U.S.: Menswear Market 2024

Menswear Market Size in the U.S.

The U.S. menswear market surged to $X in 2022, jumping by X% against the previous year. The market value increased at an average annual rate of X% from 2013 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Menswear consumption peaked in 2022 and is expected to retain growth in the near future.

Menswear Production in the U.S.

In value terms, menswear production contracted to $X in 2022. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Menswear Exports

Exports from the U.S.

In 2022, approx. X units of men's and boys' cut and sew apparel were exported from the United States; with an increase of X% compared with 2021. The total export volume increased at an average annual rate of X% from 2013 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The exports peaked at X units in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, menswear exports soared to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2013 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico (X units) was the main destination for menswear exports from the United States, accounting for a X% share of total exports. Moreover, menswear exports to Mexico exceeded the volume sent to the second major destination, Canada (X units), twofold. The third position in this ranking was taken by Japan (X units), with a X% share.

From 2013 to 2022, the average annual rate of growth in terms of volume to Mexico totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Japan (X% per year).

In value terms, Canada ($X), Mexico ($X) and Japan ($X) appeared to be the largest markets for menswear exported from the United States worldwide, together accounting for X% of total exports. The UK, South Korea, China, Australia and Honduras lagged somewhat behind, together accounting for a further X%.

China, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average menswear export price amounted to $X per unit, with an increase of X% against the previous year. Over the period from 2013 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2018 when the average export price increased by X%. As a result, the export price attained the peak level of $X per unit; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per unit), while the average price for exports to Mexico ($X per unit) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (X%), while the prices for the other major destinations experienced more modest paces of growth.

Menswear Imports

Imports into the U.S.

In 2022, the amount of men's and boys' cut and sew apparel imported into the United States expanded significantly to X units, surging by X% compared with 2021. The total import volume increased at an average annual rate of X% over the period from 2013 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, menswear imports soared to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2013 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by X%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

Bangladesh (X units), Vietnam (X units) and China (X units) were the main suppliers of menswear imports to the United States, with a combined X% share of total imports.

From 2013 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X), Bangladesh ($X) and China ($X) constituted the largest menswear suppliers to the United States, with a combined X% share of total imports.

Among the main suppliers, Vietnam, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average menswear import price stood at $X per unit in 2022, with an increase of X% against the previous year. Over the last nine years, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Mexico ($X per unit), while the price for the Dominican Republic ($X per unit) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Cambodia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :