Menswear Market Size

Report on Industry Size & Market Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Global Men's Clothing Industry Statistics & Trends and the Market is Segmented by Product Type (Trousers, Denim, T-shirts, Winter Wear, Sportswear, and Other Product Types); by Distribution Channel (Offline Retail Stores and Online Retail Stores); and by Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa.) The report offers market size and values in (USD million) during the forecasted years for the above segments.

Menswear Market Size

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Menswear Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 5.89 %
Fastest Growing Market Asia-Pacific
Largest Market North America
Market Concentration Low

Major Players

Menswear Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Menswear Market Analysis

The menswear market is projected to register a CAGR of 5.89% over the forecasted period.

Men these days are very up-to-date about their appearance and fashion. The consciousness of fashion and clothing around the world is increasing. For every occasion, there is a different outfit for men these days. An increase in e-commerce websites, affordable clothing, and the increased purchasing power of consumers are driving the market. The market players adopt different strategies to attract consumers, such as offering promotional discounts, casting celebrities in their advertisements, and having festive sales. In addition, companies are developing new shopping experiences for consumers to provide them with the finest shopping experience possible. For instance, in May 2022, H&M launched a new in-store shopping experience enabled by technology in the United States. This in-store shopping experience provides consumers with personalized recommendations, fast checkout, seamless payment, and upgraded delivery or return options.

The adoption of a luxury lifestyle among consumers has influenced the purchasing power of millennials to opt for luxury wear. People tend to spend on fashion wear, party wear, and even nightwear. Rapid growth and rising urbanization lead to a modern class of consumers with more money to spend who develop a growing passion for current fashion. The demand for occasion-specific clothing is growing within the menswear segment. Over the long term, the digitalization of online shopping apps, increased spending power, and awareness of clothing among men are expected to drive the market.

Menswear Market Trends

This section covers the major market trends shaping the Menswear Market according to our research experts:

Growing Inclination for Online Shopping Among Men

A boost in exposure to the internet and e-commerce has improved fashion consciousness and the availability of high-end brands and rare products. Over the past few years, the companies have been targeting men's wear due to growing purchasing power in emerging economies, including China and India. The rising influence of media and marketing strategies adopted by e-commerce platforms, such as celebrity endorsements, promotional discounts, and festive sales, is anticipated to fuel the market's growth in the coming years. Moreover, with the increasing number of online users, there has been a steady rise in online transactions and the average amount of money spent online. The users are ready to buy the goods on the spot due to online retail's ease, convenience, and time-saving advantages. Many luxury brands are forming partnerships with technology companies to enhance people's shopping experiences. For instance, in February 2022, LMVH Japan and SoftBank Corp. signed a partnership agreement. This agreement enhanced the online sales of LMVH with the help of the expertise of SoftBank Corp. in digitalization. The increased security features offered by online retailers, such as online payments, free delivery, improved online customer services, and the more customer-friendly design of shopping websites like Amazon, Myntra, Flipkart, and many more, influence customers to shop online.

Menswear Market: Share of Consumption of Menswear, By Sale Channel, Italy, 2021

Asia-Pacific to Experience Robust Growth in the Menswear Market

The menswear industry has witnessed significant growth in recent years in China and India. This is because male shoppers tend to focus on quality and style, purchasing high-quality garments. According to data from the Indian Ministry of External Affairs, in 2021, the country had 1.3 billion people with an average age of 29. Due to the young population, the men's wear market is growing. The young generation these days is influenced by fashion models and actors. They want their wardrobe to be versatile and fashionable. In India, there are multiple festivals for which men need different attire. Indian brands are forming partnerships with famous designers to enhance the quality and fashion of men's wear. For instance, in February 2021, Aditya Birla Fashion and Retail formed a partnership with Tarun Tahilani, India's top designer, to enter the market for men's premium ethnic clothing.

Moreover, the rapid growth of China's economy, increasing purchasing power among China's urban middle-class customers, brand awareness, and demand for apparel quality drive the Chinese menswear market. The future of online shopping for men will continue to grow, owing to an increase in consumer acceptance of the internet as an alternative shopping channel. Given this fact, the menswear market will increasingly become competitive. The new millennial generation of Asian-Pacific men will be the key drivers for both European and American influences in menswear.

Menswear Market: Market CAGR (%), By Geography, Global, 2021

Menswear Industry Overview

The menswear market is highly competitive. Some major key global players in the menswear market include Gap Inc., Aditya Birla Management Corporation Pvt. Ltd., Kering, Burberry Group PLC, Reebok, Adidas, Nike, and Inditex (Zara), among others. All these players are trying different innovative marketing strategies to enhance the market value of their products. Some of the companies are forming mergers and acquisitions with foreign and local brands in the region to expand their portfolio. All of these players are expected to remain active in the global men's wear market as it grows.

Menswear Market Leaders

  1. Gap, Inc.

  2. Aditya Birla Management Corporation Pvt. Ltd.

  3. Nike Inc.

  4. Industria de Diseño Textil, S.A.

  5. H & M Hennes & Mauritz AB

*Disclaimer: Major Players sorted in no particular order

Menswear Market Concentration
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Menswear Market News

  • October 2022: H&M's brand ARKET, a Nordic lifestyle brand, announced the opening of its new store located on Götgatan in Södermalm, Stockholm, Sweden. ARKET is a modern market and lifestyle brand that includes fashion and accessories for men, women, and children, as well as essential home items.
  • August 2022: H&M launched a limited-edition denim collection inspired by circular fashion. The collection is the first to be manufactured from eco-friendly fabrics such as Circulose Viscose and TENCEL Lyocell with REFIBRA technology. Four pairs of loose-fit five-pocket jeans, two oversized button-down shirts, one oversized workwear jacket, and one hooded zip jacket are included in the collection, all in muted indigo tones with a clean stonewashed finish.
  • July 2022: Gap Inc. formed a partnership with Reliance Retail Limited, India's largest retailer, to launch Gap Inc. in India. With this collaboration, Reliance began introducing Gap's latest fashion offerings for men, women, and children to Indian customers.

Menswear Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product Type

      1. 5.1.1 Trousers

      2. 5.1.2 Denims

      3. 5.1.3 T-shirts

      4. 5.1.4 Winter wear

      5. 5.1.5 Sports wear

      6. 5.1.6 Other Product Types

    2. 5.2 Distribution Channel

      1. 5.2.1 Offline Retail Stores

      2. 5.2.2 Online Retail Stores

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 United Kingdom

        2. 5.3.2.2 Germany

        3. 5.3.2.3 France

        4. 5.3.2.4 Russia

        5. 5.3.2.5 Italy

        6. 5.3.2.6 Spain

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 India

        2. 5.3.3.2 China

        3. 5.3.3.3 Japan

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 South Africa

        2. 5.3.5.2 Saudi Arabia

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Gap Inc.

      2. 6.3.2 Aditya Birla Management Corporation Pvt. Ltd

      3. 6.3.3 Industria de Diseño Textil, S.A.

      4. 6.3.4 Kering SA

      5. 6.3.5 Nike Inc.

      6. 6.3.6 PVH Corp.

      7. 6.3.7 Adidas AG

      8. 6.3.8 Burberry Group PLC

      9. 6.3.9 Hermès International S.A.

      10. 6.3.10 H & M Hennes & Mauritz AB

      11. 6.3.11 LVMH Moët Hennessy Louis Vuitton

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Menswear Industry Segmentation

Menswear means the clothes that are made for men which include shirts, pants, and seasonal wear as well. The global menswear market is segmented by product type, distribution channel, and geography. Based on product type, the market is segmented into trousers, denim, t-shirts, nightwear, winter wear, sportswear, and other product types. Based on distribution channels, the market is segmented into offline retail stores and online retail stores. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).

Product Type
Trousers
Denims
T-shirts
Winter wear
Sports wear
Other Product Types
Distribution Channel
Offline Retail Stores
Online Retail Stores
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
United Kingdom
Germany
France
Russia
Italy
Spain
Rest of Europe
Asia-Pacific
India
China
Japan
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
South Africa
Saudi Arabia
Rest of Middle-East and Africa
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Menswear Market Research FAQs

The Menswear Market is projected to register a CAGR of 5.89% during the forecast period (2024-2029)

Gap, Inc., Aditya Birla Management Corporation Pvt. Ltd., Nike Inc., Industria de Diseño Textil, S.A. and H & M Hennes & Mauritz AB are the major companies operating in the Menswear Market.

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Menswear Market.

The report covers the Menswear Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Menswear Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

The key considerations for Menswear brands targeting the global market are a) Cultural preferences b) Sizing variations c) Marketing strategies for reaching a diverse international audience

Menswear Industry Report

The menswear market is thriving, propelled by the growing fashion consciousness among men and the ease of e-commerce shopping. This market is diverse, offering everything from casual denims and t-shirts to formal trousers and ethnic wear, appealing to a broad spectrum of consumer preferences. Key trends shaping this market include a surge in demand for sportswear due to a health-conscious shift, and occasion-specific apparel that caters to varied lifestyle needs. The digital shopping revolution further enhances market growth, with online platforms leading the charge by providing convenient access to a wide range of products and high-end brands. Although traditional retail outlets remain significant, the convenience and time-saving appeal of online shopping are drawing more consumers. Additionally, the demand for all-season wear highlights a shift towards versatile and comfortable clothing options. In this competitive landscape, major players are leveraging innovative marketing strategies and partnerships to capture the dynamic fashion preferences of men worldwide, as detailed in industry reports that forecast impressive growth and trends in the menswear sector. Get a sample of this industry analysis as a free report PDF download.

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Menswear Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)