by Men’s underwear is a type of men’s clothing worn next to the skin which serves to protect, protect and enhance the appearance of what they cover. They come in a variety of styles ranging from basic briefs and trunks to boxer shorts, long johns, and other specialized underwear for specific athletic or other activities. The market has evolved over the past few years with the introduction of new styles, fabric technologies and supportive features focusing on enhanced comfort, fit, moisture-wicking and breathability. This has led to rising demand among consumers for underwear that offer heat and moisture management, anti-odor properties, and a relaxed fit over tight fabrics. Innovation and development of performance and specialty fabrics like modal, spandex, and cotton blend have further augmented the underwear market.
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 key trends:
One of the key trends gaining traction in the U.S. men’s underwear market is the increasing demand for sports and active underwear. Many men are increasingly engaging in outdoor and recreational activities which has driven the demand for underwear featuring attributes like moisture-wicking, breathability, support and flexibility. Leading brands are introducing performance boxer briefs and trunks made from technical fabrics to meet the needs of an active lifestyle. Another notable trend is the rising popularity of customized and personalized underwear options. Online retailers are offering men’s options to customize fits, colors, prints and designs of their underwear based on personal style and preferences. This has increased consumer engagement while allowing self-expression. Growing exposure through social media and online reviews has further contributed to this customization trend in the market.
Porter’s Analysis
Threat of new entrants: The U.S. men’s underwear market is highly competitive due to established brands. However, new brands can enter the market by developing innovative designs and convenient fabrics.
Bargaining power of buyers: Buyers have high bargaining power due to availability of numerous established brands offering diverse styles and price points. Buyers can easily switch to substitutes.
Bargaining power of suppliers: A few main fabric suppliers exist, giving them moderate bargaining power over pricing and contracts. Suppliers also depend on established brands for bulk orders.
Threat of new substitutes: Substitutes include other innerwear, casual shorts and pants. However, brand loyalty and need for comfort keep substitutes at bay.
Competitive rivalry: Major players compete on pricing, marketing, and product differentiation. However, market is large enough to accommodate new entrants and sustain existing brands.
Key Takeaways
The U.S. Men’s Underwear Market Demand is expected to witness high growth during the forecast period. The western region currently dominates the market owing to high disposable incomes and preference for fashion and styles. Key cities such as Los Angeles, New York, and Chicago contribute significantly to regional sales.
Regional analysis
The western region accounts for over 35% value share led by California and urban centers. Growing health awareness and influence of celebrity endorsements propel sales. The southern region follows with more than 25% share and witnessed fastest gains in recent years due to rising affluence.
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. Players compete on brand recognition, fit, breathability, designs and marketing campaigns.
Note:
Source: Coherent Market Insights, Public sources, Desk research
We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
