Global Men’s Underwear Market Size, Share, Price, Trend and Forecast | Naked Brand Group Inc., Ralph Lauren Corporation, and Berkshire Hathaway Inc

Global Men’s Underwear Market - Insights
An underwear is usually made up of suitable material or fabric in order to provide comfort and protect the internal body parts. Increasing awareness regarding health & fitness and personal hygiene among men is a major driving factor for the growth of the men’s underwear market. Furthermore, increasing demand for stylish and trendy underwear such as ‘geo-prints’ launched by the Australian company 2eros in 2016 are expected to fuel demand for men’s underwear, which in turn is expected to drive the growth of the market during the forecast period (2018 – 2025). Wide availability of products related to intimate apparels for men coupled with discounts with online e-commerce websites such as Amazon providing 20-30% discount on brands such as Jockey and Hanes, which is expected to drive growth of online shopping for underwear worldwide.

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𝑺𝒐𝒎𝒆 𝒐𝒇 𝒕𝒉𝒆 𝒍𝒆𝒂𝒅𝒊𝒏𝒈 𝒑𝒍𝒂𝒚𝒆𝒓𝒔 𝒊𝒏 𝒕𝒉𝒆 𝒎𝒆𝒏’𝒔 𝒖𝒏𝒅𝒆𝒓𝒘𝒆𝒂𝒓 𝒎𝒂𝒓𝒌𝒆𝒕 𝒊𝒏𝒄𝒍𝒖𝒅𝒆 𝑨𝒎𝒆𝒓𝒊𝒄𝒂𝒏 𝑬𝒂𝒈𝒍𝒆 𝑶𝒖𝒕𝒇𝒊𝒕𝒕𝒆𝒓 𝑰𝒏𝒄., 𝑷𝒉𝒊𝒍𝒊𝒑𝒔-𝑽𝒂𝒏 𝑯𝒆𝒖𝒔𝒆𝒏 𝑪𝒐𝒓𝒑𝒐𝒓𝒂𝒕𝒊𝒐𝒏, 𝑯𝒂𝒏𝒆𝒔𝒃𝒓𝒂𝒏𝒅𝒔 𝑰𝒏𝒄. 𝑱𝒐𝒄𝒌𝒆𝒚 𝑰𝒏𝒕𝒆𝒓𝒏𝒂𝒕𝒊𝒐𝒏𝒂𝒍 𝑰𝒏𝒄, 𝑷𝒆𝒓𝒓𝒚 𝑬𝒍𝒍𝒊𝒔 𝑰𝒏𝒕𝒆𝒓𝒏𝒂𝒕𝒊𝒐𝒏𝒂𝒍 𝑰𝒏𝒄., 𝑵𝒂𝒌𝒆𝒅 𝑩𝒓𝒂𝒏𝒅 𝑮𝒓𝒐𝒖𝒑 𝑰𝒏𝒄., 𝑹𝒂𝒍𝒑𝒉 𝑳𝒂𝒖𝒓𝒆𝒏 𝑪𝒐𝒓𝒑𝒐𝒓𝒂𝒕𝒊𝒐𝒏, 𝒂𝒏𝒅 𝑩𝒆𝒓𝒌𝒔𝒉𝒊𝒓𝒆 𝑯𝒂𝒕𝒉𝒂𝒘𝒂𝒚 𝑰𝒏𝒄

The specialty store segment held a dominant position the market and it is expected to retain its dominance in the global underwear market over the forecast period. This is attributed to increasing number of specialty stores, which are most preferred to purchase underwear due to the large variety of options available at these stores. For instance, HanesBrands launched a pop-up shop in 2017, in North Carolina in the U.S. providing customers with up to 75% discount on their undergarments. Furthermore, online channel segment is gaining significant traction, as market players are focused on offering their products through online distribution channels to expand their customer base. These distribution channels enable manufacturers to offer a large product portfolio along with providing discounts and receiving immediate feedback of the customers.

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Among product types, boxer briefs segment was dominant segment accounting for 36.57% of the market share in 2016 and is expected to increase to 37.91% by 2025. The trunks segment is expected to grow at the fastest rate, with CAGR of 6.31% during the forecast period. Boxer briefs are a fusion of men's underwear that are long and similar to boxer shorts, however have a tighter and more comfortable fitting like briefs thus providing better comfort and protection. This is a major factor that is expected to drive the demand for boxer briefs in the global men’s underwear market.

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This release was published on openPR.