U.S. Thermal Underwear Market Overview
Also called long underwear or long johns, the thermal underwear is lightweight underwear that is better than ordinary underwear to keep the wearer warm. It is available in various sizes from normal to thin, and lightweight underwear. A new report on the US thermal underwear market, published by Market Research Future (MRFR), estimates that this market to expect rise at 6.4% Compound Annual Growth Rate (CAGR) between 2022 and 2030. In terms of value, the U.S. thermal underwear market size can be worth USD 1130.3 Mn by the end of the forecast period.
The greatest market driver for the US thermal underwear market growth is the emergence of a large and prosperous middle class. Other market driving factors include robust economic growth, increasing consumers’ cautiousness to spend, high rates of migration from rural to urban areas, the subsequent influx of international retailers, increasing purchasing power, strong performance of the retail sector, and the rise of new retail real estate. Strong cross-boundary trades of thermal underwear is resulting in increasing sales among consumers as the availability of thermal underwear is increasing. Due to technological advancements, consumers are adapting to the digital lifestyle and doing online shopping. Due to increasing online shopping, the sale of thermal underwear has increased via e-commerce.
Market Segmentation
The US thermal underwear market segmentation encompasses distribution channel, gender, product category, and retail price point. MRFR ‘s take on the market explores various facets of the market in-depth.
Based on the distribution channel, this market has been segmented into the mass market, departmental stores, specialty, and others. Mass market refers to distribution where the retailer is putting all products for sale without differentiating them and offering something for every customer. The consumer preference towards the purchase of thermal innerwear from departmental stores and specialty stores is very high.
The gender-based segmentation of the United States (US) thermal underwear market covers men, women, and kids. Men segment holds the largest market share, and by the end of the forecast period, this segment is going to be worth USD 467.3 mn, growing at 6.12% CAGR.
Regarding product category, the market has been segmented into tops, bottoms, and sets. In the context of retail price point, the market has been segmented into Above USD 10, USD 10 – USD 50, and USD 50 – USD 100. During the forecast period, the USD 10 – USD 50 has the maximum chance to dominate the market, growing at 6.86% CAGR. Its total market worth can reach USD 766.3 mn by 2022.
Regional Segmentation
A geographical outlining of the US thermal underwear market covers the Middle Atlantic region, Midwest region, New England region, South region, Southwest Region, and West region.
During the forecast period, the Midwest region is expected to dominate the market, surging at 8.38% CAGR. Its market worth can be USD 361.6 mn. However, the forecast period also anticipates the growth of West region at 7.50% CAGR due to the cold temperature in this region and the increasing disposable income of the consumers.
Key Players
Prominent players in the US thermal underwear market include Alfani (USA), Calvin Klein Inc. (USA), Emporio Armani (USA), Hanes Brands, Inc. (USA), Jockey International Inc. (USA), L.L. Bean (USA), Smartwool LLC (USA), and Under Armour Inc. (USA).
Latest Industry News
· Penguin Ventures has signed many deals with licensees for Peter Rabbit 2 merchandise lines. Different brands have earned licenses to produce and sell merchandise based on the movie. This merchandise would include toys, books, chocolates, confectionaries, tissues, personal care products, and thermal underwear. 8 AUG 2019
· Many El Salvador clothing manufacturers like Dickies, Fruit of the Loom, HanesBrands, Intradeco, and Izod are expanding their operations to manufacture, sell, and export different varieties of innerwear that includes basic cotton underwear, thermal underwear, and sophisticated lingerie. They are also working to strengthen their supply chain in USA. 15 APR 2019
· Kim Kardashian's clothing brand Kimono Shapewear is expanding its operations to sell bodysuits, bikini briefs, bras, thongs, thermal leggings, waist trainers, and more. 8 JUL 2019
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