Men’s Wear Market is anticipated to reach US$ 540,454.6 Mn by 2022

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Dublin 2, Ireland, 2018-Jan-23 — /EPR Network/ — Fact.MR has recently added a new report to its vast online database. This research study is titled as “Men’s Wear Market Forecast, Trend Analysis & Competition Tracking: Global Review 2017 to 2022” which presents an in-depth study about the production, consumption, market volume, revenue (million USD) and market share across different geographical regions.

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The global men’s wear market is expected to grow moderately and is influenced by several aspects in the market, to name a few, people have grown metrosexual and thus have a desire to look trendy and fashionable. This is the most important factor which is driving the growth of the market. The availability of disposable income is another primary aspect. People tend to spend on luxury wear, party wear, even sleep wear. The other important factor which is positively impacting the growth of the global men’s wear market is the rising footwear and people are also spending on formal boots, casual boots, etc. Moreover, casual wear and professional or formal wear seem to favor the growth of the global men’s wear market. Most of the people prefer shopping for casual wear to use on weekends, and formal wear during weekdays. There are many celebrity endorsements taking place to promote brands and make people aware of the new trends and premium quality products. This has triggered an increase in the purchase of premium wear, especially those endorsed, which is yet another factor fuelling the growth of the global men’s wear market. Asia-Pacific excluding Japan seems to be the most lucrative region and favors the men’s wear market.

Men’s wear includes all the categories which are used by men and the most popular of these categories is clothing and footwear. Clothing includes all types of dresses, which can be used for different occasions, for example, there are ethnic wear, professional or formal wear, trousers, shirts, innerwear, sleep wear, sportswear, t-shirts, etc.

5 Forecast Highlights on Global Men’s Wear Market

·         The APEJ (Asia-Pacific excluding Japan) region is more lucrative a region for men’s wear and hence favors the men’s wear market by showing a healthy CAGR of 4.6% during the period of forecast. APEJ followed by North America, shows high market attractiveness, owing to prevalence of higher and increasing population along with greater disposable incomes. New trends and developments in the clothing sector has raised the bar of people adopting trendy and premium clothes and presence most of the super finicky individuals is driving the premium and the super-premium segment. The men’s wear market is poised to reflect higher growth rate in China and India

·         The super–premium segment runs at a higher pace to reflect a robust CAGR of 5.2% followed by the premium segment. However, these segments have a less market share by revenue, as compared to the economy segment in the price-based category. The economy segment is also poised to show steady growth rate during the forecast period

·         The 26-36 segment by demographics is anticipated to reflect a modest CAGR of 5.2% during the period of forecast, 2017-2022, and shows an equally good market share during 2017-2018. The 18-25 segment shows the highest market share by revenue, and a steady growth rate with a gain in the BPS by the end of 2022. According to Fact.MR, 66+ and 18-25 segments can be said to have similar growth rates during the forecast period

·         The online sales channel shows steady growth pattern during the period of forecast but a less market share by revenue. The modern trade segment dominates other segments in terms of revenue market share and growth rate and is expected to grow even higher to reflect a CAGR of 4.9% during 2017 to 2022 forecast period. Specialty store segment reflects significant growth rate followed by the online segment. The franchise store segment is expected to grow slow during the forecast period

·         Accessories segment is poised to show a moderate growth rate yet possess a higher market share by revenue, a revenue of more than US$ 63,200 Mn has been slated during 2017. Ethnic wear segment by category reflect the highest growth rate followed by t-shirts/tops/shirts segment and both these are expected to experience a gain in the BPs by the end of 2022. The accessories and the sportswear segments show more or less equal growth rate during the period of forecast.

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26-35 Segment by Demographics to Register Higher Growth Rate

The 26-35 segment is anticipated to register a higher growth rate during the forecast period 2017 to 2022, at a CAGR of 5.2%, higher than other segments. It also expected to reflect good market share by revenue by 2017 end and this growth trend has good chances of increasing by 2022-end. The 18-25 segment shows steady growth rate and has highest market share by revenue, followed by the 26-35 segment. Although, the 66+ segment shows a growth rate similar to 18-25 segment during the forecast period.

Accessories Segment Dominates the Global Market in Terms of market Share; Robust Growth Rate anticipated for the Ethnic Wear Segment

The accessories segment by category shows higher market share by revenue and is expected to grow at a moderate growth rate during the period of forecast. By 2022, this segment is poised to reflect a market revenue share of US$ 80,144.6 Mn and also expected to gain BPS during this period. The ethnic wear segment is expected to show the highest growth rate among all other segments, yet has less market share by revenue, but it can be said to have an increase in the market share owing to its robust growth rate. Following ethnic wear, tops/t-shirts/shirts segment is also showing signs of high growth during the forecast period and is anticipated to gain BPS by the end of 2022. The winter wear and sleep wear segments are growing at a slow yet steady pace, and at a similar rate and this is anticipated to continue throughout the period of forecast.

Modern Trade Outpaces Specialty Store Segment in all Aspects

The modern trade segment by sales channel overtakes the specialty stores segment with respect to growth rate and is anticipated to grow at a higher pace showing a CAGR of 4.9% during the forecast period of 2017- 2022. It also has higher market share by revenue and is expected to gain high BPS by the end of 2022. The specialty stores segment comes second from growth and revenue share standpoints. The online segment shows moderate growth rate throughout the forecast period.

Super-Premium and Premium Segments to Run at Higher Speeds

The super-premium segment and the premium segment by price based category reflect a higher growth rate and a gain in the BPS by the end of 2022. The super-premium segment growth, however, is even faster than the premium segment and reflects a CAGR of 5.2% during 2017 to 2022. The market share by revenue of this segment is less as compared to premium segment, or any other segment in the price based category. The economy segment has a higher market share by revenue, more than double than that of the super-premium segment and is poised to grow at a moderate rate, yet could experience a loss in the BPS by the end of 2022.

Competition Tracking

The report also profiles companies that are expected to remain active in the expansion of the global men’s wear market through 2022, which include The Gap Inc., H & M Hennes & Mauritz AB, Industria de Diseno Textil S.A, Kering S.A, LVMH Moet Hennessy Louis Vuitton S.E, NIKE Inc., PVH Corp., Hugo Boss AG, Adidas AG and Burberry Group Plc.

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About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized Retail & Consumer Goods market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

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