Originally published on Technavio:Men's Underwear Market Analysis Across APAC, North America, Europe, Middle East, and Africa, South America - US, Canada, India, China, UK - Size and Forecast 2024-2028**

 

The men's underwear market is projected to witness a growth of USD 11.65 billion, with a Compound Annual Growth Rate (CAGR) of 5.43% from 2023 to 2028. Market growth is influenced by factors such as increased health and hygiene awareness, the surge in demand for cotton-based underwear, and a growing preference for natural and high-quality innerwear for men.

 

Key Market Driver

The surge in health and hygiene consciousness is a crucial factor driving market growth. The increasing number of young men engaging in physical exercises, such as sports and fitness, likely to opt for functional underwear, is expected to contribute significantly to market growth. Additionally, heightened awareness of health risks associated with prolonged underwear use is expected to further stimulate the global men's underwear market.

 

Key Market Trends

Growing investments and product launches by players are primary trends shaping market growth. Companies are intensifying Research and Development (R&D) efforts to create products catering to various body types and sizes. Major players like Jockey, Hugo Boss, Ralph Lauren Corp., PVH Corp., etc., are investing in sophisticated tailoring and utilizing new modal fabrics such as viscose and merino wool to enhance comfort and reduce moisture. For example, Calvin Klein, a PVH Corp. subsidiary, launched an Autumn 2022 campaign featuring undergarments and jeans with a modern take on wireless comfort using recycled materials. New product launches and investments will boost market growth during the forecast period.

 

Key Market Challenge

Issues related to purchasing the product present a challenge affecting market growth. Difficulties associated with buying underwear from retail stores, due to limited product choices in developing regions, hinder the growth of the global market. Moreover, the inability to try or feel the product before making an online purchase is another factor likely to impede market development during the forecast period.

 

Market Customer Landscape

 

The market forecasting research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

 

Global Market Customer Landscape

Companies are adopting various strategies, including strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

 

American Eagle Outfitters Inc: The company offers men's undergarments such as pocket boxers and boxer shorts.

 

The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

 

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

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The boxer brief segment is estimated to witness significant growth during the forecast period. Boxer briefs combine the characteristics of both boxers and briefs, offering a comfortable, supportive, and modern silhouette favored by men of all age groups. Their popularity has risen due to increasing awareness of comfort and breathability, supported by the use of premium materials and advanced fabric technologies. The boxer brief segment, valued at USD 11.15 billion in 2018, is expected to drive global market growth during the forecast period.

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