Men's Underwear Market Size, Share & Trends Analysis Report By Type (Briefs, Boxer Brief, Trunks, Boxers), By Fabric, By Region, And Segment Forecasts, 2023 - 2030

Men's Underwear Market Size, Share & Trends Analysis Report By Type (Briefs, Boxer Brief, Trunks, Boxers), By Fabric, By Region, And Segment Forecasts, 2023 - 2030

Men’s Underwear Market Growth & Trends

The global men’s underwear market size is expected to reach USD 56,684.1 million in 2030, registering a CAGR of 5.4% from 2023 to 2030 according to a new report by Grand View Research, Inc. Increasing awareness about health, best fit, and personal hygiene coupled with the growing millennial population are the factors expected to drive the growth. The increasing availability of a wide range of products and designs, suitable for various purposes including sports, regular wear, and functional wear among others is anticipated to further fuel the product demand.

Improving fashion trends, increasing disposable income, and changing consumer lifestyles along with preferences are expected to boost market growth. Increasing concern regarding the fabric used for the manufacturing of underwear is one of the major factors driving the market. The availability of products in a variety of fabrics such as cotton, polyester, nylon, rayon, silk, and cotton blends is driving the product demand. Manufacturers focus on intimate product designs and patterns such as thongs, C-string, tanga, and jockstraps among others to cater to a larger consumer base.

Global men’s underwear market has been negatively impacted due to the lockdowns imposed in several countries during the COVID-19 outbreak. The manufacturing companies faced lot of challenges owing to the interruptions in component supply. Also, several countries witnessed curfew-like situations where businesses were not allowed to operate. Several European countries witnessed a decrease in the sales of men’s underwear in 2020.

For instance, according to an article published in Fibre2Fashion, a market-driven B2B portal, the U.K. saw a decline of around 7.0% in overall underwear sales in 2020 as compared to 2019. However, the most significant decline in underwear sales in 2020 was witnessed in Central and South America as well as the Middle East & Africa. However, the market is expected to eventually return to the pre-pandemic situation as people resume their normal life This is anticipated to impact positively during the forecast period.

The Boxer brief type segment led the market share in 2022 and are expected to witness progressive growth in demand during the forecasted period. The Boxer brief type segment accounted for the leading market share of more than 33.6% in 2022 and is expected to witness significant growth in the near future. Boxer briefs are available in a wide range of fabrics such as cotton, microfiber blends, and polyamide with the right amount of spandex for correct stretch, which makes them more comfortable.

Modal fabric is anticipated to register the fastest CAGR of 5.8% during the forecast period. It is a type of rayon and second-generation regenerated cellulosic fiber which is around 50.0% more absorbent than cotton. It is the softest fabric in the segment. Shrink resistance, high wet strength, and absorbent properties of the fabric make it more durable during multiple washes and even tumble drying.

In 2022, Asia Pacific led with a market share of around 41.5% and is anticipated to witness a significant CAGR in near future. In Asia Pacific, China contributed to the majority of the share and accounted for 43.3% share of the overall revenue in 2022. North America is the second fastest-growing regional market and is expected to grow at a CAGR of 5.3% during the forecast period. Companies are focusing more on innovation and quality of designs as well as fabrics. A high preference for premium brands as well as limited editions in North America and Europe have contributed to the significant growth of the global market.

Companies focus on product innovations to meet the rising product demand and to set trends. Strategic initiatives such as mergers and acquisitions help key players to gain a foothold in developing economies.

Men’s Underwear Market Report Highlights

• The Boxer brief type segment led the market share in 2022 and is expected to witness progressive growth in demand during the forecast period. The Boxer brief type segment accounted for the leading market share of more than 33.6% in 2022 and is expected to witness significant growth in the near future
• Modal fabric is anticipated to register the fastest CAGR of 5.8% during the forecasted period. It is a type of rayon and second-generation regenerated cellulosic fiber which is around 50.0% more absorbent than cotton. It is the softest fabric in the segment
• Asia Pacific led with a market share of around 41.5% and is anticipated to witness a significant CAGR in near future. In Asia Pacific, China contributed to the majority of share and accounted for 43.3% share of the overall revenue in 2022