Organizing Campaigns and Bicycle Training Programs for Children Will Drive the Global Children Bicycle Market Through 2020, Reports Technavio

LONDON--()--Technavio analysts forecast the global children bicycle market to grow at a CAGR of 2.31% during the forecast period, according to their latest report.

The research study covers the present scenario and growth prospects of the global children bicycle market for 2016-2020. To calculate the market size, the report considers revenue generated from the retail sales of different types of bicycles for children in the age group 5-14 years.

Technavio consumer and retail analysts highlight the following three factors that are contributing to the growth of the global children bicycle market:

  • Rise in instances of childhood obesity
  • Campaigns and bicycle training programs for children
  • Growing online market

Rise in instances of childhood obesity

The growing prevalence of childhood obesity in both developing and developed countries has highlighted obesity as a public health problem globally. Childhood obesity can increase the chances of health problems such as asthma, type 2 diabetes, and cardiovascular conditions. In Australia, over 20% of the children aged 5-14 years were overweight or obese in 2015. In the same year, over one-third of the children in the US were overweight or obese and their healthcare costs alone were estimated at USD 14 billion per year. In China, 10% of primary school students were found to be obese in 2015. The prevalence of childhood obesity is high in many other countries including the UK, Bahrain, and Kuwait. Globally, 43 million children under the age of five years were obese; by the end of 2020, this number will reach 60 million.

Brijesh Kumar Choubey, a lead analyst at Technavio for research on retail goods and services, says “In an attempt to tackle obesity, parents are now trying to increase the participation of their children in physical activities such as cycling. In addition, there are multiple events and initiatives aimed at engaging children in physical activities such as bicycling and promoting healthy lifestyle practices among them.”

Campaigns and bicycle training programs for children

Many schools and organizations across the globe are conducting different training programs to encourage more children to take up cycling as a regular activity. British Cycling is the government body responsible for cycle racing in the UK. The Bikeability cycle training program conducted by British Cycling for school-aged children is one such course, which teaches children the essential skills required to ride their bicycles on the road. Since its inception in 2007, the Bikeability program has trained over 1.8 million school children. In Ireland, a cycle training program meant for school children will be launched in 2016, as part of the National Cycle Policy. Let's Ride, a six-week after-school program, designed by Cycling Australia has been gaining considerable popularity in the country and instructs children in safe cycle riding. The "Rap i trafikken", a two-week campaign held in Odense, Denmark, in September 2015, was able to gain the participation of 850 children. The "Bike to School" is an annual campaign conducted by the Danish Cyclists' Federation that adds thousands of new children cyclists on the school routes every year. These and other similar initiatives have been key to market growth in the last few years.

Growing online market

The online retail of children’s bicycles has been growing in recent years, primarily because of the emergence of off-price retailing on this platform. This platform also provides customers a multi-brand environment, and allows for comparison of product features and prices, enabling better-informed buying decisions. The growing number of online shopping websites also allows vendors to have an extended potential consumer base.

“Amazon, Argos, Cyclingdeal.com, Evans cycles, Kettlerusa.com, and Tesco are some examples of online portals providing children’s bicycles. The rising number of the Internet users worldwide and their growing familiarity with online transaction methods further add to the strengthening of the online channel,” says Brijesh.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio analysts forecast the global children bicycle market to grow at a CAGR of 2.31% during the forecast period, according to their latest report.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com