In 2023, the global men’s underwear market is projected to be valued at USD 38.96 billion, with expectations to exceed USD 65.3 billion by 2033, growing at a CAGR of 5.3%. Several key factors are driving the market’s growth, including rising awareness of men’s health, increased demand for premium underwear, and evolving fashion trends.
Heightened health awareness has led to greater demand for underwear that offers superior comfort and support. Additionally, as consumer purchasing power rises, there is a growing willingness to invest in premium products, boosting demand for high-quality men’s underwear. Moreover, shifting fashion trends are contributing to the increased popularity of stylish and trendy underwear options.
The men’s underwear industry faces challenges like fierce competition, high raw material costs, and the rise of counterfeit products. Established brands must constantly fight to maintain market share, fueling intense rivalry. Additionally, the high prices of raw materials like cotton, silk, and polyester drive up production costs, impacting product pricing. The growing prevalence of counterfeit goods undermines the reputation of legitimate brands.
On the positive side, emerging markets such as China and India present significant growth opportunities, thanks to large populations and rising consumer purchasing power. The growing demand for sustainable and eco-friendly products also offers a niche market for brands to explore.
Trends shaping the industry include the rise of athleisure, innovative materials, and new design patterns. Athleisure’s popularity has increased demand for comfortable, supportive underwear, as consumers seek multifunctional clothing for everyday wear.
Key Takeaways from the Men’s Underwear Market
The demand for men’s underwear in the United States is predicted to rise at a CAGR of more than 6.5%between 2023 and 2033.
In the United Kingdom, the men’s underwear sector is expected to develop at a CAGR of more than 5%.
During the forecast period, the men’s underwear market in Thailand is anticipated to expand at a CAGR of over 3%.
The cotton segment is expected to dominate the market with a CAGR of more than2% over the projected period.
The boxer briefs category is likely to rise at a CAGR of 8.2%throughout the evaluation period.
The XXL segment is expected to increase at a CAGR of more than 5% over the projection period.
Key Companies Profiled
Hanesbrands Inc.
Philips-Van Heusen Corporation
Ralph Lauren Corporation
Jockey International Inc.
American Eagle Outfitters Inc
Iconix Brand Group Inc.
Penney Corporation Inc.
Under Armour, Inc.
RibbedTee Company
Ramblers Far, Inc.
Levi Strauss & Co.
Perry Ellis International Inc.
Naked Brand Group Inc.
Recent Developments in the Market
In August 2022, Calvin Klein launched the ‘Autumn 2022’ campaign, showing the latest underwear and jeans styles. The series is intended for everyday usage, with a modern aesthetic and a mix of recyclable materials to give wireless comfort.
In April 2022, Hanes brand, Inc. could introduce the new ‘X-Temp Full Support Pouch’ men’s underwear with cooling fabric and breathable mesh panels, as well as quick-drying and moisture-wicking qualities.
Jockey International Inc. collaborated with Olympic gold winner Usain Bolt to create a new style of underwear, which attracted extensive media attention and aided in brand exposure.
Buttercloth, a Shark Tank menswear startup, produced the first underwear with cooling chilly cotton fabric in 2021.
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Key Segments Profiled
By Material:
- Cotton
- Wool
- Silk
- Polyester
- Rayon
- Linen
- Nylon
- Others
By Category:
- Regular Brief
- Boxer Brief
- Boxer Shorts
- Trunks
- Thongs
By Sales Channel:
- Wholesalers/ Distributors
- Hypermarkets/Supermarkets
- Specialty Stores
- Multi-brand Stores
- Online Retailers
- Others
By Price Range:
- Below US$10
- US$ 10 to US$ 20
- US$ 20 to US$ 30
- US$ 30 & Above
By Age Group:
- 15 to 25
- 26 to 35
- 36 to 45
- 46 to 55
- 56 to 65
- 65+
By Size:
- XS
- S
- M
- L
- XL
- XXL
- XXXL
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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