Men are paying more attention to how they look and dress. The global menswear market has been growing at a faster rate than womenswear in recent years, and sales of men’s personal care products are increasing. Men appear to be the new trendsetters and fashionistas in an emerging new era being referred to as “the menaissance.”

Although menswear remains a smaller portion of the overall fashion apparel market than womenswear, it is growing at a compound annual growth rate of 4.8% and annual menswear sales are expected to reach $522.3 billion by 2020.[1]

Similarly, the global men’s grooming market is expanding and expected to reach nearly $24 billion by 2020.[2] What’s being sold is a lot more than shaving cream: Men are purchasing and using skin care products such as moisturizers, cleansers, bronzers, concealers, facial masks, eye serums and anti-aging treatments.

Traditionally, men’s apparel has been viewed as utilitarian and linked to its purpose: a suit for work, athletic wear for sports, jeans and t-shirts for the weekend. However, today popular culture is making men more aware of how they look. Product endorsements by athletes, movie stars, rappers, hip-hop artists and other celebrities are shifting men’s perceptions of themselves and how they should appear in public.

The growth in the menswear market has been fueled by the appeal of luxury menswear and increases in online sales. Women’s fashion designers have entered the menswear market and are promoting their lines using social media. Men’s fashion influencers have emerged on social media feeds, providing immediate guidance and photo examples of trends to their many followers.[3]

Menswear spending growth is driven by millennial males between the ages of 25 and 49.[4] With more college-educated men in the workforce and technology driving career choices, office jobs proliferate and a more formal approach to workplace fashion is emerging. Not surprisingly, one of the menswear categories seeing the highest growth rate is men’s suits,[5] as millennials know looking good on the job matters.

[1] “Global Menswear Market Growth Shows No Signs of Slowing,” BizVibe Textiles and Garments blog, Feb. 8, 2017. Available at:

[2] “Size of the global male grooming market from 2012 to 2024 (in billion U.S. dollars),” Statista, 2018. Available at:

[3] “Social media is driving growth in luxury menswear market,” by Bethany Biron, Digiday blog, July 7, 2017. Available at:

[4] “Welcome to the Age of the Menaissance,” by Trent Rigby, Retail Oasis blog, April 5, 2017. Available at:

[5] “Welcome to the Age of the Menaissance,” by Trent Rigby, Retail Oasis blog, April 5, 2017. Available at:

This news is provided as a service to you by Marlin Business Services Corp., a nationwide leader in commercial lending solutions for the U.S. small business sector. Marlin’s equipment financing and loan programs are available directly and through third-party vendor programs, including manufacturers, distributors, independent dealers and brokers, to deliver financing and working capital that help build your success.