Global Men’s Underwear Market - Insights
An underwear is usually made up of suitable material or fabric in order to provide comfort and protect the internal body parts. Increasing awareness regarding health & fitness and personal hygiene among men is a major driving factor for the growth of the men’s underwear market. Furthermore, increasing demand for stylish and trendy underwear such as ‘geo-prints’ launched by the Australian company 2eros in 2016 are expected to fuel demand for men’s underwear, which in turn is expected to drive the growth of the market during the forecast period (2018 – 2025). Wide availability of products related to intimate apparels for men coupled with discounts with online e-commerce websites such as Amazon providing 20-30% discount on brands such as Jockey and Hanes, which is expected to drive growth of online shopping for underwear worldwide.
The specialty stores segment dominated the global underwear market and is expected to continue its dominance over the forecast period. This is on account to specialty stores being the most preferred channel for end users to purchase underwear due to the large variety of options that are available at these stores. For instance, HanesBrands launched a pop-up shop in 2017 in North Carolina in the U.S. providing customers with up to 75% discount on their undergarments. However, the online channel segment is expected to be the fastest growing segment over the forecast period. Underwear manufacturers are focusing on offering their products through online distribution channels such as Skiviez, in order to enhance their online presence and expand their customer base. These distribution channels enable manufacturers to offer a large product portfolio along with providing discounts and receiving immediate feedback of the customers.
Asia Pacific was the most dominant market in terms of revenue share in 2016 and is expected to continue its dominance over the forecast period. Asia Pacific men’s underwear market was valued at over US$ 2.3 billion in 2016, due to high demand for underwear due to the high male population in the region especially in China and India that account for the highest male population globally. According to the World Health Organization (WHO), the male population in China and India stood is reported to be 700 million and 640 million respectively in the year 2016. Increasing penetration of international underwear brands such as Hanes, Jockey, and Calvin Klein in emerging economies in Asia Pacific is expected to spur the demand for men’s underwear. Hence numerous international players are looking to enter the Asia Pacific men’s underwear market due to the huge untapped market in this region. For instance, Perry Ellis International agreed on a new license agreement with Good People Co. Ltd for selling men’s underwear and loungewear in South Korea in 2018.
Figure1. Global Underwear Market Share (%), By Product Type, 2016
Among product types, boxer briefs segment was dominant segment accounting for 36.57% of the market share in 2016 and is expected to increase to 37.91% by 2025. The trunks segment is expected to grow at the fastest rate, with CAGR of 6.31% during the forecast period. Boxer briefs are a fusion of men's underwear that are long and similar to boxer shorts, however have a tighter and more comfortable fitting like briefs thus providing better comfort and protection. This is a major factor that is expected to drive the demand for boxer briefs in the global men’s underwear market.
Some of the leading players in the men’s underwear market include American Eagle Outfitter Inc., Philips-Van Heusen Corporation, Hanesbrands Inc. Jockey International Inc, Perry Ellis International Inc., Naked Brand Group Inc., Ralph Lauren Corporation, and Berkshire Hathaway Inc
An underwear provides a stable shape to the body and acts as a barrier avoiding contact between the body and the external clothing. Apart from this an underwear helps in the prevention of conditions such as sweating which could result in yeast infection. An underwear is available in a variety of colors, shapes, types and designs, according to the requirement of an individual.
The men’s underwear market is driven by increasing hygienic and grooming practices such as the use of a fresh underwear every day, which are being followed by men. Apart from this the changing fashion trends resulting in the introduction of new products in the market is another major driving factor for growth of the market globally. However, use of conventional underwear such as Loincloth and Kaupinam especially in the emerging economies is expected to hamper the growth of the men’s underwear market globally. The use of super-tight underwear could result in yeast infections & ingrown hair, which in turn could hamper the growth of the men’s underwear market.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
*Browse 90 market data tables and 40 figures on "Men’s Underwear Market - Global forecast to 2025”.
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to:
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.