Global Men’s Suits Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Men’s Suits Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Men's suits are the clothes that men wear when they attend important parties or meetings on some formal or informal occasions.

Market Overview:

The latest research study on the global Men’s Suits market finds that the global Men’s Suits market reached a value of USD 46907.11 million in 2022. It’s expected that the market will achieve USD 54668.0 million by 2028, exhibiting a CAGR of 2.58% during the forecast period.

Drivers

With the development of the economy, the advancement of technology, and the improvement of people's living standards, people are more willing to buy high-quality clothes as their purchasing power increases. Elegant and fashionable suits are no longer the exclusive environment for business white-collar workers, but have become the common needs of the public; at the same time, the material requirements for clothes are getting higher and higher; these factors are driving the development of the suit industry;
In addition, in developed markets, they have more international companies, good channels, high market maturity, fierce competition, highly competent management team, technical and financial advantages, continuous innovation, and prominent market participants. Investing heavily in R&D and introducing their products with new technologies, all of which have created an increasing market demand for suit market.

Opportunities

Customized suit
With the advancement of science and technology and more advanced materials, consumers are more inclined to customize suits, each with different body characteristics. Tailor-made is always more satisfying than ready-to-wear. Personalization not only needs to experience differences in style, layout, craftsmanship, and size but also needs to satisfy individualized design (such as collar, fabric, lining, pocket, stitching, etc.), you can choose the fashion ready-to-wear version to add personalized elements to truly meet the individual needs of different types of consumers.
Emerging countries
For example, China, India are developing their industries, with the progress of economy and technology, the increasing demand downstream, such as the increase of the costume industry, the market of Men’s Suits has great market potential in the future.

Region Overview:

North America is projected to account for a considerable share of the Men’s Suits market and is expected to become the largest region by 2028.

Company Overview:

Kering is one of the major players operating in the Men’s Suits market, holding a share of 1.66% in 2023.

Kering

Kering SA develops, designs, manufactures, markets, and sells apparel and accessories worldwide. The company offers shoes; leather goods, including handbags and wallets, and other leather products; eyewear and textile accessories; jewelry and watches; and outerwear, denims, T-shirts, and formalwear for men, as well as ready-to-wear products for women.

Giorgio Armani S.p.A.

Giorgio Armani S.p.A. provides clothes and accessories for men and women. It offers women clothing products, such as coats, outerwear, jackets, skirts, denims, nightwear, trousers, leather and fur, tops and blouses, T-shirts and sweatshirts, dresses, and beachwear; suits, shirts, coats, outerwear, jackets, denims, trousers, nightwear, T-shirts and sweatshirts, leather and furs, and beachwear for men’s; and kids wear products.

Segmentation Overview:

By type, Formal segment accounted for the largest share of market in 2022.

Application Overview:

The market's largest segment by application is the segment Commercial, with a market share of 81.49% in 2022.

Key Companies in the global Men’s Suits market covered in Chapter 3:

Hugo Boss AG
Christian Dior SE
Hickey Freeman
Ermenegildo Zegna
Valentino
Tom Ford
Brion
Dolce & Gabbana
Versace
Canali
Kiton
Ralph Lauren
Giorgio Armani S.p.A.
Kering
Prada

In Chapter 4 and Chapter 14.2, on the basis of types, the Men’s Suits market from 2018 to 2029 is primarily split into:

Formal
Informal

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Men’s Suits market from 2018 to 2029 covers:

Personal
Commercial

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)