The global fast-moving consumer goods (FMCG) market has been witnessing abrupt changes in consumer choices. The demand for a diverse variety and new arrivals of products has been increasing regular basis. Be it food and beverage, personal care, home care, or healthcare, the demand of varied products from the consumers are creating significant growth opportunities for the market players.

The Global Motorcycle Apparel Market is anticipated to record a CAGR of 7.11% to reach USD 12,303.4 Million by the year 2024.

Global Motorcycle Apparel Market: Information by Product Type (Helmets, Jackets, Gloves, Shoes, Pants, Base Layers and others), End Use (On-Road Motorcycle Apparel and Off-Road Motorcycle Apparel), Distribution Channel (Store-Based and Non-Store-Based) and Region (North America, Europe, Asia-Pacific and Rest of the World) – Forecast till 2024

A release on June 8th, 2021, by the Bureau and Economic Analysis and U.S. Census Bureau reports the recovering of the U.S. market. The report also described the recovery of U.S. International Trade in July 2021.In April 2021, exports in the country reached $300 billion, an increase of $13.4 billion. In April 2021, imports amounted to $294.5 billion, increasing by $17.4 billion. COVID19 is still a significant issue for economies around the globe, as evidenced by the year-over-year decline in exports in the U.S. between April 2020 and April 2021 and the increase in imports over that same period of time. The market is clearly trying to recover. Despite this, it means there will be a direct impact on the Healthcare/ICT/Chemical industries, resulting in a large market for Motorcycle Apparel.

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Market analysis The global motorcycle apparel market is likely to record a significant growth during the said forecast period until the year 2024. The growth in sales of two-wheelers across the globe, particularly in the Asia-Pacific region is predictable to certainly stimulate global market progress, though the high pricing of motorcbike wear is obstructing the progress of the market. The development of the global market towards the occurrence of rigorous government protocols concerning the usage of protecting wear when riding motorbikes. Also, the Global Motorcycle Apparel Market is anticipated to record a CAGR of 7.11% to reach USD 12,303.4 Million by the year 2024. Motorbikes apparel is dedicated wear, gear and a kit worn by bike riders while motorbiking.

It helps several purposes counting from clarity in vision, temperature or weather conditions, loading freight, style, proof of identity and obliging transportations plans. Motorbike wear is used to help more care and reducing risks and a low chance of getting hurt in case of road injuries. Some governments in a few countries have delegated this equipment as mandatory like helmets, shielded wear for motor bikers. Generally, motor bikes are one of the most progressing segment of the global motor bike vehicles market around the world and justify for the popularity of on and off-road vehicles in several low and middle level nations whereas is also enhancing the sales for motor bikes’ wear.

Market segmentation The global motorcycle apparel market has been segmented by Product type which includes shoes, helmets, gloves, knee pads, jackets, pants, base coats, others, etc.), then by End user and is given by on-road motorbike wear and off-road motorbike wear, by distribution channel and that includes non-store and store built and by region it is divided into the globe by Europe, North America, Rest of World and the Asia Pacific region.

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Under the helmets section the CAGR is probable reach USD 3,993.9 Million by the end of year 2024 and is believed to be the highest recording a considerable progress overall. The gloves sector is expected to be the most progressing during the forecast period than others. The chief meaning of a helmet is generally to guard the rider’s and the pillion’s head during an accident, in case. Therefore, the mounting peak of road hitting chances has caused an increase in the mandate of helmets. Also, for protection procedures helmets are made compulsory in many states which is chiefly pouring the progress into this market as well the sector.

Regional analysis The global motorcycle apparel market has been divided into Asia-Pacific, Europe, North America and the Rest of the world. Geographically, the global motorcycle apparel market is split in regions like US, Canada and Mexico in NA, where within Europe, the regions focused are Germany, UK Spain, France, Italy, UK, and the Rest of Europe, while Asia-Pacific comprises of regions like Australia & New Zealand, India, China, Japan and the rest of Asia-Pacific respectively. The Rest of the world regions are South America and Middle East & Africa.

The market in Asia-Pacific is likely to showcase the tallest CAGR of around 7.51% during the said forecast period. The increasing number of motorbike sales in the region is getting heavy and are pouring the progress of this market. Cumulative responsiveness around the security of motorbike riders and intensifying per capita incomes are the prime features for the development of the motorcycle apparels market in South America and the Middle East. The North American motorbike wear market is projected to be the tallest throughout the said forecast period. Thus, the areas resulted for around a 34.66% totaling the market share in the year 2018. The United States is the foremost supplier to the progress of the North American motorcycle apparel market.

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Major players The proposed spectators in the global motorcycle apparel market are Apparel industry, Governments, associations, and industrial bodies, the Automotive industry, Motorcycle wear manufacturers, suppliers, Motorcycle apparel manufacturers, investors, trade experts, wholesalers, traders and distributors. The projected onlookers in the global motorcycle apparel market are companies like Dunham’s Athleisure Corporation (US), Chih Tong Helmet Co., Zhuhai Safety Helmets MFG Co., Ltd. (China), Foshan Nanhai Xinyuan Helmets Co., Ltd. (China), KLIM Industries Inc. (US), KIDO Sports Co. LTD (KIDO Sports) (South Korea), Soaring Helmet Corporation (Vega Helmets) (US), Hanil Co., Ltd. (South Korea), Lanxi Yema Motorcycle Fittings Co., LTD. (China), Ltd. (Zhitong Enterprise) (China) and HJC Inc. (South Korea).

Trends like development of new supermarkets and hypermarkets are forecast to create favorable opportunities. Moreover, rising disposable income and growing demand for advanced one-stop solutions would further expand the industrial growth in the coming years.

The value of FMCG sector is forecast to reach US$ 18.5 billion by the end of the year 2028, and is anticipated to grow at a CAGR of 4.9% in the forecast period. Of all the regions, North America is dominating the entire FMCG sector and is forecast to hold the largest market share during the study period. North America FMCG sector is growing significantly owing to change in lifestyles, growing number of supermarkets, and rising urban population. Moreover, the Asia-Pacific is forecast to record the CAGR of 7.8%, because of changing lifestyles, increasing urbanization, and rising employment rate. Apart from that, increasing focus of companies and organizations towards R&D and new product launches would further boost the popularity of FMCG domain and escalate the regional growth of the market.

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