Garment

Demand for Menswear Is Predicted To Increase at A CAGR Of 5.7% By2033; States Fact.MR

Published: April 18, 2023

Author: DIGITAL MEDIA EXECUTIVE

Expanding at a CAGR of 5.7%, the global menswear market is expected to increase from a valuation of US$ 545 billion in 2023

Menswear is usually comprised of rigid, robust fabrics in neutral hues with subtler decorations compared to womenswear. It comes in a wide range of styles. The growing interest in personalized and customized apparel is one of the most current developments in the sector.

The market is projected to expand on the back of the growing desire of men to look fashionable. The global market could benefit from improving the disposable income of consumers which may play a part in increasing the sales of products. In some parts of the world, men have become metrosexual due to the influence of various urban trends.

Rising demand for clothing with a reflective finish has also increased the opportunity for industry participants to prosper. Additionally, rising demand for graphic T-shirts and other clothing due to changing fashion trends will raise sales of the product throughout the projection period. Demand for menswear is being driven by the rise in the global appeal of branded apparel among consumers and the growing trend of luxury clothing as a status symbol among people.

Competitive Landscape:

Top market vendors are now concentrating on social media platforms and online distribution channels for the online marketing and branding of their products to get the attention of as many clients as possible. Major firms are concentrating on utilizing the potential presented by market innovation to broaden their product portfolios and meet the needs of diverse product sectors by supplying distinctive and alluring high-quality products along with more convenient purchasing options.

Active participants’ omnichannel marketing has been contributing to the market’s expansion favorably. The new styles that are popular with the general populace are “smart casuals” and “formals” for common males.

For instance:

In 2021, with the launch of its ‘Athleticz’ collection, which caters to those who enjoy physical activity and exercise, the Zara brand is hoping to make further inroads into this market.