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The men's underwear market size is estimated to grow at a CAGR of 5.43% between 2023 and 2028. The market size is forecast to increase by USD 11.65 billion. The growth of the market depends on several factors such as the rising consciousness regarding health and hygiene, the rise in demand for cotton-based underwear, and the increasing tendency of using natural and good quality innerwear for men.
This mens underwear market report extensively covers market segmentation by type (boxer brief, briefs, trunks, boxers, and others), material (cotton, polyester, modal, and nylon), and geography (APAC, North America, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018-2022.
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Rising consciousness regarding health and hygiene is the key factor driving market growth. The rising number of young men employed in physical exercises, such as sports and physical exercise, who are likely to wear functional underwear, is expected to contribute to the men's underwear market growth.
Furthermore, the increased awareness of the health risks associated with the constant use of underwear is expected to further stimulate the global men's underwear market. Hence, such factors will drive the growth of the market during the forecast period.
Growing investments and product launches by players is the primary trend shaping market growth. Companies are spending more on R&D to create products that fit all body types and sizes. Prominent players in the global men's underwear market such as Jockey, Hugo Boss, Ralph Lauren Corp., PVH Corp., etc., are using sophisticated tailoring and new modal fabrics such as viscose and merino wool to improve comfort and reduce moisture.
For instance, Calvin Klein, a subsidiary of PVH Corp., unveiled the Autumn 2022 campaign in August 2022, showcasing the brand's new underwear and jeans collection. Designed for everyday wear, the collection features a modern take on wireless comfort with a mix of recycled materials. New product launches and investments by market players will boost the growth of the market during the forecast period.
Issues related to purchasing the product is a challenge that affects market growth. The difficulties associated with buying underwear from retail stores due to the lack of product choice across developing regions the growth of the global men's underwear market is expected to be hindered.
Furthermore, the lack of an opportunity to try or feel the product before making a purchase on the online platform is another factor that is likely to impede the development of the market. These factors may impede the growth of the global men's underwear market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Mens Underwear Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The boxer brief segment is estimated to witness significant growth during the forecast period. The boxer brief style incorporates the characteristics of both boxers and boxer briefs, resulting in a comfortable, supporting, and modern silhouette that is favorably sought after by men of all age groups. Boxer briefs have become increasingly popular due to the rising awareness and importance of comfort and breathability among men.
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The boxer brief segment was the largest segment and was valued at USD 11.15 billion in 2018. Boxer briefs have become increasingly popular due to their attractive appearance. Another factor that has contributed to the increase in the demand for boxer briefs is the growing awareness of health and wellness. The use of premium materials and advanced fabric technologies has resulted in the development of boxer briefs that are moisture-wicking as well as temperature-regulating. Hence, such factors under the boxer briefs segment will drive the growth of the global mens underwear market during the forecast period.
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APAC is estimated to contribute 43% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. China, India, Japan, Australia, and South Korea are some of the prominent markets in the region, as they contribute to the growth of the regional men's underwear market. Some of the major players operating in the men's underwear market in the APAC region include Calvin Kein, Jockey, Lux Cozi, etc.
Moreover, customers are extensively opting for branded menswear due to its affordable price and easy availability. Furthermore, growing urbanization and increasing disposable income are extensively driving the growth of the men's underwear market in the region. Hence, such factors are expected to drive market growth in this region during the forecast period.
The mens underwear market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
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Mens Underwear Market Scope |
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Report Coverage |
Details |
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Page number |
164 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.43% |
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Market Growth 2024-2028 |
USD 11.65 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.91 |
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Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 43% |
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Key countries |
US, Canada, India, China, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
American Eagle Outfitters Inc, Derek Rose Ltd., Duluth Holdings Inc., Farfetch Ltd., Hanesbrands Inc., Huber Holding AG, Hugo Boss AG, Iconix International, Jockey International Inc., Levi Strauss and Co., Newell Brands Inc., OTB Spa, Penney OpCo LLC, Perry Ellis International Inc., PVH Corp., Ralph Lauren Corp., RibbedTee, Under Armour Inc., UNIQLO India Pvt. Ltd., and Dolce and Gabbana SRL |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Material
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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