The global men’s wear market size is
expected to reach USD 741.2 billion by 2025, according to a new report by Grand
View Research, Inc., expanding at a CAGR of 6.3% over the forecast period.
Growing importance of personal grooming among adults on account of increased
number of campaigns for maintaining formal as well as casual styles on social
media websites including Instagram and Pinterest is expected to have a strong
impact. Furthermore, these products have been gaining increasing traction among
the consumers on account of their frequent purchases through e-commerce portals
including Amazon and eBay as a selling medium.
Increasing number of
fashion shows across the globe including Paris, New York, London, Los Angeles,
Rom, Milan, Barcelona, and Berlin has made sure to garnish men’s fashion with
apt attention and publicity. Furthermore, some of the magazines including ZQ, Men’s
Vogue, Fantastic Man, and Nylon Guys are playing a crucial role in increasing
awareness among buyers.
Clothing or apparel held
the largest men’s wear market share in 2018 and is expected to remain a
dominant segment over the next few years. Product innovation by key
manufacturing firms aimed at targeting the consumers with their traditional
values is expected to remain a favorable factor for the industry growth. In
January 2018, Raymond Group launched Khadi products under the brand names,
Ethnix and Next Look. These brands will offer products such as shirts,
trousers, long kurtas, short kurtas, and bandh galas, which are available in a
price range of INR 3,000 - 14,000.
Asia Pacific is expected
to register the fastest CAGR of 6.6% from 2019 to 2025. High concentration of
middle-class population in the countries including China, India, Pakistan, and
Bangladesh is expected to remain a key driving factor. Furthermore, the number
of working class male adults using smartphones for purchasing their daily consumables
is increasing. This, in turn, expected to force the industry participants to
increase spending on the development of their e-commerce portals in order to
ensure the continuous revenue flow in the near future.
Some of the key players
operating in the global men’s wear market are Adidas Group; Raymond Group;
Calvin Klein; Gianni Versace S.r.l.; Guccio Gucci S.p.A.; HUGO BOSS; LACOSTE;
LEVI STRAUSS & CO.; Nike, Inc.; RALPH LAUREN MEDIA LLC; and Tommy Hilfiger,
LLC. Product innovation is expected to remain a key strategy among the industry
participants in the near future.
To request a sample copy or view summary of this report,
click the link below:
https://www.grandviewresearch.com/industry-analysis/mens-wear-market
https://www.grandviewresearch.com/industry-analysis/mens-wear-market
Further key findings from the report suggest:
· By product, the footwear segment is
expected to generate a revenue of more than USD 280 billion by the end of 2025
· Online channel is expected to expand at the
fastest CAGR of 11.4% from 2019 to 2025
· North America generated a revenue of USD
148.5 billion in 2018.
Grand View Research has
segmented the global men’s wear market on the basis of product, distribution
channel, and region:
Men’s Wear Product Outlook (Revenue, USD Billion,
2015 - 2025)
·
Clothing/Apparel
·
Accessories
·
Footwear
Men’s Wear Distribution Chanel Outlook (Revenue, USD
Billion, 2015 - 2025)
·
Offline
·
Online
Men’s Wear Regional Outlook (Revenue, USD Billion,
2015 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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