Bicycle Pannier Market Size, Share, Growth and Industry Analysis by Type (Waterproof, And, Non-Waterproof), By Application (Online Sales, And, Offline Sales) Regional Forecast From 2024 To 2031

Updated On: 22 April 2024

Bicycle Pannier Market Report Overview

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The global bicycle pannier market size expanded rapidly in 2021, as per our research, the market is expected to generate substantial revenue by 2031, a robust CAGR during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the bicycle pannier market experiencing higher-than-anticipated/lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

A bicycle pannier is a bag, basket, or a box that helps in storing various items. They can be used while riding a bicycle. They can be mounted over the wheels of a bicycle. They can be mounted either in the back or front. When bicyclers have to cover a very long distance on their bicycle, they use these panniers.

Post pandemic the number of people who took to cycling increased drastically. Many marathons and tournaments were conducted to encourage the participation of people in cycling. Panniers are available in different colors, sizes, and designs. Health benefits of cycling and reduction in the emission of carbon particles is increasing the demand for the product. These factors act as the driving force of the bicycle pannier market growth.

COVID-19 Impact: Decrease in Outdoor Activities During Pandemic Reduced Market Share

The pandemic of COVID-19 was a major reason for the down fall of all the economies. This was due to a drastic reduction in the demand for all the products. Other restrictions that were imposed during the pandemic included lockdowns. Along with social distancing norms, travel bans were also imposed.

All these factors reduced the outdoor activities taken up by people during pandemic time. Cycling is also an important outdoor activity. The number of people using bicycles decreased during this time. As a result, the sales of panniers were completely reduced during the pandemic of COVID-19.

LATEST TRENDS

"Conduction of Cycling Tournaments All Over the World to Increase Market Growth"

Even if the number of outdoor activities that were conducted reduced during the pandemic, the situation changed after the pandemic of COVID-19. Many people started showing interest towards participating in activities like cycling. This in turn has led to the conduction of many cycling tournaments all over the world.

Also, the demand for long bicycle tours have increased. People travel from one place to another on a cycle. While doing so they carry a bicycle pannier to keep things that they require. While going on long rides, carrying a pannier will be very convenient as it helps in holding things that will be essential for the rider. Many companies are taking up the initiative to conduct bicycle marathons to promote good health among their employees. All of these are considered as the latest trend in the market.

Bicycle Pannier Market Segmentation

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• By Type:

The market can be divided on the basis of devices into the following segments:

Waterproof, and, non-waterproof. The waterproof segment is anticipated to dominate the market during the forecast period.

• By Application:

Based on application, the market share is bifurcated into the following segments:

Online sales, and, offline sales. The online sales segment is expected to dominate the market during the forecast period.

DRIVING FACTORS

"Rapid Penetration of Social Media and Internet to Amplify Market Growth"

Due to the technological developments that are taking place, penetration of internet and social media has increased. Social media platforms are being used as a very effective tool to promote products, services, and even businesses to people. These platforms are preferred as they can reach a large number of people in limited time. Growing brand awareness among people is a very important factor that is amplifying the bicycle pannier market share

Many new designs are introduced among the bicycle panniers. They are made in new colors and have numerous attractive features. These panniers are very sturdy and can be used for a long period of time. Another strategy used by most companies is the employment of celebrity brand ambassadors to promote their brands. All of these factors are prone to fuel the growth and development of the market.

"Growing Passion of People Towards Cycling to Impede Market Growth"

People are becoming very conscious about their health after the pandemic. They are indulging themselves in various physical activities, to become strong and healthy. The rising awareness among people to maintain good health has increased their passion towards cycling. Cycling is a very good form of cardio workout. It promotes good heart health. Various benefits provided by cycling is increasing the demand for panniers.  

Recently there has been an increase in the number of female cyclists participating in marathons and tournaments. The need to store all the belongings safely while cycling has increased. Therefore, many people prefer to use bicycle panniers. Cycling is being taken up as an action to reduce the emission of carbon into the environment. Using of vehicles has caused a lot of damage to the nature. In order to reduce the harmful chemical emissions given out, cycling is being taken up. All of these factors are accelerating market growth.

RESTRAINING FACTOR

"Increasing Cost of Bicycle Panniers to Bring Down Market Share"

Bicycle panniers are the most convenient tool that can be used while on a bicycle. They help the cyclist to keep and carry all the essential items while riding. However, the only disadvantage of the product has is its high cost. This factor can hamper the demand for the product.

Panniers that are sold by branded companies are very costly and are not affordable by everyone. The raw materials that are required to manufacture bicycle pannier are also expensive. The fluctuation in the price of raw materials can have a negative impact on the market.

Bicycle Pannier Market Regional Insights

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"Europe to Dominate Market Share Due to Increased Cycling activities "

Europe is the region that captures the major part of the market share. Many factors have contributed in the development of the market in Europe. The most important one includes increasing number of people taking part in cycling activities.

More and more people are getting interested in cycling due to spreading awareness about the health benefits of this physical activity. Also, many people are taking up cycling as their career. Organization of Olympics and other cycling tournaments in and around this region is propelling the market growth.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• Apidura (U.K.)
• Revelate (U.S.)
• Blackburn Design (U.S.)
• Roswheel (China)
• Porcelain Rocket (Canada)
• Wildcat (Germany)
• Topeak (Taiwan)
• ORTLIEB (Germany)
• Restrap (U.K.)
• Tailfin Cycling (U.K.)
• Alpkit (U.K.)
• Evoc (China)
• MISS GRAPE SNC (Italy)
• Bedrock (U.S.)
• Arkel (U.S.)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations. A list of the top industry players has listed to give an idea of the competition prevailing in the market.