Thermal Underwear Market: Global Industry Analysis and Forecast (2024-2030)

  • Thermal Underwear Market size was valued at USD 4.74 Bn. in 2023 and the Thermal underwear revenue is expected to grow at a CAGR of 3% from 2024 to 2030, reaching nearly USD 6.03 Bn. by 2030.

  • Format : PDF | Report ID : SMR_1904

Thermal Underwear Market Overview:

Thermal underwear is lightweight, durable and comfortable to wear for everyday use. Thermal underwear are thin, stretchy pants that look a lot like a pair of leggings and are usually worn underneath clothing such as hiking pants or ski pants through outdoor activities to provide an additional layer of insulation. In the hiking layer system, thermal underwear forms part of the base layer, along with a long-sleeved top made of the same material, and the two terms are often used interchangeably to describe both the top and bottoms, a bit confusingly.

 

The report provides a comprehensive analysis of the global Thermal Underwear Market. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Thermal Underwear. For an additional in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.

Thermal Underwear Market

 

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Thermal Underwear Market Dynamics:

Emerging Trends in the Thermal Underwear Market

Growing awareness among consumers about the benefits of layering for thermal insulation and moisture management. Thermal underwear acts as a base layer that traps body heat and wicks away moisture, creating a comfortable microclimate close to the skin. Thermal Underwear companies are increasingly focusing on sustainability initiatives, such as reducing carbon footprint, recycling initiatives, and using eco-friendly materials, in response to growing consumer demand for environmentally responsible products. Additionally, technological advancements in fabric materials, such as the development of high-performance synthetic fibres and blends, enhance the thermal properties of thermal underwear. These advancements improved insulation, breathability, and moisture-wicking capabilities.

Thermal Underwear Market

Navigating Challenges in the Thermal Underwear Market

The use of synthetic fibres in thermal underwear raises environmental concerns, as their materials are not biodegradable. Increasing Consumer awareness of sustainability and eco-friendly alternatives influences purchasing decisions.

 

The shortage of skilled professionals in areas such as specific skill sets pose a challenge for Thermal Underwear companies in terms of innovation and product development. Additionally, Disruptions in the supply chain, whether due to natural disasters, or geopolitical tensions impact the availability of raw materials and components for Thermal Underwear production.

 

Thermal Underwear Market Segment Analysis:

By End User, the Men’s segment held the largest share in 2023 for the Thermal underwear market.  Men's increasing awareness of health and fitness, as well as personal hygiene, is influencing them to spend money on high-quality undergarments. Men's thermal underwear serves as a foundational layer of clothing, offering heat retention without adding bulk, allowing wearers to maintain comfortable body temperature levels through outdoor activities or in cold indoor environments. With advancements in textile technology, thermal underwear for men now often incorporates features such as odour resistance, breathability, and stretchability, enhancing overall comfort and performance. Additionally, the rising awareness of the importance of layering in cold-weather apparel and the increasing emphasis on fitness and outdoor pursuits contribute to the market's growth.

Thermal Underwear Market2

Thermal Underwear Market Regional Analysis:

North America dominant region in 2023 for the Thermal Underwear Market. Thanks to Increasing participation in winter sports, and a focus on outdoor activities. The market emphasizes performance-oriented thermal underwear with advanced features and technologies. In the region, a growing trend towards sustainable and eco-friendly thermal underwear options made from recycled sustainable and eco-friendly thermal underwear options made from recycled materials, organic fibres, or produced using sustainable manufacturing processes.

 

In the United States, it is usually made from a cotton or cotton-polyester-blend fabric with a waffle weave texture, although some varieties are also made from flannel, particularly the union suit, while many newer varieties are made from polyester, such as the Capilene tradename.  Innovation in the designs, colours, and materials used in thermal underwear is one of the main factors estimated to positively impact the US market growth. Thanks to the presence of major manufacturers in the US, consumers have access to various products, which helps to drive up market demand.

 

Asia Pacific is fastest-growing region through the forecast period for the Thermal Underwear Market. The rapid urbanization of Asia-Pacific economies and the increase in per capita disposable incomes are critical drivers of the thermal underwear market's growth. Growing demand for thermal underwear, driven by cold climates in northern regions, increasing disposable incomes, and urbanizations. The market offers opportunities for both domestic and international brands, with a focus on affordability, functionality, and fashionable designs.

Thermal Underwear Market3

Thermal Underwear Market Competitive Landscape: 

  • In January 2023, Female-first outdoor clothing brand Acai Outdoor Wear secured a GBP3m (USD 3.66m) investment from Growth Partner that will enable the business to grow internationally and expand beyond the direct-to-consumer channel.

 

  • In November 2022, PH Corp. renewed licences with G-IlI Apparel Group, Ltd. as part of a multi-year shift to bring core product categories in-house.

 

Thermal Underwear Market Scope:

Thermal underwear Market

Market Size in 2023

USD 4.74 Bn.

Market Size in 2030

USD 6.03 Bn.

CAGR (2024-2030)

3 %

Historic Data

2018-2022

Base Year

2023

Forecast Period

2024-2030

   Segments

By Product

Tops

Bottom

Sets

By Material Type         

Cotton

Synthetic

Wool

Blends

By End-User    

Men

Women

Kids

By Distribution Channel

Online

Offline

Regional Scope

North America- United States, Canada, and Mexico

Europe – UK, France, Germany, Italy, Spain, Sweden, Russia, and Rest of Europe

Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC

Middle East and Africa - South Africa, GCC, Egypt, Rest of the Middle East and Africa

South America – Brazil, Argentina, Rest of South America

 

Thermal Underwear Market Key Players:

  1. PVH Corp.
  2. HanesBrands Inc
  3. Marks and Spencer plc
  4. Jockey International Inc
  5. Under Armour Inc.
  6. L.L.Bean Inc.
  7. Fruit of the Loom Inc.
  8. Thermajohn 
  9. Alfani
  10. Champion
  11. Emporio Armani
  12. Calvin Klein
  13. ExOfficio
  14. Patagonia
  15. Ralph Lauren
  16. AEO Management CO.
  17. Penney IP LLC
  18. Under Armour, Inc.
  19. RibbedTee
  20. Fibre2Fashion Pvt. Ltd.
  21. Levi Strauss & Co.
  22. Perry Ellis International Inc.
  23. Naked Brand Group Inc.
  24. XXX Inc. 


Frequently Asked Questions

Technology advancements in fabric materials, such as the development of high-performance synthetic fibres and blends are trends in the Thermal Underwear Market.

1.    Thermal Underwear Market: Research Methodology 
2.    Thermal Underwear Market: Executive Summary
3.    Thermal Underwear Market: Competitive Landscape

3.1. Stellar Competition Matrix
3.2. Competitive Landscape
3.3. Key Players Benchmarking
3.4. Market Structure
3.4.1.    Market Leaders 
3.4.2.    Market Followers
3.4.3.    Emerging Players

3.5. Consolidation of the Market
4.    Thermal Underwear Market Import Export Landscape
4.1. Import Trends
4.2. Export Trends
4.3. Regulatory Compliance
4.4. Major Export Destinations
4.5. Import-Export Disparities
5.    Thermal Underwear Market: Dynamics
5.1. Market Trends by Region
5.1.1.    North America
5.1.2.    Europe
5.1.3.    Asia Pacific
5.1.4.    Middle East and Africa
5.1.5.    South America

5.2. Market Drivers by Region
5.3. Market Restraints
5.4. Market Opportunities
5.5. Market Challenges
5.6. PORTER’s Five Forces Analysis
5.7. PESTLE Analysis
5.8. Strategies for New Entrants to Penetrate the Market
5.9. Regulatory Landscape by Region
5.9.1.    North America
5.9.2.    Europe
5.9.3.    Asia Pacific
5.9.4.    Middle East and Africa
5.9.5.    South America

6.    Thermal Underwear Market Size and Forecast by Segments (by Value in USD Million)
6.1. Thermal Underwear Market Size and Forecast, by Product (2023-2030)
6.1.1.    Tops
6.1.2.    Bottom
6.1.3.    Sets

6.2. Thermal Underwear Market Size and Forecast, by Material Type (2023-2030)
6.2.1.    Cotton
6.2.2.    Synthetic
6.2.3.    Wool
6.2.4.    Blends

6.3. Thermal Underwear Market Size and Forecast, by End-User (2023-2030)
6.3.1.    Men 
6.3.2.    Women
6.3.3.    Kids

6.4. Thermal Underwear Market Size and Forecast, by Distribution Channel (2023-2030)
6.4.1.    Online 
6.4.2.    Offline

6.5. Thermal Underwear Market Size and Forecast, by Region (2023-2030)
6.5.1.    North America
6.5.2.    Europe
6.5.3.    Asia Pacific
6.5.4.    Middle East and Africa
6.5.5.    South America

7.    North America Thermal Underwear Market Size and Forecast (by Value in USD Million)
7.1. North America Thermal Underwear Market Size and Forecast, by Product (2023-2030)
7.1.1.    Tops
7.1.2.    Bottom
7.1.3.    Sets

7.2. North America Thermal Underwear Market Size and Forecast, by Material Type (2023-2030)
7.2.1.    Cotton
7.2.2.    Synthetic
7.2.3.    Wool
7.2.4.    Blends

7.3. North America Thermal Underwear Market Size and Forecast, by End- User (2023-2030)
7.3.1.    Men 
7.3.2.    Women
7.3.3.    Kids

7.4. North America Thermal Underwear Market Size and Forecast, by Distribution Channel (2023-2030)
7.4.1.    Online 
7.4.2.    Offline

7.5. North America Thermal Underwear Market Size and Forecast, by Country (2023-2030)
7.5.1.    United States
7.5.2.    Canada
7.5.3.    Mexico

1.    Europe Thermal Underwear Market Size and Forecast (by Value in USD Million)
1.1. Europe Thermal Underwear Market Size and Forecast, by Product (2023-2030)
1.1.1.    Tops
1.1.2.    Bottom
1.1.3.    Sets

1.2. Europe Thermal Underwear Market Size and Forecast, by Material Type (2023-2030)
1.2.1.    Cotton
1.2.2.    Synthetic
1.2.3.    Wool
1.2.4.    Blends

1.3. Europe Thermal Underwear Market Size and Forecast, by End-User (2023-2030)
1.3.1.    Men 
1.3.2.    Women
1.3.3.    Kids

1.4. Europe Thermal Underwear Market Size and Forecast, by Distribution Channel (2023-2030)
1.4.1.    Online 
1.4.2.    Offline

1.5. Europe Thermal Underwear Market Size and Forecast, by Country (2023-2030)
1.5.1.    UK
1.5.2.    France
1.5.3.    Germany
1.5.4.    Italy
1.5.5.    Spain
1.5.6.    Sweden
1.5.7.    Russia 
1.5.8.    Rest of Europe

2.    Asia Pacific Thermal Underwear Market Size and Forecast (by Value in USD Million)
2.1. Asia Pacific Thermal Underwear Market Size and Forecast, by Product (2023-2030)
2.2. Tops
2.3. Bottom
2.4. Sets
2.5. Asia Pacific Thermal Underwear Market Size and Forecast, by Material Type (2023-2030)
2.5.1.    Cotton
2.5.2.    Synthetic
2.5.3.    Wool
2.5.4.    Blends

2.6. Asia Pacific Thermal Underwear Market Size and Forecast, by End-User (2023-2030)
2.6.1.    Men 
2.6.2.    Women
2.6.3.    Kids

2.7. Asia Pacific Thermal Underwear Market Size and Forecast, by Distribution Channel (2023-2030)
2.7.1.    Online 
2.7.2.    Offline 

2.8. Asia Pacific Thermal Underwear Market Size and Forecast, by Country (2023-2030)
2.8.1.    China
2.8.2.    S Korea
2.8.3.    Japan
2.8.4.    India
2.8.5.    Australia
2.8.6.    Indonesia 
2.8.7.    Malaysia
2.8.8.    Vietnam
2.8.9.    Taiwan
2.8.10.    Bangladesh
2.8.11.    Pakistan
2.8.12.    Rest of Asia Pacific

3.    Middle East and Africa Thermal Underwear Market Size and Forecast (by Value in USD Million)
3.1. Middle East and Africa Thermal Underwear Market Size and Forecast, by Product (2023-2030)
3.1.1.    Tops
3.1.2.    Bottom
3.1.3.    Sets

3.2. Middle East and Africa Thermal Underwear Market Size and Forecast, by Material Type (2023-2030)
3.2.1.    Cotton
3.2.2.    Synthetic
3.2.3.    Wool
3.2.4.    Blends

3.3. Middle East and Africa Thermal Underwear Market Size and Forecast, by End-User (2023-2030)
3.3.1.    Men 
3.3.2.    Women
3.3.3.    Kids

3.4. Middle East and Africa Thermal Underwear Market Size and Forecast, by Distribution Channel (2023-2030)
3.4.1.    Online 
3.4.2.    Offline 

3.5. Middle East and Africa Thermal Underwear Market Size and Forecast, by Country (2023-2030)
3.5.1.    South Africa
3.5.2.    GCC
3.5.3.    Egypt
3.5.4.    Nigeria
3.5.5.    Rest of ME&A

4.    South America Thermal Underwear Market Size and Forecast (by Value in USD Million)
4.1. South America Thermal Underwear Market Size and Forecast, by Product (2023-2030)
4.1.1.    Tops
4.1.2.    Bottom
4.1.3.    Sets

4.2. South America Thermal Underwear Market Size and Forecast, by Material Type (2023-2030)
4.2.1.    Cotton
4.2.2.    Synthetic
4.2.3.    Wool
4.2.4.    Blends

4.3. South America Thermal Underwear Market Size and Forecast, by End-User (2023-2030)
4.3.1.    Men 
4.3.2.    Women
4.3.3.    Kids

4.4. South America Thermal Underwear Market Size and Forecast, by Distribution Channel (2023-2030)
4.4.1.    Online 
4.4.2.    Offline

4.5. South America Thermal Underwear Market Size and Forecast, by Country (2023-2030)
4.5.1.    Brazil
4.5.2.    Argentina
4.5.3.    Rest of South America

5.    Company Profile: Key players
5.1. PVH Corp.
5.1.1.1.    Company Overview
5.1.1.2.    Financial Overview
5.1.1.3.    Business Portfolio
5.1.1.4.    SWOT Analysis
5.1.1.5.    Business Strategy 
5.1.1.6.    Recent Developments

5.2. HanesBrands Inc
5.3. Marks and Spencer plc
5.4. Jockey International Inc
5.5. Under Armour Inc.
5.6. L.L.Bean Inc.
5.7. Fruit of the Loom Inc.
5.8. Thermajohn  
5.9. Alfani
5.10. Champion
5.11. Emporio Armani
5.12. Calvin Klein
5.13. ExOfficio
5.14. Patagonia
5.15. Ralph Lauren 
5.16. AEO Management CO. 
5.17. Penney IP LLC 
5.18. Under Armour, Inc. 
5.19. RibbedTee 
5.20. Fibre2Fashion Pvt. Ltd. 
5.21. Levi Strauss & Co. 
5.22. Perry Ellis International Inc.
5.23. Naked Brand Group Inc.
5.24. XXX Inc.  
6.    Key Findings
7.    Industry Recommendation

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