MENSWEAR MARKET IN INDIA: Challenges & Opportunities for New-Age Brands in an Overcrowded Segment

There has been a significant change in the external environment in the last 15 years, which has directly led to changes in not only what a male consumer wears but also what he chooses to wear and how...

- Ishit Jethwa

The Indian menswear market has rapidly evolved over the past few decades. According to Statista, in 2024, the revenue in the Men's Apparel market in India has already reached US$ 31.10 Billion, and the market is projected to grow at an annual rate of 3.93% (CAGR 2024-2028). The increase in disposable incomes, urbanisation, and the shift in consumer preferences and buying patterns are the key factors driving this growth.

Here is a detailed market overview of the last few years and a brief look into what is expected.

What Was & Is

A couple of decades ago, the Indian male consumer was content with his wardrobe, which included limited essential attire in formal and casualwear, as fashion per se was not considered a serious enough necessity for men. Fast forward five, ten, fifteen years later, and we have witnessed a significant change in the external environment, which has directly led to changes in not only what a male consumer wears but also what he chooses to wear and how.

Today's consumer is traveling more, witnessing diverse cultures, is exposed to social media and also has a choice to buy a T-shirt for anywhere between Rs 300 to Rs 30,000. All these factors have helped create an aspirational fashion environment and made him more image-conscious than he was before, leading him to work upon a far better wardrobe for himself.

Menswear Categories

The market share in menswear in India is currently dominated by casualwear, followed by formalwear and then ethnicwear. The male consumer is most comfortable wearing a semi-formal shirt teamed with jeans to work, even a T-shirt with jeans if allowed.. The likes of Mark Zuckerberg, Tim Cook and Sundar Pichai internationally and closer home, Zomato Founder Deepinder Goyal and CRED Foudner, Kunal Shah are instrumental in redefining the professional/ formal dress code.