PUBLISHER: Grand View Research | PRODUCT CODE: 1571661
PUBLISHER: Grand View Research | PRODUCT CODE: 1571661
The global men's wear market size is expected to reach USD 725.2 billion by 2030, growing at a CAGR of 4.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. The demand and preference for men's wear are increasing due to several key factors and trends shaping the market. One significant driver is the growing fashion consciousness among men. As societal norms evolve, men are becoming more aware of their personal appearance and style. The influence of social media, fashion shows, and magazines has heightened interest in men's wear, encouraging men to experiment with different styles and trends. This shift has led to a more diverse range of clothing options available to male consumers, making fashion an integral part of their lives.
Rising purchasing power and disposable income, particularly in emerging economies like China and India, have also contributed to the increased demand for men's wear. As the middle class expands, men are enjoying greater purchasing power and discretionary spending, allowing them to invest in high-quality, fashionable clothing. This trend is further amplified by a shift toward a premium lifestyle, where consumers, especially millennials, are more willing to invest in luxury clothing as a status symbol and to keep up with evolving fashion trends.
The expansion of e-commerce and online shopping has made men's wear more accessible and convenient for consumers. Online platforms offer a wider range of products, high-end brands, and personalized recommendations, which contribute to the growth of the men's wear market. This accessibility allows men to explore various styles and make informed purchasing decisions from the comfort of their homes, further driving demand.
Cultural integration and inclusivity are further contributing to the demand for men's wear. As societies become more culturally diverse, there is a growing acceptance of modest fashion in mainstream markets. This cultural integration encourages designers and brands to incorporate elements into their collections, promoting inclusivity and respect for religious values. The men's wear market is expanding beyond traditional boundaries, attracting consumers from various backgrounds who appreciate modest clothing for its aesthetic and ethical qualities.