New York, US, March 15, 2023 (GLOBE NEWSWIRE) -- U.S. Thermal Underwear Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), U.S. Thermal Underwear Market Information- by Gender, by Product Category, by Distribution Channel, by Retail Price Point - Forecast to 2030, the market is projected to register a CAGR of 6.4% and reach a value of USD 1130.3 million by 2030.
According to modern terminology, thermal underwear—which is better than regular underwear to keep you warm, normal to thin, and lightweight underwear—is also known as long underwear or long johns. In the area of other innerwear/undergarments, which also includes socks, leggings, sports & leisure wear, and nightwear, thermal wear is included.
Men's inners, women's inners, and children's inners are further types. Flannel, cotton or cotton-polyester blends with a box weave texture, as well as union suits, are used to make it. However, many modern variations, such as capilene cloth, are constructed of polyester. Thermal underwear is also made from wool mixes or 100% wool, such as merino or other premium wool.
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|Market Size in 2030||USD 1130.3 million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by Gender, by Product Category, by Distribution Channel, by Retail Price Point|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Market Drivers||Emergence of a large and prosperous middle class|
|Increasing consumers’ cautiousness to spend|
The leading market players in the U.S. thermal underwear market primarily are
- Calvin Klein, Inc. (U.S.),
- Alfani (U.S.),
- Emporio Armani (U.S.),
- Hanes Brands, Inc. (U.S.),
- Jockey International, Inc. (U.S.),
- L.L.Bean (U.S.),
- Smartwool LLC (U.S.),
- Under Armour, Inc. (U.S.).
Strong economic growth, the rise of a sizable and prosperous middle class, a decline in consumer spending, and high rates of rural-to-urban migration have all promoted the cross-border expansion of multinational merchants and the development of a sizable amount of new retail real estate.
Due to the easy availability of the desired goods, thermal innerwear has experienced strong cross-border trades that have drawn significant consumer interest. The sale of thermal innerwear has increased as a result of the robust retail sector performance. The product is widely available in department stores, specialty stores, and convenience stores, and is widely distributed through multiple distribution channels.
Due to the convenience of a "on-stop" shopping experience, people choose to buy thermal innerwear from departmental and specialty stores. Also, as a result of technological improvements, consumers have shifted to a digital lifestyle, which has increased e-commerce sales of the goods.
Thermal underwear is highly sought after in cold nations since it is essential for people to wear warm, comfortable clothing in cold climates in order to preserve body heat. In addition to these features, thermal underwear has others including moisture absorption, permeability, heat retention, softness, and antistatic properties. Due to its strength, resistance to creases, and pilling, this product is also durable. For everyone, from children to adults, it is also available in a variety of fabric types and is offered as top wear, bottom wear, and sets. This product's appeal and consumer demand were fueled by its many positive attributes. The market has grown due to customers' rising spending power and changing living standards.
Customers are drawn to body care goods as their concern for their health has increased. Together with a variety of body care products, thermal underwear has also just been introduced, drawing interest from customers. Businesses are constantly developing new thermal underwear products, such as the antibacterial and moisture-absorbing thermal underwear that have become quite popular in the market.
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There is a notable difference in consumer behavior as consumers around the world become used to the new normal. In light of COVID-19, consumer behavior, attitudes, and buying patterns have altered. Consumers are shopping with great awareness, with a focus mostly on fundamental requirements and buying locally. Customers use digital commerce to play, learn, and connect in order to combat loneliness and adhere to social distancing policies.
On the other side, the expansion of the global market throughout the projection period can be constrained by counterfeit goods. The creation of thermal underwear is proving difficult for several businesses. The Covid-19 epidemic has caused factories to close, the supply chain to be entirely disrupted, and businesses to struggle with the availability of raw materials as well as a lack of personnel and resources in the midst of the pandemic, which has delayed the global market.
Over the projected period of 2022–2030, the men segment is anticipated to account for the largest market share among those. By the end of 2030, the segment is anticipated to reach USD 467.3 million with a CAGR of 6.12%.
Among retail price point
$10 ~ $50 will dominate the market and is projected to reach USD 766.3 million at a CAGR of 6.86% by 2030 in terms of value in U.S.
By Product Category
The Sets segment is expected to drive the market over the review period.
By Distribution channel
The departmental stores segment is expected to expand at a notable CAGR over the review period.
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In 2020, North America held the greatest market share for thermal underwear worldwide. Throughout the forecast period, North America is anticipated to grow at the highest CAGR. According to estimates, one of the key drivers behind the market's expansion for thermal underwear is the rising number of working women in the US.
The Midwest, West, South, and New England, as well as Southwest and Middle Atlantic, are all included in the analysis of the U.S. thermal underwear market. Throughout the review period and the analytical period from 2017 to 2022, the Midwest area can dominate the market. By 2022, the regional market is anticipated to be worth USD 361.6 million, growing at an 8.38% CAGR. Over the evaluation period, the west area can grow at a CAGR of 7.50 percent. The presence of cold weather and the rise in high-end consumers' disposable income are two factors that have contributed to the market's expansion in the west region.
The Midwest market is anticipated to maintain its high value and dominance over the projection period. By 2022, this market's CAGR is projected to be 8.38%. Also, it is predicted that the west region would account for nearly one-fourth of the market for thermal underwear in the United States by the end of 2022, with a projected revenue of USD 269.6 million.
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