U.S. Men's Underwear Market is Estimated to Witness High Growth Owing to Rising Demand for Comfortable and Breathable Undergarments

U.S. Men's Underwear Market

 The U.S. men's underwear market comprises various types of undergarments such as briefs, boxer shorts, and trunks. Men's underwear provides comfort, support, and breathability for daily activities. Various fabrics such as cotton, polyester, modal, and spandex are used in underwear for their absorbency and stretchable properties. Rising consumer preference for comfortable and breathable clothing has increased the demand for moisture-wicking and lightweight fabrics in underwear. Moreover, the inclusion of innovative features such as fly-free styling and additional supportive pouches have enhanced the product offerings.

The global U.S. Men's Underwear Market is estimated to be valued at US$ 3.37 Bn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics

Rising demand for comfortable and breathable undergarments and increasing consumer preference for innovative product features are estimated to drive the U.S. men's underwear market over the forecast period. The inclusion of moisture-wicking and lightweight fabrics provides breathability and eliminates dampness. Additionally, advanced features such as fly-free styling and supportive pouches have increased the adoption of innovative underwear. Moreover, rising fashion consciousness among younger consumers has augmented the demand for designer and printed underwear, thereby fueling the market growth.

SWOT Analysis

Strength: The U.S. men's underwear market has several established brands with loyal customer bases. Many brands focus heavily on product quality, comfort, and latest styles and designs. This results in repeat customers and positive brand image. The market also offers a wide variety of products at various price points to cater to all customer segments.

Weakness: Independent brands in the market face intense competition from established players with larger marketing budgets. Economic slowdowns can cause customers to prefer cheaper alternatives over premium products. Sometimes rapidly changing fashion trends make inventory management challenging for manufacturers and retailers.

Opportunity: Rising health consciousness among consumers is driving demand for products made of premium fabrics like cotton and bamboo that provide better breathability. Increased adoption of e-commerce provides new sales channels for brands. Demographic trends like rising millennial population indicate future market potential.

Threats: The market faces threats from low-cost private labels introduced by major retailers. Unorganized local manufacturers also capture market share through price competitiveness. Strict regulations around product claims and themes can limit marketing strategies of some brands.

Key Takeaways

The global U.S. Men's Underwear Market Demand is expected to witness high growth over the forecast period of 2023 to 2030 supported by rising household incomes. The market size for 2023 is estimated at US$ 3.37 billion.

Regional analysis: California accounts for the largest share in the U.S. men's underwear market currently due to high per capita spending capability of consumers and presence of many premium brands. The western region dominates overall followed by northeastern states. Southern states are witnessing rapid growth in demand driven by urbanization and rising youth population.

Key players: Key players operating in the U.S. men's underwear market are Pfizer, Roche, Johnson & Johnson , Novartis, Merck & Co, GlaxoSmithKline, Sanofi, AbbVie, Amgen, AstraZeneca, Bristol-Myers Squibb, Eli Lilly, Teva Pharmaceutical, Bayer , Novo Nordisk, Allergan, Gilead Sciences, Boehringer Ingelheim, Takeda Pharmaceutical, Biogen

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