The global menswear industry is expected to increase at a 5.7% CAGR from $545 billion in 2023 to $950 billion by the end of 2033. Demand for sportswear is predicted to rise the fastest until 2033. Sportswear makers are concentrating on clothing with water-absorbing characteristics that help in physical motions performed when participating in a sport.
Menswear apparel is often comprised of rigid, sturdy fabrics in neutral hues with lesser adornment than feminine attire. It comes in a number of styles. One of the most current industry trends is the growing need for personalized and personalised clothes.
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Competitive Landscape:
Top market vendors are now focused on social media platforms and online distribution channels for online marketing and branding of their items in order to attract the attention of as many customers as possible. Major firms are concentrating on leveraging market innovation to broaden their product portfolios and meet the demands of many product sectors by offering distinctive and enticing high-quality commodities as well as more convenient buying options.
The development of the market has been assisted by active participants’ omnichannel marketing. “Smart casuals” and “formals” for everyday males are now trendy styles among the general population.
The Zara company will introduce its ‘Athleticz’ line, which caters to individuals who like physical activity and fitness, in 2021.
Key Players:
- LACOSTE
- HUGO BOSS
- Raymond Group
- Gap Inc.
- Inditex
- Kering
- Nike
- PVH Corp.
- Adidas
- Burberry Group PLC
- Hermes
- Reebok
- Dior
- Calvin Klein
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Regional Analysis:
“Increased Sports and Outdoor Activities in the U.S.”
Ralph Lauren, Calvin Klein, Tommy Hilfiger, and Hollister are among the many brands available in the US market. Men’s fashion in clothing, footwear, and accessories has witnessed tremendous growth in recent years, owing to a surge in sports and outdoor activities among men in the United States at least once a year. The United States is claimed to be driving menswear demand as a result of its industrialization-related growth policies and sophisticated infrastructure. These trends are projected to result in a considerable expansion in the market during the forecast period.
Key Segments of Industry:
- By Product
- Trousers
- Denims
- Shirts & T-shirts
- Ethnic Wear
- Sportswear
- By Season
- Summer Wear
- Winter Wear
- All-season Wear
- By Distribution Channel
- Supermarkets/Hypermarkets
- Exclusive Stores
- Online Retail Stores
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