Men’s Underwear Market Analysis Report By Type, By Fabric, By Region And Segment Forecasts From 2019 To 2025

Industry Insights

The global men’s underwear market size was accounted for USD 29.41 billion, in the year 2018. It is estimated to grow at a CAGR of 5.3% over the forecast period. Easy accessibility of a wide variety of underwear designs and products used for several purposes such as regular wear, functional, and sportswear are attributed to the market growth. Further, the growing concerns among millennials for personal hygiene and health benefit are projected to propel the market growth of men’s underwear.

Factors such as growing per capita income, changing consumer preferences, and fashion trends are predicted to augment market growth. Growing awareness about the use of different fabrics materials and the benefits associated with them is a key factor positively affecting the market growth. Different fabrics used in men’s underwear are polyester, rayon, silk, cotton, and nylon. In order to cater to the changing consumers’ needs, manufacturers are focusing on the development of comfortable and personalized product patterns and designs such as C-strings, jockstraps, thongs, tanga, and others.

Millennials are the major customers of the male underwear market as they are more open to trying distinctive and new products as compared to other customers. The demand for innovative underwear products, with unique design, material, and color, is gaining traction among millennials, which, in turn, offer a lucrative opportunity for manufacturers. The introduction of innovative underwear products in various designs and patterns is expected to influence customers purchasing decisions as more customers are inclined towards new products than conventional ones. Further, the growth of modern retail segments such as discounters, supermarkets, pharmacies, and specialty shops is expected to drive the product demand.

Companies are investing more in R&D to produce products that fit all sizes and shapes. Key players are using advanced tailoring and new fabrics such as viscose, merino wool, and modal to make the product more comfortable, help regulate temperature and decrease moisture. For example, a company named Saxx introduced pouches in a 3D hammock shape that resists skin friction with the support of unexposed stitching and mesh panels to reduce the chaffing effect on the body. The company also introduced 3D shaping for glutes, quads, hamstring, and thighs by incorporating nine panels of fabrics to provide better functionality and fit.

Type Insights

Boxer brief led the men’s underwear market by occupying around 33.0% of the market share in 2018 due to factors such as comfort, best fit, and support provided by it. This product is designed to offer the comfort and feel of the briefs by imitating tapered boxers with the closest fit. Boxer briefs are sold in a variety of fabrics like polyamide, cotton, and microfiber blends with proper quantities of spandex to provide desirable flexibility and greater comfort.

Trunks are projected to ascend with the highest CAGR of 5.7% over the forecast period. These products are versatile in nature and used for daily wear including sportswear and dressing up, thereby, becoming popular among Generation X and millennials. Trunks offer a slimmer and muscular look to thighs and legs as they are short and slim than boxer briefs. Further, trunks are also suitable for water adventures, sports, and daily wear.

Fabric Insights

Cotton-made underwear dominated the market with a share of 68.0% in the year 2018. Cotton is widely used for underwear manufacturing due to its properties such as softness, breathability, and lightweight. Consumers tend to purchase cotton fabrics than other fabrics as they offer high absorbency, prevents moisture, and more comfort. Further, cotton can withstand detergents, bleach, and even heat, making it more durable and economical for customers. All the aforementioned features are anticipated to supplement the segment growth over the forecast period.

The modal fabric division is projected to grow at the highest CAGR of 5.66% from 2019 to 2025. Modal fabrics are made up of Beachwood trees and it is often combined with spandex and cotton in clothing. Its properties, such as excellent wet strength, shrink prevention, and highly absorbent, protect it from damages during washing and drying, thus, ensuring its durability. Modal fabrics’ features such as excellent ventilation, lightweight, and softness provide a luxurious and comfortable feeling to consumers. This factor is expected to positively influence market growth over the forecast duration.

Regional Insights

The Asia Pacific was the largest region occupying nearly 40% of the market share in 2018. Also, it is expected to be the fastest-growing region with an expected CAGR of 5.9% over the forecast duration. This growth is attributed to the growing male population in countries such as China and India which accounted for 713 million and 700 million male population respectively in 2018. These two nations led the regional market with a 70.0% market share. India is predicted to grow at the fastest rate due to growing customer demand for premium and comfortable underwear and the presence of leading players including Hanes, Calvin Kelvin, and Jockey.

There is high competition among several key players in regions such as North America and Europe. Factors such as the presence of various key players and increasing demand for products with the unique design of the products are attributing to the growth of these regions. Companies are engaged in continuous product innovation and quality enhancement to gain traction in the market. The demand for limited edition has been increased among consumers in Europe and North America, supporting the regional market growth.  

Men’s Underwear Market Share Insights

Leading players in this industry include Levi Strauss & Co.; HUGO BOSS; Hanesbrands Inc.; Berkshire Hathaway Inc. (Fruit of the Loom); Ralph Lauren Corporation; Phillips-Van Heusen Corporation; Levi Strauss & Co.; Naked Brand Group Inc.; Perry Ellis International Inc.; American Eagle Outfitters Inc.; and Jockey International Inc. Companies are engaged in various initiatives such as product innovation, M&A and others to cater to the rising demand and acquire larger market share.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global men’s underwear market report on the basis of type, fabric, and region:

• Type Outlook (Revenue, USD Million, 2015 - 2025)
    • Briefs
    • Boxer Brief
    • Trunks
    • Boxers
    • Others

• Fabric Outlook (Revenue, USD Million, 2015 - 2025)
    • Cotton
    • Polyester
    • Modal
    • Nylon
    • Others

• Regional Outlook (Revenue, USD Million, 2015 - 2025)
    • North America
        • U.S.
    • Europe
        • U.K.
        • Germany
    • the Asia Pacific
        • India
        • China
    • Central & South America
        • Brazil
    • Middle East & Africa (MEA)
        • South Africa