$88.1 Billion Denim Jeans Market is Likely to Grow at 4.2% CAGR during the Period 2021–2030

PORTLAND, OREGON, UNITED STATES, March 25, 2023 /EINPresswire.com/ -- The most recognizable fabric in the world is undoubtedly denim. No other type of fabric has attracted such widespread acclaim around the world. These days, this tough material has developed into one that is so aesthetically pleasing that one may even get denim-based home décor items. Consequently, the denim industry has been viewed as a lucrative alternative in the mass market.

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

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Moreover, the Asia-Pacific region is providing lucrative opportunities for the growth of the market. This is owing torise in disposable income in the emerging economies such as China & India, which has significantly increased the spending capacity of people on clothingfor personal grooming, thereby boosting the growth of the global denim jeans market. Factors such asgrowing standard of living,introduction of denim jeans with antimicrobial properties, launch of eco-friendly denim jeans, surge in trend of wearing denim jeans in work stations, offices,& special occasions, and per capita consumption of the denim jeans, at the same time, are contributing to the growth of the market in more than one way.

However, the outbreak of the COVID-19 pandemic led to have a negative impact on the growth of the global denim jeans market. This is attributed to the implementation of the global lockdown, which resulted to halt the denim production hubs across the world temporarily. Due to strict regulations and ban on import & export activities, a severe disruption caused in the global supply chain. This in turn, created several difficulties in supplying the raw materials. Shortage of skilled labor force, temporary closure of retail stores & malls, dynamic changes in expenditure pattern, and decline in sales of denim jeans were few more factors that restrained the growth of the market, especially in the initial period. Nevertheless, the market has already started to recover and is expected to get back on track soon.

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Furthermore, rise in sense of fashion among the global population is influencing the key market players to focus on product innovations with various designs, patterns, colors, and fitting. On top of that,several fashion influencers on social media and e-commerce platform are helping the fashion industry to grow with a wide array of denim jeans types such as skinny, tapered, athletic, andregular fit jeans, which is sequentially boosting the demand for denim jeans.

In addition, technological advancements have allowed Levi Strauss to design a new jean that is compatible with iPod music player. Also, this company has come up with a bullet proof denim jacket that has the looks of a perfect casual wear. Here, it is worth mentioning that the global denim jeans market has a huge scope to assemble immense growth in the years to come.

Key Take Away

Slim Fit segment held the major share of 42.4% in 2020.
Mass segment held the major share of 64.9% in 2020
Men segment held the major share of 46.0% in 2020
Hypermarket and Supermarket segment held the major share of 31.9% in 2020.
North America region held the major share of 37.2% in 2020.
Key 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.

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