• US: +1-408-610-2300
  • Toll Free: +1-866-831-4085
  • Login / Register
  • Home
  • » Consumer Goods
  • » Men’s Wear Market Size, Share, 2019-2025 | Industry Trends Report
Men’s Wear Market Size, Share, 2019-2025 | Industry Trends Report

Men’s Wear Market Analysis Report By Product, By Distribution Channel, By Region And Segment Forecasts From 2019 To 2025

Report ID: MN17619487  |  Published: April 2020  |  No of Pages: 80
Format: Electronic (PDF)  |  Industry: Consumer Goods  |  Publisher: Grand View Research

Industry Insights

The global men’s wear market size was accounted for USD 483.0 billion, in the year 2018. It is estimated to grow at a CAGR of 6.3% from 2019 to 2025. Millennials’ inclination towards staying update with latest trend in fashion is providing an opportunity for manufacturers to introduce new variants of products attributing to the market growth. Male shoppers concentrate more on style and quality, willing to pay a higher price for better quality.

The penetration of the internet and online retail has contributed significantly to the growth of premium brands and rare grooming products. Factors such as increasing per capita income and changing fashion in developing countries such as India and China have resulted in the growth of men’s wear market. Key players such as Burberry, Armani, Peter England and Ralph Lauren are focusing on the introduction of new men’s wear products. The accessibility of a variety of patterns and designs of men’s wear is boosting the growth of men’s fashion in the global market.

U.S. men’s wear market

The market comprises of several fashionable products from leading brands such as Sean Combs, Tom Fords and Michael Kors. Customers are becoming more fashion conscious resulting in the growth of omnichannel sales. Key players are using more omnichannel routes to sell their products.

The men’s fashion is driven by various fashion shows conducted across London, Barcelona, Paris, Berlin, Milan and New York. These fashion shows feature latest trends and new designs owing to gaining popularity and publicity among men. Moreover, fashion is also influenced by various magazines like Men’s Vogue, Nylon Guys, Fantastic Man and ZQ featuring celebrities, thereby supplementing the growth of clothing and fashion. The arrival of various e-commerce retails such as Myntra, Mr. Voonik and others offer a wide range of fashionable men apparel also contributing to the market growth.

Product Insights

The clothing/apparel led the market by occupying 44.7% of the market share, in 2018. This product consists of various categories such as sportswear, ethnic wear, innerwear, upper wear, sleepwear and lower wear. The upper wear category includes coats, vests, t-shirts, jumpers, hoodies, jerseys, pullovers, jackets, cardigans, polos, shirts and thermals.

Lower wear consists of shorts, tights, cargos, jeans, trousers, and three-fourths. The growing concerns for health among the working population and increasing use of sportswear among adults is projected to supplement the market growth. Moreover, the growing popularity of advanced protective apparel made up of polyester materials with Spandex composed in it is anticipated to further boost the product demand.

The accessories division is projected to grow fastest in the coming years. Millennials are the major customers for luxury and premium products offered by leading brands like Armani. Various geopolitical crises and economic up heals have affected the market for premium bags, purses watches and belts. To keep up with the trend, men are ready to purchase high-quality and branded products thereby, accelerating the growth of the accessories market.

Distribution Channel Insights

Offline channel dominated the market with a share of 83.3%, in 2018. Most customers especially millennial prefer shopping from the offline channel because of the availability of a large number of shops selling branded products and the option of selecting the best fit from one-time purchase. Further, various offers such as easy return options, easy availability and seasonal clearance sale are encouraging customers to shop from these channels.

Global men’s wear market

The online channel is projected to grow significantly over the forecast period. The online distribution channels offer products following the latest fashion, premium brands, apparel vogues and others. These vogues are cost-effective along with lucrative discounts. Also, many online retailers have partnered with several banks offering extra discounts, different payment options and cash back on using their payment modes. Consumers can easily get products at a discounted price directly at their doorsteps. This has promoted banks along with e-commerce portals resulting in supplementing the overall sales of the products.

Regional Insights

North America led the market, in 2018 owing to customers having a high per capita income than other regions. Further, there is high competition among several key players such as Calvin Klein, Hollister, Ralph Lauren, and Tommy Hilfiger in the U.S. This has resulted in creating a competitive global market in this region.

Asia Pacific is projected to grow with a CAGR of 6.6% over the forecast period. The market growth is attributed to the growing operations of various online and offline players in the women’s wear market. The regional market also witnessed the availability of duplicate products of premium brands produced by Korean and Chinese manufacturers. This factor is driving product sales in the regional market.

Men’s Wear Market Share Insights

Leading players in this industry include Guccio Gucci S.p.A.; Nike, Inc.; Adidas Group; LACOSTE; Gianni Versace S.r.l.; HUGO BOSS; Tommy Hilfiger, LLC; LEVI STRAUSS & CO.; RALPH LAUREN MEDIA LLC; Raymond Group; and Calvin Klein. The growing use of omni-channels by the leading players is proliferating the market growth. New trends such as ‘formals’ or ‘smart casuals’ are becoming popular among common men.

Several factors such as celebrity endorsements, reality shows, series, soaps, fashion magazines and specific characters from movies are often showcasing certain new dressing patterns influencing the fashion adopted by common men. Further, the celebrities are endorsing specific looks for different venues such as gym look, vacation look and airport look. 

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2015 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Billion & CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America & MEA

Country scope

U.S., U.K., Germany, India, China, Japan, Brazil, and UAE

Report coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

15% free customization scope (equivalent to 5 analysts working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global men’s wear market report on the basis of product, distribution channel, and region:

• Product Outlook (Revenue, USD Billion, 2015 - 2025)
    • Clothing/Apparel
    • Accessories
    • Footwear

• Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
    • Online
    • Offline

• Regional Outlook (Revenue, USD Billion, 2015 - 2025)
    • North America
        • U.S.
    • Europe
        • Germany
        • U.K.
    • Asia Pacific
        • China
        • India
        • Japan
    • Central & South America
        • Brazil
    • Middle East & Africa (MEA)
        • UAE

What questions do you have? Get quick response from our industry experts. Request More information
Key questions answered in the report include
key questions
We also offers customization on reports based on specific client requirement.
Request for Customization

Choose License Type

Research Assistance

Ryan Manuel
Ryan Manuel

Research Support Specialist, USA

  1. Phone: +1-408-610-2300
  2. Toll Free: +1-866-831-4085
  3. Email: [email protected]
  • World's largest premium report database
  • Transparent pre & post sale customer engagement model
  • Unparalleled flexibility in terms of rendering services
  • Safe & secure web experience
  • 24*5 Research support service
  • 100% Secure Payments
  • Our Promise
  • 100% Service Assurance
  • Market Monitoring
  • Service Flexibility
  • 24X5 Care available