Men's Wear Market Report and Forecast 2023-2028

According to the report the global men’s wear market reached a value of USD 567.7 billion in 2022. Aided by the evolving consumer trends in fashion and the expanding applications of men's wear in diverse sectors, the market is projected to further grow at a CAGR of 5.27% between 2023 and 2028 to reach a value of USD 750.34 billion by 2028.

Men's wear encompasses a broad range of clothing items and accessories designed for the male demographic. This includes products like trousers, shirts, jackets, suits, casual wear, sportswear, footwear, and other accessories. The fashion industry's role in societal, cultural, and personal expression, coupled with an increased focus on appearance and style, has made men's wear an essential segment in the global clothing market.

The increasing consumer trend towards fashionable and comfortable attire is driving the global men's wear market growth. With growing awareness about personal grooming and appearance, there has been a significant shift towards trendy and high-quality clothing, leading to a surge in demand for diverse men's wear. Moreover, the rising trend of casual workplaces and the growing popularity of sportswear as everyday attire have further contributed to the increasing demand for men's wear.

The expanding applications of men's wear across various industries also play a significant role in increasing the men’s wear market demand. In the corporate sector, formal men's wear, such as suits and blazers, are necessary for maintaining a professional image. On the other hand, industries like sports and fitness extensively utilise specialised men's wear like sports jerseys, tracksuits, and fitness apparel.

Moreover, the growth of e-commerce and digital marketing strategies has revolutionised the market for men's wear. Online retail platforms provide consumers with a wide variety of choices, convenience, and competitive prices, thus boosting the men’s wear market expansion. With virtual reality and augmented reality technologies being incorporated into online shopping, consumers can now virtually 'try on' clothing, enhancing their shopping experience and leading to increased sales.

The rise of sustainable and ethical fashion is another factor pushing the men's wear market forward. As consumers become more conscious about the environmental and social impacts of their purchasing decisions, brands are responding by implementing sustainable practices in their supply chains, including using eco-friendly materials and ensuring fair labour conditions.

Market Segmentation

The market can be divided based on product, distribution channel, and region.

Market Breakup by Product

• Trousers
• Denims
• Shirts and T-Shirts
• Ethnic Wear
• Winter Wear
• Others

Market Breakup by Distribution Channel

• Supermarkets and Hypermarkets
• Exclusive Stores
• Multi-Brand Retail Outlets
• Online Stores
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global men’s wear companies. Some of the major key players explored in the report are as follows:

• Adidas AG
• Burberry Group Plc
• Balenciaga SA
• Giorgio Armani S.p.A
• H & M Hennes & Mauritz GBC AB
• Kering
• Levi Strauss & Co.
• Nike, Inc.
• Prada S.p.A
• Ralph Lauren Corporation
• Others

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*The publisher always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.