Fact.MR envisions the global men’s wear market to collect a US$540.4 bn by the end of 2022. Among demographics, the 26-35 segment could display a higher CAGR of 5.2% during the forecast period 2017-2022. Currently, it secures a remarkable share of the global men’s wear market. Even in the near future, it is projected to account for a sizable market share.
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Among different category types that the global men’s wear market is divided into, the accessories segment is foretold to collect a larger revenue share in the coming years. However, it could rise at a moderate pace in the global men’s wear market. It is predicted to gain BPS during the course of the forecast period. By the final forecast year, its market could be valued at an US$80.1 bn. Although the ethnic wear segment shows a higher growth rate, it is expected to hold a lesser share of the global men’s wear market on the basis of value. Nonetheless, it could show an increment in its market share as the demand rises.
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Celebrity Endorsements for Brand Promotion to Spur Sales of Men’s Wear
Besides clothing, men are surveyed to spend more on footwear, including casual and formal shoes. Thus, rising growth of the men’s footwear market is expected to create lucrative business opportunities for manufacturers of men’s wear products. The rise of the global men’s wear market could also be supported by the increasing sales of formal and casual clothing. Celebrity endorsements are predicted to play a significant role in highlighting the global men’s wear market. These are helping consumers to become aware of latest trends, premium fashion brands, and new offerings of the global men’s wear market.
Footwear and clothing are some of the leading categories of men’s wear that attract a whole lot of demand in the market. Men’s wear clothing are usually segregated as per use and occasion – for instance, sportswear, sleepwear, and ethnic wear. Footwear is a popular category of men’s wear that is gaining a telling demand in the market. Men’s wear also differs according to culture where products right from clothing to footwear show pronounced differences and variations.
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The global men’s wear market marks the presence of top players such as Kering S.A., LVMH Moët Hennessy Louis Vuitton SE, H & M Hennes & Mauritz AB, Industria de Diseño Textil, S.A., and Gap Inc. All of these players are envisaged to remain active in the rise of the global men’s wear market.
