Global Archive - Triathlon Clothing Market Size and Forecast Report to 2030

  • Report Code : TIPAR00035752
  • Category : Chemicals and Materials
  • Status : Upcoming
  • No. of Pages : 150
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The triathlon clothing market is expected to grow from US$ 1,950.21 million in 2022 to US$ 3,381.90 million by 2030; it is expected to record a CAGR of 7.6% from 2022 to 2030.

Market Insights and Analyst View:

A triathlon is an endurance multisport race consisting of cycling, swimming, and running over various distances. Triathlon clothing, including the swim, bike, and run, is designed to be worn throughout the race. The shorts or racesuits have tri-specific chamois designed to provide comfort on the bike leg but do not soak up much water during the swimming or discomfort during the run. These clothes are available for men, women, and kids. A surge in population participating in Triathlon and other sports boosts the triathlon clothing market share globally.

Growth Drivers and Challenges:

The growth of the triathlon clothing market is attributed to the rising events organized by triathlon governing bodies of various regions and an increasing number of people participating in triathlons and other sports like running, swimming, and cycling. The major drivers of the expansion of the triathlon clothing industry are increased commercialization and shifting lifestyle trends, particularly in developing economies. Growing obesity rates and more excellent public knowledge of the advantages of swimming and cycling will help the triathlon clothing market undergo profitable expansion. Other significant factors supporting the growth of the triathlon clothing market include the increasing number of triathletes and the rising focus of major manufacturers on technological advancements. Moreover, the intensifying lineup of triathlon clothing, the rising popularity of triathlon events and championships, and rising awareness about sports among millennials and women's popularity also boost the market.

Furthermore, government initiatives to develop sports infrastructure in many countries across the globe boosted market growth. For instance, the State General Sports Administration of China, the Ministry of Industry and Information Technology of the Chinese government, and nine departments jointly issued an action plan for developing sports industry infrastructure domestically in June 2019. This plan is expected to play a primary role in the rising consumer awareness about domestic sports activities, thereby boosting the demand for sports apparel such as triathlon clothing in the country.

However, Triathlon is a niche sport; thus, its clothing is less adopted than other athletic wear. The making of this clothing required high-tech materials, which increased the prices of triathlon clothes. This factor can negatively impact the triathlon clothing market across the globe.

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Global Archive - Triathlon Clothing Market: Strategic Insights

Global Archive - Triathlon Clothing Market

  • CAGR (2023 - 2031)
    7.60%
  • Market Size 2023
    US$ 2.10 Billion
  • Market Size 2031
    US$ 3.77 Billion

Market Dynamics

GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players

  • ZONE3 Ltd
  • Zoot Sports
  • De Soto Sport
  • Louis Garneau Sports
  • 2XU
  • PEARL iZUMi
  • Orca
  • Kiwami Triathlon
  • TYR SPORT. INC
  • HUUB Design

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Type
  • Tri Tops
  • Tri Shorts
  • Tri Suits
Category
  • Men
  • Women
  • Kids
Distribution Channel
  • Supermarkets & Hypermarkets
  • Specialty Stores
  • Online Retail
  • Others
Geography
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

    Report Segmentation and Scope:

    The "Global Triathlon Clothing Market" is segmented based on type, category, distribution channel, and geography. The triathlon clothing market is segmented based on type into tri tops, tri shorts, and tri suits. Based on category, the market is divided into men, women, and kids. In terms of distribution channels, the market is classified into supermarkets & hypermarkets, specialty stores, online retail, and others. The triathlon clothing market based on geography is segmented into North America (US, Canada, and Mexico), Europe (Germany, France, Italy, UK, Russia, and Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America)

    Segmental Analysis:

    The triathlon clothing market is segmented based on category into men, women, and kids. The men's segment holds a significant market share and is projected to register a significant CAGR in the triathlon clothing market during the forecast period due to the strong participation of males at both formal and informal events such as the Ironman. According to Triathlon Australia, the majority of the triathlon participants in Australia were male (64%) in 2019. Similarly, according to the Council of Europe data for 2022, 75% of young men and 55% of young women practice sports or other activities at least once a week; moreover, 15% of young men, compared to 8% of young women are engaged in sports or other physical activity at least five times per week. Such stats show increasing participation of men in sports such as Triathlon. These factors boost the demand for triathlon clothing among men and further drive the segment's share.

    Regional Analysis: 

    Based on geography, the triathlon clothing market is divided into five key regions: North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa. The triathlon clothing market in North America is significantly growing with the increasing participation in sports. The COVID-19 pandemic has highlighted the importance of health and fitness and changing consumers' lifestyles towards healthy living. For instance, according to the Sports & Fitness Industry Association (SFIA), more than 76% of all Americans, or 236.9 million people, participated in at least one sports activity during 2022. Hence, the expanding participation of North Americans in different sports categories further fuels the demand for triathlon clothing across the region.

    Moreover, factors such as widespread access to digital platforms through the Internet and smart devices and the launch of customized products are increasing the sale of triathlon clothing. Additionally, the US is one of the significant and most highly competitive triathlon clothing markets. The growing health consciousness in the country is positively impacting the market growth. Furthermore, factors such as the growing number of female participants in different sports and fitness activities, high disposable income, and a strong inclination for outdoor sports activities fuel the market growth in the region. Hence, such factors are driving the market growth in North America during the forecast period.

    Industry Developments and Future Opportunities:

    Various initiatives taken by key players operating in the triathlon clothing market are listed below:

    1. In April 2022, Zone3 Ltd. introduced a breaststroke wetsuit. The product was designed in order to help the many people looking for something they can front crawl, swim, and breaststroke with. It is anticipated to become essential sportswear for open-water swimmers.
    2. In October 2022, Zoot Sports introduced Ultra P1, the revolutionary triathlon race suit. The company has developed this fast race suit. The product is manufactured for speed, comfort, and functionality.
    3. In September 2022, the key market player, VARLO, took the international market and declared the authorized launch of its premium global brand. With new and expanded participation, the adoption of NCAA sports, and the outreach lineup, VARLO proposes to promise an advancement of high-performance technical clothing to new and skilled athletes in the multisport group.

    COVID-19 Impact:

    The COVID-19 pandemic affected almost all industries in various countries. Lockdowns, business closures, and travel restrictions in North America, Europe, Asia Pacific (APAC), South & Central America (SAM), and the Middle East & Africa (MEA) hampered the growth of several industries, including the sports & fitness, textiles, and other industries. The shutdown of production units negatively impacted the global supply chains, delivery schedules, manufacturing activities, and essential and nonessential product sales. Various companies witnessed delays in product deliveries and a slump in sales of their products in 2020.  

    Moreover, bans on international travel imposed by governments of various European countries, Asia Pacific, and North America compelled companies to discontinue their partnership and collaboration plans temporarily. All these factors impede various industries in 2020 and early 2021, thereby hampering the growth of the triathlon clothing market.

    However, by the end of 2021, many countries were fully vaccinated, and governments announced relaxations in certain regulations, including lockdowns and travel bans. The relaxation of trade restrictions aided in import and export operations, positively impacting the growth of the triathlon clothing market.

    Competitive Landscape and Key Companies:

    A few of the prominent players operating in the global triathlon clothing market include ZONE3 Ltd, Zoot Sports, De Soto Sport, Louis Garneau Sports, 2XU, PEARL iZUMi, Orca, Kiwami Triathlon, TYR SPORT. INC, HUUB Design, among others. These market players are adopting strategic development initiatives to expand, further driving the growth of the triathlon clothing market. 

    Global Archive - Triathlon Clothing Market Report Scope

    Report Attribute Details
    Market size in 2023 US$ 2.10 Billion
    Market Size by 2031 US$ 3.77 Billion
    Global CAGR (2023 - 2031) 7.60%
    Historical Data 2021-2022
    Forecast period 2024-2031
    Segments Covered By Type
    • Tri Tops
    • Tri Shorts
    • Tri Suits
    By Category
    • Men
    • Women
    • Kids
    By Distribution Channel
    • Supermarkets & Hypermarkets
    • Specialty Stores
    • Online Retail
    • Others
    By Geography
    Regions and Countries Covered North America
    • US
    • Canada
    • Mexico
    Europe
    • UK
    • Germany
    • France
    • Russia
    • Italy
    • Rest of Europe
    Asia-Pacific
    • China
    • India
    • Japan
    • Australia
    • Rest of Asia-Pacific
    South and Central America
    • Brazil
    • Argentina
    • Rest of South and Central America
    Middle East and Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of Middle East and Africa
    Market leaders and key company profiles
  • ZONE3 Ltd
  • Zoot Sports
  • De Soto Sport
  • Louis Garneau Sports
  • 2XU
  • PEARL iZUMi
  • Orca
  • Kiwami Triathlon
  • TYR SPORT. INC
  • HUUB Design
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

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    to segments covered.

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

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    to country scope.

    The List of Companies

    • ZONE3 Ltd
    • Zoot Sports
    • De Soto Sport
    • Louis Garneau Sports
    • 2XU
    • PEARL iZUMi
    • Orca
    • Kiwami Triathlon
    • TYR SPORT. INC
    • HUUB Design

    The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

    1. Data Collection and Secondary Research:

    As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

    Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

    1. Primary Research:

    The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

    For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

    A typical research interview fulfils the following functions:

    • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
    • Validates and strengthens in-house secondary research findings
    • Develops the analysis team’s expertise and market understanding

    Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

    • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
    • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

    Below is the breakup of our primary respondents by company, designation, and region:

    Research Methodology

    Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

    1. Data Analysis:

    Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

    • 3.1 Macro-Economic Factor Analysis:

    We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

    • 3.2 Country Level Data:

    Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

    • 3.3 Company Profile:

    The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

    • 3.4 Developing Base Number:

    Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

    1. Data Triangulation and Final Review:

    The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

    We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

    We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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