NEW YORK, Jan. 29, 2022 /PRNewswire/ — The latest market outlook report titled “Menswear Market by Product, Distribution Channel and Geography – Forecast and Analysis 2021-2025” has been added to Technavio’s catalog. This recent market analysis report identifies the market to witness a potential growth difference of USD 182.66 billion from 2020 to 2025. The menswear market is anticipated to record an accelerating growth momentum at a CAGR of 5.72% during this period.
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Parent Market Overview
Technavio categorizes the menswear market as a part of the apparels, accessories, and luxury goods within the consumer discretionary industry. The growth of apparels, accessories, and luxury goods market mainly is attributed to rising working men population, demand for eco-friendly products, and product innovation and portfolio extension leading to product premiumization.
To estimate the market size of the global menswear market, Technavio has tracked the latest trends and developments in the industry. The segmentation by product, distribution channel, and geography has been reviewed both quantitatively and qualitatively.
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Market Competitive Landscape
The menswear market is fragmented. The degree of fragmentation is likely to intensify in the upcoming years as the vendors are expanding their presence worldwide to compete in the market. Technavio has classified the industry-focused market players into dominant and strong players based on their annual revenues and market shares in this report. Some of the key players covered in this report include H and M Hennes and Mauritz AB, Industria de Diseno Textil SA, Kering SA, Levi Strauss and Co., LVMH Moet Hennessy Louis Vuitton SE, Nike Inc., PVH Corp., Ralph Lauren Corp., The Gap Inc., and VF Corp. among others.
Strategic Initiatives and Products launches
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H and M Hennes and Mauritz AB. – The company offers its clothing, accessories, footwear, cosmetics, home textiles, and homeware to consumers across various geographic segments including Asia and Oceania, Europe and Africa, North and South America, and other segments.
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Kering SA: The company offers various types of products such as watches, handbags, and apparels through its luxury houses segment.
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Nike Inc.: The company offers footwear, apparel, equipment, and others. In the apparel segment, they offer Nike Pro tops and t-shirts, hoodies and pullovers, jackets and vests, pants and tights, shorts, socks, accessories, and equipment for football, basketball, golf, skateboarding, and tennis.
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