Men’s Apparel

Men’s Apparel

Global Men’s Apparel Market to Reach US$762.6 Billion by 2030

The global market for Men’s Apparel estimated at US$557.5 Billion in the year 2023, is expected to reach US$762.6 Billion by 2030, growing at a CAGR of 4.6% over the analysis period 2023-2030. Trousers, one of the segments analyzed in the report, is expected to record a 6.0% CAGR and reach US$198.1 Billion by the end of the analysis period. Growth in the Suits, Blazers & Coats segment is estimated at 3.1% CAGR over the analysis period.

The U.S. Market is Estimated at US$147.4 Billion While China is Forecast to Grow at 7.1% CAGR

The Men’s Apparel market in the U.S. is estimated at US$147.4 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$165.1 Billion by the year 2030 trailing a CAGR of 7.1% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.0% and 3.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.5% CAGR.

Global Men’s Apparel Market - Key Trends and Drivers Summarized

Men`s wear encompasses apparel and accessories designed for men. This includes a variety of clothing items, particularly tailored garments. The menswear market is experiencing significant growth, driven by increasing disposable income, evolving consumer behavior, and technological advancements. As men become more fashion-conscious and willing to invest in their appearance, the demand for high-quality, stylish clothing continues to rise. Key wardrobe essentials remain popular, but the influence of trends and the desire for unique styles are shaping the market. Increasing disposable income and a growing middle class in emerging economies have significantly expanded the customer base for men`s fashion. Consumers are now more willing to spend on high-quality, branded apparel, leading to a surge in demand for premium and luxury men`s clothing. Additionally, the rise of e-commerce has made it easier for men to access a wide range of apparel options, further boosting market growth. Online platforms offer convenience, a broader selection, and competitive pricing, attracting a larger segment of male shoppers.

Another major driver is the shifting societal norms and increased fashion consciousness among men. Men are increasingly seeking unique styles and high-quality garments that reflect their personality and fashion sense. This demand for variety has encouraged designers and manufacturers to innovate and diversify their offerings, catering to a wide range of tastes and preferences. As a result, the menswear market has seen a proliferation of new styles and innovative designs, further driving its growth. The trend is partly influenced by the media and the fashion industry`s targeted marketing campaigns that emphasize the importance of style and personal grooming. The rise of social media platforms has also played a significant role, with influencers and celebrities showcasing the latest trends and styles, inspiring men to experiment with their looks and keep up with fashion trends.

Technology is poised to play a transformative role in the future of menswear, bringing numerous benefits to both consumers and the industry. One of the most significant advancements is the integration of smart fabrics and wearable technology into clothing. These innovations offer enhanced functionality, such as adaptability to changing weather conditions, moisture-wicking properties, and integrated fitness tracking. These innovations not only enhance the functionality of men`s apparel but also cater to the growing demand for performance and activewear. The use of durable materials and advanced manufacturing techniques also ensures that men`s clothing can withstand wear and tear, extending the lifespan of garments. Sustainability is emerging as important trends in the men’s apparel market. Consumers are becoming more environmentally conscious and are seeking out sustainable and ethically produced clothing. Brands are responding by incorporating eco-friendly materials, adopting sustainable manufacturing practices, and emphasizing transparency in their supply chains. Looking ahead, technology will play a crucial role in advancing menswear, offering enhanced functionality, durability, and personalized options. This dynamic industry is set to continue its upward trajectory, supported by innovation and a growing consumer base.

Select Competitors (Total 226 Featured) -

• Arvind Ltd.
• Benetton Group Srl
• Bombay Dyeing & Manufacturing Co., Ltd.
• Bruno Banani Underwear GmbH
• Calvin Klein, Inc.
• Gap, Inc.
• G-III Apparel Group Ltd.
• Giorgio Armani SpA
• Guccio Gucci SpA
• Guess, Inc.
• Helly Hansen AS
• Hugo Boss AG
• Levi Strauss & Co.
• Marni Group Srl
• Nike, Inc.
• Perry Ellis International, Inc.
• PVH Corporation
• Raymond Ltd.
• Reebok International Ltd.
• Thanulux Public Company Limited
• Valentino SpA
• Zumiez, Inc.

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