The cycling market was valued at £2.31 billion in 2020, an increase of 45% vs 2019, the BA has revealed in a new impact report.
Building On The Boom: The UK Cycling Market in 2020 and Beyond was produced using data from the BA’s Market Data Service (MDS), powered by Sports Marketing Surveys Inc (SMS).
Other key findings include:
– E-bike sales share to nearly triple by 2023
– Major online shift in cycling sales, from 60:40 to 40:60 (retail:online) over last 12 months
– Double digit growth maintained across all main cycling categories in 2020 and into early 2021
– Rising participation in cycling among adults and children
– A huge increase in indoor cycling, turbo trainers and home exercise bikes
Simon Irons, Bicycle Association MDS director, said: “This report shows in hard data just how far cycling was catapulted to the frontline of the UK’s pandemic response. There was incredible double-digit growth across almost every category.
“But the cycling boom of 2020 is not the story in itself. COVID revealed how essential cycling is in the UK. Our data suggests the UK consumer has rediscovered their love of cycling. The trajectory is set for long-term growth.”
Building On The Boom: The UK Cycling Market in 2020 and Beyond is a 40-page report providing detailed analysis of cycling industry sales and growth during the calendar year 2020. This report is one of only a few which the BA makes available beyond its membership, and it is released to provide a definitive picture of what is happening in the UK market. To purchase the report, please contact Emma Catt email@example.com or +44 (0) 203 857 4411.
Read the April issue of BikeBiz below: