Men’s Underwear Market Size, Share, Growth Analysis, By Type(Trunks, boxer briefs), By Fabric(Nylon, modal) - Industry Forecast 2024-2031

Men’s Underwear Market size was valued at USD 39.11 billion in 2022 and is poised to grow from USD 41.22 billion in 2023 to USD 62.78 billion by 2031, growing at a CAGR of 5.40% during the forecast period (2024-2031).

Men's Underwear Market is highly competitive and fragmented, with the presence of both established and new players. Major players in the market are focused on product innovation, strategic partnerships, and mergers and acquisitions to gain a competitive edge. Some of the key companies compete based on factors such as product quality, design, pricing, brand image, and distribution channels. The market is expected to witness continued competition in the coming years, with new players entering the market and existing players introducing new products to meet changing consumer preferences. 'Calvin Klein', 'Hanes', 'Jockey', 'Fruit of the Loom', 'Tommy Hilfiger', 'Hugo Boss', 'Emporio Armani', 'Diesel', 'Ralph Lauren', 'Under Armour', 'Puma', 'Saxx', '2(X)IST', 'Andrew Christian', 'Bonds', 'C-IN2', 'Hanro', 'MeUndies', 'Naked', 'Zimmerli', 'In September 2022, Page Industries Ltd, the official licensee of Jockey International Inc., opened a two-story retail flagship store in New Delhi, India. The 2,500 square foot store is divided into dedicated sections for men, women, and kids.', 'In August 2022, Tommy Hilfiger expanded its retail presence by launching a new store in Bonn, Germany. The store, located in a historical building, aims to provide a top-notch in-store experience and offers men's underwear and other accessories.', 'In August 2022, Calvin Klein unveiled its "Autumn 2022" campaign featuring the latest collections of underwear and jeans. The collection is designed for everyday wear and includes a modern style that combines wireless comfort with recycled materials.', 'In April 2022, Hanes brand, Inc. introduced a new line of men's underwear called "X-Temp Total Support Pouch." The underwear features cooling fabric, breathable mesh panels, and quick-drying and moisture-wicking performance.'

A major driver of the Men's Underwear market is the growing awareness about health and hygiene. Men are becoming more conscious of their personal hygiene, and are opting for underwear that offers better moisture management, breathability, and odor control. This trend is particularly evident in emerging economies, where rising disposable incomes and growing urbanization are leading to a greater emphasis on personal hygiene and grooming. As a result, brands are focusing on offering underwear with features such as antimicrobial properties, moisture-wicking fabrics, and ventilation to cater to this demand.

Consumers are increasingly willing to pay a premium for high-quality and comfortable underwear made from premium materials. Brands are responding to this demand by offering premium and luxury men's underwear with features such as moisture-wicking, odor-resistant, and breathable fabrics.

Asia Pacific dominated the market. The high demand can be attributed to the high male population in the region. India and China accounted for a male population of 723 million, respectively in 2021. Together, these countries hold a more than 73.0% regional market share. The India market is expected to grow fastest as many international players such as Jockey, Hanes, and Calvin Klein are increasing their regional presence to cater to the consumer’s demand for comfortable and premium underwear. In addition, the region's growing middle class, rising disposable income, and changing lifestyle preferences have also contributed to the growth of the men's underwear market in Asia Pacific. The increasing number of working professionals and a growing trend of fitness and sports activities have increased the demand for comfortable and high-performance underwear. Moreover, the region's strong manufacturing base and cost advantages have also encouraged many players to establish their regional production facilities, further driving the market growth.