Men’s Underwear Market Reviewed for 2020 with Industry Outlook to 2027| Hanesbrands Inc., Phillips-Van Heusen Corporation, Ralph Lauren Corporation, Jockey International Inc.

Men’s underwear is intimate clothes that are worn to protect the genital parts of men and also helps in maintaining hygiene. Underwear protect the privates of men by giving them the appropriate shapes and also keep them dry since they easily get moist. Additionally, underwear is also beneficial in preventing damages of outer clothes from being getting dirty from sweat. Some of the types of the men underwear are trunks, boxer brief, briefs, and boxers, they are manufactured by using various materials such as polyester, modal, cotton, and nylon.

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The global men’s underwear market is projected to surpass US$ 16.5 billion by the end of 2027, in terms of revenue, growing at CAGR of 5.8% during the forecast period (2020 to 2027).

Drivers

Increasing penetration of organized retail around the globe is expected to drive the market growth of the men’s underwear. Growing disposable income of the population and an increasing metrosexual male population that are increasing spending on fashion products is expected to fuel the market growth of men's underwear. Growing demand for underwear as a necessity and for comfort reasons is further expected to augment the market growth of the men's underwear.

Market Restraints

Challenges associated with buying underwear from retail owing to the lack of availability of the product of their choice is especially across the developing region is expected to hinder the market growth. Also, the online platform does not offer the chance of touch-or-feel or try on the product before buying which is another major factor expected to hamper the market growth of men's underwear.

Market Opportunities

The penetration of mono-brand outlets around the globe is expected to offer potential growth opportunities to the market of men's undergarments. According to the Coherent Market Insights analysis, Jockey International focuses on making substantial investments in mono-brand outlets in order to drive product sales. The company has been offering product lines through numerous mono-brand outlets and channels worldwide since 1995.

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Competitive Section

Key players are operating in the global men’s underwear market are Hanesbrands Inc., Phillips-Van Heusen Corporation, Ralph Lauren Corporation, Jockey International Inc., American eagle outfitters Inc., Iconix Brand Group Inc., J.C. Penney Corporation, Inc., and Berkshire Hathaway Inc.

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