New York, US, Jan. 23, 2023 (GLOBE NEWSWIRE) -- Denim Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), Denim Market Information By Type, End-User, Distribution Channel, And Region - Forecast till 2030"; the market will reach USD 108.32 Billion by 2030 at a 6.67% CAGR.
Market Synopsis:
Denim is a fabric created from cotton that is coarse and heavy in texture. Denim was initially developed for work garments before steadily gaining popularity as a fabric used in various forms of clothing. Denim is a necessary and stylish staple in any wardrobe right now. Denim clothing production is a lucrative industry. The demand for denim jeans is predicted to increase due to the evolution of consumer tastes and preferences for attractive fashion and beauty, along with ongoing product innovations by companies with designs, preferences, styles, and colors.
The surge in fashion consciousness among millennials and baby boomers has incentivized producers to keep offering new and improved denim jeans. Due to their comfort, ease of wear, and durability, denim jeans are a favorite among the younger generation. In some industrialized countries, there is a rising desire for "perfect fit" denim jeans, pushing denim jeans to support new goods. Participants in the denim jeans market blend cotton with synthetic fibers to provide customers with stretchy pants. In emerging and developed economies, women's preferences for different types of denim have significantly increased, contributing to the rise in product demand.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 108.32 Billion |
| CAGR | 6.67% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, End-User, Distribution Channel, And Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Significant growth in the fashion industry |
| Improving standards of living |
Market Competitive Landscape:
The prolific companies in the denim market are:
- The Gap, Inc,
- Aarvee Denims & Exports Limited,
- Everlane,
- KG Denim Ltd.,
- Pepe Jeans,
- Tommy Hilfiger licensing,
- Adidas,
- Detroit Denim Co,
- Diesel SpA,
- LLC,
- LNJ DENIM,
- VF Corporation,
- H&M,
- Levi Strauss & Co.,
- U.S. Polo Assn.,
- PVH Corp.,
- ABSOLUTE,
- Partap Group,
Market U.S.P. Covered:
Market Drivers:
Urbanization is growing, and denim shirts are becoming more popular, two major reasons that are anticipated to drive the denim market's expansion during the forecast period. It is also projected that the increased demand for flexible denim jeans made by fusing cotton with synthetic material will accelerate the expansion of the denim market. Additionally, it is predicted that the government's increased initiative to improve product manufacturing will temper the expansion of the denim market. Customers favor denim jeans because of their ability to absorb moisture and provide aesthetic appeal, comfort, and color resistance. Demand will increase even further due to ongoing product development on the market and rising consumer expectations for basic comforts.
The denim market is also growing as consumers become more aware of various products, such as boot cut, cropped, skinny, high rise, tapered, and normal fit jeans. Additionally, the growing propensity of the world's population for online clothing purchasing will probably fuel online sales of denim clothing, which in turn will fuel market expansion. People may be drawn to buy expensive denim apparel if various fashion shows are often launched on social media and television media channels. The rise will also aid the expansion of that apparel business in demand for clothing brands. To create the well-known washed-down or worn effect of denim jeans, various pumice stones have typically been soaked in potassium permanganate or sodium hypochlorite. The color is eliminated when these stones are tumbled against the texture.
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Market Restraints:
On the other hand, the expansion of the market for jeans is predicted to be hampered by the rise in the popularity of inexpensive wool clothing. The variance in raw material costs and shifting customer tastes could provide additional obstacles to the denim market's expansion in the near future.
COVID 19 Analysis
Due to retail store closures, disrupted export and import operations, dynamic changes in spending patterns, a lack of raw material availability, and limitations on transportation, the demand for denim pants fell as a result of the extraordinary COVID-19 pandemic. However, it is projected that the business of the well-known corporations will suffer due to the intense rivalry in the denim sector and the vast number of local organized and unorganized competitors. The sales figures of denim products from physical retailers have also been considerably impacted by the unpredictable lockout limitations brought on by the COVID-19 outbreak. Connected trade irregularities inside the fashion sector also caused the denim market's slower growth in 2020.
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Market Segmentation
By consumer group, the market includes males and females. By distribution channel, the market includes store-based and non-store based. By type, the market includes loose fit and slim fit.
Regional Insights
Due to the expansion of the women's wear business, North America controls the global denim market. The evolution of the denim market in this region will also be aided throughout the forecast period by the increase in retail apparel sales income. Due to the presence of substantial key players, the denim market in Asia-Pacific is predicted to rise significantly. Additionally, rising product demand brought on by a change in consumer lifestyles is predicted to fuel the expansion of the denim market in the area over the next few years.
Additionally, the substantial amount of denim products imported from Mexico into the United States has significantly aided the expansion of the market in the area. The faster consumer demand shifting toward branded clothing products in nations like India and Bangladesh is responsible for the Asia-Pacific region's quickest growth. Additionally, the expansion of the industry in the region has been greatly aided by the presence of sizable denim product production facilities in nations like Bangladesh and China.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
