According to a new report published by Allied Market Research, titled, “Denim Jeans Market,” The denim jeans market was valued at $56.2 billion in 2020, and is estimated to reach $88.1 billion by 2030, growing at a CAGR of 4.2% from 2021 to 2030.
The denim jeans market has witnessed steady growth in recent years. Manufacturers are now focused on the Asian countries, such as India and China, to expand their foothold due to the maturity of the North American and European markets. Thus, most companies have shifted their production plants to China and other Asia – Pacific countries to cut down the manufacturing costs. Moreover, this shift is anticipated to draw the companies closer to their target market. Upsurge in population and improvement in economic condition of countries such as India, China, and Brazil, boost the growth of the denim jeans market. However, the adoption of branded products has witnessed an upward trend in the developing regions, as consumers have focused on using premium denim jeans during the past few years.
Prime determinants of growth
Rise in spending capacity, per capita consumption of the denim jeans, consciousness regarding the cloths suitable for the body types, and acceptance for casual wears for office work drive the growth of the global denim jeans market. However, work from home practices, rise in popularity for loose-fitting clothes, and adoption of voluntary simple lifestyle hinder the market growth. On the other hand, increase in disposable income in the developing countries of Asia-Pacific, such as India and China, has increased the expenditure on personal grooming and clothing. This presents new opportunities in the coming years.
Request Sample Report at: – https://www.alliedmarketresearch.com/request-sample/12446
Covid-19 Scenario
- The outbreak of the Covid-19 pandemic has had a negative impact on the growth of the global denim jeans market, owing to closure of retail stores across the world.
- The pandemic had halted the production facilities in the denim jeans industry and disrupted the supply chain, owing to the implementation of lockdown. This, in turn, hampered the market growth.
- Moreover, dynamic changes in expenditure pattern of the consumer restricted the market growth to some extent.
The slim fit segment to maintain its leadership status throughout the forecast period
Based on fitting type, the slim fit segment held the highest market share in 2020, accounting for more than two-fifths of the global denim jeans market, and is estimated to maintain its leadership status throughout the forecast period. Development in denim fabric and availability of slim fit denim jeans in various patterns boost the demand for slim fit denim jeans. However, the skinny fit segment is projected to manifest the highest CAGR of 6.0% from 2021 to 2030. Skinny fit denim jeans are more popular in the women segment as they look fashionable and stylish.
The men segment to maintain its lead position during the forecast period
Based on end user, the men segment accounted for the largest share in 2020, contributing to nearly half of the global denim jeans market, and is projected to maintain its lead position during the forecast period. This is due to the fact that biggest celebrities, athletes, and other artists are paying attention toward fashion and collaborating with some of the world’s biggest denim jeans brands, such as Wrangler, Calvin Klein, AG Adriano Goldschmied, Rag & Bone, and others. However, the women segment is expected to portray the largest CAGR of 5.0% from 2021 to 2030. Rise in spending capacity of working women supplement the demand for premium denim jeans among women.
North America to maintain its dominance by 2030
Based on region, North America held the highest market share in terms of revenue 2020, accounting for nearly two-fifths of the global denim jeans market. This is due to rise in popularity of colored denim jeans and launch of newer styles and premium price-based denim jeans. However, the Asia-Pacific region is expected to witness the fastest CAGR of 6.2% during the forecast period. Rise in number of working women, rapid urbanization, increase in westernization of lifestyles in emerging economies, and rise in fashion consciousness are the factors that propel the growth of the global denim jeans market in this region.
For Purchase Enquiry at: – https://www.alliedmarketresearch.com/purchase-enquiry/12446
Leading Market Players
- Canatiba Denim Industry
- Diesel S.p.A.
- H & M Hennes & Mauritz AB
- Jack & Jones
- Kontoor Brands, Inc.
- Lee Cooper
- Levi Strauss & Co.
- Monte Carlo Fashions Ltd.
- PVH Corp.
- Under Armour, Inc.
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn Twitter