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long underwear are preferred to provide extra warmth. Growing disposable income

Time:2019-05-14 18:18Underwear site information Click:

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New York, NY -- (SBWIRE) -- 05/09/2019 -- 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.

Undergarments help to avoid soiling of outerwear are generally of two types: upper body and lower body garments, which cover the torso and waist and legs respectively. For undershirt, we include vest, sleeved vest and muscle vest. For briefs, we include regular briefs, trunks and boxer shorts. In winters, long underwear are preferred to provide extra warmth.

Growing disposable income, preference for branded underwear that offers better fit and comfort are major factors fuelling demand for premium underwear, thereby driving the growth of the men's underwear market. Major trends in the men's underwear market are increased the adoption rate of functional underwear, consistent investment in branding and marketing and a surge in acquisitions and mergers.

The high degree of competition and unorganised market in developing countries are major factors hampering the growth of the men's underwear market.

The global clothing and accessories market was valued at around US$ 1,229.4 billion in 2014. The men's clothing and accessories market accounted for 38.7% of the global market in 2014 and was valued at US$ 437.7 billion. Revenue contribution by the men's underwear market to the global men's clothing market was US$ 8.0 billion in 2014 and is expected to increase to US$ 11.7 billion by the end of 2020 at a CAGR of 5.8%. Organised retail penetration and penetration of mono-brands and multi-brand outlets worldwide is driving sales of branded clothing products.

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Key market players covered in this report are Hanesbrands Inc., Philips-Van Heusen Corporation, Ralph Lauren Corporation, Jockey International Inc., American Eagle Outfitter Inc., Iconix Brand Group Inc., J.C. Penny Corporation, Inc. and Berkshire Hathaway Inc. Major players in men's underwear market focus on enhancing their global and regional presence through acquisitions and mergers and operational expansion.

By region, BRIC dominated the market with over 35% market share and is expected to remain dominant throughout the forecast period. Europe was the second dominant region with 17.4% share in 2014. The men's underwear market in Europe and North America is expected to expand at CAGRs of 5.1% and 3.9% respectively during the forecast period. On the basis of age group, the market has been segmented into 15–25, 26–35, 36–45, 46–55 and 56 and above. The 36–45 segment accounted for 24.2% share of the global men's underwear market in 2014 and is expected to register a CAGR of 5.8% over the forecast period. On the basis of distribution channel, the market has been segmented into online sales and offline sales, where offline sales are further sub-segmented into the mass merchant, speciality store, mono-brand store and others. The online sales segment accounted for 7.7% share of the global men's underwear market in 2014 and is expected to register the fastest CAGR of 12.8% over the forecast period. Mass merchant sub-segment accounted for a dominant market share of around 58.5% in 2014.

Browse the full Men's Underwear Market: BRIC to Witness Highest Growth by 2020 report at https://www.persistencemarketresearch.com/market-research/underwear-market.asp

Key market players covered in this report are Hanesbrands Inc., Philips-Van Heusen Corporation, Ralph Lauren Corporation, Jockey International Inc., American Eagle Outfitter Inc., Iconix Brand Group Inc., J.C. Penny Corporation, Inc. and Berkshire Hathaway Inc. Major players in men's underwear market focus on enhancing their global and regional presence through acquisitions and mergers and operational expansion.

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