Menswear Market Analysis

Global Menswear Market Overview

Menswear Market Size was valued at USD 575.1 billion in 2023. The Menswear Industry is projected to grow from USD 610.75 billion in 2024 to USD 988.24 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.20% during the forecast period (2024 - 2032). Growing fashion concerns among men and the expansion of e-commerce have contributed are the key market drivers propelling the market growth.


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Menswear Market Trends

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  The growing obese population is driving the market growth

  
  

Today's men are extremely fashion- and appearance-conscious. The global fashion and apparel consciousness is growing. There is a different outfit for every occasion for men today. The proliferation of e-commerce websites is driving the market, the affordability of apparel, and the growing buying power of consumers. Market participants employ various strategies to attract consumers, such as offering promotional discounts, employing celebrities in their advertisements, and holding holiday sales. Consumers' adoption of a luxury lifestyle has influenced the purchasing power of millennials to choose luxury apparel. People typically invest in fashion apparel, celebration attire, and even sleepwear. Rapid development and increasing urbanization produce a modern consumer class with more disposable income who develop a growing passion for contemporary fashion. Menswear is experiencing an increase in the demand for occasion-specific apparel. Long-term market CAGR is anticipated to be driven by the digitalization of online shopping applications, men's increased purchasing power, and their growing awareness of clothing.

Increased exposure to the Internet and e-commerce has increased fashion awareness and the availability of luxury brands and unique items. Due to rising purchasing power in burgeoning economies such as China and India, companies have shifted their focus to men's apparel in recent years. In the coming years, the increasing influence of the media and advertising strategies adopted by e-commerce platforms, such as endorsements from famous people, promotional discounts, and holiday sales, is anticipated to fuel the market's expansion. Moreover, as the number of Internet users has increased, so have the number of online transactions and the average quantity of money spent online. Due to online retail's ease, convenience, and time-saving benefits, users are willing to purchase products immediately. Numerous luxury brands are establishing partnerships with technology firms to improve consumers' shopping experiences. Thus, such factors are contributing to the menswear market revenue.

Menswear Market Segment Insights

Menswear Type Insights

The Menswear Market segmentation, based on type, includes trousers, denims, shirts and t-shirts, ethnic wear, and others. The others segment dominated the market, accounting for 35% of market revenue. The growing health consciousness of the working-class population and the expanding use of athletic apparel among adults are expected to impact market growth positively. In addition, one of the most significant market trends is the increasing importance of high-tech apparel augmented with polymer composite materials.

Menswear Season Insights

The Menswear Market segmentation, based on season, includes summer wear, winter wear, and all-season wear. The all-season wear category generated the most income in 2022. As consumers are now becoming more fashionable, they are also keener on owing clothes that are comfortable and can be worn all year.

Figure 1: Menswear Market, by Season, 2022 & 2032 (USD billion)Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Menswear Distribution Channel Insights

Based on distribution channel, the Menswear Market data includes supermarkets and hypermarkets, exclusive stores, multi-brand retail outlets, online stores, and others. The supermarkets and hypermarkets category generated the most income in 2022. The availability of prestige brands and one-of-a-kind items has increased due to the expansion of the Internet and e-commerce. As more people utilize the Internet, online transactions and the average money spent there continue to rise. Due to the benefits of simplicity, convenience, and time savings online retail offers, consumers are eager to purchase immediately.

Menswear Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American menswear market area will dominate this market.  The market is expanding due to increasing demand for luxury goods, robust purchasing power, and celebrity endorsements. To gain traction with offline businesses, retailers in the region are implementing digital marketing displays and payments to enhance the in-store experience. Due to the robust economic expansion and the digital revolution, the region will be the next significant market for menswear during the forecast period.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: MENSWEAR MARKET SHARE BY REGION 2022 (%)Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe menswear market accounts for the second-largest market share. Numerous domestic producers have offered international-quality products at reduced prices, propelling market expansion in Germany. Germany's market is expanding due to increased offline and online participation, low labor costs, simple access to raw materials, and multiple government efforts. Further, the German menswear market held the largest market share, and the UK menswear market was the fastest growing market in the European region.

The Asia-Pacific menswear Market is expected to grow at the fastest CAGR from 2023 to 2032. China and India have experienced significant growth in their menswear industries in recent years. This is because masculine consumers prioritize quality and fashion, purchasing high-quality garments. Actors and fashion models have a significant influence on today's youth. They desire versatile and fashionable attire. There are numerous festivals in India for which males require unique attire. To improve the quality and fashion of menswear, Indian firms are forming alliances with well-known designers. Moreover, the Chinese menswear market is driven by the rapid development of China's economy, the increasing purchasing power of China's urban middle-class consumers, brand awareness, and demand for high-quality apparel. Due to rising consumer acceptance of the Internet as an alternative shopping channel, the future of online shopping for males will continue to expand. Moreover, China’s menswear market held the largest market share, and the Indian menswear market was the fastest growing market in the Asia-Pacific region.

Menswear Key Market Players & Competitive Insights

The menswear market is extremely competitive. Each of these competitors employs novel marketing strategies to increase the market value of their products. To extend their portfolios, companies are adopting market development strategies. Some companies are forming mergers and acquisitions with foreign and local brands in the region.

As the global menswear industry for men's clothing expands, it is anticipated that all of these companies will continue to compete. Major players in the menswear market include Adidas AG, Burberry Group Plc, Gap Inc, Giorgio Armani S.p.A, H&M Hennes & Mauritz AB, Kering S.A., Levi Strauss & Co., Nike Inc., Prada S.p.A., PVH Corp., Ralph Lauren Corporation and Zara S.A. (Industria de Diseño Textil, S.A.).

Adidas AG designs manufactures, and markets athletic and sporting goods. The company offers footwear, apparel, and accessories such as bags, sunglasses, fitness apparatus, and balls. The company distributes and sells its merchandise via own-brand stores, retail stores, wholesale stores, sporting goods chains, purchasing groups, department stores, e-retailers, lifestyle retail chains, and franchise stores. In addition, it markets its products via e-commerce platforms and mobile purchasing applications. Adidas sells its products under the brand name Adidas. It also operates several product franchises. The corporation conducts business throughout the Americas, Europe, Africa, Asia-Pacific, and the Middle East.

Burberry Group plc produces, sells, distributes, and markets luxury products. The company sells accessories, men's and women's apparel, children's clothing, cosmetic products, and other items. In addition, the store offers eyeglasses, watches, leather goods, purses, and beauty products. The company markets these items under the brand name Burberry. It manages its business operations through Burberry mainline stores, concessions stores, digital commerce platforms, franchisees, outlets, department stores, multi-brand specialty account stores, and a global network of retail, wholesale, and licensing channels. It also maintains manufacturing facilities in the United Kingdom and Italy. Burberry Group additionally sells these items on burberry.com. The company is in the Asia-Pacific, Middle East, Europe, India, Africa (EMEIA), and Americas regions.

• Adidas AG


• Burberry Group Plc


• Gap Inc


• Giorgio Armani S.p.A


• H&M Hennes & Mauritz AB


• Kering S.A.


• Levi Strauss & Co.


• Nike Inc.


• Prada S.p.A.


• PVH Corp.


• Ralph Lauren Corporation


• Zara S.A. (Industria de Diseño Textil, S.A.)

Menswear Industry Developments

March 2024: The UK fashion brand Next's distribution and management rights were acquired by the e-commerce behemoth Myntra. By doing agreement, Myntra gains the authority to open branded storefronts for the fashion retailer Next in India and to distribute its items.

October 2023: The launch of Skims Men’s was introduced by Kim Kardashian's company Skims with an All Star commercial featuring football superstar Neymar Jr., 2022 NFL Defensive Player of the Year Nick Bosa, and NBA All-Star Shai Gilgeous-Alexander. Cozy tanks and shirts, silky boxers, and finely crafted briefs are all part of the collection.

August 2022: A limited-edition denim collection inspired by circular fashion was released by H&M. The collection is the first to be made with eco-friendly materials, such as Circulose Viscose and TENCEL Lyocell with REFIBRA technology. The collection includes four pairs of loose-fitting five-pocket trousers, two oversized button-down shirts, one oversized workwear jacket, and one hooded zip jacket, all in muted indigo hues with a stonewashed finish.

July 2022: Gap Inc. partnered with India's largest retailer, Reliance Retail Limited, to launch in India. With this partnership, Reliance began offering Gap's most recent men's, women's, and children's fashions to Indian customers.

Menswear Market Segmentation

Menswear Type Outlook

• Trousers


• Denims


• Shirts and T-Shirts


• Ethnic Wear


• Others

Menswear Season Outlook

• Summer Wear


• Winter Wear


• All-Season Wear

Menswear Distribution Channel Outlook

• Supermarkets and Hypermarkets


• Exclusive Stores


• Multi-Brand Retail Outlets


• Online Stores


• Others

Menswear Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America