Underwear Market to Achieve USD 23,590.9 Mn by 2033 - Persistence Market Research

The global men's underwear market is witnessing consistent growth, driven by evolving consumer preferences and rising demand for comfortable, high-quality innerwear. According to Persistence Market Research, the market was valued at US$ 13,546.0 Mn in 2022 and is expected to reach US$ 23,590.9 Mn by 2033, registering a CAGR of ~5.1% from 2023 to 2033. As fashion-forward and functional designs continue to attract buyers, the market is undergoing a transformation.

Boxer briefs emerged as the leading segment due to their balance of style and comfort, while Europe held the largest regional share in 2022. Europe's dominance is attributed to higher awareness about premium innerwear, fashion consciousness, and the presence of established brands catering to diverse consumer preferences.

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Key Highlights from the Report

➤ The men's underwear market is projected to reach US$ 23,590.9 Mn by 2033.

➤ Boxer briefs dominate the market, showing strong growth at a CAGR of over 3.8%.

➤ Europe holds the highest market share due to fashion-conscious consumers.

➤ XXL size category is expected to grow fastest at a CAGR of 5.5%.

➤ Cotton fabric remains the most preferred material with a value share of 18.9%.

➤ Rising online retail and strategic product innovations are reshaping sales channels.

Market Segmentation

The men's underwear market is segmented by fabric, category, size, age group, price range, and sales channel. Among fabric types, cotton leads with a value share of 18.9%, attributed to its comfort, breathability, and high moisture absorbency. Polyester and nylon are also gaining traction due to their durability and stretch.

In terms of category, boxer briefs account for the highest market share due to their ergonomic fit and stylish appeal. Other popular categories include trunks, boxer shorts, and thongs. Size-wise, XXL is emerging as the fastest-growing segment, reflecting a rise in obesity rates and the demand for inclusive sizing options.

Regional Insights

Europe is the largest regional market, driven by high brand awareness, style preferences, and the presence of premium product lines. Countries like Germany, France, and the U.K. are at the forefront of consumption trends.

North America follows closely, with the U.S. leading due to a strong presence of both international and domestic brands. The market here is fueled by high brand loyalty and growing online retail penetration.

Market Drivers

Rising disposable income and the increasing importance of comfort and hygiene are key growth drivers for the men's underwear market. The modern male consumer is increasingly conscious of style and quality in everyday wear, prompting demand for branded, well-fitted products. The rise of athleisure and active lifestyles is also supporting demand for functional and supportive underwear.

Market Restraints

Despite growth, the market faces several restraints, including price sensitivity in developing regions and intense competition from unorganized players. Additionally, many consumers still perceive underwear as a basic necessity rather than a fashion statement, limiting the premium segment's penetration.

Market Opportunities

There are ample opportunities in product innovation and expansion into emerging markets. Sustainable fabrics, smart textiles, and anti-microbial treatments are gaining popularity. Further, increased internet penetration and e-commerce development are enabling brands to reach untapped demographics with personalized offerings and digital marketing strategies.

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Frequently Asked Questions (FAQs)

➤ How Big is the Underwear Market?

➤ Who are the Key Players in the Global Underwear Market?

➤ What is the Projected Growth Rate of the Underwear Market?

➤ What is the Market Forecast for Underwear through 2033?

➤ Which Region is Estimated to Dominate the Underwear Industry through the Forecast Period?

Company Insights

Key players operating in the global men's underwear market include:

✶ 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.
✶ Berkshire Hathaway Inc.

Recent Developments:

■ In 2021, Buttercloth launched its first underwear line made from a cooling cotton blend, expanding its product range.
■ Several brands have focused on eco-friendly packaging and sustainable raw materials to appeal to environmentally conscious consumers.

Conclusion

The global men's underwear market is on an upward trajectory, driven by changing consumer behavior, fashion trends, and a greater emphasis on quality and comfort. With the boxer briefs category leading in popularity and cotton dominating fabric preferences, brands have significant opportunities to innovate and scale. As digital platforms and modern retail formats gain prominence, the market is poised for dynamic shifts in the years ahead.

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