by The global U.S. Men’s Underwear Market is estimated to be valued at US$ 3.37 Billion in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The U.S. Men’s Underwear Market involves products such as briefs, boxer briefs, boxer shorts, trunks and other customized products. These undergarments provide necessary care, protection and comfort in daily wear. The men’s underwear products are manufactured using variety of fabrics such as cotton, polyester, nylon, spandex and other blended fabrics. The versatility of fabrics allows for improved breathability, flexibility and temperature regulation for the wearer. With increasing focus on fitness and well-being, innovative active-wear fabrics are being adopted which keep the wearer dry and comfortable during workouts or physical activities.
Market Key Trends:
The key trend influencing the U.S. Men’s Underwear Market is increased adoption of blended fabrics. Earlier cotton was predominantly used in men’s underwear, however, the market has witnessed rising popularity of blended fabrics. Fabrics blended with spandex or elastane offer superior stretch and recovery. Fabrics blended with modal or tencel are softer and more breathable. Manufacturers are employing performance fabrics blended with bamboo, polyester or nylon which have moisture-wicking properties. These blended fabrics regulate temperature, keep the skin dry and minimizes odour-causing bacteria. With the availability of innovative blended fabrics, the comfort, fit and functionality of men’s underwear have improved significantly.
Porter’s Analysis:
- Threat of new entrants: The threat of new entrants is moderate as the U.S. mens underwear market is dominated by few major established brands. However, new players can enter the market with innovative niche products.
- Bargaining power of buyers: The bargaining power of buyers is high as there are numerous substitutes available in the market. Buyers can easily switch to other private labels if brand loyalty is lacking.
- Bargaining power of suppliers: The bargaining power of suppliers is moderate. A few major suppliers exist for raw materials like cotton, but customers can source from other suppliers as well.
- Threat of new substitutes: The threat of new substitutes is high as alternate clothing categories like shorts, polos are used as substitutes depending on season and occasions. New fabric technology poses a threat.
- Competitive rivalry: Competition in the U.S. mens underwear market is high among major global brands like Hanesbrands, Jockey and Fruit of the Loom to gain market share.
Key Takeaways:
The Global U.S. Men’s Underwear Market Size is expected to witness high growth, exhibiting CAGR of 5.4% over the forecast period, due to increasing demand for comfortable and breathable underwear from millennials and Gen Z. The market size for 2023 is estimated to be US$ 3.37 Bn.
The western region dominates the U.S. mens underwear market with the largest market share due to hot and humid weather conditions in regions like California that contribute to the demand for breathable underwear. Southern states also have a growing market due to popularity of outdoor activities like swimming that drive the need for quick drying fabrics.
Key players operating in the U.S. mens underwear market are Hanesbrands, Jockey, Fruit of the Loom, Calvin Klein, and Tommy Hilfiger. Hanesbrands dominates the market with its extensive product portfolio and strong distribution network across the country. Fruit of the Loom and Jockey also hold significant market shares with their affordable basics and premium collections respectively.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
