The market size of the global men's underwear industry was $10.14 billion in 2018, which is expected to grow at a CAGR of 5.3% from 2019 to 2025.
The global menswear market is expected to grow with a CAGR of 4.7% over the period spanning 2018-2023.
Millennials are driving growth in the luxury segment owing to the adoption of luxury lifestyles.
Menswear is likely to outpace womenswear, which represents the larger chunk of the $1.7 billon industry, in terms of sales by 2022.
Men's apparel is projected to grow by 1.9% in 2021 as compared to 1.4% growth of women's apparel.
Celebrity endorsement is one of the factors that significantly influences the growth in the adoption of fashion trends within the menswear market.
The key regions of growth for the luxury menswear apparel include Asia Pacific (China, India, and Japan), Latin America (Mexico, Argentina, and Brazil), and Middle East & Africa (South Africa, Saudi Arabia, and Morocco).
Some of the key players in the global luxury apparel market include Georgia Armani, Burberry, Prada, and Dolce & Gabbana among others.
The key players operating in the global swimwear market include Haddow Group Plc, Nike Inc., Boardriders, Inc., Arena Italia S.p.A., Swimwear Anywhere, Inc., Adidas AG, Dick's Sporting Goods, Gap Inc., Phillips-Van Heusen Corporation (PVH Corp.), and Perry Ellis International Inc.
The key players operating in the global underwear market include Phillips-Van Heusen Corporation; Hanesbrands Inc.; Jockey International Inc.; Ralph Lauren Corporation; Levi Strauss & Co.; American Eagle Outfitters Inc.; Naked Brand Group Inc.; Perry Ellis International Inc.; HUGO BOSS; and Berkshire Hathaway Inc.
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