USD 39.11 billion
Men’s Underwear Market Size, Share, Growth Analysis, By Type(Trunks, boxer briefs, briefs, and other), By Fabric(Nylon, modal, cotton, and other), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25K2061 |
Region:
Global |
Published Date: April, 2024
Pages:
223
|Tables:
65
|Figures:
79
Men’s Underwear Market Insights
Global Men’s Underwear Market size was valued at USD 39.11 billion in 2022 and is poised to grow from USD 41.22 billion in 2023 to USD 62.78 billion by 2031, growing at a CAGR of 5.40% during the forecast period (2024-2031).
The global men's underwear market is expected to grow due to several factors, including increasing awareness of health, personal hygiene, and the availability of a wide range of products and designs suitable for various purposes. The market growth is further driven by improving fashion trends, increasing disposable income, and changing consumer lifestyles and preferences. The demand for underwear made of different fabrics such as cotton, polyester, nylon, rayon, silk, and cotton blends is increasing, and manufacturers are focusing on intimate product designs and patterns to cater to a larger consumer base. The COVID-19 pandemic has negatively impacted the global men's underwear market. However, the market is expected to gradually recover as people resume normal life, and the demand for men's underwear is expected to grow. The Millennials are driving the demand in the men's underwear market as they are more receptive to new and different products than other generations. The rise of modern retail stores is projected to propel product visibility and reach. Companies are focusing on R&D to make products more suitable for all shapes and sizes, and innovation in advance tailoring along with new fabric types is driving the market competition. For instance, Saxx offers innovative underwear products with 3D hammock-shaped pouches that prevent friction caused by skin-against-skin and mesh panels and unexposed stitching to avoid chafing. They have also created a 3D shape around thighs, glutes, hamstring, and quads using nine panels of fabric for better fit, feel, and functionality. Such innovations are anticipated to create new opportunities for manufacturers and encourage consumers to choose products other than conventional hues.
US Men’s Underwear Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Boxer briefs
Fastest Growth
Boxer briefs
Growth Rate
5.40% CAGR
Global Men’s Underwear Market 2022-2030 ($ Bn)
Country Share for Asia Pacific Region- 2022 (%)
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Men’s Underwear Market Segmental Analysis
Global Men’s Underwear Market is segmented on the basis of type, fabric and region. By type, the Men’s Underwear Market is segmented into trunks, boxer briefs, briefs, and others. By fabric, the market is segmented into nylon, modal, cotton, and others. By region, the Men’s Underwear Market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Men’s Underwear Market Analysis by Type
The Boxer brief type segment dominated the global men's underwear market in 2022. This can be attributed to several factors such as the product's ability to offer better fit, support, and comfort to the wearer. The design of boxer briefs imitates tapered boxers while providing the comfort of briefs. Additionally, this type of underwear is available with various pouch options, for instance, the contour pouch by Calvin Kelvin. Boxer briefs are made using a range of fabrics such as cotton, microfiber blends, and polyamide with an appropriate amount of spandex for correct stretch, which enhances their comfort.
Trunks are projected to register the fastest CAGR of 5.8% from 2022 to 2030. This type of underwear is gaining popularity among millennials and Generation X because of its versatility and suitability for everyday wear, including dressing up and even sportswear. Trunks are lean and shorter than boxer briefs, which can make the legs and thighs appear slimmer and more muscular, thereby driving their popularity among the younger generation. Trunks are also the best fit for sports, water adventures, and daily wear, which is expected to drive their demand.
Men’s Underwear Market Analysis by Fabric
In 2022, cotton fabric underwear dominated the market. This growth can be attributed to cotton's unique properties that make it soft, lightweight, and breathable, providing consumers with comfort, absorbency, and moisture resistance. Additionally, cotton is known for its durability and ability to withstand heat, detergents, and bleach, making it a more economical option.
On the other hand, modal fabric is expected to have the fastest CAGR during the forecast period. It is a second-generation regenerated cellulosic fiber, a type of rayon that is about 50.0% more absorbent than cotton, and is known to be the softest fabric in the market. Its durability comes from its ability to resist shrinkage, exhibit high wet strength, and maintain its absorbent properties even after multiple washes and tumble drying. Modal fabric is also versatile as it can be easily dyed in bright colors, and it provides consumers with a luxurious feel due to its softness, lightweight, and exceptional ventilation, making it an attractive option for buyers.
Global Men’s Underwear Market Size By Type 2022(%)
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Men’s Underwear Market Regional Insights
Asia Pacific dominated the global market. The high demand can be attributed to the high male population in the region. India and China accounted for a male population of 723 million, respectively in 2021. Together, these countries hold a more than 73.0% regional market share. The India market is expected to grow fastest as many international players such as Jockey, Hanes, and Calvin Klein are increasing their regional presence to cater to the consumer’s demand for comfortable and premium underwear. In addition, the region's growing middle class, rising disposable income, and changing lifestyle preferences have also contributed to the growth of the men's underwear market in Asia Pacific. The increasing number of working professionals and a growing trend of fitness and sports activities have increased the demand for comfortable and high-performance underwear. Moreover, the region's strong manufacturing base and cost advantages have also encouraged many global players to establish their regional production facilities, further driving the market growth.
The North America market is expected to grow at the fastest CAGR. The region's high demand for men's underwear can be attributed to the rising awareness of fashion and changing fashion trends among men. Additionally, the increasing trend of athleisure and fitness activities drives the demand for comfortable and moisture-wicking underwear. The United States is the region's largest market for men's underwear, accounting for a major share of the market. The demand for premium and designer men's underwear is growing in the country due to the increasing purchasing power and changing lifestyle of consumers. E-commerce and online channels are gaining popularity in the region, providing a convenient way for consumers to purchase men's underwear. Major players such as Hanes, Calvin Klein, and Tommy Hilfiger have a strong presence in the region and are focusing on product innovation and marketing to maintain their market position.
Global Men’s Underwear Market Size By Geography, 2022-2030
- Largest
- Fastest
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Men’s Underwear Market Dynamics
Men’s Underwear Market Drivers
Growing Awareness about Health and Hygiene
- A major driver of the global Men's Underwear market is the growing awareness about health and hygiene. Men are becoming more conscious of their personal hygiene, and are opting for underwear that offers better moisture management, breathability, and odor control. This trend is particularly evident in emerging economies, where rising disposable incomes and growing urbanization are leading to a greater emphasis on personal hygiene and grooming. As a result, brands are focusing on offering underwear with features such as antimicrobial properties, moisture-wicking fabrics, and ventilation to cater to this demand.
Men’s Underwear Market Restraints
Intense Competition
- The Men's Underwear market is highly competitive with a large number of manufacturers competing with each other on the basis of product features, quality, price, and brand recognition. This intense competition often leads to a price war, resulting in reduced manufacturer profit margins.
High Cost of Raw Materials
- The production of Men's Underwear requires various raw materials such as cotton, nylon, and spandex. The prices of these raw materials are highly volatile and subject to market fluctuations. The high cost of raw materials increases the production cost of Men's Underwear, which may lead to a rise in the product's price, thereby reducing its demand.
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Men’s Underwear Market Competitive Landscape
Global Men's Underwear Market is highly competitive and fragmented, with the presence of both established and new players. Major players in the market are focused on product innovation, strategic partnerships, and mergers and acquisitions to gain a competitive edge. Some of the key companies compete based on factors such as product quality, design, pricing, brand image, and distribution channels. The market is expected to witness continued competition in the coming years, with new players entering the market and existing players introducing new products to meet changing consumer preferences.
Men’s Underwear Market Top Player’s Company Profiles
- Calvin Klein
- Hanes
- Jockey
- Fruit of the Loom
- Tommy Hilfiger
- Hugo Boss
- Emporio Armani
- Diesel
- Ralph Lauren
- Under Armour
- Puma
- Saxx
- 2(X)IST
- Andrew Christian
- Bonds
- C-IN2
- Hanro
- MeUndies
- Naked
- Zimmerli
Men’s Underwear Market Recent Developments
- In September 2022, Page Industries Ltd, the official licensee of Jockey International Inc., opened a two-story retail flagship store in New Delhi, India. The 2,500 square foot store is divided into dedicated sections for men, women, and kids.
- In August 2022, Tommy Hilfiger expanded its retail presence by launching a new store in Bonn, Germany. The store, located in a historical building, aims to provide a top-notch in-store experience and offers men's underwear and other accessories.
- In August 2022, Calvin Klein unveiled its "Autumn 2022" campaign featuring the latest collections of underwear and jeans. The collection is designed for everyday wear and includes a modern style that combines wireless comfort with recycled materials.
- In April 2022, Hanes brand, Inc. introduced a new line of men's underwear called "X-Temp Total Support Pouch." The underwear features cooling fabric, breathable mesh panels, and quick-drying and moisture-wicking performance.
Men’s Underwear Key Market Trends
Growing demand for premium and luxury men's underwear
- Consumers are increasingly willing to pay a premium for high-quality and comfortable underwear made from premium materials. Brands are responding to this demand by offering premium and luxury men's underwear with features such as moisture-wicking, odor-resistant, and breathable fabrics.
Men’s Underwear Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Men's Underwear Market analysis, the men's underwear market is growing due to increasing fashion consciousness among men, the popularity of e-commerce platforms for purchasing underwear, and the growing demand for premium underwear products. Additionally, the rise in health and fitness awareness has also increased the demand for functional and comfortable underwear among men. In terms of product type, briefs, and boxer shorts are the most commonly purchased types of men's underwear. However, the demand for other styles, such as trunks and boxer briefs, is also increasing. Geographically, the Asia Pacific region is expected to witness significant growth in the men's underwear market due to the increasing disposable income of consumers and growing fashion trends. North America and Europe are also expected to remain major markets for men's underwear.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 39.11 billion |
| Market size value in 2031 | USD 62.78 billion |
| Growth Rate | 5.40% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
Men’s Underwear Market Recent Developments
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Men’s Underwear Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Men’s Underwear Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Men’s Underwear Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Men’s Underwear Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Men’s Underwear Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Men’s Underwear Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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