Global Market Study on Men's Underwear: U.S. and Germany to Remain Leading Manufacturing Countries
Men's Underwear Market Segmented By Underwear Market, Inner-wear, Functional Underwear, Premium Underwear, Men's Clothing
The updated men’s underwear industry research by Persistence Market Research predicts the market value to increase approximately 1.8X by the end of 2031, up from US$ 12.5 Bn at present. The market is expected to surge at a healthy CAGR of 6.3% over the decade, according to the men’s underwear market survey. The market in Germany is predicted to progress at a CAGR of 4.5% and the U.K. at 3.8% through 2031.
Find Out More about the Report Coverage
- Hanesbrands Inc.
- Philips-Van Heusen Corporation.
- Ralph Lauren Corporation.
- Jockey International Inc.
- American Eagle Outfitter Inc.
- Iconix Brand Group Inc.
- J.C. Penny Corporation, Inc.
- Berkshire Hathaway Inc.
Key Points Covered in Men’s Underwear Industry Survey:
- Market estimates and forecast 2016-2031
- Key drivers and restraints impacting market growth
- Segment-wise, country-wise, and region-wise analysis
- Competition mapping and benchmarking
- Brand share and market share analysis
- Key product innovations and regulatory climate
- COVID-19 Impact on sales of men’s underwear and how to navigate
- Recommendation on key winning strategies
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Recent Launches in Men’s Underwear
The influence of fashion has substantially changed the clothing industry, and innerwear is no different from this trend, but there have not been any major developments in the innerwear domain for a long time.
This dry run of no developments is about to end, as the market is set to see a new type of underwear.
- Boxerkilt recently announced a new type of underwear for men, which, in place of a restrictive pouch of traditional underwear, has a soft edgeless opening that allows the male genitalia to maintain a wholly natural position and temperature.
- Buttercloth, a premium menswear brand also recently launched its own line of men’s underwear. Buttercloth founder and winner on ABC's Shark Tank, Danh Tran launched this new collection that features the same patented cooling mint fibers that Buttercloth’s Icy Cotton shirt collection was known for.
With such new launches in men’s underwear, we can expect to see a major change in trends over the coming years.
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Undergarments help to avoid soiling of outerwear are generally of two types: upper body and lower body garments, which cover the torso and waist and legs respectively. For undershirt, we include vest, sleeved vest and muscle vest. For briefs, we include regular briefs, trunks and boxer shorts. In winters, long underwear are preferred to provide extra warmth.
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Drivers of the Market
Growing disposable income, preference for branded underwear that offers better fit and comfort are major factors fueling demand for premium underwear, thereby driving the growth of the men’s underwear market. Major trends in the men’s underwear market are increased the adoption rate of functional underwear, consistent investment in branding and marketing and a surge in acquisitions and mergers.
The high degree of competition and unorganized market in developing countries are major factors hampering the growth of the men’s underwear market.
Organized retail penetration and penetration of mono-brands and multi-brand outlets worldwide is driving sales of branded clothing products.
Key Market Players
Key market players covered in this report are Hanesbrands Inc., Philips-Van Heusen Corporation, Ralph Lauren Corporation, Jockey International Inc., American Eagle Outfitter Inc., Iconix Brand Group Inc., J.C. Penny Corporation, Inc. and Berkshire Hathaway Inc.
Major players in men’s underwear market focus on enhancing their global and regional presence through acquisitions and mergers and operational expansion.
Men’s Underwear Market Segmentation:
By distribution channel, the global men’s underwear market is segmented into online and offline channels. Offline is further sub-segmented into a mass merchant, specialty store, mono-brand store and others.
Among all the aforementioned sub-segments, mass merchant sub-segment is expected to dominate the men’s underwear market, accounting for around 1/2 share of the overall market by 2031.