The menswear segment in India has seen a surge in homegrown brands like Snitch and Flying Machine as well as in designers who are blending traditional Indian aesthetics with contemporary designs, appealing to a broader audience…
Introduction
India’s menswear market has witnessed significant growth and transformation over the past few decades, emerging as a dynamic and lucrative segment within the broader fashion industry. This growth is driven by several factors, including rising disposable incomes, increasing fashion consciousness among men, rapid urbanisation, and the influence of global fashion trends. Traditionally dominated by basic and formal attire, the market has diversified to include various options, from casual and sportswear to ethnic and fusion wear, catering to the varied tastes and preferences of the modern Indian male consumer. The sector has seen a surge in homegrown brands like Snitch and Flying Machine and designers blending traditional Indian aesthetics with contemporary designs, appealing to a broader audience. This shift reflects a broader trend of consumers increasingly valuing individuality and personal style over conventional dress codes.
Have you ever thought about how much a single piece of clothing can influence our sense of style and identity? Picture this: a simple piece of fabric, carefully crafted centuries ago, now stands as a symbol of timeless fashion. It’s a fascinating idea that invites us to explore the rich history of men’s fashion and its lasting impact on how we dress today. In this article we’ll gain insights into the trends that will shape the future of men’s fashion, focusing on the growing menswear market in India. We’ll look at its size, categories, growth drivers, current trends, challenges, and what lies ahead.
Market Size of Menswear in India
The Indian menswear market is a significant sector, with a market size of $31.10 billion, accounting for ~44% of the overall garment sales in the country. The market is expected to grow at a CAGR of 3.9% expecting to reach $36.28 billion by FY28. The growth is driven by factors such as the increasing demand for Western wear, the growing preference for comfort, sustainability, and luxury menswear, and the adoption of new technologies and innovations in the industry.
Note(s): All values are expressed in US$B
Source(s): Market insights, Statista; 1Lattice Analysis
Categories of Menswear
Shirts and trousers continue to be the dominant categories in the menswear segment. Denim and T-shirts have also seen substantial growth and remain important categories. A new category, activewear combined with athleisure, is emerging as a high-growth segment in menswear. Casualization has been a fashion trend for some time, and athleisure transcends traditional sportswear boundaries by offering a blend of active and casual wear with a stylish appeal. This trend is expected to continue driving growth in the menswear market as consumers seek versatile and comfortable clothing options. Following are some of the major categories in the menswear market:
- Casual Wear: This category includes T-shirts, jeans, casual shirts, and chinos. It is the largest segment, driven by the growing trend of comfort and casual dressing.
- Formal Wear: Comprising suits, blazers, formal shirts, and trousers, this segment caters to professionals and corporate executives.
- Ethnic Wear: Includes traditional attire like kurta-pajamas, sherwanis, and dhotis, mainly worn during festivals and weddings.
- Sportswear: With the increasing emphasis on fitness, sportswear such as track pants, jerseys, and activewear has seen substantial growth.
- Accessories: Includes belts, ties, wallets, and bags, adding a finishing touch to men’s outfits.
Growth Drivers
The growth of the men’s apparel market in India is being driven by a confluence of factors that are transforming the industry. Firstly, the wedding industry is poised for significant growth. With a staggering domestic market hosting between 9.5 million to 10 million weddings annually, the demand for celebration-related products and services is consistently high. These weddings often span multiple days and events, driving the need for diverse and elaborate attire. Secondly, rising income levels have empowered individuals to allocate more towards discretionary spending, especially on occasions as significant as weddings. Moreover, there’s a noticeable cultural shift towards donning appropriate ethnic apparel for various festive events, further amplifying demand. This cultural inclination has led to an increased association with brands like Manyavar and Vastramay specializing in celebration wear, with consumers seeking quality and style. The market has also witnessed a transition from traditional tailored garments to ready-to-wear options, reflecting changing consumer preferences towards convenience and accessibility.
Additionally, the introduction of new categories such as Indo-western wear has expanded the market’s offerings, catering to evolving fashion sensibilities. Urbanisation and the changing lifestyles of Indian consumers are driving demand for a variety of menswear categories. With more people living in urban areas and leading active, fast-paced lives, there is a growing need for convenient and stylish clothing that suits various occasions, from office wear to social gatherings and fitness activities.
Notably, the expansion of retail infrastructure and the rise of e-commerce platforms have made menswear more accessible to a broader audience. Branded players are penetrating tier-II and tier-III markets, reaching previously underserved demographics. Online shopping has also gained immense popularity, offering consumers the convenience of exploring and purchasing a wide range of products from the comfort of their homes.
Current Trends in the Menswear Market
In the dynamic landscape of the menswear market, several trends are currently shaping consumer preferences and industry dynamics. Firstly, several trends are reshaping consumer preferences and industry dynamics. Athleisure, exemplified by brands like Supreme and Snitch, highlights the fusion of athletic and leisurewear, offering men stylish yet comfortable clothing suitable for various occasions.
A notable trend influencing contemporary menswear is the enduring influence of Western styles on traditional Indian attire. Stemming from British colonial rule, the fusion of Western and Indian fashion elements has become ingrained, with elites adopting trousers and shirts alongside traditional garments like sherwanis and dhotis. Furthermore, a resurgence of all-black attire is making a notable impact on fashion in 2024. Sombre tones and structured designs are enjoying a revival, offering a refreshing departure from the vibrant hues that have dominated recent seasons. Embracing an all-black ensemble allows individuals to display their sense of style while maintaining a timeless elegance. Sustainability has become a significant trend in the menswear segment, with increasing demand for eco-friendly fabrics and ethically produced garments. Consumers are now prioritizing brands that promote environmental responsibility and transparency in their supply chains. This shift reflects a broader commitment to sustainable fashion practices and a growing awareness of the industry’s environmental impact.
Challenges in the Menswear Market
In navigating the menswear market, brands face many challenges that require strategic navigation and adaptation. Chief among these is the high level of competition, where numerous brands vie intensely for consumer attention, making differentiation and brand visibility crucial.
Adding to this complexity is the price sensitivity of Indian consumers, a factor that can significantly impact the profitability of premium brands as they strive to balance quality and affordability.
Moreover, the prevalence of counterfeit products poses a substantial threat to genuine brands, undermining consumer trust and brand integrity. Ensuring a robust supply chain presents another hurdle, particularly for smaller brands, necessitating efficient management and coordination to maintain consistency and reliability. Furthermore, the ever-evolving landscape of consumer preferences and fashion trends adds a layer of complexity, requiring brands to remain agile and responsive to shifting demands to stay relevant in the market.
Future Outlook
Casual fashion-focused product categories like T-shirts, Denim, and Activewear are expected to grow at a CAGR of 20%+ highlighting the trend of casualization in fashion leading to the growth of this market.
Fabindia is a well-known for its ethnic and eco-friendly menswear selection. Appealing to customers interested in sustainable fashion, they integrate modern designs with traditional Indian workmanship. Modern Indian menswear company Mufti combines Western and Indian design elements. Their cutting-edge styles satisfy urban customers seeking fashionable yet cozy apparel.
Menswear with environmental friendliness and sustainability is becoming increasingly popular and cutting-edge technology integration includes smart textiles and wearable technology.
Conclusion
The Indian menswear market, with its significant size and projected growth, stands as a testament to the dynamic interplay of tradition and modernity in contemporary fashion. As we navigate through the various categories from casual and formal wear to ethnic attire and accessories, the evolving preferences and increasing demand for comfort, sustainability, and luxury become evident. The industry’s growth is propelled by cultural shifts, rising income levels, and technological advancements, yet it also faces challenges such as intense competition and price sensitivity. Looking ahead, the trends of casualization and the influence of Western styles, alongside the resurgence of timeless designs like all-black attire, point towards a future, were versatility and understated elegance reign supreme. By understanding these trends and challenges, brands can better position themselves to meet the demands of the modern Indian consumer, ensuring that menswear continues to be a vital and influential segment of the fashion landscape.
SOURCES
- Statista • LinkedIn
- Vogue business • Nihal fashion blog
- Louis Philippe • Technopak
- 1 lattice internal sources
