Market Overview
The global men’s suits market is projected to grow steadily through 2032. Men’s suits comprise jackets and trousers made of the same material. They are categorized into ready-to-wear and tailored options, spanning formal and casual styles.
The versatility of suits has made them a cross-generational staple. Recent trends show widening accessibility and appeal beyond the corporate sphere. Proliferation of off-the-rack and online tailoring has reached more income segments.
During the pandemic, men’s coats, jackets and suits saw significant demand impact. Looking at key drivers holistically will clarify current needs and guide strategic pivots. Growing desire for premium, designer items drives global expansion. Fierce competition obliges players to keep pace with shifting tastes and rising buyer power.
Asia-Pacific should see robust 6.2% CAGR for suits through 2028 on widening digital retail. Customization and made-to-measure now outpace readymade. With lifestyle changes, buyers increasingly want personalized fit and styling.
Key Players and Strategies
Key players include Aqua Lung, Johnson Outdoors, Mares, Beuchat and Dive Rite. Merger and acquisition opportunities abound for identifying ideal manufacturers.
Methodology combines economic reports, databases, company sites and more. SWOT analysis, PESTEL, Porter’s Five Forces and Ansoff matrix enable multilayered data examination.
Profit Margin Analysis
What is the profit margin for a tailor?