The global men’s t-shirts market size is expected to reach USD 54.1 billion by 2028, according to a new report by Million Insights. The market is expected to expand at a CAGR of 4.3% from 2021 to 2028. This can be attributed by growing demand for t-shirts from emerging economies owing to growing population.
With the swift urbanization, the shoppers are more inclined toward branded products that have reinforced the growth of this market. Furthermore, an enhanced exposure to e-commerce and internet and availability of rare and high-end brands products has upgraded the fashion consciousness among consumers. Also, the changes in lifestyle and upsurge in the use of biodegradable products such as eco-friendly and sustainable t-shirts propel the growth of the market.
Furthermore, increasing interest of consumers toward sports activities might generate an opportunity for the global market. Similarly, the upsurge in sales of branded clothes has promoted the growth factor. Additionally, several market players are partnering with e-commerce platforms to intensify infiltration in the intact markets by promoting sales of their products. However, the market has witnessed a significant decline in the global market owing to the closure of factories and retailing sectors triggered by the COVID-19 pandemic. Moreover, the cessation of sport activities, further may hit the growth of this market.
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The t-shirt type segment accounted for the largest revenue share of over 75.0% in 2020. This growth is credited to the accumulative demand for these products in developing regions. Rising adoption of sustainable and eco-friendly t-shirts among millennial may drive the growth of this segment in coming years. Additionally, rising usage of cotton t-shirts in some regions may also play some positive role in the growth of this segment.
The online segment will register the fastest CAGR of 5.5% from 2021 to 2028. This can be credited to the rising a popularity and usage of e-commerce platforms. Major manufacturers are partnering with online retailers intending to reach out to new buyers. Correspondingly, an increase in sales of men’s t-shirts mainly through company-owned websites and other e-commerce platforms such as Amazon, Walmart, etc., is further projected to drive the growth of the online distribution channel segment in the coming years.
Asia Pacific led the market in 2020 and accounted for the largest revenue share of more than 40% in 2020. This is due to the growing demand for t-shirts from developing countries, such as India, and China due to rising population. Prompt growth of China’s economy, and growing purchasing power amongst China’s urban middle class consumers drives the growth of this market. Additionally, demand in apparel quality, and brand awareness drive this region’s men’s t-shirt market.
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Men’s T-shirts Market Report Highlights
• Europe is expected to witness CAGR of 4.5% from 2021 to 2028 owing to rising demand for t-shirts among youth population due to latest fashion trends
• The t-shirt type segment contributed to the highest revenue share of more than 75.0% in 2020 due to rising demand from developing as wells as developed regions
• Asia Pacific dominated the market and accounted for the largest revenue share of over 40.0% in 2020 due to rising demand for t-shirts owing to growing population in this region
• The offline distribution channel held the largest revenue share in 2020 and contributed more than 70.0% of the total revenue owing to the improvement of the organized retail sales sector globally
Men’s T-shirts Market Segmentation
Million Insights has segmented the global men’s T-Shirts market on the basis of type, distribution channel, and region:
Men’s T-Shirts Type Outlook (Revenue, USD Million, 2017 – 2028)
Men’s T-Shirts Distribution Channel Outlook (Revenue, USD Million, 2017 – 2028)
Men’s T-Shirts Regional Outlook (Revenue, USD Million, 2017 – 2028)
List of Key Players of Men’s T-shirts Market
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