Men’s Underwear Market is projected to surpass US$ 16.5 billion by the end of 2027

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).

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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Rising awareness regarding personal hygiene among the male is projected to accelerate the market growth of men's undergarments. Also, an increasing male young population who are more active in physical activities and prefer wearing functional underwear during exercise and other types of sports activities is further projected to fuel the market growth over the forecast period.

Regionally, Asia Pacific dominated the global men’s underwear market in 2019, reporting 45% market share in terms of revenue, followed by Europe and North America, respectively.

High brand loyalty especially among the consumer of the U.S. due to which they are reluctant to switch to newer brands. This factor is creating challenges for the new and emerging brand in the market. Thus hampering the market growth of the men's underwear over the forecast period.

The rising trend of wearing low-rise boxer briefs among the male population due to a rising sense of fashion is expected to augment the market growth of men's underwear. According to the Coherent Market Insights analysis, most of the brand's such Jockey, 2(X) IST, and Andrew Christian offer various types of low-rise briefs. Thus, the rising popularity of low-rise boxer briefs is projected to foster the market growth of men's underwear over the forecast period.

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.

Detailed Segmentation:

Global Men’s underwear Market, By Age Group:
Age Group 15-25
Age Group 26-35
Age Group 36-45
Age Group 46-55
Age Group 56-65
Age Group 65+

Global Men’s underwear Market, By Distribution Channel:
Online Store
Offline Store
Mass Merchant
Mono-brand Outlet
Specialty stores
Others

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This release was published on openPR.