The men’s underwear market will grow at approximately ~4% CAGR between 2021 and 2031. In 2020, the overall sales of men’s underwear totalled US$ ~10 Bn .As per FMI, the men’s underwear market holds a share of ~1% in the overall apparel market. Besides innovation in designs, the market is gearing to witness the launch of electronic underwear, designed particularly for elderly patients.
The electric no-show brief provided by the company comes with an electric waistband that gleams and shines in the most subtle way. The underwear is the supportive and comes in various shades, which makes them more fashionable. With the help of modern machinery, the underwear is designed innovatively so that it has stitching on its sides and a center seam for more comfort and space.
Rising prevalence of various health issues such as bedsores or pressure ulcer expects will result in high sales of electronic underwear to help improve mobility especially, among the elderly population. For instance, 2exist provides with men’s hot underwear, which is stunning in both ways- fashion and function wise.
Customers suffering from health issues look for easy and comfortable solutions. This is expected to boost the sales in the men’s underwear market. In addition to this, investment towards research to fashion inner garment for the comfort of patients will encourage innovations in the market.
Key Takeaways from the Men’s Underwear Market Study
- Based on material type, linen-made men’s underwear is likely to remain highly sought-after owing to the rising demand for luxurious and premium underwear among men.
- As per analysis, demand for boxer shorts is expected to grow at a CAGR of over 5% over the forecast period.
- Sales via multi-brand stores will pick up in the coming years.
- Demand in the U.S. is expected to grow by 3% CAGR between 2021 and 2031.
- Sales of men’s underwear will pick up pace at 5% CAGR in the U.K.
Impact of COVID-19 on the Market
The sudden outbreak of the COVID-19 has transformed the growth factors for various industries. The implementation of work from home trend has led to the rise of awareness regarding personal health among individuals, which is further driving the interest of customers towards premium and comfortable innerwear that have new designs and are stylish at the same time.
On the flip side, strict regulations imposed on the movement of individuals in commercial areas, lack of trading between countries led to plummeting sales for a short period of time. However, with time, the men’s underwear market is likely to bounce back, exhibiting a steady growth through the course of the forecast period.
Who is winning?
Leading manufacturers of men’s underwear are adopting aggressive promotional strategies and advertisements to driven sales. Leading players present in the men’s underwear market are Hanesbrands Inc., Philips-Van, Heusen Corporation, Ralph Lauren Corporation, Jockey International Inc., American Eagle, Outfitters Inc., Iconix Brand Group Inc., J.C. Penney Corporation Inc., Under Armour, Inc., RibbedTee Company, Ramblers Far, Inc., Levi Strauss & Co., Perry Ellis International Inc., and Naked Brand Group Inc. among others.
Key Segments Profiled
By Material:
Cotton
Wool
Silk
Polyester
Rayon
Linen
Nylon
Others
By Category:
Regular Brief
Boxer Brief
Boxer Shorts
Trunks
Thongs
By Sales Channel:
Wholesalers/ Distributors
Hypermarkets/Supermarkets
Specialty Stores
Multi-brand Stores
Online Retailers
Others
By Price Range:
Below US$10
US$ 10 to US$ 20
US$ 20 to US$ 30
US$ 30 & Above
By Age Group:
15 to 25
26 to 35
36 to 45
46 to 55
56 to 65
65+
By Size:
XS
S
M
L
XL
XXL
XXXL
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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