Mens Wear Market Size, Share, Global Market Research and Industry Forecast Report, 2025 (Includes Business Impact of COVID-19)

                                          
Industry Insights, Market Size, CAGR, High-Level Analysis: Mens Wear Market


The global mens wear market size was valued at USD 483.0 billion in 2018 and is anticipated to expand at a CAGR of 6.3% over the forecast period. The growth of the market can be attributed to increasing fashion consciousness among millennial men. The designers have enhanced their focus on the masculine aspect of the society owing to its potential for bearing higher prices.

A boosted exposure to internet and e-commerce has improved the fashion consciousness and availability of high-end brands and rare products. Over the past few years, the companies have been targeting mens wear as a result of growing purchasing power in emerging economies including China and India. Along with brands targeting mens wear including Ralph Lauren, Burberry, and Armani, recognized designers also view mens wear as a market with immense potential.

Tom Fords, Michael Kors, and Sean Combs are few brands that are focused on the mens wear segment. The styles and trends in the market have been constant for a while and have not undergone many changes and a lot can be explored. Fashion consciousness among men is increasing owing to the omnichannel route for marketing fashion brands.

Fashion shows across the globe including Paris, New York, London, Los Angeles, Rom, Milan, Barcelona, and Berlin have made sure to garnish mens fashion with apt attention and publicity. Furthermore, fashion magazines such as ZQ, Mens Vogue, Fantastic Man, and Nylon Guys have entered the picture and are contributing to the growth of mens fashion and clothing.

Product Insights of Mens Wear Market

The clothing/apparel segment held the largest share of 44.7% in 2018. This product category comprises upper wear, lower wear, sportswear, active wear, innerwear, sleepwear, and ethnic wear. Upper wear includes jackets, coats, blazers, suits, vests, shirts, t-shirts, polos, sweaters, jumpers, cardigans, hoodies, sweatshirts, jerseys, tanks, thermals, and pullovers.

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 mens wear market growth. Furthermore, growing importance of advanced apparel fortified with polymer composite materials including Spandex is one of the prominent trends in the market.
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. The market for expensive bags, belts, purses, cufflinks, and watches has bounced from economic uncertainties and geopolitical crisis. Men are more than ready to pay for quality and brand, thus creating an up thrust in the market.

Distribution Channel Insights

Offline distribution channel accounted for the largest share of 83.3% in 2018 owing to exposure and accessibility to the largest number of shoppers. A certain section of the society, mostly generation X, is not so comfortable with buying clothes online. In addition, season clearance sales and instant availability are able to lure the customers towards this distribution channel.

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. In addition, most of these online shopping spaces have a collaboration with various other banks, which offer different payment modes and extra discounts when payments are made using a specific medium. Due to this, banks and other payment channels have been promoting themselves via these e-commerce websites, thereby leading to extra marketing and enhancing the overall sales.

Regional Insights of Mens Wear Market

North America held the largest market share in 2018 owing to higher purchasing power parity in the region as compared to others. Furthermore, U.S. has immense number of brands actively functioning in the market, which includes Ralph Lauren, Calvin Klein, Tommy Hilfiger, and Hollister. Thus, the global market has deep roots in the region and has a huge influence across the globe.

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. Furthermore, increasing ability to pay for its requirements are adding to the growth of the market. The Chinese and Korean manufacturers are manufacturing copies of expensive brands and making it available to people, which has been driving the market.

Market Share Insights of Mens Wear Market

Some of the key players operating in the global market include 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. The omni-channel marketing by the active players has been making a positive impact on the market growth. New fashion trends for common men such as ˜smart casuals and ˜formals are the new trends among the common mass.

An endeavor towards achieving this goal has made sure that these active participants leave no stone unturned. Celebrity endorsements, specific characters from movies, and reality shows, soaps, and series are often shown a certain pattern of dressing, leaving strong impression on the viewers. To complement this, the celebrities can be seen endorsing looks specific to venue such as airport look, gym look, and vacation look.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Mens Wear Market Research Report
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis on the latest industry trends and opportunities in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global mens wear market report on the basis of product, distribution channel, and region:

Product Outlook (Revenue, USD Billion, 2019 - 2030)

  
Clothing/Apparel
  
Accessories
  
Footwear

Distribution Channel Outlook (Revenue, USD Billion, 2019 - 2030)

  
Offline
  
Online