The men's top wear market is expected to grow by USD 58.02 billion during 2020-2024, expanding at a CAGR of over 6%. The report also throws light on the impact of the COVID-19 pandemic on the market and the new opportunities and challenges market players can expect. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the market in optimistic, probable, and pessimistic forecast scenarios. - Download Free Sample Report on Pandemic Recovery Analysis
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Technavio has announced its latest market research report titled Global Men’s Top Wear Market 2020-2024 (Graphic: Business Wire).
Men's Top Wear Market: Increasing Demand for Luxury Men's Top Wear to Drive Growth
The increasing demand for luxury men's top wear will be a significant factor driving the growth of the men's topwear market. The rising demand from middle-class customers, growing demand for branded products, and changing fashion trends have encouraged market vendors to offer luxury men's apparel, including men's top wear. The increasing brand-consciousness among customers, especially from North America and Europe, has also boosted the adoption of premium shirts and t-shirts. Several market vendors are offering premium men's top wear designed specifically for high-end customers. For instance, premium men's top wear offered by Kering under the brand name Gucci are available in unique designs and suitable for any occasion. LVMH also offers premium products, such as CLASSIC DAMIER PIQUE POLO and CLASSIC LONG SLEEVE PIQUE POLO, under the brand name LOUIS VUITTON. The rising demand for such luxury men's top wear is expected to fuel the growth of the market during the forecast period.
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As per Technavio, the rising demand for organic men's top wear will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Men's Top Wear Market: Rising Demand for Organic Men's Top Wear
Synthetic dyes and chemicals present in clothes may cause skin allergies and diseases. Customers increasingly prefer organic clothes, including men's top wear, to prevent such skin problems and diseases. The rising demand for organic men's top wear, which is one of the critical men's top wear market trends, has encouraged market vendors to offer organic shirts and t-shirts. Although the cost of organic men's top wear is higher than chemical-based fabric men's top wear, the high quality of organic clothes will boost its adoption among customers. These factors will positively impact the market growth.
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Men's Top Wear Market: Segmentation Analysis
This market research report segments the men's top wear market by Distribution channel (offline and online) and Geographic Landscape (APAC, Europe, MEA, North America, and South America).
APAC was the largest market for men's top wear in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Growing urbanization, increasing disposable income, and strategic business agreements by vendors are some of the significant factors responsible for men's top wear market growth in this region. China is a key market for men's top wear in APAC. Market growth in this region will be faster than the growth of the market in Europe and North America.
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Some of the key topics covered in the report include:
Market positioning of vendors
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