USD 182.66 Billion Potential Growth in Menswear Market | 17,000+ Technavio Reports

Parent Market Overview
Technavio categorizes the menswear market as a part of the apparels, accessories, and luxury goods within the consumer discretionary industry. The growth of apparels, accessories, and luxury goods market mainly is attributed to rising working men population, demand for eco-friendly products, and product innovation and portfolio extension leading to product premiumization.

To estimate the market size of the global menswear market, Technavio has tracked the latest trends and developments in the industry. The segmentation by product, distribution channel, and geography has been reviewed both quantitatively and qualitatively.

Understand the Restaurant Management Market Hierarchy and Gain Further Insights by Downloading Our Sample!

Market Competitive Landscape
The menswear market is fragmented. The degree of fragmentation is likely to intensify in the upcoming years as the vendors are expanding their presence worldwide to compete in the market. Technavio has classified the industry-focused market players into dominant and strong players based on their annual revenues and market shares in this report. Some of the key players covered in this report include H and M Hennes and Mauritz AB, Industria de Diseno Textil SA, Kering SA, Levi Strauss and Co., LVMH Moet Hennessy Louis Vuitton SE, Nike Inc., PVH Corp., Ralph Lauren Corp., The Gap Inc., and VF Corp. among others.

Strategic Initiatives and Products launches

• H and M Hennes and Mauritz AB. - The company offers its clothing, accessories, footwear, cosmetics, home textiles, and homeware to consumers across various geographic segments including Asia and Oceania, Europe and Africa, North and South America, and other segments.
• Kering SA: The company offers various types of products such as watches, handbags, and apparels through its luxury houses segment.
• Nike Inc.: The company offers footwear, apparel, equipment, and others. In the apparel segment, they offer Nike Pro tops and t-shirts, hoodies and pullovers, jackets and vests, pants and tights, shorts, socks, accessories, and equipment for football, basketball, golf, skateboarding, and tennis.

For more insights on competitive strategies and market share of over 20 companies discussed in detail, Get Our Sample Report Right Here!

Value Chain Insights
Vendors in the market can leverage and formulate effective strategies from the menswear market value chain analysis covered extensively in this report. The end-to-end understanding of the value chains and stakeholders involved in the process is essential for vendors in optimizing profit margin and evaluating business strategies. The report has further elucidated on other innovative approaches being followed by vendors to ensure a sustainable market presence.

An elaborated analysis on the following core components covered in this report are:

• Inputs
• Software development process
• Marketing and distribution
• Post-selling services
• Innovation

Want to get this report customized or tailor-made to suit your business requirements, Speak to Our Analysts

Growing Number of Marketing Campaigns to Boost the Market Positively
Vendors in the menswear market are increasingly focusing on launching innovative marketing campaigns to improve their visibility and brand value among the millennial digitally-inclined target customers. Social media platforms including Facebook and Instagram are increasingly being deployed for marketing campaigns to engage customers. In-store marketing also plays a key role in the growth of the market as promotions are executed in the forms of signages and audio-visuals, among others. Furthermore, the growing adoption of smartphones and tablets, and the rise in the popularity of social media platforms, and increased penetration of the Internet will eventually boost the market's growth in the upcoming years.

Changes in trade policies and tariffs likely to hinder the menswear market growth
Changes in political and ruling parties in prominent markets lead to changes in trade policies and tariffs. These changes adversely affect business potentials in the global apparel market, including the global menswear market. Changes in import tariffs in the US may lead to alterations in business operations, such as a shift of production units from developing to developed countries. Such factors may lead to heavy expenses for vendors, thus causing supply-demand imbalance and an increase in production cost.

Download Report Sample Now to gain more insights on the other factors influencing market growth

COVID Impact and Recovery Analysis
The outbreak of COVID-19 in 2020 hindered the growth of the regional menswear market. Owing to the lockdowns and stringent social distancing norms, production in the manufacturing industries in APAC was halted. As manufacturing units for menswear production were temporarily closed to curb the spread of COVID-19, the regional menswear market growth was affected in 2020. In 2021, the region's lockdown limitations were relaxed, which restored the supply chain. This is expected to boost the growth of the regional menswear market during the forecast period.

View report to learn more about the pandemic impact on the market and the industry

Revenue-Generating Segment Highlights
The top wear segment held the largest menswear market share in 2020. The segment will continue to retain its dominance in the market due to factors including smaller replacement cycles of top wears including includes shirts, t-shirts, sports shirts, tank tops, sweaters, vests, sweatshirts, and work shirts. Vendors in the global market are expected to provide customized men's top wear, which will aid the growth of the global menswear market.

In terms of distribution channel, the offline segment emerged as the largest revenue-generating segment in 2020 and will continue to remain as the largest segment during the forecast period.  Offline distribution channel, also known as the organized retailing channel, holds a major share of the menswear sales across the world.  The offline distribution channel comprises specialty stores, department stores, hypermarkets, and warehouse clubs. Vendors operating in the global menswear market extensively invest in organized retail stores, especially brand-owned, to maximize their regional and global share. Such investments help vendors to increase their market reach and customer base in the global market.

APAC will emerge as the largest revenue-generating regional segment of the menswear market. 39% of the market's growth will be contributed from this region during the forecast period. China, India, Japan, Australia, and South Korea are some of the prominent markets in the region, as they contribute to the growth of the market. Customers are extensively opting for branded menswear due to their affordable price and easy availability. Furthermore, growing urbanization and increasing disposable income are extensively driving the growth of the menswear market in the region. The US, China, India, Germany, and Mexico will emerge as the revenue-contributing economies of this market.

Download Sample Report for Market Share Information of each contributing segment and top 20+ countries covered exclusively in this report

Key Report Takeaways

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive menswear market growth during the next five years
• Precise estimation of the menswear market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the menswear market in North America, APAC, Europe, MEA, and South America and top 20 countries across these regions
• A thorough analysis of the market's competitive landscape and detailed information on over 20 industry-focused market vendors classified as dominant and strong players
• Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
• Pre as well as post COVID-19 market estimates
• Optimistic, base case, and pessimistic scenarios for all markets as the impact of pandemic unfolds

Related Reports

Men's Coats, Jackets, and Suits Market by Distribution Channel and Geography - Forecast and Analysis 2020-2024

Non-store and Online Menswear Market by Product and Geography - Forecast and Analysis 2020-2024

Men's Top Wear Market by Distribution Channel and Geography - Forecast and Analysis 2020-2024

Men's Swimwear Market by Distribution channel and Geography - Forecast and Analysis 2020-2024

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email:[email protected]
Website: https://www.technavio.com

SOURCE Technavio