Menswear Market Size, Share, Growth, and Industry Analysis, By Type (Top Wear, Bottom Wear, Sports & Active Wear, Intimates & Sleepwear, Footwear, and Accessories), By Application (Online and Offline), and Regional Insights and Forecast to 2032

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MENSWEAR MARKET OVERVIEW

The global Menswear market size valued at approximately USD 577.44 billion in 2024 and is expected to reach USD 750 billion by 2032, growing at a compound annual growth rate (CAGR) of about 3.33% from 2024 to 2032

Men's fashion is normally designed with functional and long-lasting simple and plain fabrics, simpler product decoration, and less bright and neutral colors on most occasions as compared to women's fashion. They are available in a large range of products from sportswear to winter wear and nightwear to casual wear, formal wear, and ethnic wear. Another modern tendency, which can be observed in the industry is the trend towards more customization and, therefore, bespoke clothes. Due to changes in demography, male fashion consciousness, and the ability of men to give value to their appearances, the demand restraint in menswear is increasing globally.

Apart from this, the growth of the population using electronic commerce and an improvement in their standards of living, have influenced males to spend more on clothing than before. This has also made them buy clothes through online stores since they are easy to use, time-saving and they avail many choices. Moreover, following the new trend of environmentalism as a result of the rising skin allergies caused by synthetic fabrics; several renowned companies have started producing ecological clothing from organic clothes.

COVID-19 IMPACT

"Menswear Industry Had a Negative Effect Due to supply chain disruption during COVID-19 Pandemic"

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

The global market of menswear has significantly changed due to the COVID-19 pandemic. With the lockdowns and remote work, a shift from formals happened and everyone embraced comfy clothes – from loungewear to athleisure. Companies learned to overcome the problem with the help of e-commerce, virtual fashion shows, and the direct-to-consumer model. However the pandemic affected supply systems which in turn affected the production and distribution processes. The emphasis was made on the aspects of sustainability and ethical management, and clients paid attention to the products from companies that matched their belief systems.

LATEST TREND

"The Emergence of the New Male Power Shopper Drives Market Growth"

The Emergence of The New Male Power Shopper, men are a new breed of more interested and even dominating the shopping markets both online and offline. To the extent of out casting every single cliché that has recently dominated society, the millennial generation has done it. Millions of consumers can be categorized as hedonistic or utilitarian consumers. The emergence of e-commerce was an important reason for the creation of this trend. Moreover, the issue can benefit from the positive changes in the purchasing power of men across the globe. These reasons are the main causes that make most companies focus on male marketers while marketing and developing products.

MENSWEAR MARKET SEGMENTATION

By Type

Based on Type, the global market can be categorized into Top Wear, Bottom Wear, Sports & Active Wear, Intimates & Sleepwear, Footwear, and Accessories

• Top Wear: It ranges from a wide variety of tops: t-shirts, dress shirts, polo shirts, sweaters, jackets, and hoodies. In general, any man has a base and a very large portion of his wardrobe to wear under the upper garments on casual or special occasions.

• Bottom Wear: This segmentcoversall thegarmentsworn on the lower body.Itincludespants,such asjeansandchinos, dress pants, shorts, and skirts. This segment isessentialforcomfort and style.Itcanbeused to covervarious activities andtypes ofweather.

• Sports & Active Wear: This part caters to the wear of apparel dedicated strictly for athletic purposes and workouts. These can include sportswear tracksuits, running shoes, as well as other performance wear of the latest moisture-wicking technologies. This part is pushed forward by the increased trend for fitness and active living.

• Intimates & Sleepwear: Underwear, socks, and loungewear can also be noted, for example, are devoted more towards comfort and rest rather than daily wear. Such also includes sleepwear which ranges from pajamas and nightwear.

• Footwear: Allofthisfallsunderfootwear,whichincludescasual shoes, sneakers, boots, andotherformal shoes. Ithelpssignificantlyconcerningstyle and functionalityastheyareprovided withdifferentvarietiesfor various eventsandengagements.

• Accessories: This category covers a comprehensive line of accessories that add variety and complete the outfit. Such accessories include belts, hats, scarves, jewelry, and sunglasses.

By Application

Based on application, the global market can be categorized into Online and Offline

• Online:The online menswear market has experienced significant growth, attributed to the convenience and accessibility of shopping online. Consumers can browse through a wide selection of products, compare prices, and make purchases from the comfort of their homes.

• Offline:The offline menswear market also commands the highest share. This market comprises of physically available stores for those who feel the need to experience touch-and-feel moments with garments before making any purchases.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities, and challenges stating the market conditions.

Driving Factors

"Social Media Influence to Bolster Market Growth"

A factor in the Menswear market growth is the increase in the use of social media is expected to drive the apparel market. By their status update news feeds, and tweets, influencers, and fashion icons on social media let users know of the latest fashions and other elements of fashion. These people then buy stuff from social media. Instagram is an American social networking service that recently integrated a feature into their application that allows creators to sell items within the app hence allowing influencers to find their customers and advertise their products using the app Global men’s market growth will be positively impacted by new integrated product offerings and social media.

"The Growing Popularity of Athleisure Wear and the Emphasis on Comfort Expand the Market"

The new market segment of athleisure has greatly contributed to the growth of the international menswear sector. The consumer knowledge is also shifting towards preferring comfort and wearing functionality for casual wear thus the distinction between athletic wear and casual wear gets obscured. This trend has increased the consumption of quality and fashionable pieces such as joggers, hoodies, sneakers, and a few other wears that can fit well into everyday wear and heightened formal occasions. Therefore, menswear products are current trends and adapting to this trend by including sportswear aspects which present a broader variety of comfortable and suitable styles for contemporary men.

Restraining Factor

"Trade Tariffs Potentially Impede Market Growth"

Pure free trade which called for unrestricted trade is increasingly facing restraints to enhance their domestic economies by many industrialized and developing economies. The American administration is also taking a relatively protectionist stance, a point mutually beneficial for both the economy and the workers evidenced by the alterations made to the NAFTA deal that the US has with Mexico and Canada apart from the increase in duty on production from China. These changes may lead to a huge trade war that reverses the current liberalization of global trade. It would have implications for the growth of the men’s market.

Opportunity

"Personalization and Customization Create Opportunity in the Market"

The global menswear market is full of opportunities for brands that embrace personalization and customization. Brands can create deeper connections with male consumers by offering tailored experiences through bespoke tailoring, personalized styling recommendations, and the option to customize products with features such as monograms or color choices. This form of individual attention not only maximizes customer satisfaction but also differentiates brands in the competitive market. By catering to individual preferences and needs, brands can build stronger customer loyalty, increase brand advocacy, and ultimately drive significant revenue growth within the menswear sector. The rapidly evolving consumer preferences are a challenge for menswear consumers.

Challenge

"Changing Consumer Preferences Could Be a Potential Challenge for Consumers"

Fast fashion, which focuses on trends that are here today and gone tomorrow and disposable clothing, promotes impulse buying and leads to overconsumption. It adds up to an incalculable mess of gathering unnecessary items, which get obsolete in no time, and ultimately become contributors to environmental problems, such as waste from textiles. Furthermore, the stress of having to keep up with changing trends can be very expensive and highly taxing on one's emotions, making one feel inadequate and unhappy about their wardrobe.

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MENSWEAR MARKET REGIONAL INSIGHTS

• North America

In North America, leading brands dominate the menswear market, focusing primarily on casual and sportswear. The key trends here have been athleisure, sustainable and eco-friendly products, growing interest in personalized and customized clothing options, and e-commerce driving growth since online platforms are offering customers convenience and access to more than one brand and style at a time. The United States Menswear Market has its regional trends highly divergent. Coastal cities, New York and Los Angeles epitomize the latest styles with an embracing of global influence, while Southern regions remain more traditional and comfortable in their wear. Midwestern markets tend to be more pragmatic with functionality and value, placing focus on workwear and outerwear.

• Europe

European menswear markets have a great diversity in terms of style and the fashion-forward nature of styles. Luxury brands and designers, particularly high-end designers, make a significant impact in serving this discerning clientele. Sustainability and ethical production considerations are growing factors in the minds of consumers within Europe. The markets are also known for their concentration on craftsmanship and traditional tailoring.

• Asia

Asia-Pacific to Witness Stupendous Growth in the Menswear Market, the menswear industry, however, gained tremendous growth in the past years in China and India. This is because male shoppers tend to look for quality and style, buying more high-quality garments. India has most of its young population 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.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market Through Innovation and Market Expansion"

The firms are participating in the global menswear market through new trend innovator strategies. Luxury brands push the trends with high fashion designs and exclusive collections. Fast-fashion giants cater to affordable trendy clothing. E-commerce platforms revolutionize the shopping experience through personalized recommendations and ease of online shopping. Moreover, sustainable brands are gaining ground by emphasizing eco-friendly materials and ethical production practices, which appeal to the growing consumer consciousness. These players, through their diverse approaches, are constantly evolving the menswear landscape and influencing consumer preferences.

List of Top Menswear Companies

• Gap (U.S.)
• H&M (Sweden)
• Inditex (Zara) (Spain)
• Kering (France)
• LVMH (Paris)
• Nike (U.S.)
• PVH (U.S.)
• Adidas (Germany)
• Burberry (U.K.)
• Hermès (France)
• Michael Kors (U.S.)

KEY INDUSTRY DEVELOPMENT

March 2024: Zegna Group's "quiet luxury" Zegna menswear products saw a 20% increase, reaching $1.2 billion across its brand portfolio. The US-based Thom Browne brand, renowned for its contemporary take on tailored work attire, achieved a 15% growth, reaching $409 million. Additionally, the recently acquired Tom Ford Fashion brand contributed $255 million to the company's revenue, including $105 million in the fourth quarter.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The Menswear market is poised for a continued boom pushed by The Emergence of the New Male Power Shopper, the Social Media Influence, and The Growing Popularity of Athleisure Wear and the Emphasis on Comfort. Despite challenges, which include Changing Consumer Preferences, the demand for Personalization and Customization supports marketplace expansion. Key industry players are advancing via technological upgrades and strategic marketplace growth, enhancing the supply and attraction of Menswear.