Global Men's Wear Market Expected to Reach New Heights with a forecasted CAGR of 5.2% from 2023 to 2030.

The global men's wear market is expected to experience significant growth in the coming years, with a forecasted CAGR of 5.1% from 2023 to 2030 and US$567.89bn in 2023, according to a new market research report published by Market Square Insights. The report provides an in-depth analysis of the market size, growth, trends, and opportunities in the industry.

The report identifies several key drivers of growth in the global men's wear market, including increasing disposable incomes, changing fashion trends, and growing awareness of grooming and personal appearance. Additionally, the rise of e-commerce and online retail channels has made it easier for consumers to access a wider range of products, leading to increased competition and innovation in the market.

According to the report, the shirts and t-shirts segment is expected to dominate the men's wear market in terms of revenue, accounting for more than 29.9% of the total market share. The pants and trousers segment is also expected to experience significant growth in the coming years, driven by increasing demand for formal and casual wear.

Driving factors that are contributing to the growth of the global men's wear market.

• Increasing Disposable Incomes: Rising disposable incomes in emerging economies have led to an increase in spending on fashion and luxury goods, including men's wear. This has created a large consumer base that is willing to spend more on high-quality men's wear products.

• Changing Fashion Trends: Fashion trends are constantly evolving, and men are increasingly interested in keeping up with the latest styles and trends. This has led to a demand for a wider range of men's wear products, including casual and formal wear.

• Growing Awareness of Grooming and Personal Appearance: Men are becoming more conscious of their appearance and grooming, and are investing in products and services that help them look and feel better. This has led to a surge in demand for men's grooming products, as well as high-quality men's wear products.

• Rise of E-commerce: The rise of e-commerce and online retail channels has made it easier for consumers to access a wider range of men's wear products. This has led to increased competition and innovation in the market, as well as a more convenient shopping experience for consumers.

• Urbanisation: The rapid urbanization of emerging economies has created a large consumer base for men's wear products. As more people move into cities and urban areas, the demand for high-quality men's wear products is expected to increase.

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The dominance of men's wear in the fashion industry:

1. Men's wear has been gaining dominance in the fashion industry over the years. The traditional stereotype that men are less interested in fashion and grooming has been challenged by the changing attitudes of modern men. Today, men are increasingly interested in fashion, style, and personal grooming, and this has led to significant growth in the men's wear market.

2. One of the main factors driving the dominance of men's wear in the fashion industry is the rise of the men's streetwear trend. Streetwear has become an essential part of men's fashion, with luxury brands and high-end designers creating streetwear-inspired collections to meet the demand of consumers. Streetwear's popularity among men has resulted in a shift in the fashion industry towards more relaxed and casual styles, which is further contributing to the growth of the men's wear market.

3. Another factor is the increasing number of men who are shopping for themselves. In the past, men were less likely to shop for themselves, but this has changed as more men have become interested in fashion and personal style. Men are now more involved in the shopping process, which has led to an increase in demand for men's wear products.

4. Furthermore, the rise of e-commerce and social media has made it easier for men to access a wider range of men's wear products and get inspired by different styles. The growth of online retail channels has created a more diverse and competitive market, which has resulted in increased innovation and more choices for consumers.

Product Offerings in the market:

In terms of product offerings, the men's wear market has witnessed a significant expansion in recent years. In addition to traditional products like shirts, pants, and suits, there is now a wide range of men's wear products available, including sportswear, swimwear, activewear, and loungewear, to name a few. This has been driven by the increasing demand for more diverse and versatile clothing options for men.

In addition to clothing, the men's grooming market has also seen significant growth in recent years. Men are now more interested in grooming and personal care, leading to a surge in demand for products like skincare, hair care, and shaving products. This has led to an expansion in the range of grooming products available, including products specifically targeted at men's needs and preferences.

Overall, the dominance of men's wear in the fashion industry is expected to continue in the coming years, driven by changing attitudes towards fashion and grooming, and the expanding range of men's wear products available.

Recent events and news on the global men's wear market:

1. Collaborations and Partnerships: In recent news, several collaborations and partnerships have been formed between men's wear brands and designers. For instance, Japanese brand Uniqlo announced a collaboration with British designer J.W. Anderson, which resulted in a collection of classic menswear pieces with modern twists.

2. Sustainability Initiatives: Many men's wear brands are adopting sustainability initiatives and making efforts to reduce their environmental footprint. For example, recently, American clothing brand Ralph Lauren announced a plan to achieve net-zero global greenhouse gas emissions by 2040. The company plans to achieve this through a combination of renewable energy, sustainable sourcing, and other measures.

3. Digital Transformation: The men's wear market has been undergoing a digital transformation, and many brands are investing in online platforms and digital marketing to reach consumers. Recently luxury fashion house Gucci announced a new online platform called Gucci Live, which aims to offer personalized shopping experiences to customers through video consultations and digital try-on.

4. Fashion Shows and Events: Fashion shows and events have been important for the men's wear market, and several events have taken place recently. Paris Men's Fashion Week showcased collections from various designers, including Louis Vuitton and Dior. Similarly, New York Fashion Week Men took place in February 2022, featuring collections from brands such as Thom Browne and Todd Snyder.

These recent events and news demonstrate the dynamic and evolving nature of the global men's wear market, with brands and designers exploring new trends and initiatives to meet the changing needs of consumers.

Market Analysis:

Key Companies Profile in the Report:

Gap
H&M
Inditex (Zara)
Kering
LVMH
Nike
PVH
Adidas
Burberry
Hermès
Michael Kors
Prada
Ralph Lauren
Uniqlo

By Type:

Tops
Bottom wear
Coats
jackets
and suits
Intimates and sleepwear
Accessories

By Application:

Online
Brand stores

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Examples of How technology is being used in the men's wear market:

• Wearable Technology: Wearable technology, such as smartwatches and fitness trackers, has become increasingly popular in the men's wear market. These devices can track fitness goals, monitor health, and provide notifications and alerts, making them a convenient and useful addition to men's wardrobes.

• Virtual Try-Ons: Virtual try-ons are becoming more common in the men's wear market, allowing customers to see how the clothing will look on them before making a purchase. Many brands are using augmented reality and other technologies to create virtual try-ons that are accurate and realistic.

• 3D Printing: 3D printing technology has the potential to revolutionize the men's wear market by allowing for customized, made-to-measure clothing. Several brands are already experimenting with this technology, creating bespoke suits and other items that are tailored to individual customer's measurements.

• E-Commerce and Online Shopping: E-commerce and online shopping have become an important part of the men's wear market, allowing customers to browse and purchase clothing from the comfort of their own homes. Many brands are investing in online platforms and digital marketing to reach consumers, and are offering personalized digital services such as virtual try-ons and styling advice.

In short, the intersection of fashion and technology in the men's wear market is creating new opportunities for brands to innovate and meet the changing needs of consumers. As technology continues to advance, we can expect to see even more exciting developments in the intersection of fashion and technology in the future.

Topics covered in the report:

• The document covers several factors related to the market, including major market players such as suppliers, equipment suppliers, end-users, traders, and distributors.

• The profile of each organization is detailed, including information on their capacity, production, price, revenue, cost, gross margin, income volume, income revenue, consumption, increase rate, import, export, and supply strategies.

• Additionally, the report analyses the technological tendencies of these organizations, using data from 12 years of history and forecasts.

• The report also includes data and information based on specific requirements, such as by market player, region, type, and application. Furthermore, the report incorporates a SWOT analysis of the market and includes a section on expert evaluations and conclusions.

Why should you buy this report?

• There are several key reasons to purchase the report, including gaining insightful analyses and a comprehensive understanding of the global market and its industrial landscape.

• Additionally, the report assesses manufacturing processes, identifies major issues, and provides solutions to mitigate development risks.

• Readers will also gain knowledge about the most significant affecting and restraining forces within the market and their effects on the global market.

• The report also covers market strategies employed by leading organizations and provides an outlook and prospects for the future market. Lastly, the report offers customization options to meet specific requirements.

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About Us:
Market Square Insights is a market research and consulting firm.

At Market Square Insights, we understand research requirements and help a client in taking informed business-critical decisions. The company focuses on helping clients achieve transformational growth by helping them make crucial business decisions. At Market Square Insights, we diligently study emerging trends across various industries at global and regional levels, to identify potential opportunities for our clients.

Find Us:
Akshita Jain
New Sangavi, Pune-61

Phone:
IND: +91 9405802422
USA: +1 315 557 6479

Email:
sales@marketsquareinsights.com

Find Us:
Akshita Jain
New Sangavi, Pune-61

Phone:
IND: +91 9405802422
USA: +1 315 557 6479

Email:
sales@marketsquareinsights.com

About Us:
Market Square Insights is a market research and consulting firm.

At Market Square Insights, we understand research requirements and help a client in taking informed business-critical decisions. The company focuses on helping clients achieve transformational growth by helping them make crucial business decisions. At Market Square Insights, we diligently study emerging trends across various industries at global and regional levels, to identify potential opportunities for our clients.

This release was published on openPR.