Denim Market Study Report 2023 By Trends, Growth Factors and Top 10 Companies include PVH Corp., Hennes & Mauritz AB, Levi Strauss & Co., Inditex, American Eagle Outfitters, Inc.

The global denim market is projected to garner USD 128,643.1 million during the forecast period (2018-2023). The global market is anticipated to experience 4.60% CAGR owing to the growing preference of denim apparel among the youth, asserts Market Research Future (MRFR). Denim is referred to as a rugged cotton twill textile or a fabric which is used to prepare products such as shirts, jeans, bags, jackets, and other accessories. Evolved from the demand of American gold-miners in order to withstand the work stress, has gained huge acceptance especially among the youth population. The first denim manufactured was in the year 1873 by Levi Strauss and Jacob Davis. Today denim is a fashionable and important item in every wardrobe and has become one of the most lucrative businesses across the globe.

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Top Companies:

PVH Corp.
Inditex
Hennes & Mauritz AB
Levi Strauss & Co.
VF Corporation
American Eagle Outfitters, Inc.
Gildan Activewear, Inc.
AG Adriano Goldschmied, Inc.
Uniqlo Co. Ltd
Citizen of Humanity LLC

Market Overview:

Denim market has gained huge acceptance in the fashion industry across the globe. With youth becoming extremely fashion conscious, the spending on branded denims have increased. The increasing preference for denim apparel among the youth is one of the major drivers for the market growth. Also, the augmenting per capita income among the youth is supporting the market to a great extent. Denims are largely preferred due to its durability, comfortable nature, and low maintenance. They are available in formal as well as casual wear, and a wide variety of shades. Such factors have highly influenced the market growth during the assessment period. The growth of e-commerce and organized retail sector has further contributed to the growth of the market. With the growth of several retail chains such as specialty stores, supermarkets, and hypermarkets, the denim market is anticipated to flourish during the estimated period. Development of retail sectors is taking place in tier-2 and tier-3 cities besides major cities, which has further accelerated the reach of denim products. Additionally, with the growing number of shopping malls and availability of denim products through e-commerce have further increased the sales of the market across the globe.

On the flip side, counterfeit products are considered one of the common restraints to the growth of the market. Several popular brands undergo the fight against fake products in the global market. For instance, in August 2017, LEVI’s had filed a complaint in the US district court stating that a group of unnamed defendants had created an e-commerce site selling counterfeit LEVI’s products to the consumers.

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List of Tables:

TABLE 1 GLOBAL DENIM MARKET, BY TYPE, USD MILLION, (2016-2023) 12

TABLE 2 GLOBAL DENIM MARKET, BY CONSUMER GROUP, USD MILLION, (2016-2023) 12

TABLE 3 GLOBAL DENIM MARKET, BY DISTRIBUTION CHANNEL, USD MILLION, (2016-2023) 13

TABLE 4 GLOBAL DENIM MARKET, BY REGION USD MILLION, (2016-2023) 14

TABLE 5 LIST OF ASSUMPTIONS 17

TABLE 6 GLOBAL DENIM (LOOSE FIT) MARKET, BY REGION, 2016-2023 (USD MILLION) 36

TABLE 7 GLOBAL DENIM (SLIM FIT) MARKET, BY REGION, 2016-2023 (USD MILLION) 36

TABLE 8 GLOBAL DENIM (OTHERS) MARKET, BY REGION, 2016-2023 (USD MILLION) 37

TABLE 9 GLOBAL DENIM (MALE) MARKET, BY REGION, 2016-2023 (USD MILLION) 40

TABLE 10 GLOBAL DENIM (FEMALE) MARKET, BY REGION, 2016-2023 (USD MILLION) 40

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Detailed Regional Analysis:

Among all the regions, North America is considered to be an attractive region among the manufacturers and demonstrate 4.37% CAGR over the review period to touch USD 44,060.3 million at the end of 2023. This can be credited to the expanding product portfolio of denim by the major manufacturers. Innovation in design and color is another factor considered to contribute to the market growth. Moreover, key manufacturers are focusing on promotional activities in order to create awareness among the consumers regarding new product launch. Such factors are likely to influence the market growth to a great extent in this region.

With 4.45% CAGR over the assessment period, the European market is considered to occupy a major share in the global market owing to the development of latest products and technological upgradations in this region. Consumers in this region are seen to prefer wearing denim more compared to other regions, which further contributes to the market growth. Moreover, the market is predicted to garner USD 15,550.9 million owing to the increased adoption of distressed denim and discount offerings.

The Asia Pacific region is considered to be a lucrative region among denim manufacturers across the globe and is predicted to register 5.11% CAGR from 2018 to 2023. With the rising middle-class income population coupled with mass urbanization, the market in this region is considered to flourish. Moreover, the rising per capita disposable income of the consumers have resulted in the increasing sales of denims in this region.

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This release was published on openPR.