IMARC Group’s report titled “Menswear Market Report by Product Type (Trousers, Denims, Shirts and T-Shirts, Ethnic Wear, and Others), Season (Summer Wear, Winter Wear, All-Season Wear), Distribution Channel (Supermarkets and Hypermarkets, Exclusive Stores, Multi-Brand Retail Outlets, Online Stores, and Others), and Region 2024-2032“. The global menswear market size reached USD 593.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 948.4 Billion by 2032, exhibiting a growth rate (CAGR) of 5.2% during 2024-2032.
Factors Affecting the Growth of the Menswear Industry:
- Changing Fashion Trends and Styles:
The menswear market exhibits a dynamic nature, propelled by the constant evolution of fashion trends and styles. Contemporary men are increasingly aware of their appearance and personal style, which significantly impacts their clothing selections for various occasions and environments. Fashion designers and brands are instrumental in influencing these trends, launching new collections that address a wide array of preferences—from traditional and tailored garments to casual and streetwear-inspired attire. This variety broadens the market’s appeal to different demographic groups and promotes repeat purchases as men strive to remain fashionable. The capacity of brands to swiftly adapt to changing consumer preferences and unveil innovative designs ensures that the menswear market remains lively and attuned to consumer needs, thereby stimulating growth and enhancing competition within the industry.
- Increasing Disposable Income and Spending Power:
The increase in disposable incomes among men worldwide has significantly impacted the menswear industry, establishing it as a crucial economic contributor. With enhanced purchasing power, men are more inclined to invest in high-quality apparel that showcases their personal style and social standing. This shift has resulted in a heightened demand for premium and luxury menswear brands, alongside designer labels that emphasize exclusivity and superior craftsmanship. Additionally, the availability of affordable, fashion-forward alternatives has broadened the consumer demographic, enabling men from various income levels to engage with trends and style options that were previously deemed exclusive. The rise in disposable income not only boosts sales in traditional retail outlets but also propels online shopping trends, where the convenience and access to a diverse array of products further encourage market growth.
- Growing Influence of Digital and E-Commerce Channels:
The menswear industry has experienced a profound transformation due to the rise of digital platforms and e-commerce. The advent of online shopping has fundamentally changed the way men acquire clothing, providing convenience, accessibility, and a tailored shopping experience. E-commerce sites allow men to explore and purchase a wide array of brands and styles from the comfort of their homes or while on the move. This transition towards digital avenues has compelled menswear brands and retailers to bolster their online visibility, refine user interfaces, and invest in digital marketing strategies to effectively engage a tech-savvy audience. The impact of social media and digital marketing initiatives is pivotal in shaping consumer perceptions and influencing purchasing decisions, as men increasingly seek style inspiration and product recommendations through online channels. As digital commerce continues to grow, its influence on the menswear sector is anticipated to increase, fostering further innovation and competition among brands striving for online consumer engagement and loyalty.
Leading Companies Operating in the Global Menswear Industry:
- 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.)
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/menswear-market/requestsample
Menswear Market Report Segmentation:
By Product Type:
- Trousers
- Denims
- Shirts and T-Shirts
- Ethnic Wear
- Others
Shirts and t-shirts represent the leading segment due to their versatility and widespread use in both casual and formal settings, appealing to a broad consumer base seeking stylish and functional clothing options.
By Season:
- Summer Wear
- Winter Wear
- All-Season Wear
All-season wear accounts for the largest market share owing to its year-round relevance and consumer preference for clothing that offers comfort and practicality regardless of seasonal changes.
By Distribution Channel:
- Supermarkets and Hypermarkets
- Exclusive Stores
- Multi-Brand Retail Outlets
- Online Stores
- Others
Exclusive stores represent the largest segment as they offer a curated shopping experience with a focus on high-end menswear brands, attracting consumers looking for premium quality and personalized service.
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Global Menswear Market Trends:
The global menswear market is significantly influenced by evolving fashion trends and a growing awareness of style among men. Contemporary men are increasingly conscious of their clothing selections and are willing to experiment, which has led to a heightened demand for a variety of apparel, including formal attire, casual wear, and athleisure options. Additionally, the rise in disposable incomes and enhanced living standards worldwide has resulted in increased consumer expenditure on fashion, particularly in emerging markets where urbanization and western influences are shaping fashion tastes. This economic advancement has stimulated the demand for both premium and luxury menswear brands, as well as affordable fashion alternatives that appeal to a wide range of consumer budgets. Moreover, the expanding impact of digital and e-commerce platforms has transformed the shopping experience for men, providing convenience, accessibility, and a wider array of brands and styles, thereby further driving market expansion.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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