The market size value for men's and boys' cotton underpants in China in 2023 stood at 3.2443 billion USD. From 2021 to 2023, the market experienced a year-on-year increase of 2.47% and 2.37%, showing a steady but modest growth. The last 5-year CAGR stands at 3.32%, indicating a relatively stable market with minor fluctuations over the past years.
Between 2013 and 2020, there were periods of both growth and decline, with the market peaking in 2015 and experiencing declines in subsequent years. Noteworthy, there was a resurgence starting from 2019, with a slight dip in 2020, followed by consistent growth up to 2023.
Looking ahead, forecasted data suggests a gradual but steady increase with a projected 5-year CAGR of 1.79%, culminating in an estimated market size of 3.6361 billion USD by 2028. Over the next five years, a cumulative growth rate of 9.3% is anticipated.
Future trends to watch for include potential market shifts due to changing consumer preferences towards sustainable and eco-friendly products, advancements in fabric technologies, and the impact of e-commerce growth on retail distribution channels.
