The Global Denim Jeans market is a dynamic and evolving industry that is witnessing several trends, and growth opportunities. The adoption of sustainable denim production, customization, and online retail are some of the key trends dominating the denim market.
Denim is one of the most well-liked and adaptable materials in the world. Denim has developed into a symbol of revolt, freedom, and individuality that transcends its status as merely a piece of clothing throughout time. There is a rising demand for denim items, which has led to steady growth in the worldwide denim jeans market.
According to a 2020 survey, the global denim market currently stood at $64.66 billion. It is projected to increase at a CAGR of 4.2% from 2021 to 2028. The new trends in the denim market include stress on sustainable denim production. A lot of denim businesses are switching to environmentally friendly methods of producing denim, like employing recycled materials, organic cotton, and consuming less water. Levi’s for instance has introduced a line of jeans made from cotton rags and recycled plastic bottles.
In addition, numerous companies now provide customizing options, letting customers pick the material, fit, and style of their jeans. Companies like Levi’s and G-Star Raw offer this option. With more businesses opening their online stores and collaborating with e-commerce platforms, consumers are increasingly purchasing denim products online.
Denim jeans are of different types and styles that include Slim Fit, Regular Fit, Skinny Fit, and Relaxed Fit. Regular due high level of comfort provided by the fit segment is expected to lead to gains over the stipulated timeline. The jeans are produced by men, women, and children and are available both at low prices as well on premium. These jeans are available in hyper and supermarkets, convenience clothing stores, specialty stores, and online sales channels. The online sales channel is anticipated to generate significant revenue over the forecast.
The denim market is spread around the globe. Its prominent brands include Levi Strauss and Co., LVMH Moet Hennessy Louis Vuitton SE, PVH Corp., The Gap Inc., Pepe Jeans S.L., U.S. Polo Assn, Levi Strauss & Co., VF Corp., The Gap, Inc., Hennes & Mauritz AB, Kering S.A, 34 Heritage, American Eagle Outfitters Inc., BESTSELLER AS, Capri Holdings Ltd., Giorgio Armani Spa, and Kontoor Brands Inc.
The denim industry is facing several challenges that could impact its growth. Here are some of the key challenges facing the denim market. It includes sustainable textiles and athleisure clothing are two alternatives to denim. High labor and material cost are making it difficult for denim brands to sustain profits.
The denim industry has always struggled with labour and ethical problems like inhuman working conditions, low pay, and child labour.
Sustainable textiles and athleisure clothing are possible competitors of denim
