action plan in June 2020 to improve the domestic sports industry's infrastructure. This strategy is anticipated to play a significant part in raising consumer awareness of domestic sporting events, which will increase demand for sportswear in the nation.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Offline
Fastest Growth
Offline
Growth Rate
8% CAGR
Global Triathlon Clothing Market 2022-2030 ($ Bn)
Country Share for North America Region- 2022 (%)
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Triathlon Clothing Market Segmental Analysis
Global Triathlon Clothing Market is segmented based on Type, Application, Distribution Channel and region. Based on Type the market is segmented into Tri Tops, Tri Shorts and Tri Suits. Based on End User the market is segmented into Men and Women. Based on Distribution Channel the market is segmented into Offline and Online. Based on region the global Triathlon Clothing Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by Type
In 2022, the tri-suits market accounted for 43.7% of total revenue. Tri-suits are a kind of clothing that both men and women can wear. Due to the fact that they are made of an elastic material that may be worn near to the body, they are supported while jogging or cycling. This market is primarily driven by features like quick drying technology, breathability and quick wicking, zipper access, aerodynamic fit and fabric, and consumers' desire to spend money on triathlon apparel.
The tri shorts market is estimated to grow at a CAGR of 8.1% during the forecast period. The rise of this market is attributed to the popularity of activities like cycling and swimming. The demand for comfortable yet fashionable triathlon shorts has also boosted the options available to consumers for triathlon clothing.
Analysis by Distribution Channel
In 2022, the internet market accounted for 45.7% of total revenue. An increase in customer preference for online distribution channels is fueling demand for the market. Increased product availability, easy payment options, and doorstep delivery are some of the factors promoting the growth of online share. Online marketplaces are more in demand as internet usage rises and customers use e-commerce websites more regularly.
The pandemic has also spread the digital revolution over a number of industries, including the market for triathlon apparel. Customers increasingly prefer to shop online in order to avoid uncomfortable and needless socialization as a result of the pandemic.
Global Triathlon Clothing Market By Distribution Channel 2022 (%)
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Triathlon Clothing Market Regional Insights
Asia-Pacific is expected to see substantial improvements during the forecast period and anticipates the fastest compound annual growth rate due to the region's expanding clothing and apparel industry, rising number of manufacturers, particularly in emerging economies like India and China, growing popularity of agility and stamina-based sports, high demand from developing nations, and rising personal disposable income. (CAGR).
In 2022, North America held the majority of the market, with a 49.7% share. This is because there are many domestic and international contests, including the yearly U.S. Eight Ironman races with an average of 16,000 Ironmen and Ironwomen participants and the Sprint Triathlon Championship. Spending on textile and ethical fashion materials created with low-impact techniques, like organic cotton and recycled nylon, is heavily influenced by the U.S. These elements are projected to have a favorable effect on the expansion of the triathlon clothing market in North America throughout the course of the forecast year.
Global Triathlon Clothing Market By Geography, 2022-2030
- Largest
- Fastest
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Triathlon Clothing Market Dynamics
Drivers
Increasing Popularity of Triathlon as a Sport to Bolster Market
- Triathlon is a challenging and exciting sport that has gained a lot of popularity in recent years. This has resulted in a growing number of people participating in triathlon events and a subsequent increase in demand for triathlon clothing.
Restraints
High Cost to Hinder Market Growth
- Triathlon clothing can be expensive, and this can be a deterrent for some people who are interested in the sport. The high cost of clothing may limit the growth of the market, particularly in developing countries where disposable income is limited.
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Triathlon Clothing Market Competitive Landscape
There are several players in the market for triathlon apparel, which defines it. To obtain a competitive edge, businesses have been implementing a variety of growth methods, including mergers and acquisitions, collaborations, and the introduction of new products. For instance, Zone3 Ltd. introduced a breaststroke wetsuit in April 2022. In response to the large number of individuals asking for something they can swim front crawl and breaststroke with, the device was created. For open-water swimmers, it is anticipated that it will become necessary apparel.
Top Player’s Company Profiles
- Zoot Sports
- 2XU
- ROKA
- Castelli
- HUUB Design
- Orca
- Pearl Izumi
- Santini Maglificio Sportivo
- SKINS
- Louis Garneau
- TYR Sport, Inc.
- Sugoi
- Zone3
- Dare2Tri
- De Soto Sport
- Blue Seventy
- Aqua Sphere
- Champion System
- Kiwami Triathlon
- Craft
Recent Developments
- In September 2022, VARLO took the global market and announced the official launch of its top brand. VARLO wants to make a promise to young and skilled athletes in the multi-sport group about the progress of high-performance technical clothing through increased and expanded involvement, adoption with NCAA sports, and outreach lineups.
Triathlon Clothing Key Market Trends
- The demand for triathlon apparel is being driven by the rising popularity of triathlons and other multi-sport competitions worldwide. In the upcoming years, it is predicted that this tendency will persist.
- Triathlon clothing manufacturers are increasingly focusing on designing clothing that is comfortable, lightweight, and allows for maximum performance. This includes using materials that are breathable and quick-drying, as well as incorporating features like compression to improve circulation and reduce muscle fatigue.
- There is a growing trend towards sustainable materials and manufacturing practices in the apparel industry, and the triathlon clothing market is no exception. Manufacturers are using recycled materials and reducing waste in their production processes to appeal to environmentally conscious consumers.
- With the rise of e-commerce, more consumers are purchasing triathlon clothing online, and manufacturers are adapting to this trend by increasing their online presence and improving their e-commerce capabilities.
Triathlon Clothing Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, we found that the Triathlon Clothing market is the increase in participation in triathlons and other sports like swimming, cycling, and running as well as the number of events being held by triathlon regulatory bodies of various regions are also credited with the growth. The main factors driving the expansion of the triathlon gear industry are increased commercialization and shifting lifestyle preferences, particularly in developing nations. The triathlon gear market will experience profitable growth due to rising obesity rates and increased public awareness of the benefits of cycling and swimming. The growing number of triathletes and major manufacturers' increased attention to technical developments are two additional important factors fostering the growth of the triathlon apparel market. Additionally, the market is boosted by the expanding type selection of triathlon apparel, the popularity of triathlon contests and championships, as well as the growing interest in sports among millennials and women.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 1.7 billion |
| Market size value in 2031 | USD 3.6 billion |
| Growth Rate | 8% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
Recent Developments
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Triathlon Clothing Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Triathlon Clothing Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Triathlon Clothing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Triathlon Clothing Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Triathlon Clothing Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Triathlon Clothing Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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