The global men’s underwear market is estimated to expand at a healthy growth rate over the forecast period (from 2017 to 2025), according to the findings of a research report available on Radiant Insights, Inc. Growing product demand due to frequently changing trends is anticipated to propel the global market development. In addition to that, a rise in number of retail stores such as discount stores and supermarkets may also help boost product sales, thereby augmenting the market growth.
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On the other hand, high preference for well-known and established brands and reluctance to newer brands is said to hinder the growth of this market over the coming years. In addition, difficulties faced by consumers while purchasing selective products from brick and mortar stores due to lack of inventory may also obstruct the market development. However, the availability of a wide range of brands, designs, colors, etc. at competitive prices on online retail stores would fuel the market growth during the forecast period.
The men’s underwear market can be segregated on the basis of product type, end user, and region. On the basis of product type, the market is classified into boxer shorts, regular brief, boxer brief, trunks, and others. In the recent past, boxer brief segment had the dominated market share. It is estimated to witness a significant growth even during the forecast period on account of changing consumer preferences and increasing disposable income levels. The boxer shorts segment is anticipated to exhibit a substantial growth rate during the forecast years as a result of increasing spending on trendy products.
On the basis of end user, the men’s underwear market is bifurcated into online retailers and offline retailers. The online retailers segment is anticipated to witness a significant growth over the coming years on account of growing inclination of consumers towards online shopping. On the basis of geographies, the men’s underwear market is divided into Europe, North America, India, China, Japan, and Southeast Asia. The North America regional market is presumed to have a rapid growth during the next few years mainly due to the strong presence of global and local manufacture ring companies in the region. In addition to that, high demand for fashionable and trendy men’s underwear, which is also estimated to fuel the market growth in this region.
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The Europe regional market is also expected to have healthy development in the forthcoming years owing to high demand for premium products among consumers. Moreover, the presence of leading premium brands such as D&G and Versace is also likely to help spur the product demand, thereby boosting the market expansion in the region. The Southeast Asia region, especially India and China, would experience a rapid growth from 2017 to 2025 owing to growing demand for premium products as a result of increased disposable income levels. Furthermore, growing penetration of international brands in the developing economies of the region due to low labor costs would further impel the market growth.
Some of the leading companies in the global men’s underwear market are Jockey International; Ralph Lauren Corporation; American Eagle Outfitter; Hanesbrands; and J. C. Penney. Most of these companies have adopted various market strategies such as M&A and novel product development to gain larger market share. For instance, Delta Galil Ltd. recently announced that it has signed an agreement to acquire Eminence SAS and subsidiaries that includes top French underwear brands ATHENA and Eminence and an Italian brand Liabel S.p.A.
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