Menswear Market to Reach USD 948.4 Billion 2024-2032, Driven by 5.2% CAGR

IMARC Group provides an analysis of the key trends in each segment of the global menswear market report, along with forecasts at the global, regional, and country levels from 2024-2032.
Menswear Industry

Summary:

* The global menswear market size reached USD 593.5 Billion in 2023.
* The market is expected to reach USD 948.4 Billion by 2032, exhibiting a growth rate (CAGR) of 5.2% during 2024-2032.
* North America leads the market, accounting for the largest menswear market share.
* Shirts and t-shirts account for the majority of shares as they are favored for being comfortable clothing apparel.
* All-season wear holds the largest share in the menswear industry.
* Exclusive stores remain a dominant segment in the market as they offer personalized shopping experience.
* The rising interest in personal grooming is a primary driver of the menswear market.
* The increasing proliferation of e-commerce and digital shopping platforms is reshaping the menswear market.

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Industry Trends and Drivers:

* Growing interest in personal grooming:

One of the key factors driving the menswear market is the increasing interest among men in personal style and grooming. As societal norms around fashion and appearance evolve, more men are focusing on their clothing choices as an expression of individuality and confidence. This shift is evident in the rise of fashion influencers, social media platforms, and celebrity endorsements, which inspire men to invest in more stylish, tailored, and high-quality apparel. The growing popularity of streetwear and athleisure trends also reflects a desire for versatile clothing that balances comfort with style. Brands are responding by expanding their product lines to cater to different tastes and preferences, offering a wide range of formal, casual, and athletic wear. This growing attention to personal appearance is driving demand for diverse menswear options, contributing to market growth across various segments.

* Rising consumer spending:

Another significant driver of the menswear market is the rise in disposable income and increased spending power among male consumers. As economic conditions improve and the global middle class expands, men are allocating more of their income to apparel purchases. This trend is particularly evident in urban areas, where professional men are seeking to project a polished image through high-quality, fashion-forward clothing. Additionally, as more men enter higher-paying jobs and leadership positions, there is an increased demand for luxury menswear, including tailored suits, premium casual wear, and designer accessories. Retailers and brands are capitalizing on this trend by offering a wide range of premium products that cater to affluent consumers. The willingness to spend more on quality and branded apparel is a major factor driving the growth of the menswear market.

* Expanding e-commerce market:

The rise of e-commerce and digital shopping platforms is another key factor propelling the menswear market. The convenience of online shopping, coupled with the increasing availability of menswear products on digital platforms, has transformed the way men purchase clothing. E-commerce provides access to a wide variety of styles, sizes, and brands that may not be available in physical stores, allowing consumers to explore a broader range of fashion options. Additionally, personalized recommendations, easy return policies, and virtual try-on tools are enhancing the online shopping experience, encouraging more men to buy clothing digitally. The growing influence of social media marketing, where brands use targeted ads and influencer partnerships, is also boosting e-commerce sales in the menswear market. This digital transformation is opening up new revenue streams for brands and expanding the reach of menswear to a global audience.

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Menswear Market Report Segmentation:

Breakup By Product Type:

* Trousers
* Denims
* Shirts and T-Shirts
* Ethnic Wear
* Others

Shirts and t-shirts account for the majority of shares as they are favored for being comfortable clothing apparel.

Breakup By Season:

* Summer Wear
* Winter Wear
* All-Season Wear

All-season wear dominates the market as they are versatile and suitable for wear throughout the year.

Breakup By Distribution Channel:

* Supermarkets and Hypermarkets
* Exclusive Stores
* Multi-Brand Retail Outlets
* Online Stores
* Others

Exclusive stores represent the majority of shares as they offer a curated selection of fashion items.

Market Breakup by Region:

* North America (United States, Canada)
* Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
* Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
* Latin America (Brazil, Mexico, Others)
* Middle East and Africa

Top Menswear Market Leaders:

* Adidas AG
* Burberry Group Plc
* Gap Inc
* Giorgio Armani S.p.A
* H&M Hennes & Mauritz AB
* Kering S.A.
* Levi Strauss & Co.
* Nike Inc.
* Prada S.p.A.
* PVH Corp.
* Ralph Lauren Corporation
* Zara S.A. (Industria de Diseno Textil, S.A.)

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