According to a new market report published by Persistence Market Research, titled “Men’s Underwear Market: BRIC to Witness Highest Growth by 2020
”, the men’s underwear market
is projected to account for US$ 8,420.8 Mn by the end of 2015 at a CAGR of 5.8% from 2015 to 2020, to reach US$ 11 Bn by 2020.
There are generally two types of men’s undergarments; one type covers the torso and the other covers the waist and legs. For undershirt, we include vest, sleeved vest and muscle vest. For briefs, we include regular briefs, trunk and boxer shorts. Long underwear is preferred to offer extra warmth to wearers during winters.
Growing disposable income, preference for branded underwear that offer better fit and comfort are major factors fuelling demand for premium underwear, thereby driving the growth of the men’s underwear market. However, a high degree of competition and unorganised market in developing countries are major factors hampering the growth of the overall men’s underwear market. The men’s underwear market is anticipated to expand at a CAGR of 5.8 % from 2015 to 2020, to reach US$ 11,167.6 Mn by 2020.