According to a report available on Radiant Insights, Inc., the denim jeans market is expected to show substantial growth during the forecast period (2017 to 2022). Rising number of young professionals and companies encouraging casual Fridays at the work place can create several opportunities in the market. The introduction of softer cotton, four-way stretch, and other features such as anti-odor, windproof lines, and heat teach in denim jeans is also expected to create a larger customer base in the years to come.
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Denim jeans hold a prominent position as a fashion item in the clothing industry and are very popular among teenagers and young adults. They are considered as casual wear and are highly adopted by women, men, and children. Appropriate fitting, durability, and style are the major qualities that have increased the fondness of denim jeans among consumers. Therefore, many manufacturers are substituting cotton with synthetic fibers to manufacture denim jeans to cater to the increasing demand for comfort stretch denim. Earlier, stretch materials were utilized to manufacture only women’s apparel such as jeggings and leggings. However, clothes manufactured using these materials are gaining traction among male customers owing to the comfort and convenience they present. Additionally, growing cotton prices has increased the demand for stretch fibers.
Manufacturers are widely using used plastics or fabrics and bio-based products in the manufacturing of denim jeans.
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For instance, recently, Lenzing developed new Refibra branded lyocell fibers. This fabric is manufactured from recycled cotton and rationally harvested wood and is manufactured during the lyocell production process. However, introduction of yoga pants as well as other active wears may hinder market growth over the forecast period. Large number of unorganized denim jeans manufacturers in developing countries may also hamper market growth.
The worldwide denim jeans market can be segmented on the basis of type and application. As per type, the market can be segmented into essential function, aesthetic embellishment, and image projection. Based on application, the denim jeans market can be classified into men, women, and children. The women’s premium denim segment has been dominating the global market and is likely to continue its dominance over the forecast period.
Geographically, the denim jeans market can be segmented into North America, China, Europe, Southeast Asia, Japan, and India. North America represents the largest market, followed by Europe and Southeast Asia. Southeast Asia is estimated to be the fastest growing market over the forecast period. Major factors such as growing penetration and rising awareness of quality denim jeans brands, rising middle class population, increasing disposable income, and improving lifestyle among consumers are driving the market in this region. Low labor cost has also created a positive outlook for the denim jeans market in this region. China has emerged as a major contributor in this region. The concept of sustainable jeans is gaining popularity in various developing countries in this region, including India and China.
Key companies operating in the denim jeans market include Levis, Wrangler, Guess, Diesel, and GAP. The market includes a wide range of brands that offer different quality and fitting options in denim jeans. Companies are competing against each other in terms of pricing, multifunctional features, and value-added benefits.
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