Inner-wear Market Demand, Development and Forecast Through 2023-2033

Introduction:
The Inner-wear market is a multibillion-dollar industry that includes a wide range of products such as briefs, boxers, bras, and shapewear. The market is driven by various factors such as changing fashion trends, increasing awareness about health and hygiene, and the rising demand for sustainable and eco-friendly products.

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Market Size and Segmentation:
According to Persistence Market Research, the men's Inner-wear market generated a revenue of US$ 13,546.0 Mn in 2022. The demand for men's Inner-wear will accelerate, with the profound footprint of players in the global market. The global market for men's Inner-wear is expected to reach US$ 23,590.9 Mn by 2033, growing at a ~5.1% CAGR from 2023 to 2033.

The market is segmented by product type, gender, distribution channel, and geography.

Based on product type, the market is segmented into briefs, boxers, bras, and shapewear. The segment accounted for the largest market share in 2020, owing to the high demand for comfortable and functional Inner-wear. The shapewear segment is expected to grow at a faster rate due to the increasing demand for body-shaping and contouring products.

Based on gender, the market is segmented into men's Inner-wear and women's Inner-wear. The women's Inner-wear segment accounted for the largest market share in 2020, owing to the high demand for fashionable and comfortable products. The men's Inner-wear segment is expected to grow at a faster rate due to the increasing awareness about health and hygiene among men.

Based on the distribution channel, the market is segmented into online and offline. The online segment accounted for the largest market share in 2020, owing to the increasing popularity of e-commerce platforms and the convenience of online shopping. The offline segment is expected to grow at a faster rate due to the preference for traditional shopping methods in certain regions.

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Regional Analysis:
The global Inner-wear market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific accounted for the largest market share in 2020, owing to the high demand for Inner-wear products in the region and the presence of a large number of manufacturers. North America and Europe are expected to grow at a faster rate due to the increasing awareness about health and hygiene and the rising demand for sustainable and eco-friendly products.

Drivers and Restraints:
The global Inner-wear market is driven by various factors such as changing fashion trends, increasing awareness about health and hygiene, and the rising demand for sustainable and eco-friendly products. The increasing preference for comfortable and functional Inner-wear and the growing popularity of body-shaping and contouring products are also contributing to the market growth.

However, the market is restrained by factors such as the availability of low-cost alternatives, the impact of economic fluctuations on consumer spending, and the negative effects of synthetic fabrics on the environment. The increasing competition in the market is also a challenge for the growth of the Inner-wear market.

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Key Market Players
Key market players covered in this report are Hanesbrands Inc., Philips-Van Heusen Corporation, Ralph Lauren Corporation, Jockey International Inc., American Eagle Outfitter Inc., Iconix Brand Group Inc., J.C. Penny Corporation, Inc. and Berkshire Hathaway Inc.

Major players in Inner-wear market focus on enhancing their global and regional presence through acquisitions and mergers and operational expansion.

The global Inner-wear market is expected to grow at a significant rate due to the increasing awareness about health and hygiene, changing fashion trends, and the rising demand for sustainable and eco-friendly products. The market is highly competitive, with numerous players offering a wide range of products. The key players in the market are focusing on product innovation, expansion, and strategic partnerships to increase their market share. The growth of the market is driven by factors such as the high demand for comfortable and functional Inner-wear, increasing awareness about body-shaping and contouring products, and the growing preference for online shopping.

Read More Trending "PMR Exclusive Article": https://www.globenewswire.com/en/news-release/2018/09/26/1576599/0/en/Men-s-Inner-wear-Market-is-projected-to-reach-US-11-Bn-by-2020-Persistence-Market-Research.html

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