Men's Underwear Market Sales are Being Driven up by Growing Brand Preference

The men's underwear market exceeded a valuation of US$ 10 Bn in 2020 at a CAGR of about 4% through 2031, according to a recent analysis by Future Market Insights (FMI). Along with design innovation, the market is getting ready to see the introduction of electronic underwear made specifically for older people.

High sales of electronic underwear are predicted to occur as a result of the rising prevalence of various health problems, especially among the older population, such as bedsores or pressure ulcers. For instance, 2exist offers men's hot underwear that is gorgeous from a fashion and functional standpoint. The company's electric no-show brief comes with a waistband that shimmers and shines in the most subdued manner.

Because the underwear is supportive and available in a variety of colours, it is more trendy. The underwear is created ingeniously with the aid of contemporary technologies so that it has stitching on its sides and a middle seam for increased comfort and room. Customers seeking solutions for health problems want them to be simple and comfortable.

The market for men's underwear is anticipated to see increased sales as a result. Additionally, funding for research into designing inner garments for patients' comfort will promote commercial breakthroughs.

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Key Takeaways from the Men's Underwear Market Study

• Based on material type, linen-made men's underwear is likely to remain highly sought-after owing to the rising demand for luxurious and premium underwear among men.

• As per analysis, demand for boxer shorts is expected to grow at a CAGR of over 5% over the forecast period.

• Sales via multi-brand stores will pick up in the coming years.

• Demand in the U.S. is expected to grow by 3% CAGR between 2021 and 2031.

• Sales of men's underwear will pick up pace at 5% CAGR in the U.K.

Impact of COVID-19 on the Market

The sudden outbreak of the COVID-19 has transformed the growth factors for various industries. The implementation of work from home trend has led to the rise of awareness regarding personal health among individuals, which is further driving the interest of customers towards premium and comfortable innerwear that have new designs and are stylish at the same time.
On the flip side, strict regulations imposed on the movement of individuals in commercial areas, lack of trading between countries led to plummeting sales for a short period of time. However, with time, the men's underwear market is likely to bounce back, exhibiting a steady growth through the course of the forecast period.

Who is winning?

Leading manufacturers of men's underwear are adopting aggressive promotional strategies and advertisements to driven sales. Leading players present in the men's underwear market are Hanesbrands Inc., Philips-Van, Heusen Corporation, Ralph Lauren Corporation, Jockey International Inc., American Eagle, Outfitters Inc., Iconix Brand Group Inc., J.C. Penney Corporation Inc., Under Armour, Inc., RibbedTee Company, Ramblers Far, Inc., Levi Strauss & Co., Perry Ellis International Inc., and Naked Brand Group Inc. among others.

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Get More Valuable Insights

Future Market Insights, in its new offering, provides an unbiased analysis of the global men's underwear market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031.

The study divulges compelling insights on the men's underwear market based on the material type (cotton, wool, silk, polyester, rayon, linen, nylon, and others), by category (regular brief, boxer brief, boxer shorts, trunks, and thongs), by size (XS, S, M, L, XL, XXL, and XXL), by age group (15-25, 26-35, 36-45, 46-55, 56-64, and 65+), by price range ( Below US$ 10, US$ 10 - US$ 20, US$ 20 - US$ 30, and US$ 30 & Above), by sales channel (wholesalers/ distributors, hypermarkets/ supermarkets, specialty stores, multi-brand stores, online retailers and others, across each of the seven major regions.

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About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.