Menswear Market Size, Share, Industry Analysis, Trends, Growth, 2030

Menswear Industry Prospective:

The global menswear market size was worth around USD 580.90 billion in 2022 and is predicted to grow to around USD 925.17 billion by 2030 with a compound annual growth rate (CAGR) of roughly 5.99% between 2023 and 2030.

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Menswear Market: Overview

Menswear is defined as clothing products designed to appeal to the male segment of society. Historically, menswear has been designed keeping in view the physical appearance of a man and their requirements. Menswear is an important part of the global fashion industry and the concept of clothing for men has evolved over the years. However, the most preliminary aspects of menswear have remained constant for the last few years. Menswear design deals with a lot of characteristics that are traditionally associated with their role in society. For instance, since in the early days, men were more prone to working in outside environments, their bottoms designed in the form of pants allowed them higher flexibility.

Apart from the more common forms of men’s clothing such as shirts, t-shirts, and trousers, the menswear industry also deals with traditional clothing products designed for men. These products can be different in shape and design depicting the cultural background or a person’s ethnicity. For instance, the white robe also known as kandora is a very common site in Middle Eastern countries. The industry for menswear is rapidly evolving and is projected to grow to new heights in the coming years.

Key Insights:

• As per the analysis shared by our research analyst, the global menswear market is estimated to grow annually at a CAGR of around 5.99% over the forecast period (2023-2030)
• In terms of revenue, the global menswear market size was valued at around USD 580.90 billion in 2022 and is projected to reach USD 925.17 billion, by 2030.
• The menswear market is projected to grow at a significant rate due to the rising revenue in the fast fashion industry
• Based on season segmentation, the summer season was predicted to show maximum market share in the year 2022
• Based on purchase mode segmentation, online was the leading segment in 2022
• On the basis of region, Asia-Pacific was the leading revenue generator in 2022

Menswear Market: Growth Drivers

Rising revenue in the fast fashion industry may drive market growth during the forecast period

The global menswear market is projected to grow owing to the increasing revenue in the fast fashion industry. It is a business model that deals with the replication of high-end fashion with low-quality materials thus reducing production costs. One of the main characteristics of fast fashion is the rapid replacement of designs and styles with new trends. Products belonging to the fast fashion industry are not meant to survive over time as they easily deteriorate after being worn for a few months. Mass production and inexpensive products are the pillars of fast fashion. The menswear segment is booming in the shadow of the thriving fast fashion sector.

In addition to this, the increasing penetration of fast fashion retailers through online sales channels has further proliferated the demand for disposable fashion which stood at close to USD 100 billion in revenue in 2022. The rising spending power of the general population coupled with increasing access to fast fashion will further fuel the demand for menswear in the coming years.

The growing perceived importance of fashion across genders may trigger higher demand

Fashion has been a pivot segment in society for ages. In modern times as well, it plays a crucial role as the quality and the expenses associated with a clothing item are considered as a depiction of a person’s social status. The perceived value of fashion across genders is significantly high.

Additionally, the growing influence of the social media culture that deals with the rampant promotion of clothing products by social media celebrities has further created a higher demand for menswear along with other products. A rapidly rising segment of the population does not wish to repeat clothing products thus leading to irresponsible shopping trends. Around 5.5% of men globally are shopaholics as suggested by leading psychologists worldwide.

Menswear Market: Restraints

Limited options in menswear collections may restrict the market growth rate

The global menswear market will be restricted due to the limited product offerings in the clothing segments for men. Unlike women’s wear, men's clothing items do not offer multiple options. The pattern of menswear is repeated with different designs. The lack of more options to explore significantly restricts the market growth trend since longer periods without purchase may be observed among the male population.

Additionally, even the prices of items in the fast fashion industry are rapidly rising. The growing economic turmoil across the international market may lead to a loss of potential revenue.

Menswear Market: Opportunities

Growing demand for environmentally friendly clothing options holds higher growth opportunities

The global menswear industry will encounter new growth opportunities due to the increasing demand and market for environmentally friendly options. Consumer awareness about the impacts of polyester-based clothing products is rising sharply. They are seeking options and brands that showcase environmental consciousness and are working toward minimizing the impact on the ecosystem. In October 2023, direct-to-customer (D2C) brand DaMENSCH, an India-based menswear clothing company, that caters to the slow fashion segment, announced its plans to launch around 100 stores across the Indian market by the end of 2024.

In February 2023, luxury goods makers and one of the most pivotal brands in the fashion industry, Gucci announced that it will inaugurate a new hub in Tuscany that will be responsible for promoting less wasteful and durable fashion. The new center is expected to act as the research & development facility for the brand. Companies must target to achieve a balance between the cost and the product performance to leave a long-lasting impact on the consumers.

An increasing number of sellers offering options to customize clothing items will generate more profits

There has been a steady rise in the number of companies operating in the global menswear market that are offering customization offers to customers. This allows more freedom for the buyers to choose products based on their preferences. Furthermore, brands are becoming more inclusive in terms of body sizes thus expanding their consumer reach.

Moreover, the growing social acceptance of men’s grooming products and eliminating social awkwardness about men taking care of their physical appearance has helped the industry flourish further.

Menswear Market: Challenges

Increasing waste generated by the menswear fashion industry may challenge the market growth trend

The global menswear industry is projected to be challenged by the growing concerns over the waste generated due to the excessive consumption of low-quality clothing products. Textile waste is one of the largest environmental pollutants globally. More than 90 million tonnes of textile waste are generated per year out of which over 95% ends up in landfills.

Menswear Market: Segmentation

The global menswear market is segmented based on season, type, purchase mode, and region.

Based on season, the global market segments are winter wear, summer wear, and all season. In 2022, the highest growth was witnessed in the summer wear segment. These items of clothing are purchased across the globe and are more common since they offer a higher return on investment. The growing design range and the introduction of new fabrics along with fashion technology have led to higher segmental revenue. In 2022, the annual garment consumption was around 184 trillion pieces.

Based on type, the global menswear industry is divided into ethnic wear, denim, trousers, shirts & t-shirts, and others.

Based on purchase mode, the global market is segmented into offline and online. In 2022, the highest revenue was generated in the online segment. COVID-19 triggered exponential growth in the online shopping trends. The introduction of new shopping portals and improved shopping experience has completely changed the ecosystems surrounding the fashion industry. For instance, over 68% of the Indian population buys clothes directly from the official websites of the brands. The offline segment is also a critical growth contributor.

Menswear Market: Report Scope

Menswear Market: Regional Analysis

Asia-Pacific is the highest revenue-generating market

The global menswear market is dominated by Asia-Pacific. China, India, and South Korea are the region’s leading contributors. The regional fashion industry generates high profits every year. The emerging economies of India and China are witnessing a rise in the population’s purchasing power leading to changes in lifestyle patterns. Furthermore, the countries are the manufacturing hub for several upscale and reasonable brands along with other nations such as Bangladesh and Pakistan. China is the world’s leading producer of clothing products. It is also one of the world’s largest consumers of textile commodities.

The presence of low-cost fast fashion brands such as Shein has managed to disrupt the global disposable fashion industry by offering trendy but affordable clothing products. Europe is a prominent market for menswear. The modern fashion industry is heavily inspired by European fashion. The region is home to the world's most prominent luxury brands such as Louis Vuitton and Dolce Gabanna. North America will be led by the contributions of the US and Canada. Several sports apparel brands have originated in these countries that now enjoy global dominance.

Menswear Market: Competitive Analysis

The global menswear market is led by players like:

• Topman
• Zara
• ASOS
• H&M
• Tommy Hilfiger
• Uniqlo
• Burberry
• Prada
• Gap
• Ralph Lauren
• Forever 21 Men
• Calvin Klein
• J.Crew
• Mango Man
• Banana Republic

The global menswear market is segmented as follows:

By Season

• Winter Wear
• Summer Wear
• All Season

By Type

• Ethnic Wear
• Denim
• Trousers
• Shirts & T-shirts
• Others

By Purchase Mode

• Offline
• Online

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa