The global men’s wear market is anticipated to grow at a CAGR of 5.6% during the forecast period. The major factor driving the growth of the men’s wear market includes a rapidly changing lifestyle coupled with the increasing purchasing power of the middle-class population. The increasing millennial population across the globe that is opting for luxury products is also influencing the growth of the men’s wear market. 

Moreover, internet penetration is rising rapidly across the globe. According to the International Telecommunication Union estimates, by the end of 2019, 53.6% of the global population that accounts for the 4.1 billion people, are using the Internet. Therefore, online shopping trends are also significantly fostering the growth of the men’s wear market. In addition to this, the fashion influencers in social networking sites such as Facebook and Instagram are also increasing the popularity of various men’s wear among a large base of population. This is also anticipated to drive the growth of the men’s wear market during the forecast period.

Segmental Outlook 

The global men’s wear market is segmented based on the product type and distribution channel. Based on the product type, the market is sub-segmented into clothing, accessories, and footwear. Based on the distribution channel, the market is bifurcated into online and offline.

Global Men’s Wear Market Share by Product Type, 2019 (%)

Product Type Insight: Clothing Segment to Contribute Significantly During the Forecast Period 

The clothing segment is anticipated to contribute significantly to the men’s wear market owing to the increasing popularity of various global clothing brands among the young men population. Moreover, the availability of a wide range of clothing choices for men is also driving the growth of the clothing segment. In addition to this, the increasing efforts of online stores to engage more men consumer base is also impacting the segmental growth of the clothing segment. Furthermore, the increasing number of SMEs or local businesses across the globe in the men’s clothing market will also drive the growth of the clothing segment during the forecast period.

Regional Outlooks

The global men’s wear market is further segmented based on geography including North America, Europe, Asia-Pacific, and the Rest of the World. Significant growth in North America can be witnessed in the men’s wear market. The growth can be attributed to the strong presence of globally recognized fashion brands such as Nike and Calvin Klein across the region. These fashion brands are increasing their focus towards targeting men's consumer base with the introduction of various new products. This is anticipated to drive the growth of the men’s wear market across the region. In addition to this, various globally recognized annual fashion shows are also hosted in New York which significantly aids in introducing new fashion choices among the population. This, in turn, will also drive the growth of the men’s wear market across the region during the forecast period.

Global Men’s Wear Market Growth, by Region 2020-2026

Asia-Pacific to Exhibit Considerable Growth in the Men’s Wear market

Asia-Pacific is anticipated to exhibit considerable growth in the men’s wear market during the forecast period. The regional growth is attributed to the increasing urbanization in countries such as China, Japan, and South Korea. Additionally, the presence of a large consumer base in the Asia-Pacific region also attracts global brands to the region. In addition to this, the already established brands as well as new entrants in the market are expanding their business on the online channels, which aid them in attracting a large consumer base. This, in turn, is anticipated to drive the regional growth of the men’s wear market during the forecast period.

Furthermore, many companies across the region also manufacture the copied styles of the global brands making them available at relatively less price to the consumers. This increases the adoption of various new fashion trends among the population, and in turn, driving the men’s wear market.

Market Players Outlook

Some of the key players of the Men’s Wear market include Adidas AG, Louis Vuitton Malletier, Prada S.p.A., Ralph Lauren Corp., VF Corp., Nike Inc., Levi Strauss & Co., Gianni Versace S.r.l., Gap, Inc., Haggar Clothing Co., Guccio Gucci S.p.A, and others. The market players are considerably contributing to market growth by adopting various strategies to stay competitive in the market. For instance, in April 2018, Haggar Clothing Co. has completed its purchase of certain assets of Brisbane, California-based Kizan International, Inc., doing business as Louis Raphael, a men's apparel company. 

The Report Covers

• Market value data analysis of 2019 and forecast to 2026.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global Men’s Wear market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.