The global Men’s Wear market size is expected to be worth around US$ 750.8 billion by 2030, according to a new report by Vision Research Reports.
The global Men’s Wear market size was valued at US$ 500.05 billion in 2020 and is anticipated to grow at a CAGR of 6.3% during forecast period 2021 to 2030.
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The global Men’s Wear market size is expected to be worth around US$ 750.8 billion by 2030, according to a new report by Vision Research Reports.
The global Men’s Wear market size was valued at US$ 500.05 billion in 2020 and is anticipated to grow at a CAGR of 6.3% during forecast period 2021 to 2030.
Report Coverage
| Report Scope | Details |
| Market Size | US$ 750.8 Bn by 2030 |
| Growth Rate | CAGR of 6.3% From 2021 to 2030 |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Product, Distribution Channel |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | Adidas Group; Calvin Klein; Gianni Versace S.r.l.; Guccio Gucci S.p.A.; Raymond Group; HUGO BOSS; LACOSTE; LEVI STRAUSS & CO.; Nike, Inc.; RALPH LAUREN MEDIA LLC; and Tommy Hilfiger, LLC |
Growth Factors
Growing importance of personal grooming among adults on account of increased number of campaigns for maintaining formal as well as casual styles on social media websites including Instagram and Pinterest is expected to have a strong impact. Furthermore, these products have been gaining increasing traction among the consumers on account of their frequent purchases through e-commerce portals including Amazon and eBay as a selling medium.
Increasing number of fashion shows across the globe including Paris, New York, London, Los Angeles, Rom, Milan, Barcelona, and Berlin has made sure to garnish men’s fashion with apt attention and publicity. Furthermore, some of the magazines including ZQ, Men’s Vogue, Fantastic Man, and Nylon Guys are playing a crucial role in increasing awareness among buyers.
By Product Analysis
The clothing/apparel segment held the largest share of 45.7% in 2020. This product category comprises upper wear, lower wear, sportswear, active wear, innerwear, sleepwear, and ethnic wear.
Lower wear includes trousers, shorts, jeans, pants, tights, three-fourths, and cargos. Growing application of sports apparel among adults as a result of increasing health awareness among the working class population is expected to have a positive impact on the men’s wear market growth.
The accessories segment is expected to witness the fastest growth over the forecast period. This growth is attributed to growing demand for luxury and high end products among the millennials and high net worth individuals.
By Distribution Channel Analysis
Offline distribution channel accounted for the largest share of 83.3% in 2018 owing to exposure and accessibility to the largest number of shoppers.
Online distribution channel is anticipated to witness significant growth in the coming years on account of availability of newest trends, rarest brands, and most in demand apparel vogues at the most convenient price, along with biggest discounts.
By Regional Analysis
North America held the largest market share in 2018 owing to higher purchasing power parity in the region as compared to others.
Asia Pacific is expected to expand at a CAGR of 6.6% from 2019 to 2025. This scenario is attributed to growing establishment of offline and online players in the women wear market.
Key Players
Adidas Group; Calvin Klein; Gianni Versace S.r.l.; Guccio Gucci S.p.A.; Raymond Group; HUGO BOSS; LACOSTE; LEVI STRAUSS & CO.; Nike, Inc.; RALPH LAUREN MEDIA LLC; and Tommy Hilfiger, LLC.
Market Segmentation
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Report Coverage
| Report Scope | Details |
| Market Size | US$ 750.8 Bn by 2030 |
| Growth Rate | CAGR of 6.3% From 2021 to 2030 |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Product, Distribution Channel |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | Adidas Group; Calvin Klein; Gianni Versace S.r.l.; Guccio Gucci S.p.A.; Raymond Group; HUGO BOSS; LACOSTE; LEVI STRAUSS & CO.; Nike, Inc.; RALPH LAUREN MEDIA LLC; and Tommy Hilfiger, LLC |
Growth Factors
Growing importance of personal grooming among adults on account of increased number of campaigns for maintaining formal as well as casual styles on social media websites including Instagram and Pinterest is expected to have a strong impact. Furthermore, these products have been gaining increasing traction among the consumers on account of their frequent purchases through e-commerce portals including Amazon and eBay as a selling medium.
Increasing number of fashion shows across the globe including Paris, New York, London, Los Angeles, Rom, Milan, Barcelona, and Berlin has made sure to garnish men’s fashion with apt attention and publicity. Furthermore, some of the magazines including ZQ, Men’s Vogue, Fantastic Man, and Nylon Guys are playing a crucial role in increasing awareness among buyers.
By Product Analysis
The clothing/apparel segment held the largest share of 45.7% in 2020. This product category comprises upper wear, lower wear, sportswear, active wear, innerwear, sleepwear, and ethnic wear.
Lower wear includes trousers, shorts, jeans, pants, tights, three-fourths, and cargos. Growing application of sports apparel among adults as a result of increasing health awareness among the working class population is expected to have a positive impact on the men’s wear market growth.
The accessories segment is expected to witness the fastest growth over the forecast period. This growth is attributed to growing demand for luxury and high end products among the millennials and high net worth individuals.
By Distribution Channel Analysis
Offline distribution channel accounted for the largest share of 83.3% in 2018 owing to exposure and accessibility to the largest number of shoppers.
Online distribution channel is anticipated to witness significant growth in the coming years on account of availability of newest trends, rarest brands, and most in demand apparel vogues at the most convenient price, along with biggest discounts.
By Regional Analysis
North America held the largest market share in 2018 owing to higher purchasing power parity in the region as compared to others.
Asia Pacific is expected to expand at a CAGR of 6.6% from 2019 to 2025. This scenario is attributed to growing establishment of offline and online players in the women wear market.
Key Players
Adidas Group; Calvin Klein; Gianni Versace S.r.l.; Guccio Gucci S.p.A.; Raymond Group; HUGO BOSS; LACOSTE; LEVI STRAUSS & CO.; Nike, Inc.; RALPH LAUREN MEDIA LLC; and Tommy Hilfiger, LLC.
Market Segmentation
Reasons to Purchase this Report:
– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
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