Denim Market Analysis
The global denim market is projected to grow at a 4.60% CAGR between 2018-2023, states the new Market Research Future (MRFR) report. Denim is a 100% cotton fabric that is twill weave woven, sturdy, and rugged. One of its key characteristics is it has diagonal ribbing that is visible on the fabric, which makes it different from the remaining cotton fabrics. Today, denim is available in different colors, materials, designs, and styles to cater to the variegated needs of the consumers.
Numerous factors are adding to the growth of the global denim market. These factors, according to the latest Market Research Future report, include trend of online shopping, changing perception in corporates for executive wear, penetration of western lifestyle and western fashion, growing apparel industry, and the rising influence of various social media platforms. Additional factors adding to the growth of the market included improving living standards, constant product innovations, and increasing awareness regarding the accessibility of a different variety of products, including regular fit, tapered, skinny, cropped, high rise, and boot cut jeans.
On the contrary, the availability of popular alternatives such as leggings, sweatpants, and yoga pants may restrict the global denim market growth during the forecast period.
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Denim Market Segmentation
The Market Research Future report provides a complete segmental analysis of the global denim market based on distribution channel, consumer group, and type.
By type, the global denim market is segmented into the slim fit, loose fit, and others. Of these, the slim fit segment will command the largest share in the market during the forecast period for increasing preference of consumers for skinny fit apparel.
By consumer group, the global denim market is segmented into female and male. Of these, the female segment will dominate the market during the forecast period. The demand for premium and luxury denim is increasing at a high pace for the rising per capita disposable income.
By distribution channel, the global denim market is segmented into non-store based and store based. Of these, the store-based segment will lead the market during the forecast period for the one-stop shopping experience.
Denim Industry News
January 2020: Stella McCartney will soon launch biodegradable stretch denim, the first of its kind. She will join hands with Candiani, leading Italian brand for creating eco-friendly stretch denim with plant-based yarns. It will be made with 100% organic cotton and will be free from microplastics and plastics. This product line is biodegradable sans compromising on elasticity.
Denim Market Key Players
Notable players profiled in the global denim market report include AG Adriano Goldschmied Inc. (US), VF Corporation (US), Gildan Activewear Inc. (Canada), Citizen of Humanity LLC (US), PVH Corp. (US), Uniqlo Co. Ltd (Japan), Hennes & Mauritz AB (Sweden), Levi Strauss & Co. (US), Inditex (Spain), and American Eagle Outfitters Inc. (US). Key players have incorporated specific strategies to create a niche in the market, such as collaborations, joint ventures, product launch, mergers, acquisitions, and others.
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Denim Market Regional Analysis
By region, the global denim market report covers the latest trends and growth opportunities across the Americas, Europe, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, North America will dominate the market during the forecast period for the expanding denim product portfolio by leading manufacturers. Key manufacturers in the region are emphasizing on promotional activities for creating awareness about new product launches that is adding to the market growth.
The denim market in Europe will hold the second-largest share in the market during the forecast period. Numerous factors are adding to the growth of the market in the region, such as discount offerings, increased use of distressed denims, development of new products, and technological upgrades.
The denim market in the APAC region will have lucrative growth during the forecast period. Numerous factors are adding to the growth of the market in the region, such as increasing sales of denim, rising disposable income, mass urbanization, and rising middle-class income population.
The denim market in the RoW will have steady growth during the forecast period.
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