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Men's Underwear Market report also sheds light on the supply chains and the changes in the trends of the upstream raw materials and downstream distributors.

NEW YORK, NY, UNITED STATES, July 10, 2023/EINPresswire.com/ -- The global market for men's underwear had a value of USD 9.9 billion in 2022. It is projected to reach USD 15.76 billion by 2032, with a compound annual growth rate (CAGR) of 5.3% during the forecast period. The growth of the market is driven by factors such as changing fashion trends, increasing disposable income, and growing consumer awareness regarding cleanliness and health issues. To meet the evolving fashion and lifestyle preferences of male consumers, manufacturers are focusing on creating comfortable, stylish, and high-quality underwear.

One of the key factors contributing to the growth of market revenue is the rising demand for premium and upscale men's underwear. With higher disposable income, male consumers are willing to pay more for upscale underwear brands that offer superior comfort, quality, and style. This trend is particularly prominent among millennials, who seek fashionable and up-to-date underwear options.

There is also a growing demand for men's underwear with antimicrobial and moisture-wicking properties, as cleanliness and health concerns gain more attention. Customers are looking for undergarments that can prevent the spread of bacteria and reduce the risk of illnesses. The market demand for such products is expected to be further fueled by increased awareness of the importance of maintaining good hygiene.

The popularity of e-commerce channels for purchasing men's underwear is another factor driving market revenue growth. Online platforms allow customers to conveniently shop from home and offer a wider range of products. Online retailers also attract more customers and stimulate market expansion by providing various discounts and deals.

Environmental consciousness is a rising concern among consumers, leading to a demand for underwear made from sustainable and biodegradable materials. Men's underwear that is environmentally friendly and sustainable is also in greater demand. Manufacturers are emphasizing the use of organic cotton, bamboo, and other eco-friendly materials to meet this growing demand.

However, the market faces challenges that could impede future revenue growth. One major obstacle is the increasing competition from low-priced products. The availability of cheaper, lower-quality underwear options is expected to negatively impact market revenue growth.

The COVID-19 pandemic has also posed challenges to the market, particularly in terms of supply chain disruptions. The manufacturing and supply chain of men's underwear have been affected by the global pandemic, leading to reduced inventory levels and hindered revenue expansion.

Despite these challenges, the men's underwear market is expected to grow steadily in the coming years, driven by shifting fashion trends, increasing consumer disposable income, and growing awareness of hygiene and health. Manufacturers are striving to meet changing consumer preferences by focusing on comfortable, fashionable, and high-quality underwear. Addressing supply chain disruptions and coping with increased competition from lower-priced products are additional issues currently faced by the market.

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Competitive landscape:

• Calvin Klein Inc.
• Hanesbrands Inc.
• Fruit of the Loom Inc.
• Jockey International Inc.
• Under Armour Inc.
• Adidas AG
• Nike Inc.
• Puma SE
• Tommy Hilfiger Licensing LLC
• Ralph Lauren Corporation

Factors Influencing the Men's Underwear Market

The market for men's underwear is influenced by various factors that shape its growth and trends. Here are some key factors that affect the men's underwear market:

1. Fashion Trends: Changing fashion trends play a significant role in shaping the demand for men's underwear. Consumers' preferences and styles evolve over time, prompting manufacturers to introduce new designs, patterns, and colors to cater to the latest fashion trends.
2. Disposable Income: Rising disposable income among consumers has a positive impact on the men's underwear market. As individuals have more financial resources, they are willing to spend on premium and upscale underwear brands that offer better quality, comfort, and style.
3. Hygiene and Health Awareness: Increasing consumer awareness of cleanliness and health issues is driving the demand for men's underwear with enhanced features such as antimicrobial properties and moisture-wicking capabilities. People are more conscious of maintaining good hygiene and preventing the spread of bacteria, leading to a higher demand for underwear that promotes cleanliness and health.
4. E-commerce Growth: The growth of e-commerce platforms has transformed the retail landscape, including the men's underwear market. Online shopping provides convenience, a wider product selection, and attractive discounts, thereby driving the market's revenue growth. E-commerce platforms have become popular channels for purchasing men's underwear due to their accessibility and ease of use.
5. Sustainable and Eco-friendly Materials: Increasing environmental consciousness among consumers has led to a demand for men's underwear made from sustainable and biodegradable materials. Manufacturers are incorporating organic cotton, bamboo, and other eco-friendly fabrics to meet this rising demand and align with sustainable practices.
6. Price Competition: The market faces the challenge of price competition from lower-priced alternatives. The availability of inexpensive and lower-quality men's underwear options can impact the market's revenue growth, as cost-conscious consumers may opt for more affordable options over premium brands.
7. Supply Chain Disruptions: Disruptions in the supply chain, such as those caused by the COVID-19 pandemic, can hinder the growth of the men's underwear market. Manufacturing and distribution delays, reduced inventory levels, and logistical challenges can impact the availability of products and impede revenue expansion.

Understanding these factors helps manufacturers and industry players anticipate market dynamics and make informed decisions to meet consumer demands effectively.

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Segments covered in the report:

Segments covered by Application Outlook, End-use Industry, Regional Outlook

By Product Type Outlook

• Boxers
• Briefs
• Trunks
• Boxer Briefs
• Others

By Material Outlook

• Cotton
• Nylon
• Polyester
• Silk
• Others

By Distribution Channel Outlook

• Online
• Offline

Regional Outlook

• North America (U.S.A., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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