• Analysis and Studies
• Men Underwear market

A special economic predictor

Men underwear sales are a key economic predictor of an incoming recession; at least, this is what Alan Greenspan is convinced of. This is just one of the various goods that help finance experts make predictions about future economic movements of a country.

Actually, what can be seen is that, for example, US sales of men's underwear fell significantly from 2007 to 2009, during the Great Recession, but gained steam again in 2010 as the economy recovered. This can be verified in the history of the US Men’s underwear index.

Usually men will stop buying underwear when economic times are taking a downturn. In the opposite, they will purchase underwear when economic times are taking an upturn.

Some data about the market

The global men's underwear market size was estimated at USD 31.25 billion in 2019, increasing from 2018 when it was valued USD 29.41 billion. Here we’re talking about sales which increased from one year to another.

As OEC tells us, however, the product category of 6 digits Mens, boys underpants or briefs, of cotton, knit was valued $3.78B. Between 2019 and 2020 its exports decreased by -10.3%, from $4.21B to $3.78B. These data reflect both the period of economic recession and the trade barriers imposed by the pandemic.

In 2020, sales of men’s undergarments (including underwear bottoms and undershirts) increased +2% while the total men’s apparel category was down -12%. Experts agree on the fact that the trend for underwear did not follow the downward one of the entire apparel industry because with the pandemic people invested more on essential goods and on garments that prioritize comfort.

What are the countries with highest exports and imports of this good?

Exporters: China ($884M), Bangladesh ($466M), Netherlands ($265M), Vietnam ($244M), and India ($202M).

Importers: United States ($703M), Germany ($432M), United Kingdom ($246M), Netherlands ($240M), and France ($180M).

What are the expectations for the future?

The men’s underwear market is expected to be growing at a growth rate of 5% in the forecast period of 2021 to 2028. These expectations obviously have difficulties in predicting certain periods of downturn like it happened with the coronavirus: in those cases, as Greenspan says, men underwear trends will be meaningful.

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