Mountain Bike Footwear & Socks Market – Trends and Forecast till 2023

Published On: February 2018

Mountain Bike Footwear & Socks Market

The technological advancement in mountain bike footwear and socks market have progressed at breakneck pace. The shoes are designed and engineered to increase rider efficiency and comforts. Toe protection, speed lacing system, armor flap, and quick drying system are some of technologies used in the making of mountain bike footwear. These shoes vary significantly in features and performance. In addition, mountain bike socks include features such as antimicrobial fibers woven into socks, thermal protection, and moisture management features, among others. These features of mountain bike footwear and socks gives it an edge over regular footwear and socks, thereby giving impetus to the market growth.

Furthermore, with significant growth in women participation in mountain bike sports, the demand for the product has accelerated manifold, providing potential growth opportunities to the manufaturers of mountain bike footwear and socks. For instance, Shimano corporation capitalized on the growing demand for the demand for the product by women and introduced 3D design specifically catering to women’s requirements. The company also introduced various technologies for sole, weather protection, and gravity assisted riding

Product Marketing: Impact of Digital and Social Media Marketing

The popularity of digital and social media marketing has increased tremedously in recent years compelling majority of the company to increase its digital marketing budget. Furthermore the age and gender targeted marketing options offered by major social media platforms made it convenient for the companies to connect with the potential customers. Leading market players are now actively opting for online advertising as it has proven to be more effective than traditional marketing methods. For instance, Puma uses social media to build the brand and to drive awareness around big product and campaign launches. Thus, it has bridge the gap between the manufacturer and consumers, consequently triggering the demand for customization and personalization of products.

North American and European market: The Rulers of the Global Market

The global mountain bike footwear and socks products market collected USD 4,896.45 million during the year 2017, owing to increasing demand for the product by consumers. The popularity of mountain bike sports is not only popular in developing economies but is also gaining popularity in emerging economies of Asia and Africa. With emergence of various mountain biking clubs/communities and government investing in improving infrastructure, the demand for mountain bike sports related products including footwear and socks have increased significantly.

North America is one of the lucrative markets in the globe, which is gaining tremendous attraction of consumers. This has helped to reach revenue of USD 2,070.76 million in the year 2017. In the U.S. alone mountain bike footwear and socks market is estimated to be valued at USD 1,555.19 million and it is projected to expand at a noteworthy rate. Technological advancement catering to specific needs of the customers has contributed to the market growth

The European region has also witnessed significant growth owing to the growing popularity of mountain bike sports in the region.

Associations such as International Mountain Bicycling Association (IMBA) U.K. and Ireland and CTC collaborated to further promote mountain biking in Europe as well as working towards integrating volunteer networks. Therefore, creating opportunities for the growth of mountain bike products market including footwear and socks. Furthermore, female participation in mountain biking is projected to grow at a significant rate, thereby fuelling the demand for the product.

Competitive scenario: Mountain Bike Footwear and Socks

The market competitors are following both organic and inorganic growth strategies to capitalize on the growing demand for mountain bike footwear and socks market. Though, the global market is moderately consolidated, there is stiff competition among major players for gaining maximum market share. The companies are competing on various factors such as technological advancement, product features and designs, and price, among others. The companies are exploring emerging markets to increase their geographical reach and investing significantly on product promotion. The companies are also capitalizing on the growing popularity of e-commerce and digital and social media marketing to reach right target group, consequently, enhancing sales revenue possibilities.

Shimano Corporation teamed up with Athertons for introducing novel gravity and all-mountain footwear and pedals. The footwear has been designed to provide better protection and quick drying system, among others. This collaboration for new product launch strengthen company’s product portfolio.

Five Ten Corporation launched new signature shoe in collaboration with mountain bike popular personality “Danny MacAskill” with whom the company has a long term partnership. Through the celebrity endorsement, the company aims at increasing its consumer base as well as in enhancing its product portfolio.

Vista Outdoor acquired BRG Action Sports Division from BRG Group which market leading brands Bell, Giro, C-Preme, and Blackburn. Through this acquisition, the company aims to strengthen its ability to offer a broad range of innovative, high-quality products.

Mountain Bike Shoes And Socks-Do We Really Need?

Mountain Bike Shoes are designed taking into account the rugged and unpredictable mountain trail which provide better grip and provide protection against hitting any obstacle. In addition, socks comes with essential features such as antimicrobial and moisture management features, among others. These features gives them an edge over other shoes and socks. They are apt for professional mountain bikers as they provide better control as well as convenience and comfort to the rider.