Global Menswear Market 2020-2024| 6% CAGR Projection Over the Next Five Years| Technavio
LONDON--(BUSINESS WIRE)--Jan 8, 2020--
The menswear market size is poised to grow at a CAGR of almost 6% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global menswear market 2020-2024. (Graphic: Business Wire)
Men’s fashion has grown rapidly in the past two decades. The availability of menswear in a variety of patterns, colors, and a mix of technical tailoring is enhancing the likeability of men’s fashion in the market. In addition, the men’s sportwear market is witnessing substantial growth with the emerging trend of athleisure clothing, which are designed to be worn during athletic activities as well as for general purposes. Among casual menswear products, plaid shirts have been witnessing rapid sales in the global market. Such evolution in the menswear fashion is expected to drive the growth of the menswear market during the forecast period.
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As per Technavio, the rising demand for organic menswear will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.
Menswear Market: Rising Demand for Organic Menswear
The global apparel market is witnessing a high demand for ecological clothing, which has led to the adoption of organic clothing, including organic menswear. This is mainly because, cotton cultivated and processed with synthetic dyes can cause skin diseases and allergies in people with sensitive skin. Chemicals used in cotton cultivation are toxic and remain in the fabric even after several wash cycles. This has caused concerns among people with sensitive skin; as a result, they opt for clothing made of organic cotton. Thus, the rising demand for organic menswear will drive the growth of the menswear market.
“Emergence of private-label brands and the increasing spending on men’s accessories will have a significant impact on the growth of the menswear market value during the forecast period,” says a senior analyst at Technavio.
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Menswear Market: Segmentation Analysis
This market research report segments the menswear market by distribution channel (online and offline), product (top wear; bottom wear; coats, jackets, and suits; intimate and sleepwear; and accessories and others), distribution channel (offline and online) and geographical regions (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2019, followed by Europe, North America, South America, and MEA respectively. The growth of the menswear market share in APAC can be attributed to factors such as the growing urbanization and increasing disposable income in the region.
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Some of the key topics covered in the report include:
Five Forces Analysis
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INDUSTRY KEYWORD: FASHION RETAIL
SOURCE: Technavio Research
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PUB: 01/08/2020 08:30 AM/DISC: 01/08/2020 08:30 AM