July 18, 2024
U.S. Men's Underwear Market

U.S. Men’s Underwear Market Is Estimated To Witness High Growth Owing To Increasing Disposable Income & Growing Online Sales Opportunity

The U.S. men’s underwear market is estimated to be valued at US$3.5 billion in 2018 and is expected to exhibit a CAGR of 6.1% over the forecast period 2019 to 2027, as highlighted in a new report published by Coherent Market Insights.

A) Market Overview:

The U.S. men’s underwear market comprises various types of products such as briefs, boxers, boxer briefs, and trunks. These products are designed for comfort and provide support to men. The market is driven by factors such as increasing disposable income and growing fashion consciousness among men. Additionally, the rise in online sales channels has also contributed to the growth of the market.

B) Market Dynamics:

The U.S. men’s underwear market is driven by two main factors: increasing disposable income and growing online sales.

1. Increasing Disposable Income:

The rise in disposable income has led to an increase in the purchasing power of consumers. This allows them to spend more on branded and premium products, including men’s underwear. Moreover, changing lifestyles and the desire for comfort and quality have also fueled the demand for premium and high-end underwear among men.

2. Growing Online Sales:

The growth of e-commerce platforms and the increasing penetration of the internet have revolutionized the way consumers shop. The convenience of online shopping, the availability of a wide range of products, and attractive discounts offered by online retailers have led to a shift in consumer preferences toward online channels for purchasing men’s underwear. This has boosted the overall sales and revenue of the market.

C) Segment Analysis:

Among the segments in the U.S. men’s underwear market, the boxer briefs segment dominates the market. Boxer briefs offer the combined benefits of both boxers and briefs, providing comfort and support. They are increasingly preferred by men for everyday wear as well as for sports and fitness activities. The growing popularity of boxer briefs can be attributed to their versatility and ability to cater to the needs of different consumer segments.

D) PEST Analysis:

– Political:

The political stability in the United States provides a conducive environment for businesses to operate in the men’s underwear market.

– Economic:

The steady growth of the U.S. economy and increasing disposable income have positively impacted the demand for premium men’s underwear.

– Social:

Changing fashion trends and the willingness of men to experiment with new styles and designs have contributed to the growth of the market.

– Technological:

Technological advancements in the textile industry have enabled the production of innovative and comfortable fabrics, enhancing the overall quality of men’s underwear.

E) Key Takeaways:

– The U.S. men’s underwear market is expected to witness high growth, exhibiting a CAGR of 6.1% over the forecast period, due to increasing disposable income and growing online sales.

– The fastest-growing and dominating region in the market is the United States, owing to the high purchasing power of consumers and the presence of major players in the region.

– Key players operating in the U.S. men’s underwear market include Hanes Brands Inc., Philips-Van Heusen Corporation, American Eagle Outfitters Inc., Ralph Lauren Corporation, Jockey International Inc., and Gildan Activewear Inc. These players focus on innovative product offerings, marketing strategies, and collaborations to maintain their market position.

In conclusion, the U.S. men’s underwear market is poised for significant growth in the coming years, driven by factors such as increasing disposable income, growing online sales, and changing consumer preferences. The dominance of the boxer briefs segment and the presence of key players in the region further contribute to the market’s positive outlook.