The global men’s underwear market size was valued at USD 20.1 billion in 2022 and is expected to register a CAGR of 4.2% from 2023 to 2030. The increasing demand for comfortable, stylish, and well-fitted underwear is a major factor driving the market. Furthermore, the rise in disposable income and the growing awareness about personal hygiene are expected to propel the market growth. Additionally, the popularity of athleisure has increased the demand for comfortable underwear, as people prefer to wear them for both leisure activities and sports.

The rise in personalization in the fashion industry has led to the increased demand for customized men’s underwear. Hence, several companies have started offering customized underwear to fulfill the needs of consumers. For instance, in March 2021, Saxx Underwear Co. launched a new collection of men’s underwear with a ‘custom fit’ feature. The collection offers a wide range of sizes and styles to fit various body types. Additionally, the growing demand for organic men’s underwear is also expected to drive the market. For instance, in January 2021, Baubax launched a new men’s organic underwear collection made of modal fabric, which is a soft, breathable, and hypoallergenic fabric.

The increasing emphasis on product innovation is driving the trend of product premiumization in the market. For instance, in February 2021, Tommy John launched a new collection of men’s underwear with a patented ‘Stay-Put Waistband’ feature, which is designed to keep the waistband in place and prevent it from slipping down. Additionally, the growing trend of online shopping has further boosted the market growth. For instance, in April 2021, Jockey India launched its digital store, offering a wide range of men’s underwear, including a collection of limited edition products. The company also offers a ‘try and buy’ option for its customers.

Moreover, the rising number of promotional activities by major players is expected to further fuel the demand for men’s underwear. For instance, in August 2021, Calvin Klein, a leading men’s underwear brand, launched its ‘underwear revolution’ campaign, to promote its new collection. The company also collaborated with various popular influencers to promote the campaign across social media platforms.

The briefs segment is expected to remain the dominant product type in the global men’s underwear market. The segment accounted for a share of nearly 40.0% in 2022. The popularity of briefs among men is primarily attributed to the comfort and convenience that it offers. This type of underwear offers more support and coverage to men, which is why it is preferred over other styles of men’s underwear. Furthermore, the availability of briefs in various fabrics such as cotton, synthetic, and modal is further driving the segment growth.

The boxers segment is expected to expand at the fastest CAGR of 7.3% over the forecast period. Boxers are the most comfortable type of men’s underwear as they provide more room for movement and air circulation. This makes them ideal for leisurewear, sleeping, and sports activities. Furthermore, the availability of boxers in various fabrics and styles, such as regular fit, relaxed fit, and performance fit, is further driving the segment growth.

The retail stores segment accounted for the major share in 2020. The growth of the segment is mainly driven by the growing consumer preference for shopping in retail stores. Consumers prefer to purchase men’s underwear in stores as they are able to touch and feel the product and make an informed buying decision. Furthermore, the availability of a wide range of products, the store ambiance, and the discounts offered by the store encourage consumers to purchase men’s underwear from retail stores.

The online segment is anticipated to witness the highest CAGR of 13.5% over the forecast period. The digital transformation of the personal care industry has been rapid, with companies launching online websites and shopping apps to increase their brand visibility among consumers. Additionally, the convenience of ordering and home delivery has made online shopping a preferred choice for purchasing men’s underwear. For instance, in 2021, Calvin Klein launched an online store for its underwear range to cater to the increasing demand for online shopping.

The boxers segment accounted for the largest revenue share of 48.5% in the year 2022. The increasing availability of boxers with enhanced features such as comfort and support has driven the demand for this segment. Furthermore, the surge in the trend of athleisure and loungewear in the fashion industry has also positively impacted this segment. For instance, in March 2021, Calvin Klein, a brand of PVH Corp., launched a new collection of fashion-forward men’s underwear called “The Core Collection” which includes boxers and trunks.

The briefs segment is anticipated to expand at the highest CAGR of 7.4% over the forecast period. Increasing demand for briefs due to their comfort, higher coverage, and support has driven the growth of this segment. Moreover, the increasing trend of customization of briefs has also propelled the growth of this segment. For instance, in March 2021, Tommy John, a brand of Tommy John Inc., launched a custom-fit underwear line for men’s briefs which provides the customers with an option to customize the product according to their body type.

Europe dominated the market and accounted for the largest revenue share of over 40.0% in 2022. This is attributed to the presence of a large number of fashion-focused customers in the region coupled with the presence of established players offering a wide range of products. For instance, in October 2021, German lingerie brand Mey launched a new collection of men’s underwear in the European market.

The Asia Pacific region is expected to be the fastest-growing region over the forecast period. This is mainly due to the increasing disposable income levels, increasing awareness regarding personal hygiene, and the presence of a large number of international players in the region. For instance, in August 2021, Hanesbrands launched a new range of men’s underwear in the Asia Pacific market.

In this part of the men’s underwear products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your men’s underwear products business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions

The main source of revenue for a men’s underwear products business comes from direct sales of the product, as well as wholesale distribution, advertising revenue, and subscription services. Here you will find a list with a description of each of these categories and other possible sources of profit such as fundraising, the sale of merchandise, and leasing the facility for parties and corporate events.

Projecting Expenses

In this section, all the regular expenses related to keeping the men’s underwear products business running will be described. The list of operating expenses includes materials and supplies, wages, maintenance and repairs, utilities, insurance policies, advertising, product development costs, and others.

Some of the key companies operating in the market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In April 2022, Calvin Klein launched a line of men’s underwear made from recycled plastic bottles.

– In June 2022, Tommy Hilfiger launched a new line of men’s underwear featuring a modern fit and premium fabrics.

– In August 2022, Fruit of the Loom launched a new range of men’s underwear with a focus on comfort and breathability.

Some of the prominent players in the men’s underwear market include:

– Calvin Klein
– Tommy Hilfiger
– Fruit of the Loom
– Hugo Boss
– Jockey International
– Hanesbrands Inc.
– Levi Strauss & Co.
– Gap Inc.
– American Eagle Outfitters
– PVH Corp.

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global men’s underwear products market based on product, distribution channel, type, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Boxers
– Briefs
– Trunks
– Thermal Underwear
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Departmental Stores
– Specialty Stores
– Online
– Others

3. Type Outlook (Revenue, USD Million, 2017 – 2030)

– Mass
– Premium

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What is the Potential of Product Innovation in the Men’s Underwear Market?
[A]: Innovations in design, fabric, and technology are driving the growth of the men’s underwear market. Manufacturers are focusing on developing products with unique features such as moisture-wicking and quick-drying fabric, which enhances the comfort and convenience of the product. Additionally, the introduction of innovative features, such as anti-odor and anti-bacterial properties, is driving the innovation in the men’s underwear market.

[Q]: Who are the Key Players in the Men’s Underwear Market?
[A]: Key players include Hanesbrands Inc., PVH Corp., Jockey International Inc., Triumph International Corporation, LVMH Moët Hennessy – Louis Vuitton SE, Gunze Ltd., Delta Galil Industries Ltd., Fruit of the Loom Inc., and others.

[Q]: Which Regions Offer the Largest Opportunity for Sales of Men’s Underwear?
[A]: North America is expected to be the largest region for men’s underwear market, followed by Europe and Asia Pacific. The U.S. is expected to be the largest market for men’s underwear in North America.

[Q]: What Factors are Driving the Men’s Underwear Market?
[A]: Factors such as the increasing demand for functional and fashionable products, the rise in disposable income, and the growing awareness about personal hygiene and comfort are driving the growth of the men’s underwear market. Additionally, the increasing acceptance of men’s underwear as a fashion statement is expected to fuel the growth of the market.