Men’s underwear is clothes that are worn next to the skin and usually known as intimate’s clothes. They are mainly used to avoid the other clothes from getting dirty by sweat and also shapes the body. These clothes are made up of rayon, cotton, nylon, polyester, silk, and cotton. They keep the private dry and avoid the wet stains while also maintain comfort. Moreover, men's undergarments support the shapes of private they need for their genitals. Furthermore, it also protects the genital from different types of infections which can cause during any physical activities such as running where the men's skin gets rubbed repeatedly leading to skin rashes and other infections.
The U.S. men’s underwear market was estimated to be valued around US$ 3.5 billion in terms of value in 2018 and is predicted to grow at a CAGR of 6.1% during the forecast period (2019 to 2027)
Booming retail and online stores formats such as supermarkets and discount stores are expected to accelerate market growth. According to the U.S. Census Bureau, the U.S. retail sales rose 0.3% in January 2020. Online sales increased by 03%. Restaurant sales increased by 1.2%. Hence, expanding retail sector is expected to foster the growth of the U.S. men's underwear market over the forecast period.
Rising demand for functional underwear is projected to foster market growth over the forecast period. For instance, in March 2020, New York-based Men's Underwear Company, Adam Smith Wear, announces the launch of its new underwear collections for men. The latest collections provide a wider choice and are designed to be unisex to cater to the demands of men and women both. Hence, rising demand for functional underwear will favor the growth of the U.S. men's underwear market.
Customers face difficulties during buying lingerie/underwear from stores due to the lack of availability of the product of their choice. This is expected to restrict market growth. Moreover, buying underwear online does not offer touch-or-feel or try on the product before purchasing. This is also projected to hamper market growth over the forecast period.
On the basis of category, boxer brief dominated the U.S. men’s underwear market in 2018 with around 30% of market share in terms of revenue, followed regular brief and trunks, respectively.
Change in lifestyle in the U.S. population is expected to accelerate the market growth in the near future. Moreover, the steady growth of the manufacturing and services sector in the country is also projected to foster market growth. Furthermore, rising awareness regarding hygiene is also expected to support market growth over the forecast period.
The increasing trend of mergers and acquisitions in the market is expected to be a major driver factor in the country. For instance, in January 2017, Underwear maker Bendon plans to merge with the US sleepwear company Naked. The deal would result in the combined company being a NASDAQ-listed business as Naked already trades on that US exchange. Naked Brand Group had a closing share price of US$ 1.04 ($1.46) and a market capitalization of US$ 6.3 million.
Key players operating in the U.S. Men’s Underwear market are Hanes Brands Inc., Philips-Van Heusen Corporation American eagle outfitter Inc., Ralph Lauren Corporation, Jockey International Inc., and Gildan Activewear Inc.
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