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What am I missing from this list of trends?
Post-war baby boom drives sales of children's bikes, then 10-speeds -> BMX -> touring -> MTB -> triathlon -> 29ers -> fixies -> fat bikes -> gravel
I would be willing to bet that gravel bikes are going to be popular for a least for more years, because "gravel" bikes aren't really anything new, they're just updated versions of what were called sports touring bikes in the 1980's, and they clearly meet an existing demand for road bikes with a more relaxed riding position.
As for the next big trend that industry is praying for, that's obviously E-bikes because that's where the (potential) money is as the post-war baby boomer generation ages out of more athletic cycling disciplines. But whether E-bikes become trendy is still an open question.
Aside from e-bikes, the next trend is probably something that nobody will see coming, because just like BMX and fixies it won't start until something 'different' gets trendy among young adults.