Triathlon Clothing Market Insights and Growth by 2031
The Triathlon Clothing Market size is projected to reach US$ 3.57 billion by 2031 from US$ 2.01 billion in 2023. The market is expected to register a CAGR of 7.4% from 2023 to 2031.
The preference for distinctive and personalized apparel that expresses the individuality of players is likely to remain key triathlon clothing market trends.
Triathlon Clothing Market Analysis
The growth of the triathlon clothing market is attributed to the rising triathlon 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 market undergo profitable expansion. Other major 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 type of lineup of triathlon clothing and the rising popularity of triathlon events and championships, and rising awareness about sports among millennials and women population also boost the market.
Triathlon Clothing Market Overview
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 race suits have tri-specific chamois designed to provide comfort on the bike leg, but not soak up much water during the swimming or discomfort during the run. These clothes are available for men, women, and kids. Surged population participating in Triathlon and other sports boosts the market across the globe.
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Triathlon Clothing Market: Strategic Insights
Market Size Value in US$ 1,950.21 million in 2022 Market Size Value by US$ 3,381.90 million by 2030 Growth rate CAGR of 7.6% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Triathlon Clothing Market: Strategic Insights
| Market Size Value in | US$ 1,950.21 million in 2022 |
| Market Size Value by | US$ 3,381.90 million by 2030 |
| Growth rate | CAGR of 7.6% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Triathlon Clothing Market Drivers and Opportunities
Upsurging Participation in Sports Activities Favor Market Growth
Many people engage in various sports and outdoor activities. According to the Sports & Fitness Industry Association (SFIA), more than 76% of the population (i.e., 236.9 million people) in the US participated in at least one activity in 2022, a 9.2% increase in total participation rates from 2017 and a 1.9% increase from 2021. Also, according to Eurostat, in 2021, around 44 % of the European population practiced some physical activities at least once a week. Additionally, a diverse range of sports and outdoor pursuits has created a demand for sports clothing tailored to fulfill specific needs. For instance, triathlon clothing is designed for cycling, swimming, and other sports activities that fall under triathlon. These are major drivers of the global triathlon clothing market share.
Rising Government Initiatives – An Opportunity in Triathlon Clothing Market
The government initiatives in many countries across the globe for developing sports infrastructure creating huge opportunity to the triathlon clothing market. 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 development of sports industry infrastructure on a domestic level in June 2021. This plan is expected to play a primary role in rising awareness of consumers about domestic sports activities, thereby boosting the demand for sports apparel such as triathlon clothing in the country.
Triathlon Clothing Market Report Segmentation Analysis
Key segments that contributed to the derivation of the triathlon clothing market analysis are type, category, and distribution channel.
- Based on type, the market is divided into tri tops, tri shorts, and tri suits. Tri tops segment held a larger market share in 2023.
- By category, the market is segmented into men, women, and kids. The men segment held the largest share of the market in 2023.
- In terms of distribution channel, the market is categorized into supermarkets & hypermarkets, specialty stores, online retail, and others. The specialty stores segment dominated the market in 2023.
Triathlon Clothing Market Share Analysis by Geography
The geographic scope of the triathlon clothing market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
North America has dominated the triathlon clothing market. 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.
Triathlon Clothing Market News and Recent Developments
The triathlon clothing market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for innovations, business expansion and strategies:
- in April 2022, Zone3 Ltd. introduced a breaststroke wetsuit. The product was designed in order to 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. (Source: Zone3 Ltd, Press Release)
- 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. (Source: Zoot Sports, Newsletter)
Triathlon Clothing Market Report Scope
Triathlon Clothing Market Report Coverage and Deliverables
The “Triathlon Clothing Market Size and Forecast (2023–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Category, Distribution Channel, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
- 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.
- 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.
- 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.
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- Validates and strengthens in-house secondary research findings
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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
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Below is the breakup of our primary respondents by company, designation, and region:
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.
- 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.
- 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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