USD 560.2 billion
Report ID: SQMIG25K2063 | Region: Global | Published Date: June, 2023 | Pages: 157 | Tables: 61 | Figures: 75
Men’s Wear Market size was valued at USD 560.2 billion in 2021 and is poised to grow from USD 594.26 billion in 2022 to USD 952.89 billion by 2030, growing at a CAGR of 6.08% in the forecast period (2023-2030).
Menswear is generally made of structured and durable fabrics with neutral colors and more subdued embellishments as compared to women’s apparel. It is available in a wide variety, ranging from sportswear, winter wear and nightwear to casuals, formals and ethnic. One of the recent trends in the industry is the rising demand for customization and tailored clothing. With the rising fashion-consciousness and increasing importance of personal appearance among men, the demand for menswear is escalating across the globe. Besides this, the significant growth in the e-commerce industry and an increase in their purchasing power have prompted the male population to spend more on clothing. This has also encouraged them to purchase clothes through online shopping platforms as they offer convenience, save time, and provide numerous options. Furthermore, with the growing environmental consciousness, several leading brands have introduced ecological clothing made from organic materials as opposed to synthetic fabrics that can cause skin allergies.
Moreover, many premium brands, like Ralph Lauren, Burberry, and Armani, are focusing on expanding their product portfolio by launching specialized menswear sections. Other factors, such as the rising influence of social media and the aggressive marketing strategies, including celebrity endorsements, festive sales and promotional discounts, adopted by the manufacturers, are also driving the market growth.
US Men’s Wear Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 560.2 billion
To get more reports on the above market click here to Buy The Report
Men’s wear Market has been segmented based on Product Type, Distribution Channel, and region. Based on product type, the market is further sub-segmented into Clothing/Apparel, Accessories, and Footwear. On the basis of distribution channel, the Men’s Wear Market is further sub-segmented into offline and online. Based on region, the Men’s Wear Market is segmented into North America, Latin America, Europe, Asia Pacific, and MEA.
Men’s Wear Market Analysis by Product Type
The largest share belonged to the clothes and apparel sector. This product category includes outerwear, innerwear, sleepwear, sportswear, activewear, and ethnic clothing. Jackets, coats, blazers, suits, vests, shirts, polo shirts, jumpers, cardigans, hoodies, sweatshirts, jerseys, tanks, thermals, and pullovers are examples of upper clothing. Trousers, shorts, jeans, pants, tights, three-quarters, and cargos are examples of lower clothing. Increasing adult use of sports apparel as a result of rising working-class health consciousness is anticipated to positively affect the growth of the men's wear market.
Men’s Wear Market Analysis by Distribution channel
Due to exposure and accessibility to the greatest number of consumers, offline distribution channels made up the largest portion of the market. Online clothing purchases are uncomfortable for a particular segment of the population. Moreover, rapid availability and seasonal clearance prices can entice customers to this distribution channel. The availability of the newest trends, rarest brands, and most sought-after clothing fads at the most convenient price, coupled with the biggest discounts, is expected to drive considerable growth in the online distribution channel in the upcoming years.
To get detailed analysis on other segments, Request For Sample Report
Due to its larger buying power parity than other regions, North America had the greatest market share in 2021. In addition, the U.S. market is home to a huge number of brands, including Ralph Lauren, Calvin Klein, Tommy Hilfiger, and Hollister. As a result, the global market has strong roots in the area and has a significant impact on the entire world.
Asia-Pacific to experience Robust Growth in the Menswear Market, the menswear industry witnessed significant growth in recent years in China and India. This is because male shoppers tend to focus on quality and style, purchasing high-quality garments. India has most of a young population, about 65% below 35 years of age, stimulating the menswear market. The rapid growth of China’s economy, increasing purchasing power among China’s urban middle-class customers, brand awareness, and demand for apparel quality drive the Chinese menswear market. The future of online shopping for men will continue to grow, owing to an increase in consumer acceptance of the internet as an alternative shopping channel; given this fact, the menswear market will increasingly become competitive.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Men’s Wear Market Drivers
Social Media Influence to Bolster Market Growth
Men’s Wear Market Restraints
Trade Tariffs to Hinder Market Growth
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
The Men’s wear market is highly competitive and most of the companies have vast distribution channels across regions and are fully integrated across the chain. Companies compete among themselves by aggressive pricing strategy, to gain a higher market share. They also focus on developing new products with the absorption of new technology and refining its produced products to sustain in the competition and to gain higher market shares among the competition. Along with product innovations, players are aiming at strategic partnerships with regional players to strengthen regional footprint in the market.
Men’s Wear Market Top Player’s Company Profiles
Men’s Wear Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Men’s wear market analysis, the adoption of a luxury lifestyle among consumers has influenced the purchasing power to opt for luxury wear among millennials. People tend to spend on fashion wear, party wear, and even nightwear. Rapid growth and rising urbanization lead to a modern class of consumers with more money to spend that develop a growing passion for current fashion. The demand for occasion-specific clothing is growing within the menswear segment. A boosted exposure to the internet and e-commerce has improved the fashion consciousness and availability of high-end brands and rare products. Over the past few years, the companies have been targeting men’s wear due to growing purchasing power in emerging economies, including China and India. The rising influence of media and marketing strategies adopted by e-commerce platforms such as celebrity endorsements, promotional discounts, and festive sales are anticipated to fuel the market's growth in the coming years.
|Market size value in 2021||USD 560.2 billion|
|Market size value in 2030||USD 594.26 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
Free report customization with purchase. Customization includes:-
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Men’s Wear Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Men’s Wear Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Men’s Wear Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Men’s Wear Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "
- Mr. Ali Zali, Commercial Director, ICIIC Iran.