Over the last few years, the expansion in the manufacturing sector in the US has significantly developed the GDP of the nation, eventually stirring the per capita disposable income. The US populace has also perceived transformation when it comes to intimate apparel products. The people are now viewing these products in more of a fashion point of vision than the basic necessity. This has considerably boosted the demand for fashionable and stylish underwear in an affirmative way. Retails set-ups such as discount stores, pharmacy stores and superstores have developed at the lucrative pace in the past few years. Also, these set-ups have significantly enhanced the product visibility in the US region.
Discount offered by several online retailers have also amplified more prominence for these products. These sites s are obtainable 24*7 on the internet. Moreover, escalation in the personal income of the US populace has stimulated men’s underwear and women’s lingerie regional demand. US men’s underwear market was valued at over US$ 3,000 million in the year 2015 and is further displaying profitable year on year growth rate of around 4%. Moreover, the overall industry is said to accumulate shares of over US$ 5,000 million during the forecast period (2016-2024). On the other hand, women’s lingerie segment is expected to collect US$ 15 Bn by the end of the assessment period.
XXXL to witness greatest demand further
Men’s underwear market by types comprises of thongs, regular brief, boxer brief, trunks, and boxer shorts. In 2015, box brief was estimated at US$ 975.8 million and consumed for more than 30% of the total shares in the same year. It is expanding at the lucrative CAGR of over 6.1%. Types of underwear segments are XS, S, M, L, XL, XXL, and XXXL. XXXL is expected to undergo the maximum demand in the coming years. This could be attributed to the intensifying obesity.
Online stores, mass merchants, pharmacy stores, mono-brand outlet are the major distribution channels in the market. Mass merchant is the prominent segment and its revenues notably reached at 67.4% in the year 2015. The segment is expanding at the lucrative CAGR of 4.9% in the near future.
A sample of this report is available upon request @ http://www.persistencemarketresearch.com/samples/13753
The people in the US are nowadays are giving high importance to the personal hygiene and have also upgraded their standard of living, therefore, driving the market for men’s underwear and women’s lingerie at the beneficial pace. Sales in the U.S. men’s underwear market is anticipated to grasp more than 600 Mn units by the end of 2024. The growth in demand for lingerie in the region has fueled the market demand in the year 2015, it was assessed at more than US$ 10 Bn and is likely to collect over US$ 15 Bn by the end of 2024. It will grow at the sturdy CAGR of 5.7%. The market is expected to be influenced by rising accessibility of products essentially in online lingerie stores. Jockey International, American Eagle Outfitters Inc., Ralph Lauren Corporation, Victoria’s Secret, Fruit of the Loom, Commando LLC, Hanes brand Inc., and Calvin Klein are said to be the key players operating in the market.