Menswear Market Analysis By Product (Trousers, Denims, Shirts & T-shirts, Ethnic Wear, Sportswear), By Season (Summer Wear, Winter Wear, All-season Wear), By Distribution Channel (Supermarkets/Hypermarkets, Exclusive Stores, Online Retail Stores) & Region - Global Market Insights 2023 to 2033
Analysis of Menswear Market Covering 30 + Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Menswear Market Outlook (2023-2033)
Expanding at a CAGR of 5.7%, the global menswear market is expected to increase from a valuation of US$ 545 billion in 2023 to US$ 950 billion by the end of 2033. Demand for sportswear is predicted to rise the fastest through 2033. Manufacturers of sportswear are focusing on clothing with water-absorbing qualities that help physical movements made while participating in a sport.
Menswear is usually comprised of rigid, robust fabrics in neutral hues with subtler decorations compared to womenswear. It comes in a wide range of styles. The growing interest in personalized and customized apparel is one of the most current developments in the sector.
The market is projected to expand on the back of the growing desire of men to look fashionable. The global market could benefit from improving the disposable income of consumers which may play a part in increasing the sales of products. In some parts of the world, men have become metrosexual due to the influence of various urban trends.
Men are observed to spend immensely on party and luxury wear, not to mention sleepwear, which provides a push to the growth of the global menswear market. The demand for menswear is expanding all over the world due to men's growing fashion consciousness and emphasis on personal appearance.
Many well-known brands now provide environmentally friendly clothing produced from organic materials rather than synthetic fabrics that might contribute to skin sensitivities as a result of the growing environmental consciousness. In addition, a lot of luxury labels are concentrating on diversifying their product offerings by establishing dedicated menswear divisions.
The industry is also growing as a result of other factors such as the expanding social media influence and the manufacturers' aggressive marketing tactics, which include celebrity endorsements, holiday sales, and promotional discounts.
The ability of millennials to buy luxury clothing has been influenced by the adoption of a premium lifestyle by consumers. People routinely invest money in trendy apparel, nightwear, and party wear. Growing urbanization and a modern class of consumers with more disposable income fuel a rising demand for current clothing. The need for clothing for specific events in the menswear sector is rising.
The industry is benefiting from innovative designs, desirable fashion options, and effective marketing techniques. The availability of high-end brands and limited edition goods has improved with customers' increased exposure to the internet and e-Commerce.
Utilizing influencers has changed how beauty businesses sell their goods and attempt to boost sales. As consumers steadily grew more at ease making wardrobe purchases from their computers and portable devices, online garment sales have seen a growth in recent years.
Rising demand for clothing with a reflective finish has also increased the opportunity for industry participants to prosper. Additionally, rising demand for graphic T-shirts and other clothing due to changing fashion trends will raise sales of the product throughout the projection period. Demand for menswear is being driven by the rise in the global appeal of branded apparel among consumers and the growing trend of luxury clothing as a status symbol among people.
Menswear Market Size (2023)
US$ 545 Billion
Projected Market Value (2033)
US$ 950 Billion
Global Market Growth Rate (2023-2033)
Market Share of Sportswear
Key Companies Profiled
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What is Stimulating Worldwide Demand for Menswear?
“Celebrity Endorsements for Brand Promotion to Spur Sales of Menswear”
Fashion and clothing habits are greatly influenced by how celebrities appear in media, including movies, television, news, magazines, posters, and talk shows. By wearing the newest trends, celebrities influence fashion as well as set new trends. Their outward displays at red carpet occasions, film premieres, and terminals all have a significant fashion influence. New fashion trends have regularly been established as a result.
Growing sales of formal and casual apparel may also contribute to the growth of the global market. It is anticipated that celebrity endorsements will significantly contribute to drawing attention to the sector. These are assisting consumers in learning about the most recent fashion trends, high-end fashion labels, and fresh products available in the market.
Manufacturers have seen an increase in sales of their premium items thanks to endorsements. Due to the high demand for goods caused by their populations' increasing size, emerging regions are predicted to gain ground in the worldwide market for men's clothing.
Social media has grown to be a crucial medium for businesses and celebrities to adopt a new image. All of the aforementioned factors have an impact on men's acceptance of apparel accessories.
How Can Sales of Menswear Be Adversely Affected?
“Increasing Sales of Counterfeit Items and Fluctuations in Raw Material Prices”
One of the major obstacles to the worldwide clothing, accessory, and footwear industries is the sale of counterfeit items. Both sales and brand reputations are adversely affected as a result. Some of the biggest counterfeiters are supported by the online market, and they are wreaking significant havoc with their massive supply networks.
Fluctuations in raw material prices and stringent government regulations are hampering market growth. Due to the drastic measures regulatory agencies have taken to reduce pollution, manufacturers now face some limitations.
What Can Start-ups Do to Stand Out in This Industry?
“Emerging Market Players Launching New Products to Meet Consumer Demand”
New entrants are concentrating on tactics such as innovation and new product launches in menswear retail to improve their portfolio offerings in the market.
- A Dutch start-up called LABFRESH is a stain and wrinkle-resistant clothing brand, which offer shirts and ties. Men's clothing is made to resist stains and body odor using nanotechnology. The technology keeps the garment odor-free all day long by preventing sweat stains and body odor.
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Which Region is Considered Profitable for Menswear Distributors?
“Growing Preference for Luxury Products among Consumers in North America”
North America holds 40% share of the global market owing to the new millennial male generation.
The market is expanding as a result of rising consumer demand for luxury products, strong spending power, and celebrity endorsements. Retailers in the region are utilizing technology to improve the in-store experience with digital marketing displays and checkout to gain traction with offline businesses. The region will be the next major potential for menswear over the forecast period due to the robust economic expansion and the digital revolution.
Which Country Leads Revenue Generation in North America?
“Increase in Sports and Outdoor Activities in the U.S.”
The U.S. market is home to a huge number of brands, including Ralph Lauren, Calvin Klein, Tommy Hilfiger, and Hollister.
Due to an increase in sports and outdoor activities among men in the U.S. at least once a year, men's fashion in clothes, footwear, and accessories has seen rapid growth over the past few years. As a result of its industrialization-related growth strategies and developed infrastructure, the U.S. is said to be driving the demand for menswear. Over the projection period, these trends are expected to lead to a significant increase in the market.
Why is Germany a Prominent Market for Menswear?
“Easy Availability of Raw Materials in the Country”
Numerous domestic producers have offered goods of international caliber at lower costs, which is driving market growth in Germany. Increasing number of offline and online participants, cheap labor costs, easy access to raw materials, and various government initiatives are boosting market expansion in Germany.
Why is There High Menswear Demand in Japan?
“High Popularity of Online Shopping in Japan”
The market in Japan is projected to expand rapidly during the forecast period because males tend to focus on quality and style when shopping, choosing high-grade clothing.
The market is driven by the rising middle-class urban consumers' spending power, brand awareness, and desire for high-quality clothing. Men's online shopping will only continue to expand over the coming years as consumers accept the internet as a more viable alternative to traditional retail outlets.
Why is Demand for Sportswear Gaining Ground?
“Sportswear Gaining Traction Owing to Ongoing Shift towards Active Lifestyles”
Based on product, the market is segmented into trousers, denims, shirts & t-shirts, ethnic wear, and sportswear. At present, sportswear accounts for 50% share of the global market.
The working-class population's growing health consciousness and the growing use of sports apparel among adults are both anticipated to positively affect market growth. In addition, one of the key market trends is the expanding significance of high-tech clothing enhanced with polymer composite materials.
Market growth is attributed to the increased desire for luxury and high-end goods among millennials and high-net-worth individuals. Men are willing to spend money on quality and branded products, which is driving market demand. The demand for clothing for recreational activities such as running and cycling also stems from the ongoing shift toward more active lifestyles.
Which Distribution Channel is Likely to Contribute the Most to Market Expansion?
“Online Retail Stores More Preferred Due to Their Convenience and Time-saving Factors”
The market is classified into supermarkets/hypermarkets, exclusive stores, and online retail stores based on the distribution channel.
The availability of luxury brands and unique products has increased thanks to increased internet and e-Commerce exposure. As more people utilize the internet, there is a constant increase in online transactions and the typical amount of money spent there. Consumers are ready to buy right away because of internet retail's benefits of simplicity, convenience, and time savings.
Customers are influenced to purchase online by the greater security features provided by online retailers and the more user-friendly design of shopping websites.
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Top market vendors are now concentrating on social media platforms and online distribution channels for the online marketing and branding of their products to get the attention of as many clients as possible. Major firms are concentrating on utilizing the potential presented by market innovation to broaden their product portfolios and meet the needs of diverse product sectors by supplying distinctive and alluring high-quality products along with more convenient purchasing options.
Active participants' omnichannel marketing has been contributing to the market's expansion favorably. The new styles that are popular with the general populace are "smart casuals" and "formals" for common males.
For instance :
- In 2021, with the launch of its 'Athleticz' collection, which caters to those who enjoy physical activity and exercise, the Zara brand is hoping to make further inroads into this market.
Key Segments of Menswear Industry Research
- Shirts & T-shirts
- Ethnic Wear
- Summer Wear
- Winter Wear
- All-season Wear
By Distribution Channel
- Exclusive Stores
- Online Retail Stores
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- FAQs -
Demand for menswear is predicted to increase at a CAGR of 5.7% through 2033.
Sales of menswear are expected to reach US$ 950 billion by 2033.
LACOSTE, HUGO BOSS, and Raymond Group are key suppliers of menswear.
North America holds 40% share of the global market.
Sportswear is estimated to account for more than 50% share of the global market.