The global men’s underwear market size is projected to touch USD 42.22 billion by the end of 2025, according to a new report released by Million Insights. It is estimated to grow at a CAGR of 5.3% from 2019 to 2025. The market growth is attributed to the easy accessibility of a wide range of designs and products used as sportswear and daily wear. The growing concerns among millennials for health benefit, fitness and personal hygiene are driving the product demand.
Factors such as fashion trends, increasing per capita income, growth of modern retail segments and changing customer preferences are projected to boost the product demand. Growing awareness about the use of fabric and benefits associated with them is a major factor projected to create a lucrative opportunity for manufactures. Different fabrics used in the manufacturing of men’s underwear are nylon, silk, polyester, cotton and rayon. Leading players are concentrating on the development of a personalized and comfortable product such as C-string, jockstraps, thongs and tanga, which are projected to boost the market growth. Manufacturers are inclined towards the introduction of innovative underwear products with unique design, style and material to cater to the growing demand.
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Companies are investing more in R&D to manufacture the products fit for all sizes and shapes. Players are using innovative tailoring techniques and new fabrics such as viscose, merino and modal that help in regulating temperature and decrease moisture. For example, a company named Saxx introduced pouches in 3D hammock shape that resists skin friction with the support of unexposed stitching and mesh panels to reduce the chaffing effect on the body. Also, in the 3D fit, the company have launched 3D shaping for thighs, hamstrings, glutes and quads by using 9 panels of fabric to offer end-user a comfortable fit.
By type, the men’s underwear market is segregated into briefs, trunks, boxers, boxer trunks and others. Boxer brief has the largest market with a share of 33.0% due to factors such as better support, comfort and best fit. These products are designed to provide comfortability like tapered boxers with the best fit. Trunks are projected to ascend with a CAGR of 5.7% in the coming years. These products are becoming popular among millennials and Generation X as they are adjustable and used for sportswear and daily wear. Trunks are shorter than boxer which offers a slimmer and muscular look to the legs, thereby driving the demand for trunks in youngsters.
The fabric market is divided into polyester, nylon, modal, cotton and others. Cotton made underwear led the market with a share of 68.0% in the year 2018. Cotton is widely used for underwear production due to its properties such as softness, breathability, durability and lightweight. The demand for cotton made underwear is comparatively high as customers prefer those underwear having more comfort, moisture prevention and high absorbency. Modal fabric segment is anticipated to grow with the highest CAGR of 5.6% from 2019 to 2025. This fabric is made from Beachwood trees, combined with spandex and cotton in cloth manufacturing. Modal has properties such as lightweight, high wet strength, high absorbent, and shrink resistance making it more durable to withstand multiple washes and fit for tumble dry.
Asia Pacific was the largest regional market occupying nearly 40% market share in the male underwear market. The region is expected to grow at the highest CAGR of 5.9% from 2019 to 2025. The growth is driven by the growing male population from nations such as India and China having 700 million and 713 million male population in the year 2018. These two nations dominated the regional market with over 70.0% market share.
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Further key findings from the report suggest:
• Boxer brief division led the men’s underwear market with a share of 33.0% in the year 2018. It is projected to reach USD 14.23 billion by the end of 2025.
• Cotton fabric dominated the market accounting for a share of 68.0% in the year 2018, due to its properties like lightweight, highly absorbent, soft, moisture resistant, and breathability.
• Leading players in this industry include Levi Strauss & Co.; HUGO BOSS; Hanesbrands Inc.; Berkshire Hathaway Inc. (Fruit of the Loom); Ralph Lauren Corporation; Phillips-Van Heusen Corporation; Levi Strauss & Co.; Naked Brand Group Inc.; Perry Ellis International Inc.; American Eagle Outfitters Inc.; and Jockey International Inc.
Million Insights has segmented the global men’s underwear market on the basis of type, fabric, and region:
Men’s Underwear Type Outlook (Revenue, USD Million, 2015 – 2025)
• Briefs
• Boxer Brief
• Trunks
• Boxers
• Others
Men’s Underwear Fabric Outlook (Revenue, USD Million, 2015 – 2025)
• Cotton
• Polyester
• Modal
• Nylon
• Others
Men’s Underwear Regional Outlook (Revenue, USD Million, 2015 – 2025)
• North America
• U.S.
• Europe
• Germany
• U.K.
• Asia Pacific
• China
• India
• Central & South America
• Brazil
• Middle East & Africa (MEA)
• Saudi Arabia
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