The global denim jeans market size was valued at $56.2 billion in 2020, and is projected to reach $88.1 billion by 2030, growing at a CAGR of 4.2% from 2021 to 2030.
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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.
Denim jeans continue to be a staple in the fashion industry and remain popular globally. Here are some of the current trends in the denim jeans market:
Sustainable and Eco-friendly Materials: Consumers are becoming more conscious about the environmental impact of the clothing they purchase, leading to a demand for denim made from sustainable and eco-friendly materials, such as organic cotton, recycled water and recycled polyester.
Wide-Leg Jeans: Wide-leg jeans are making a comeback and have become a popular trend in recent years. This style offers a comfortable and relaxed fit that is perfect for casual and dressier occasions.
High-Waisted Jeans: High-waisted jeans have become increasingly popular as they offer a flattering and versatile fit that can be dressed up or down. This style is particularly popular among women.
Distressed and Ripped Jeans: Distressed and ripped denim continues to be a popular trend, with consumers seeking a more relaxed, casual and edgy look.
Denim on Denim: Denim on denim, also known as the Canadian tuxedo, has become a popular trend, especially among celebrities. This trend involves wearing a denim jacket and denim jeans in similar or complementary shades.
Colored Denim: While blue denim remains the most popular color, colored denim, such as red, green and yellow, are gaining popularity among consumers seeking to add a pop of color to their outfits.
The denim jeans market presents several opportunities for growth and expansion, including:
Expansion into Emerging Markets: As economies grow in developing countries, there is a potential for growth in the denim jeans market, particularly in Asia and Africa.
Innovation in Designs and Styles:There is room for innovation in the denim jeans market, including the development of new styles, fits, and designs that meet the changing needs and preferences of consumers.
Online Sales: The growth of e-commerce and online shopping presents an opportunity for denim manufacturers and retailers to reach a wider audience and increase sales through online channels.
Premium and Luxury Brands: There is a growing market for premium and luxury denim brands, as consumers are willing to pay more for high-quality, well-made jeans that are durable and stylish.
Collaborations and Limited Editions: Collaborations and limited edition collections with designers, celebrities, and influencers can increase brand awareness and help to differentiate products in a crowded market.
Personalization and Customization:
Personalization and customization services, such as monogramming and hemming, can offer consumers a unique and personalized experience, helping to drive sales and customer loyalty.
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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.
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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.
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