by The U.S. men’s underwear market features various products such as boxer briefs, boxer shorts, briefs, trunks, and other specialty products. Underwear provides comfort, breathability, and a fashionable look. The adoption of sustainable materials in manufacturing underwear is growing rapidly. 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:
Sustainable luxury underwear has seen tremendous growth over the past few years. The adoption of eco-friendly materials such as organic cotton, bamboo, and recycled fabrics has increased. Luxury underwear brands are integrating sustainability into their core business model and practices to meet the rising consumer demand for sustainable clothing. The production process focuses on minimizing waste and using recycled materials to lower the environmental impact. Companies developing environment-friendly underwear made from renewable resources are expected to drive significant market growth over the forecast period.
SWOT Analysis
Strength: The U.S. men’s underwear market has a large consumer base due to growing population and changing fashion trends.
Weakness: Presence of local and private label brands providing lower priced alternatives.
Opportunity: Growth in demand for specialized products catering to various age groups and incorporating new fabric technologies.
Threats: Stiff competition amongst established players and threat from emerging economies.
Key Takeaways
The global U.S. Men’s Underwear Market Demand is expected to witness high growth.
Regional analysis: North America dominates the U.S. men’s underwear market currently accounting for over 50% share. The region’s market is expected to remain dominant owing to high disposable incomes and growing trend of luxury innerwear in the US and Canada.
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. These players are focusing on expanding their product portfolio and production facilities to cater growing demand.
Note:
Source: Coherent Market Insights, Public sources, Desk research
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