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.
