Men's Wear Market Overview: The Shift Towards Gender-Neutral Fashion Options
The global men’s wear market size is anticipated to reach USD 923.85 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.8% from 2024 to 2030. The demand and preference for men’s wear are increasing due to several key factors and trends shaping the market. One significant driver is the growing fashion consciousness among men. As societal norms evolve, men are becoming more aware of their personal appearance and style. The influence of social media, fashion shows, and magazines has heightened interest in men’s wear, encouraging men to experiment with different styles and trends. This shift has led to a more diverse range of clothing options available to male consumers, making fashion an integral part of their lives.
Rising purchasing power and disposable income, particularly in emerging economies like China and India, have also contributed to the increased demand for men’s wear. As the middle class expands, men are enjoying greater purchasing power and discretionary spending, allowing them to invest in high-quality, fashionable clothing. This trend is further amplified by a shift toward a premium lifestyle, where consumers, especially millennials, are more willing to invest in luxury clothing as a status symbol and to keep up with evolving fashion trends.
Gather more insights about the market drivers, restrains and growth of the Global Men's Wear Market
The expansion of e-commerce and online shopping has made men’s wear more accessible and convenient for consumers. Online platforms offer a wider range of products, high-end brands, and personalized recommendations, which contribute to the growth of the men’s wear market. This accessibility allows men to explore various styles and make informed purchasing decisions from the comfort of their homes, further driving demand.
Cultural integration and inclusivity are further contributing to the demand for men’s wear. As societies become more culturally diverse, there is a growing acceptance of modest fashion in mainstream markets. This cultural integration encourages designers and brands to incorporate elements into their collections, promoting inclusivity and respect for religious values. The men’s wear market is expanding beyond traditional boundaries, attracting consumers from various backgrounds who appreciate modest clothing for its aesthetic and ethical qualities.
Men’s Wear Market Report Highlights
- The clothing/apparel segment accounted for the largest revenue share of 49.0% in the market in 2023. The steadily high volume of sales of clothing items such as t-shirts, trousers, jeans, and formals primarily aids segment demand.
- The offline distribution segment dominated the market in 2023. Offline stores provide a tactile shopping experience that online platforms cannot match. Consumers can try on clothing to assess fit, comfort, and style, which helps in making more informed purchase decisions.
- North America men’s wear market accounted for a leading revenue share of 30.8% in the global industry in 2023. The significant influence of pop culture and media has helped shape men's fashion trends in regional economies such as the U.S. and Canada.
List of Key Players in the Men’s Wear Market
- H&M Group
- Industria de Diseño Textil, S.A.
- Nike, Inc.
- Adidas AG
- UNIQLO CO. LTD.
- LEVI STRAUSS & CO
- Gap Inc.
- PVH Corp.
- RALPH LAUREN MEDIA LLC
- HUGO BOSS
Order a free sample PDF of the Men's Wear Market Intelligence Study, published by Grand View Research.
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