Denim Jeans Market Size Expected to Grow $88.1 Bn by 2030 | Relaxed fit jeans Exceed $4,184.5 Million, garnering 7.4% of the global market share

According to a new report published by Allied Market Research, titled, "Denim Jeans Market," The denim jeans market was valued at $56.2 billion in 2020, and is estimated to reach $88.1 billion by 2030, growing at a CAGR of 4.2% from 2021 to 2030.

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According to the denim jeans market trends, on the basis of product type, the skinny fit segment is estimated to reach $21,744.9 million by 2030, at a CAGR of 6.0% during the forecast period. Skinny denim jeans are cut even slimmer than slim jeans from the thigh down to the legs, making it look skinnier. It gives consumers the illusion of being long and lean, and the allure of a feminine silhouette. Women and men who like to flaunt their curves and figure, they usually prefer to buy skinny fit denim jeans.

According to price range, the premium segment was the significant contributor to the market, with $19,748.7 million in 2020 and growing at a CAGR of 4.7% during the forecast period. Premium denim jeans are usually made with higher quality denim fabric and designed under special craftsmanship, owing to which prices of the premium denim jeans are higher as compared to other jeans. Premium price point denim jeans are consumed majorly in developed countries, such as the U.S., UK, Spain, and Japan. Growing fashion consciousness and rise in expenditure on personal attire are likely to attract customers to buy premium denim jeans. Thus, above mentioned factors are likely to garner the growth of the premium segment, thus driving the growth of the denim jeans market.

According to end user, the men segment is estimated to reach $38,633.2 million by 2030, growing at a CAGR of 3.7% during the forecast period. Men denim jeans are expected to witness considerable growth during the forecast period due to the rise in trend of fashion among men. Furthermore, increase in number of new product launches in men denim jeans and casualization of office wear are expected to increase the denim jeans market demand through the men segment.

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According to distribution channel, the online sales channel segment was the significant contributor to the market, with $9,853.6 million in 2020 and is growing at a CAGR of 6.0% during the forecast period. Easy accessibility offered by online sales channel boosts their adoption in the denim jeans market. Online sales channel have become a considerably popular medium for purchase of denim jeans. Easy availability of information about product specifications, time-saving feature, and facility of home delivery contribute to the growth of online denim jeans sales.

Region-wise, Asia-Pacific garnered the considerable denim jeans market share in 2020, and is expected to maintain its market share during the forecast period. This is majorly attributed to growing production of denim, presence large consumer base countries including India and China, and growing millennial population and disposable income. Western dressing style has influenced a lot on India and China and is expected to continue resulting in denim wear increased growth during the forecast period.

Key Finding

In 2020, depending on fitting type, the relaxed fit segment accounted for $4,184.5 million, garnering 7.4% of the global market share.

In 2020, on the basis of price range, the mass segment acquired $36,456.1 million, exhibiting 64.9% of the global market share.

In 2020, by end user, the children segment was valued at $9,889.1 million, accounting for 17.6% of the market share.

In 2020, on the basis of distribution channel, the specialty stores segment acquired $7,219.2 million, exhibiting 12.8% of the global market share.

U.S. was the most prominent market in North America in 2020, and is projected to reach $19,400.9 million by 2030, growing at a CAGR of 2.3% during the forecast period.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

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