NEW YORK, May 30, 2018 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Market Research, the denim market size is projected to cross $87.6 billion by 2023, growing at a CAGR of 6.3% during 2018-2023. The high growth is expected due to the penetration of western fashion and western life style in the form of casualization of clothing, across the globe. The factor has boosted the consumption of casual fashion apparels like denims, dresses, shirts, tees and casual shirts in working as well as non-working segments of the society, over the years. Currently, the changing perception of executive wear in corporate and growing popularity of western wear among youth are some of the factors driving the sales globally.
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The use of polyester in denim products is currently making waves. Despite there being a mixed opinion of fashion industry experts about blending polyester in denim when it comes down to the nitty-gritty of manufacturing a garment, manufacturers are finding polyester as one of the best fibres to use. In the emerging era of sports and its related wear, polyester not only provides durability and abrasion-resistant features, but also, as compared to the traditional 100% cotton blends, it is more stretchable. Since polyester is first heat treated, cooled and then stretched, it can withstand more impact of a stretch than any other denim blend. The trend is expected to escalate in the global denim market in coming years, as vendors are increasingly blending polyester in denim to increase the lifetime of the apparel. For example, Bullet Blues Custom Apparel, LLC, a designer jeans and apparel provider, offers Bullet Blues ‘Cowboy’ designer jeans for men which has a unique blend of 75% cotton, 24% polyester and 1% spandex.
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The denim business is globally facing a considerable pressure from consumers these days. The global recession of past few years has left a long-lasting impact on the overall consumer spending in many developed and developing regions. Further, credit fueled spending has given way to tight budget constraints, as many consumers continue to pay off their debts from the years of recession. This has led to an increase in the popularity of low cost knitted clothing among the middle and upper middle-class sections, thereby leading to a roadblock in the growth of the denim market.
Some of the major companies active in the denim market are Levi Strauss & Co., Gap Inc., VF Corporation, H&M, PVH Corporation, and Kering.
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