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Menswear Market Size, Share, Growth & Industry Analysis, By Product Type (Apparels, Footwear, Accessories), By Distribution Channel (Multi-Brand Stores, Specialty Stores, Online Retailers, Others) and Regional Analysis, 2024-2031
Pages: 120 | Base Year: 2023 | Release: May 2024 | Author: Ashim L.
Key strategic points
The Global Menswear Market size was valued at USD 546.36 billion in 2023 and is projected to reach USD 924.52 billion by 2031, growing at a CAGR of 6.89% from 2024 to 2031. In the scope of work, the report includes products offered by companies such as Adidas AG, Alex Mill, Burberry Limited, Calvin Klein, Guccio Gucci S.p.A., Hanesbrands Inc., Nike, Inc, Patagonia, Inc., RALPH LAUREN MEDIA LLC, Tommy Hilfiger Licensing, LLC. and Others.
This growth is primarily driven by the increasing fashion consciousness among men and the growing influence of social media on style trends. Additionally, rising disposable incomes in emerging markets facilitate greater spending on apparel. Moreover, the expansion of e-commerce platforms significantly boosts accessibility and convenience for consumers, allowing for a wider reach of diverse menswear styles and brands across different regions.
The global menswear market is experiencing robust growth and is anticipated to expand substantially in the forecast duration (2024-2031). This sector is diversifying through the integration of traditional and casual styles, influenced by changing workplace norms and cultural shifts toward the adoption of more relaxed attires.
Innovations in materials and sustainability practices are prioritized by manufacturers to appeal to environmentally conscious consumers, thereby significantly impacting the market and its offerings.
The market encompasses the sale of apparel specifically designed for men, including a variety of garments, footwear, and accessories. This market caters to adult males of all age groups and spans both mass-market and luxury segments. It covers sales through various channels, including brick-and-mortar stores and digital platforms, addressing both seasonal and year-round clothing needs.
The global menswear market is experiencing robust growth driven by increasing fashion awareness, digital advancements, and sustainability trends. Urbanization and rising incomes in emerging markets are also contributing to market expansion. However, challenges such as supply chain complexities and rapid fashion cycles are impacting the market.
Nonetheless, the market's trajectory remains positive, with significant growth opportunities for brands prioritizing innovation, sustainability, and responsiveness to evolving consumer preferences.
The integration of technology into the fashion industry is transforming the menswear market landscape. Brands are increasingly adopting digital tools, including augmented reality (AR) fitting rooms and AI-driven style assistants, to enhance the shopping experience and personalize customer interactions. This technological shift is improving the accuracy of size fittings, reducing return rates, and allowing companies to gather detailed consumer data.
Due to this, brands possess enhanced capabilities to tailor their designs and marketing strategies to meet the specific preferences and needs of their customers, thereby driving sales and fostering increased customer loyalty.
A significant challenge hindering industry growth is consumer expectations for new and trendy apparel offerings within shorter time frames, leading to overproduction and increased inventory waste.
Moreover, brands are adopting a lean manufacturing approach that emphasizes just-in-time production and more frequent, smaller product drops. This helps them align supply more closely with demand, thereby enhancing responsiveness to changing fashion trends. Furthermore, the incorporation of on-demand manufacturing serves to reduce waste, making the production process more sustainable and cost-effective.
The rise in demand for sustainable fashion is shaping the menswear market dynamics. Consumers, particularly younger generations, are increasingly conscious of their environmental and social impacts, leading to an increased demand for eco-friendly and ethically produced clothing.
Brands are responding to this surging demand by incorporating sustainable practices throughout their supply chains, which encompasses sourcing organic materials and implementing measures to reduce water and energy consumption during manufacturing processes. This trend extends to packaging and distribution, with companies exploring biodegradable packaging and carbon-neutral shipping options.
As sustainability becomes a key differentiator, brands that prioritize eco-conscious practices are gaining favor among discerning consumers. The convergence of traditional style boundaries significantly impacts the market, as casualization and versatility are becoming key considerations for consumers. This trend is further influenced by lifestyle changes such as the rise of remote work and increased focus on comfort.
This shift is evident in the fusion of formal and casual elements in menswear, where tailored pieces are paired with athleisure or streetwear-inspired accents. The acceptance of gender-neutral and unisex fashion further contributes to this trend, offering designs that cater to a broader range of individual styles and preferences. Due to this, the market is experiencing greater diversity and creativity in design offerings.
The global market is segmented based on product type, distribution channel, and geography.
Based on product type, the market is segmented into apparels, footwear, and accessories. The apparels segment led the menswear market in 2023, reaching a valuation of USD 255.97 billion.
The dominance of the segment can be attributed to several factors such as the change in fashion trends and evolving style preferences that consistently stimulate demand for new clothing options among consumers. Furthermore, the increasing adoption of casual and athleisure wear in both formal and informal settings contributes to segment growth.
Additionally, advancements in textile technology and manufacturing processes enable brands to offer a diverse range of high-quality and innovative apparel products. Effective marketing strategies and brand positioning efforts by major players further boost consumer interest and engagement in the apparels segment.
Based on distribution channel, the market is divided into multi-brand stores, specialty stores, online retailers, and others. The multi-brand stores segment secured the largest revenue share of 46.85% in 2023. This expansion is mainly propelled by the diverse product offerings by these stores within a single location, thereby providing consumers with convenience and choice. Moreover, strategic partnerships and collaborations with popular brands enhance the attractiveness of multi-brand stores, appealing to a diverse customer base.
Additionally, the growing trend of experiential shopping, where customers seek personalized and curated shopping experiences, favors the multi-brand store format. Furthermore, investments in omni-channel retailing and digitalization enhance the reach and accessibility of multi-brand stores, thereby contributing to the growth of the segment.
Based on region, the global market is classified into North America, Europe, Asia-Pacific, MEA, and Latin America.
The Asia Pacific Menswear Market share stood around 35.08% in 2023 in the global market, with a valuation of USD 191.66 billion. This dominance in the market is fostered by the presence of densely populated countries such as China and India, characterized by burgeoning middle-class demographics with increasing purchasing power. This growth is leading to an increased demand for fashion and lifestyle products, including menswear.
Additionally, rapid urbanization and digitalization in the market are fueling e-commerce adoption, providing consumers with a convenient platform to access a wide range of menswear offerings. Furthermore, the region's rich textile manufacturing heritage, coupled with its competitive production costs, attracts global brands seeking efficient supply chains, thereby positioning Asia-Pacific as a key hub for the expansion of the menswear industry.
The global menswear market report will provide valuable insight with an emphasis on the fragmented nature of the industry. Prominent players are focusing on several key business strategies such as partnerships, mergers and acquisitions, product innovations, and joint ventures to expand their product portfolio and increase their market shares across different regions.
Strategic initiatives, including investments in R&D activities, the establishment of new manufacturing facilities, and supply chain optimization, could create new opportunities for market growth.
Key Industry Developments
By Product Type
By Distribution Channel
By Region
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