Due to the importance of personal hygiene, increased disposable income, lifestyle changes, improved living standards, and changes in consumer preferences, sales of men’s underwear and lingerie products in the United States are expected to increase in the coming years. . Most manufacturers choose to outsource production to achieve economies of scale, and labor costs and raw material costs in the United States are relatively high compared to developing countries. Therefore, low-cost mass production enables leading brands to sell underwear at competitive prices.
According to a study conducted by the Persistent Market Research (PMR), the compound annual growth rate of the US men’s underwear and lingerie market is expected to be 5.5% and 5.7%, respectively, from 2016 to 2024. In addition, retail formats such as modern dissemination pharmacies, discount stores and supermarkets are bringing higher product visibility.
In 2015, the boxer briefing segment accounted for more than 30% of the market, reaching a market valuation of $975.8 million and possibly expanding at a compound annual growth rate of 6.1% during the assessment period. In the women’s underwear section, the bra is expected to be the fastest growing segment since 2024.
Depending on the size, the XXXL size requirement is expected to maximize traction in the men’s underwear section. This is mainly due to the increase in the prevalence of obesity in the United States.
For those between the ages of 26 and 35, boxer shorts are becoming more popular, and boxers in the male underwear segment are expected to be more demanding than other age groups. The 26-35 age segment is expected to generate a healthy revenue contribution to the market.
For men’s underwear and lingerie products, the mid-priced market share accounts for nearly 42% of the market. Due to the growing trend of single-brand underwear retailing and the increasing preference of men for sports underwear, the high-end price range of the men’s underwear sector is expected to be at a compound annual growth rate of 6.9%.
On the basis of distribution channels, the proportion of the mass goods sector in the male underwear sector in 2015 is close to 67.4%, and is expected to grow at a compound annual growth rate of 4.9% during the forecast period. The division is expected to maintain its leading position, accounting for approximately 60% of the share in 2024.
It is expected that by 2024, online stores in the men’s underwear and women’s underwear market will account for nearly 19% of the total, which reflects the compound annual growth rate during the evaluation period. In addition, it is expected that the online store will become the second largest distribution channel segment after the end of the forecast period.
In 2014, the US men’s underwear market was dominated by the top five players in the organized market, accounting for an astonishing 85% share. Key stakeholders in the US men’s underwear and lingerie market include Jockey International, American Eagle Outfitters Inc. Victoria’s Secret, Fruit of the Loom, Commando LLC, Hanes brand Inc., Ralph Lauren Corporation, Calvin Klein, Hanky Panky, Cass and Company And Philips Van Heusen.