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Mens And Boys Clothing Market Report
Men’s and Boy’s Clothing Market Trends, Dynamics & Market Insights
The Men’s and Boy’s Clothing Market is estimated to grow from USD xx million in 2020 to USD xx million by 2026 at a healthy CAGR of 5.5% during the forecast period.
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Men’s and boy’s clothing consists of daily wear, office wear, school wear for boys, and luxury wear for occasions. These clothing include trousers, denim, t-shirts, winter wear, and sportswear, among others. The clothing is available in various sizes and fabrics to suit the customer’s needs.
Key players operating in the men’s and boy’s clothing market are-
Increasing exposure to e-commerce and the internet has significantly improved the fashion consciousness and availability of high-end brands and rare products, thus boosting market growth. Also, the growing adoption of the luxury lifestyle among consumers has influenced the purchasing power to opt for luxury wear among millennials. Men tend to spend heavily on party wear, fashion wear, and sportswear, thus augmenting the product demand.
Based on distribution channels, the men’s and boys’ clothing market is bifurcated offline and online. The online segment held a significant market share in 2020 and is estimated to register a healthy CAGR during the forecast timeline. This is mainly attributed to increasing internet penetration, the growing influence of media, and marketing strategies adopted by e-commerce platforms such as celebrity endorsements, promotional discounts, and festive sales, which bolsters the segment growth.
By region, the Asia Pacific market accounted for a significant share in 2020 and is expected to grow at a substantial CAGR in the following years. This is mainly ascribed to strong growth and increasing urbanization, which has spawned a modern class of consumers with more money to spend and a growing passion for current fashion, the large presence of textile and fabric companies, and cheap labor further proliferate the regional market growth.
The COVID-19 outbreak has moderately affected the men’s and boys’ clothing industries. The pandemic has turned the lives of people worldwide, with the number of cases increasing rapidly. The pandemic resulted in a decline in the sales of men’s and boy’s clothing due to consumer buying behavior shift towards essential commodities. Also, due to lockdown people were stuck in their homes, thus resulting in higher sales of homeware and a decline in sales of luxury wear and party wear.
Here is the list of the group of customers that the men’s and boy’s clothing market hopes to have the greatest opportunity to convert-
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Gap, Inc. (the US), Aditya Birla Management Corporation Pvt. Ltd. (India), Inditex (Zara) (Spain), Kering (France), Nike (US), PVH Corp (US), Adidas (Germany), Burberry Group PLC (UK), Her-mes (France), and Reebok (UK) are among the key players in the men’s and boy’s clothing market.
The men’s and boy’s clothing market is expected to witness an impressive growth of 5.5% CAGR in the coming years.
The online segment is expected to register a healthy CAGR in the men’s and boy’s clothing market in the coming years.
Asia-pacific is expected to grow at a substantial CAGR in the men’s and boy’s clothing market during the forecast period.
Men’s and boy’s clothing vendors, Men’s and boy’s clothing retailers, Fabric companies, E-commerce companies are the target audience in the men’s and boy’s clothing market.
Growing adoption of the luxury lifestyle among consumers, increasing exposure to e-commerce and internet are the factors driving the growth of men’s and boy’s clothing market.
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