Denim Market Overview
Denim Market is estimated to establish a 4.60% CAGR throughout the forecast period due to the growing fondness for denim apparel among the youth. A rugged cotton textile or fabric is used to prepare products such as jeans, jackets, bags, shirts, and other accessories.
COVID-19 Analysis of Denim Market
The denim industry has taken a hit globally due to the effect of the COVID-19 pandemic on the retailing sector. As most corporates ask employees to work from home until the vaccine is introduced at a larger scale, the sales of formal shirts and denim types are estimated to decline. The influence on various discretionary groups may not differ as limited social interactions and augmented WFH trends may beat apparel companies' growth in the coming year, leading toa certain amount of time before they can achieve their stride.
Denim Market Dynamics
Growing Preference for Denim Apparel
The popularity of denim in many fashion trends is foreseen to transform the denim market's sales trends in the approaching period.
Growth of Organized Retail Sector and E-Commerce
The retail sector's expansion due to e-commerce channel development is estimated to push the denim market size in the impending period.
Denim Market Opportunities
Penetrating Large Portfolio of Denim Garments and Accessories
The development of an extensive product range in denim garments is estimated to bolster the forecast period's global market.
Counterfeit products in the market are extremely high, which will restrict the development of genuine products in the forecast period.
Based On Type
The loose fit denim reports for 34.8% of the denim market share and is indicated to increase reasonably. On the other hand, slim fit denim is considered to hold its dominance throughout the estimated period due to swelling consumer preference towards skinny fit attire.
Based On Consumer Group
The female segment is considered to control a significant market percentage. The need for luxury and premium denim is quickening at a high pace due to growing per capita disposable revenue.
Based On Distribution Channel
The consumer partiality towards store-based channels is indicated due to the consumers' need for a one-stop shopping experience.
Denim Market Regional Analysis
North American Region To Appear At The Forefront Of Development
North America is considered an appealing region among the companies and has a 34.7% of the market share. The region is expected to display a moderate progress rate due to the major producers' expanding product portfolio of denim. With key manufacturers focusing on publicity activities to create awareness among the consumers about new product presentations, the North American region's market is believed to boom.
Europe To Amass A Considerable Share Of The Global Market
The European region is projected to occupy a major market share due to technological upgrades and the development of its latest products. The increased adoption of distressed denim coupled with the discount offerings has further contributed to the denim market development in this region.
Emerging Markets To Spur APAC
The Asia Pacific regional market is a profitable region among denim producers due to increasing middle-class income residents and mass urbanization. With the swelling per capita disposable income levels of customers, the denim sales have amplified in this region.
The chief companies operating the denim industry are:
Jan 2021 H&M Group-owned brand Cos has been creating important strides in sustainability, first with its 2020 denim collection made of 100 percent organic cotton, and now with a line that develops upon that and offers a circular solution. The brand debuted a novel assortment of men's and women's denim made solely of GRS- or RCS-certified recycled or GOTS- or OCS-certified organic cotton. Each piece is finished with rivet-free detailing to enable recycling at the end of its lifecycle.This furthers the brand's circular efforts, which have included its presentation of Resell, a platform that allows customers to buy and sell their used Cos apparel, as well as Restore, a line of repaired merchandise it debuted in 2019.
Jan 2021 Levi's has revealed another collaboration for its denim fans. This time around, the brand will be releasing a set of co-branded apparel in partnership with Nintendo's Pokémon. Levi's has unveiled a denim trucker jacket covered in Pokémon graphics featuring creatures such as Diglett, Ekans, Mewtwo, Squirtle, Psyduck, Vaporeon, and Oddish.
Jan 2021 Orta The Turkish denim mill lately introduced Golden Ratio, a standard for blending pre-and post-consumer recycled cotton and natural fibers. The company says it has developed, as the name implies, the optimum balance of these materials while achieving premium denim constructions without compromising their look, feel, and longevity. In developing this optimum balance, Orta's product development team considered two main factors at the spinning stage: fiber length and length distribution within the batch.
Jan 2021 Levi's and Target announced a limited-edition collection of home goods launched by Feb. 28. it will nod to Levi's for Target's collection of home and lifestyle items. This will mark the denim giant's first home goods partnership. The pair worked hand-in-hand to create the 100-piece collection of durably made items for the entire family across home, pets, and apparel and accessories. The assortment features items like tableware, quilts, pillows, rugs, and more.
Jan 2021 Closed, a German fashion brand has teamed up with Italian denim mill Candiani for a 100 % degradable denim collection. The capsule collection, which includes jeans and jackets for both women and men, is created using organic cotton and biodegradable stretch yarn Coreva, developed by Candiani.
Jan 2021 Pottery Barn Teen's latest co-branded collection includes denim and sustainability. The new Wrangler X Pottery Barn Teen assortment is designed to bring "authentic Western-style" to living spaces. The washed denim sheet sets are crafted using BCI cotton and are offered in dark or light denim. The top-of-bed choices consist of two prints on organic cotton and washed denim quilt and sham sets in dark or light denim. The denim curtain panel sets are Fair-Trade certified, wall tapestries are manufactured from recycled materials, and novelty pillowcases are sustainably sourced.
By Consumer Group
By Distribution Channel
Frequently Asked Questions (FAQ) :
denim market is expected to expand at 4.60% CAGR from 2018 to 2023.
denim market size can reach USD 128,643.1 million by 2023.
The rising numbers of the fashion-conscious youth and the large variety of choices offered by brands are major drivers of the global denim market.
denim market growth can be impeded by the presence of counterfeit products.
Inditex, Levi Strauss & Co., Uniqlo Co. Ltd, PVH Corp., AG Adriano Goldschmied Inc., Citizen of Humanity LLC, American Eagle Outfitters Inc., Hennes & Mauritz AB, Gildan Activewear Inc., and VF Corporation are major players currently working in the global denim market.