According to the latest report by IMARC Group, titled "Menswear Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the global menswear market grew at a CAGR of around 6% during 2014-2019. Menswear refers to the clothing that is specifically designed for male consumers. These apparels are primarily manufactured using structured and durable fabrics. They can be made using a variety of materials, including cotton, nylon, polyester, rayon, wool and silk. They are characterized by neutral colors and more subdued embellishments, unlike women’s apparel. Formals, casual, ethnic, sportswear and nightwear are some of the most commonly worn types of clothing. The product category for menswear includes shirts, t-shirts, trousers, denim, sweaters, jerseys, pullovers and sweatshirts.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Menswear Market Trends:
The market is primarily driven by the increasing fashion consciousness among consumers. The growing exposure to social media has resulted in the rising importance of personal appearance among men, which has further led to the growing awareness regarding the availability of rare and high-end brands. There has also been a considerable rise in the demand for customized and tailored clothing, which is creating a positive outlook for the market. Apart from this, the proliferating online retailing portals offering a wide range of products at an attractive price point and flexible payment and return/exchange policies are also driving the market growth. In line with this, strengthened by the widespread penetration of high-speed internet and strong supply chain facilities across the globe, individuals are now increasingly preferring to purchase apparel online. The market is further driven by aggressive promotional activities and marketing campaigns adopted by market vendors, including celebrity endorsements, to increase their sales and strengthen their market position. Moreover, numerous players are also launching ecological clothing made from organic materials due to the enhanced focus on sustainable development. This, along with the introduction of specialized menswear sections by various luxury brands, is providing an impetus to the market growth. Some of the other factors contributing to the market growth include the rising demand for occasion-specific clothing and the inflating disposable income of the masses. On account of the aforementioned factors, the market is anticipated to witness moderate growth during 2020-2025.
- On the basis of the product type, the market has been divided into trousers, denim, shirts and t-shirts, ethnic wear, and others.
- Based on the season, the market has been classified into summer, winter and all-season wear.
- On the basis of the distribution channel, the market has been segmented into supermarkets and hypermarkets, exclusive stores, multi-brand retail outlets, online stores, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Adidas AG, Burberry Group Plc, Gap Inc., Giorgio Armani S.p.A, H & M Hennes & Mauritz GBC AB, Kering S.A., Levi Strauss & Co., Nike, Inc., Prada Group, PVH Corp., Ralph Lauren Corporation, and Zara (Industria de Diseño Textil, S.A.).
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