Denim Market To Record Ascending Growth By 2032
Denim Market Overview
The global Denim Market is registered to grow a market share of 16.26% CAGR by 2032 and is further predicted to grow to approximately USD 111.75 Billion during the forecast period. Denim jeans are considered one of the youth's popular attires due to their durability, comfort, and simplicity of wear.
The demand for the global Denim Market is driven due to improving the standards of living of people and significant growth in the fashion industry. However, the global denim market size is expected to get hampered due to several reasons, such as increasing pervasiveness for inexpensive woolen wear, variance in raw material cost, availability of alternatives in the market, and changing consumer preferences and fashion.
Global Denim Market – Competitive Analysis
Highly competitive, the global natural denim fabric market appears well-established due to the presence of several key players. The market looks fragmented, with a plethora of similar offerings available locally as well as internationally. To gain a substantial share in the market, players incorporate strategic initiatives such as mergers & acquisitions, expansion, and product/technology launch.
Manufacturers use social media platforms to run promotional activities and to create awareness among the consumers about a new product launch. They partner with e-commerce platforms to strengthen their network and increase sales.
Major Players:
Players leading the global denim market include Inditex (Spain), American Eagle Outfitters Inc. (U.S.), Levi Strauss & Co. (U.S.), Uniqlo Co. Ltd (Japan), Hennes & Mauritz AB (Sweden), PVH Corp. (U.S.), Gildan Activewear Inc. (Canada), Citizen of Humanity LLC (U.S.), AG Adriano Goldschmied Inc. (U.S.), and VF Corporation (U.S.), among others.
Market Segmentation
The global denim market overview is classified on the basis of distribution channel, consumer group, and type.
Based on the consumer group segment, the global market for denim has been classified into female and male segments. Of these, the women's segments are generating significant market share because of the rising number of product launches for women with specific designs and the rising demand for skinny fit jeans among women.
On the basis of the fitting type segment, the global market for denim has been segregated into slim fit, loose fit, and others. Of these, the slim fit segment is predicted to generate the largest market share during the forecast period due to its perfect fit size and ability to provide a good body shape.
Based on the product type segment, the global market for denim has been segmented into bottom wear, top wear, and bags and accessories. The global denim market has been divided based on sales channels such as online and offline, specialty stores, hypermarkets and supermarkets, and department stores.
Regional Analysis
The global denim market has covered various geographical locations such as North America, Europe, Asia-Pacific, and the rest of the world.
Furthermore, the projection period is expected to see the North American region's denim market dominate due to rising disposable income and desire for high-quality clothing.
The fastest-developing regional denim market size is predicted to be the Asia-Pacific region during the research period. This region is expanding due to the growing purchasing power of the people in it.
Thus, many popular brands in denim market trends, including VF, ITG, American Eagle, Levi Strauss, and Perry Ellis Outfitters, are developing businesses in the local market, which is propelling the Asia-Pacific regional market growth.
Industry News
For instance, in Jan 2022, the prominent player Levi's announced its cooperation with its denim users. It has aimed to release a set of co-branded apparel with the support of Nintendo's Pokémon. Moreover, a denim trucker jacket was disclosed by the company that includes Pokémon designs highlighting animals like Mewtwo, Psyduck, Ekans, Diglett, Squirtle etc.
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