Denim Market to Witness the Highest Growth Globally in Coming Years

Posted on 2019-07-26 by P&S Intelligence in Semiconductors, Technology // 0 Comments

Global Denim market is expected to reach $79,211.0 million by 2023. Transformation of Asian retail clothing industry, growing e-commerce industry and expansion of organized retail is driving the market globally.

Based on distribution channel, the denim market has been categorized into specialty stores, department stores, hypermarkets and supermarkets, online, and exclusive stores. Of these, the specialty stores held the largest market share of around 23% in 2017, owing to the fact that these stores offer various brands under one roof and attractive pricing to lure customers.

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On the basis of product, the denim market has been categorized into jeans, jackets and shirts, dresses, and others, wherein others include tops and shorts. Out of these, the market for jeans held a share of more than 75% in 2017, owing to trending styles in jeans such as cropped jeans, mom jeans, distressed and rugged jeans, globally.

The denim market in APAC is expected to witness fastest CAGR of over 10%, during 2018–2023. The rising disposable income of people, expanding base of working-class population, availability of ample amount of raw materials and cost-friendly labor resources, as well as increasing government initiatives in countries like India, China, and Vietnam are the key factors contributing to the growth of market in the region.

The players in the denim market are trying to improve their supply chain network to maximize profits through partnerships with supply chain experts.

For instance, in March 2017, PVH Corporation entered into an agreement with Li & Fung Trading Limited, through which the company targets to enhance its ability to make its products available to customers well in time.

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Some of the key players operating in the denim market are Levi Strauss & Co., The Gap Inc., VF Corporation, H & M Hennes & Mauritz AB, PVH Corp, Kering, Pepe Jeans S.L., Bestseller A/S, U.S. Polo Assn.

Global Denim Market Segmentation

By Product

Jeans
Jackets and Shirts
Dresses
Others (includes tops and shorts)

By Segment

Mass Market
Standard
Premium

By Consumer Type

Men
Women
Children

By Distribution Channel

Specialty Stores
Department Stores
Hypermarkets and Supermarkets
Online
Exclusive Stores

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