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The thermal underwear market has experienced robust expansion in recent years, poised to reach an estimated valuation of USD 9,827.0 million by 2028, growing steadily at a Compound Annual Growth Rate (CAGR) of 3.61% from 2021 to 2028. This upward trajectory in market value can be attributed to several key factors driving its growth on a global scale.
One of the primary catalysts fueling the expansion of the global thermal underwear market is the prevalence of extreme climatic conditions. As temperatures fluctuate and harsh weather conditions become more commonplace, there has been an increased demand for thermal underwear as a practical solution to combat the cold. Consumers are increasingly recognizing the functionality and comfort offered by thermal undergarments, thereby contributing significantly to market growth.
Additionally, the retail sector has played a pivotal role in propelling the market forward. With the retail industry witnessing robust performance and a steady rise in consumer spending on clothing and apparel, thermal underwear has garnered attention as an essential clothing item. Its popularity as a versatile and protective garment suitable for various outdoor activities and everyday wear has significantly boosted its demand in the retail sector.
Innovative marketing strategies and the pervasive influence of social media have emerged as crucial factors fostering the market's expansion. Brands and manufacturers in the thermal underwear sector are leveraging digital platforms and social media channels to engage with consumers, promote their products, and create awareness. This increased visibility and outreach through innovative marketing techniques have effectively captured consumer interest, thereby driving market growth.
Moreover, the prospects for market players in the thermal underwear industry are further brightened by the potential opportunities stemming from product innovations. Continuous efforts towards product development, technological advancements, and the introduction of novel materials or designs are anticipated to create lucrative openings for industry participants. These innovations aim to enhance product efficiency, comfort, and durability, thereby attracting a broader consumer base and driving market growth.
However, despite the optimistic trajectory, certain challenges loom over the global thermal underwear market. The existence of an unorganized sector within the industry and low levels of product awareness in developing nations pose significant hurdles to sustained growth. The presence of unorganized players offering products at lower costs, often compromising on quality, can impede the market's overall growth. Moreover, the lack of awareness regarding the benefits and utility of thermal underwear in several developing economies inhibits market expansion opportunities.
In conclusion, while the global thermal underwear market continues to exhibit promising growth prospects driven by factors such as extreme climatic conditions, retail sector performance, innovative marketing strategies, and product innovations, challenges persist. Overcoming obstacles related to the unorganized sector and enhancing product awareness in untapped regions will be imperative for sustained and substantial growth in the years ahead.
US Thermal Underwear Market Highlights:
Market Scenario:
U.S. Thermal Underwear Market size was valued at USD 0.72 Billion in 2023. The U.S. thermal underwear market industry is projected to grow from USD 0.76 Billion in 2024 to USD 1.31 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.01% during the forecast period (2024 - 2032).
hermal underwear is also called long underwear or long johns according to recent vocabulary which is better than ordinary underwear to keep warm, normal to thin, and lightweight underwear. Thermal wear come under the others category of the innerwear/undergarments which also include socks, leggings, sports & leisure wear, and nightwear. Other categories include men’s inners, women’s inners and kid’s inners. It is made from cotton or cotton-polyester-blend fabric with a box weave texture, flannel but primarily the union suit. However many new varieties are made from polyester including capilene fabric. Also, wool-blends or 100% wool such as merino or other high quality wool is used to make thermal underwear. Robust economic growth, emergence of a large and prosperous middle class, increasing consumers’ cautiousness to spend along with high rates of migration from rural to urban areas has led to the influx of international retailers cross boundaries and has encouraged the construction of large volume of new retail real estate.
Strong cross boundary trades of thermal innerwear has also attracted large consumers towards the product line due to easy availability of the desired product. With the strong performance of retail sector, the sale of thermal innerwear has been experiencing a surge. The product is strongly distributed via various distribution channel and is easily available majorly in departmental stores, specialty stores and convenience stores. Consumers have high preference towards purchase of thermal innerwear from departmental and specialty stores majorly due consumers’ convenience based on ‘on-stop’ shopping experience. In addition, due to technology advancements consumers have moved towards digital lifestyle which has led to increased sale of the product through e-commerce.
Regional Analysis:
The U.S. thermal underwear market is segmented into west, Midwest, South, New England, Middle Atlantic, and Southwest. Among these Midwest region is anticipated to retain its dominance throughout the forecast period of 2022-2030. The region is projected to reach USD 361.6 million by the end of 2022 and also the region is projected to expand at a growth rate of 8.38% during the forecast period. However, west region is also projected to grow at a CAGR of 7.50% during the review period of 2022-2030. This is attributed by the cold temperature in the western region coupled with the increasing disposable income of the consumers.
Segments:
The U.S. thermal underwear market has been segmented on the basis of gender such as men, women and kids. Among that, men segment is estimated to account for maximum market proportion during the forecast period of 2022-2030. The segment is estimated to reach USD 467.3 million at a CAGR of 6.12% by the end of 2030. 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. The U.S. thermal underwear market has been segmented on the basis of product category such as tops, bottom and sets. The U.S. thermal underwear market has been segmented on the basis of distribution channel which comprises of mass, departmental stores, specialty and others.
Key Players:
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.).
Regional and Country Analysis of Thermal Underwear Market Development and Demand Forecast to 2030 Market:
As per the MRFR analysis, the U.S. thermal underwear market is poised to reach USD 1130.3 Million in 2030, to grow at a CAGR of 6.4% during the forecasted period.
Key Findings:
- Midwest is anticipated to retain its dominance throughout the forecast period of 2022-2030 and registering 8.38% of CAGR. Also, west region is accounting for approximately one fourth of the market proportion of U.S. thermal underwear market and the region is estimated to reach USD 269.6 million by the end of 2030.
- Key players are investing hugely on R & D and have started the bulk manufacture of light weight thermal wear providing effective insulation and comfort to the body.
Target Audience:
- Thermal Underwear manufacturers
- Raw material suppliers
- End users
- Retailers and wholesalers
- E-commerce companies
- Traders, importers and exporters
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