Denim Jeans Market to Witness Robust Growth with Increasing Disposable Income Worldwide
According to a new market research report published by Brisk Insights, “Denim Jeans Market (By Product Type (Regular Fit, Slim-Fit, Loose Fit), By Consumer (Men, Women, Children), By Distribution Channel (Specialty Stores, Department Stores, Hypermarket and Supermarket, Online, Exclusive Stores), By Price Range (Economy, Standard, Premium, Super Premium) – Growth, Future Prospects and Competitive Analysis, 2019 - 2027”, the overall denim jeans market worldwide was valued at US$ 69.50 Bn in 2018 and is set to grow with 3.9% CAGR during the forecast period.
From the workpants of cowboys and miners, denim jeans rule the apparel world as the best loved clothing. Denim jeans are a form of pants typically made from denim fabric and now very popular casual bottom wear around the globe. In 2017, overall denim market (includes shirts, t-shirts, jeans and other denim products) was valued at more than US$ 93.40 Bn; whereas in 2018, more than 4.5 Bn pairs of jeans were sold worldwide. Denim jeans are worn as protective garment by some individuals such as cattle ranch workers and motorcycle riders, due to their comfort and durability. The recent trend to wear casual clothes in most workplaces is most prominent factor driving the market. On account of high demand of casual wear globally, especially among young people denim jeans market is on rise.
Based on product type, slim-fit segment is the leader in denim jeans market with more than 50% of the market share. People prefer slim-fit jeans due to their comfort over regular and loose fit jeans. Slim-fit jeans are stretchable and give a presentable look, which sets them apart from regular and loose fit jeans. Slim-fit jeans have tapered finish from top to bottom which gives taller look to an individual. As a result of these factors, slim-fit jeans will continue as the preferred choice of consumers and will dominate the market throughout the forecast period.
Based on the geography, in 2018, Europe was the leader in denim jeans market with more than 30% in terms of revenue, followed by North America and Asia Pacific. In terms of volume, in 2018, Asia Pacific was the leader in denim jeans market with more than 40% of the market share worldwide. According to Cotton Council International (CCI) and Cotton Incorporated’s global lifestyle monitor survey, affinity for denim is significantly high in Germany (81%) and Great Britain (68%). Asia Pacific anticipated to grow at the fastest rate due to growing popularity of denim jeans in semi-urban and rural areas. Rising standard of living, increasing disposable income and preference of premium products are the major growth factors in the region.
Major market players are focusing on strategies such as collaborations to improve their market presence. For example, in 2017, PVH Corporation (Phillips-Van Heusen Corporation) forms new strategic partnership with LI & Fung Limited for a new supply chain relationship. This partnership will help PVH Corporation to create a more effective & efficient supply chain. Strategic partnerships and mergers & acquisitions is expected to remain key strategy in years to come.
Some of the major companies profiled in the report include Phillips-Van Heusen Corporation, Levi Strauss & Co., Kontoor Brands Inc.(Wrangler), Diesel SpA, Lee, Pepe Jeans London, True Religion Brand Jeans, Calvin Klein Inc., Calvin Klein Inc., Guess, Inc., Gucci, Gianni Versace S.r.l., spykar, Pierre Balmain S.A., G-Star RAW, Lucky Brand Jeans, The Gap, Inc., Esprit Holdings and others.
Browse the full report at https://www.briskinsights.com/report/denim-jeans-market
The Global Denim Jeans Market is Segmented into:
By Product Type (2019–2027; US$ Bn)
By Consumer (2019–2027; US$ Bn)
By Distribution Channel (2019–2027; US$ Bn)
By Price Range (2019–2027; US$ Bn)
By Geography Segment (2019–2027; US$ Bn)
*Complete segmentation list is on report page