PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1533711
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1533711
Global Men's Underwear Market to Reach US$48.1 Billion by 2030
The global market for Men's Underwear estimated at US$37.3 Billion in the year 2023, is expected to reach US$48.1 Billion by 2030, growing at a CAGR of 3.7% over the analysis period 2023-2030. Men's Boxer Briefs, one of the segments analyzed in the report, is expected to record a 4.5% CAGR and reach US$16.5 Billion by the end of the analysis period. Growth in the Men's Briefs segment is estimated at 3.4% CAGR over the analysis period.
The U.S. Market is Estimated at US$10.2 Billion While China is Forecast to Grow at 7.1% CAGR
The Men's Underwear market in the U.S. is estimated at US$10.2 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$10.2 Billion by the year 2030 trailing a CAGR of 7.1% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.2% and 2.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.0% CAGR.
Men's Underwear - Key Trends and Drivers
Men's underwear has undergone significant evolution over the years, transitioning from basic, functional garments to items of comfort, style, and personal expression. The primary categories of men's underwear include briefs, boxers, boxer briefs, and trunks, each offering varying levels of support, coverage, and comfort. Briefs, known for their snug fit and support, are ideal for active wear and sports. Boxers, characterized by their loose fit, offer maximum breathability and comfort, making them a popular choice for casual, everyday wear. Boxer briefs combine the best of both worlds, providing the support of briefs with the coverage of boxers, while trunks, similar to boxer briefs but shorter in length, have gained popularity for their contemporary style and versatility. Innovations in fabric technology have also played a significant role, with materials like modal, bamboo, and microfibers being used to enhance comfort, moisture-wicking, and breathability.
The market for men's underwear has seen dynamic changes driven by both technological advancements and shifting consumer preferences. Modern designs now incorporate features such as ergonomic pouches for better support, seamless constructions for reduced chafing, and antimicrobial treatments to enhance hygiene. Sustainability has become a crucial aspect, with brands increasingly using eco-friendly materials and ethical production practices. The aesthetic appeal of men's underwear has also seen a transformation, with bold colors, patterns, and designer collaborations making underwear a fashion statement rather than just a necessity. Online retail has revolutionized the way consumers shop for underwear, offering convenience, a broader range of options, and customization, such as personalized fits and styles. Additionally, marketing strategies have evolved, with a focus on inclusivity and body positivity, catering to a diverse range of body types and personal preferences.
The growth in the men's underwear market is driven by several factors. Firstly, the increasing awareness and emphasis on personal grooming and hygiene among men have led to a higher demand for quality underwear. Secondly, advancements in fabric technology, such as the development of moisture-wicking, breathable, and anti-odor materials, have enhanced the functionality and comfort of men's underwear. Thirdly, the rise of e-commerce and direct-to-consumer brands has made premium and niche products more accessible to a wider audience, offering convenience and a personalized shopping experience. Changing lifestyle trends, such as the growing acceptance of athleisure and the blending of casual and formal wear, have also influenced the demand for versatile and stylish underwear. Additionally, the influence of social media and celebrity endorsements has played a significant role in shaping consumer preferences and driving brand loyalty. These factors collectively contribute to the robust growth and innovation within the men's underwear market, making it a dynamic and rapidly evolving segment of the fashion industry.
Select Competitors (Total 35 Featured) -