01st Mar 2021 - The global Denim Jeans Market size is anticipated to reach USD 102.45 billion by 2025, according to a new report by Million Insights. Increasing the target population across the globe is projected to drive the market during the forecast period, 2019 to 2025. Further, Increase in disposable income of semi-urban and rural areas, particularly in emerging countries. Rising living standards, product innovations and increasing investments by the manufactures are some of the factors which is anticipated to drive the market demand for denim jeans.
Offline channel segment holds the largest revenue share during the forecast period 2019 to 2025, owing to a wide range of fashion stores, apparel stores and specialty stores, etc. Moreover, the rising influence of western culture's on clothing style, increasing emphasis on design, development, promotion and marketing is likely to fuel the demand for the market over the forecast period.
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Asia Pacific market is expected to be the fastest-growing market during the forecast period, 2019 to 2025. This revenue growth is attributed to increasing consumer disposable income levels and changing lifestyle of the consumers. In addition, rising brand awareness among women’s, owing to its comfortable fit and stretchable cloth features in countries like China and India are expected to propel the demand for the market. Furthermore, devolving countries have been attracting more players to invest in R&D to meet the growing demands of the consumers. Moreover, denim is known to be the most versatile fabric for men, as it can be used in many applications, such as casual wear, everyday wear and office wear.
North America accounted for the largest revenue share during the forecast period, owing to high adoption of denim jeans among women as compared to men, product innovation and rising number of distribution channels such as specialty stores, online stores, brand outlets, convenience stores, and supermarkets/hypermarkets. Moreover, the growing trend of athleisure wear is forcing manufacturers to develop new products based on specific consumer needs. Furthermore, customer substantial demand for denim jeans is expected to fuel the denim jeans market in the region.
The European jeans market is anticipated to see reasonable growth during the forecast period, owing to the high adoption of tailor-made and skinny denim jeans. Denim jeans are the essential cloth in European apparels, as they are commonly used by men and women in almost all occasions. According to Cotton Council International (CCI) and Cotton Incorporated's Global Lifestyle Monitor, denim jeans have significantly high adoption among consumers of Germany and U.K with 81% and 68% respectively.
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Further key findings from the report suggest:
- Growing demand for high quality and comfortable apparel & clothing, particularly in developed countries, is expected to drive the demand for the market.
- In terms of market value, men end-user segment is anticipated to account for the largest share of the global market, by 2025.
- Offline distribution channel segment has accounted for more than 85% share in the global denim jeans market, in 2018. However, the increasing number of e-commerce channels is expected to boost demand for the online segment.
- North America was the prominent regional market, in 2018 and estimated to increase further, during the forecast from 2019 to 2025 with a steady CAGR.
- Asia Pacific region is anticipated to have the fastest CAGR during the forecast years, due to increasing consumer disposable income levels and changing lifestyle of the consumers in countries like South Korea, Indonesia and India.
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