Market Research Future (MRFR) expects the thermal underwear market 2020 to post a growth rate of 6.2% between 2019 and 2024. The market can also project to touch a valuation of USD 3.1 billion by 2024-end. We will provide COVID-19 impact analysis with the report, along with all the extensive key developments in the market post the coronavirus disease outbreak.
Top Drivers and Main Restraints
The thermal underwear market is faring well owing to the escalating awareness with regard to products like bottoms, set and tops. Thermal underwear or long johns or long underwear are preferred over ordinary apparels to induce warmth, and generally lightweight and more comfortable. During winters, the snug-fitting property helps in trapping heat from the body, which helps drive its demand among people living in colder areas around the world.
Thermal underwear falls in the category of undergarments that also include leggings, socks, nightwear, sports & leisure wear and more. The frequent product innovations along with technological developments in the apparel sector to create more creative and better quality thermal underwears can also enhance market growth in the following period. Considering the health aspect, thermal underwear is largely preferred by the ageing population and also among people that are less immune to cold and flu. Therefore, thermal underwears have been in great demand given the rising need to curb cold-related mortality and morbidity.
A great deal of leading designers and manufacturers are developing diverse styles that fall under very type of clothing category. Consumers are spoilt for choice, with the introduction of sleeveless and short sleeve thermal underwears in the market. The rising use of natural and synthetic fabrics while producing thermal underwear has also been a recent development in the global market. Cotton and wool fabrics are gaining momentum in the market, emerging as key trends as these materials help trap greater amount of warmth than other materials.
The market segmentation for thermal underwear comprises product type, material type, end user, as well as distribution channel.
The thermal underwear market, with respect to the product type, takes into account bottoms, sets and tops.
The key material types listed in the MRFR market study are synthetic, cotton, blend and wool.
The end-users in the thermal underwear industry include men, unisex and women.
Considering the distribution channel, the Thermal Underwear Market Share can be dissected into store-based as well as non-store-based. The store-based types covered in the market study are supermarkets & hypermarkets, such as stores, and more.
North America, APAC/Asia Pacific, Europe, along with RoW/the rest of the world are the primary markets for thermal underwear across the world.
In 2018, the highest gainer in the global market for thermal underwear was North America, with a share of 37.13%. The North American market is also presumed to procure the fastest growth rate in the years to follow, thanks to the extreme cold weather conditions and the resultant high demand for apparels that ensure warmth. The continuous developments in the products to enhance their moisture-absorbing and antibacterial ability also work in favor of the thermal underwear market in the region, especially in Canada and the United States. The advertisements along with the high number of celebrity endorsements also add to the market strength in North America.
The APAC market is one of the strongest contenders on a global scale, as a result of the constantly evolving trends and the rising number of people becoming style and brand-conscious. The thermal wear industry in general has picked up immense pace in the past few years, given the rapid growth in the cold climate. The regional market is quite innovative when it comes to features and designs which easily catches the eye of the consumers here. The recent introduction of the sweat-resistant technology in the Indian market, unpredictable weather changes and the rising cold days in various areas of the country has been beneficial for the thermal under wear market. The improving disposable income and the favorable buying patterns of the consumers have also helped the thermal underwear market gain significant impetus in the region.
Some of the leading competitors studied in the MRFR research include Lux Industries Limited (India), Aditya Birla Fashion & Retail Limited (India), Rothco (Ireland), Gildan Activewear Inc. (Canada), Komar Brands (US), Thatchreed Ltd (UK), L.L. Bean Inc. (US), Namaldı Underwear (Turkey), Floso (UK), Sub Zero Technology Ltd (UK), and more.
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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