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Denim Jeans Market size is set to grow by USD 23.86 billion from 2024-2028, Expanding retail space boost the market, Technavio

EU editor ~ 8/2/2024
NEW YORK , July 16 , 2024 /PRNewswire/ -- The global denim jeans market size is estimated to grow by USD 23.86 billion from 2024-2028 , according to Technavio . The market is estimated to grow at a CAGR of over 6.64 % during the forecast period . Expanding retail

NEW YORK, July 16, 2024 /PRNewswire/ -- The global denim jeans market size is estimated to grow by USD 23.86 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 6.64%  during the forecast period. Expanding retail space is driving market growth, with a trend towards recycling jeans from plastic and other materials. However, fierce competition in apparel industry poses a challenge. Key market players include AG Adriano Goldschmied Inc., American Eagle Outfitters Inc., ASOS Plc, BESTSELLER AS, Dolce and Gabbana S.r.l., EDWIN Europe GmbH, Esprit Holdings Ltd., G Star Raw eStore BV, Giorgio Armani S.p.A., Guess Inc., H and M Hennes and Mauritz GBC AB, Kering SA, Kontoor Brands Inc., Levi Strauss and Co., LVMH Moet Hennessy Louis Vuitton SE, Pepe Jeans SL, PVH Corp., Ralph Lauren Corp., Tapestry Inc., and The Gap Inc..

Technavio has announced its latest market research report titled Global denim jeans market 2024-2028
Technavio has announced its latest market research report titled Global denim jeans market 2024-2028

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Denim Jeans Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 - 2022

Forecast period

2024-2028

Growth momentum & CAGR

Decelerate at a CAGR of 6.64%

Market growth 2024-2028

USD 23863 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

6.12

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 44%

Key countries

US, China, Germany, France, and Japan

Key companies profiled

AG Adriano Goldschmied Inc., American Eagle Outfitters Inc., ASOS Plc, BESTSELLER AS, Dolce and Gabbana S.r.l., EDWIN Europe GmbH, Esprit Holdings Ltd., G Star Raw eStore BV, Giorgio Armani S.p.A., Guess Inc., H and M Hennes and Mauritz GBC AB, Kering SA, Kontoor Brands Inc., Levi Strauss and Co., LVMH Moet Hennessy Louis Vuitton SE, Pepe Jeans SL, PVH Corp., Ralph Lauren Corp., Tapestry Inc., and The Gap Inc.

Market Driver

The denim jeans market is experiencing significant growth due to increasing global demand for apparel. However, this trend poses a challenge as denim production consumes substantial resources such as water, chemicals, and energy. To mitigate the environmental impact, recycling denim jeans from textile waste is a viable solution. This process transforms shredded denim into thin fibers, which are then used to produce yarns. Innovations in denim manufacturing, such as foam dyeing and laser finishing, minimize water usage and chemicals. Collaborations between brands, suppliers, and research institutions are driving the development of water-saving technologies and practices, promoting sustainable growth in the denim jeans market. 

The denim jeans market is experiencing significant trends among baby boomers, with a growing demand for denim collections that cater to a wider size range. Parents' preferences lean towards loose-fitting clothes due to comfort and convenience. The women's population, especially, drives the market, as standards of living continue to rise. The lockdown has shifted shopping behavior towards essential services and clothing manufacturers and retailers have responded by expanding their online channels. Manual laborers and men in the segment prefer traditional work clothes like jeans, shirts, and jackets. In contrast, women's wear market trends include low-rise, curve, and straight-leg skinny jeans, trousers, and other denim designs, patterns, and colors. Raw materials like cotton remain popular for their durability and comfort. Fashion clothing stores and specialty stores cater to various demographics, while in-store purchases and branded store visits remain important for those seeking a personalized shopping experience. The rise of smartphone users and increasing internet penetration has boosted e-commerce websites as a convenient shopping option. Fashion influencers and awareness campaigns play a crucial role in setting trends and driving sales. 

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Market Challenges

  • The denim jeans market faces intense competition in the apparel industry, leading to a negative impact on demand. Brightly colored bottom wear, such as dresses, leggings, and athletic and yoga pants, have become popular and taken up significant retail space. Consumers increasingly prefer these alternatives due to their versatility. Additionally, inconsistent denim quality, resulting from inadequate textile processing or poor recycling methods, disappoints customers. Early fading, wear and tear, shrinkage, and odor are common issues that affect the value consumers perceive. In this competitive landscape, the demand for denim jeans may be affected during the forecast period.
  • The denim jeans market experiences various challenges in the textile industry. Cotton-based denim jeans remain popular work clothes and casual wears for both men and women. However, changing fashion trends bring new designs, patterns, and colors to the scene. Fitting type preferences, such as skinny fit, tapered fit, regular fit, athletic fit, and others, impact consumer spending capacity and price point. Fashion influencers and awareness campaigns influence the sense of fashion, leading to eco-friendly denim jeans with antimicrobial properties gaining traction. Exporters and importers face challenges in sourcing high-quality denim fabric from leading brands like Levi Strauss, Levi's, Kontoor Brands, Wrangler, Lee, Spinoff, and Vans. Offline channels continue to dominate sales, but online platforms are growing in popularity. The mass market for denim jeans caters to various segments, including women and casual wardrobe preferences.

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Segment Overview 

This denim jeans market report extensively covers market segmentation by  

  1. End-user 
  • 1.1 Men
  • 1.2 Women
  • 1.3 Children
  • Distribution Channel
  • Geography 
    • 3.1 APAC
    • 3.2 North America
    • 3.3 Europe
    • 3.4 South America
    • 3.5 Middle East and Africa

    1.1 Men-  The denim jeans market is a significant segment of the global apparel industry. In 2020, it was valued at over USD50 billion and is projected to grow at a steady rate. Consumers prefer denim jeans for their durability, versatility, and timeless style. Brands cater to various demographics, offering different fits, washes, and finishes. Denim jeans are a wardrobe staple for people of all ages and continue to be a popular choice for casual and smart-casual occasions.

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    The global women's apparel market is experiencing robust growth, driven by evolving fashion trends, rising disposable incomes, and increasing online shopping. Key players like H&M, Zara, and Nike are expanding their product lines and leveraging digital platforms to reach wider audiences. Sustainable and eco-friendly fashion is gaining traction, with consumers demanding more ethical choices. Asia-Pacific, particularly China and India, is emerging as a lucrative market due to a growing middle class. Innovations in fabric technology and personalized shopping experiences are further propelling market expansion.

    Research Analysis

    Denim jeans have been a staple in casual wardrobes for decades, with their durability and timeless style making them a must-have for many. Made primarily from cotton, denim jeans come in various designs, patterns, and colors to suit different preferences. Jeans can be paired with shirts, jackets, or worn on their own, making them versatile work clothes or weekend essentials. The denim fabric used in jeans is known for its rugged texture and ability to adapt to various fittings, from loose to snug. Exporters and importers play a crucial role in bringing these denim collections to consumers worldwide, offering a wide size range to cater to various waistband adjusters and parental preferences. Denim jeans continue to be a popular choice for baby boomers and younger generations alike, with new styles and trends emerging regularly to keep up with evolving fashion preferences.

    Market Research Overview

    Denim jeans have long been a staple in wardrobes around the world, beloved for their durability and versatility. Made primarily from cotton, denim jeans come in various designs, patterns, and colors, catering to different preferences and fashion trends. Fitting types range from skinny fit to tapered, regular, athletic, and loose, with size ranges accommodating various body types. The denim industry, a significant player in the textile market, produces denim fabric for jeans, jackets, shirts, and work clothes. The denim jeans market caters to both men and women, with leading brands like Levi's, Wrangler, Lee, Spinoff, Vans, and others dominating the casual wear segment. The market is influenced by fashion influencers, awareness, and the sense of fashion among different demographics, including baby boomers and the women population. With the rise of eco-friendly denim jeans and denim collections, the industry also focuses on sustainability and antimicrobial properties. The denim jeans market is accessible through both offline and online channels, with exporters and importers playing crucial roles in global trade. Consumers' spending capacity, price point, and fitting type are significant factors influencing purchasing decisions. The denim jeans market has been impacted by lockdowns and essential services, with clothing manufacturers, retailers, and fashion clothing stores adapting to changing consumer behavior through online channels and e-commerce websites. Smartphone users and increasing internet penetration have also contributed to the growth of the online denim jeans market.

    Table of Contents:

    1 Executive Summary
    2 Market Landscape3 Market Sizing4 Historic Market Size5 Five Forces Analysis6 Market Segmentation

    • End-user
    • Distribution Channel
    • Geography
      • APAC
      • North America
      • Europe
      • South America
      • Middle East And Africa

    7 Customer Landscape8 Geographic Landscape9 Drivers, Challenges, and Trends10 Company Landscape11 Company Analysis12 Appendix

    About Technavio

    Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

    With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

    Contacts

    Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com/

    SOURCE Technavio Originally published at https://www.prnewswire.com/news-releases/denim-jeans-market-size-is-set-to-grow-by-usd-23-86-billion-from-2024-2028--expanding-retail-space-boost-the-market-technavio-302196932.html Some images courtesy of https://pixabay.com

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