Market Value and Growth - Men's Tailored Clothing
Growth in the menswear segment is growing globally, with particular strength in the luxury end of the market. As of 2017, the global menswear market was worth approximately $419bn, with designer menswear worth around $30.6bn, and tailored menswear worth around $4.2bn.
After an extensive search I was unable to find any sources that explicitly provided the information that you were looking for. However, I was able to triangulate your request information and also provide some important trends for the segment.
The global menswear industry overall is worth just over $400bn per year, as indicated by FashionUnited ($402bn) and Euromonitor ($419.3bn), with Euromonitor predicting growth of 4.7%.
Of this, multiple sources found the luxury menswear market to be around $30bn in 2017, growing at a rate of around 2.3% per year up to $33bn by 2020.
Furthermore, chief industry analyst for market research group The NPD Group, estimates that the tailored suit industry accounts for around 1% of the total menswear industry (or $4.2bn). I was unable to find growth figures for tailored menswear; however, based on the trends for luxury menswear I would expect tailored menswear to grow at least by 2.3% per year.
While still significantly smaller than the global womenswear market ($621bn), menswear continues to hold a large share of the global fashion industry. Within this market, luxury menswear accounts for roughly 7%, with tailored menswear accounting for 1% of the total.
This said, the shift towards online shopping promises to radically increase both the share of luxury menswear and tailored menswear. Between 2013 and 2016, the ten largest luxury menswear retailers grew their online sales by 100%, while the ten largest premium menswear retailers (where tailored menswear is more likely to fit) grew their online sales by 278%. This is compared to a sales decrease of 5% for mass market menswear retailers.
In mid-2017, Amazon also patented a process for making custom-made clothing on demand, although as yet, this service has not launched. Once online, however, this could radically change both the market and public opinion for tailored clothing.
Social media is reported as driving much of this interest in designer menswear. And as men's awareness of fashion increases, it is reasonable to expect ongoing growth in the luxury menswear segment that includes tailored clothing.
Globally, the current market value of menswear is approximately $419bn. Out of this total amount, the designer menswear’s market value is $30.6bn, while for tailored menswear, the value is $4.2bn. Regarding growth rate, the designer menswear clothing industry is seen to grow at round 2.3% per year, and this can be considered as applicable to tailored clothing as well.