Men’s Underwear Market Poised to Register 5.8% CAGR through 2026
Added: (Thu Dec 27 2018)
Research Report Insights (RRI) delivers key insights on the global US men’s underwear market in its upcoming outlook titled, “US men’s underwear market by 2026”. In terms of value, the global US men’s underwear market is projected to register a healthy CAGR of 5.8% during the forecast period due to various factors, regarding which RRI offers vital insights in detail.
On the basis of age group, the market is segmented into 15-25 years, 26-35 years, 36-45 years, 46-55 years, 56-65 years, and 65+ years. The The 26-35 years segment is estimated to account for around 17.9% share contributing US$ 579.3 Mn by end of 2015, and register a CAGR of 4.7% over the forecast period in terms of value. Popularity of boxer shorts amongst this age-group is anticipated to result in robust revenue contribution by this segment. On the basis of distribution channel, the market segmentation includes mass merchant, mono-brand outlet, pharmacy store, online store and others. US Men’s Underwear Market Value to Increase from US$ 3,382.3 Mn in 2016 to US$ 5,937 Mn by 2026
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Factors such as personal hygiene awareness, increasing disposable income, on the go lifestyle, improved living standards, and changing preferences of consumers, are anticipated to contribute towards the revenue growth of men’s underwear market in U.S. during the forecast period. Major players in the market generally outsource production to manufacturers in developing countries in order to benefit from economies of scale, Low manufacturing costs and high volume production enables established brands to offer underwear at competitive prices to drive sales. Regular brief segment is estimated to account for around 29.6% share – contributing US$ 958.0 Mn to the U.S. men’s underwear market – by end of 2015, and register a CAGR of 4.3% over the forecast period, Boxer Shorts are projected to be the fastest growing segment over the forecast period (2016–2026). XXXL Size is projected to be the fastest growing size over the forecast period, due to the Increasing prevalence of obesity in the U.S. Further, propagation of modern retail formats such as supermarkets, discount stores, and pharmacy stores is resulting in increasing product visibility.
Northeast region held the largest market share of 39.3% in 2015, and it will reach 41% by 2021. The Midwestern region market is anticipated to fall from 12.8% in 2015 to 12.5% in 2021. This is due to the lower population, lesser developed states and consumers having low purchasing power parity as compared to other regions.
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This report covers trends driving each segment and offers analysis and insights of the potential of the US Underwear market in specific regions: West region and Northeast are expected to register high growth rates between 2016 and 2026. Northeast and West region combined, are expected to account for a total 69.4% of value share or US$ 4,119.3 Mn in terms of revenue contribution to the U.S. men’s underwear market over in 2026.
In 2026, the Northeast region is expected to dominate the U.S. men’s underwear market with 42.5% share, followed by West region accounting for 26.9% share. The U.S. men’s underwear market was dominated by top 5 players in the organized market accounting for 85% share of the market share 2014. Key players in the global US men’s underwear market includes Hanes brand Inc., Philips Van Heusen Corporation, Ralph Lauren Corporation, American Eagle Outfitters Inc. and Jockey International.
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Submitted by:Vikas Bahurupi