Denim Market | Covid19 Impact Analysis | Business Outlook, Growth, Revenue, Trends and Forecasts 2030


Posted July 8, 2020 by devanshu

The global denim market generated a revenue of $56.1 billion and is predicted to register a 5.8% CAGR during the forecast period

 
The trend of increasing usage of polyester in denim products is predicted to create rising requirement for denim products in the coming years. In this era of sports and its related wear, polyester possesses advantages such as durability and abrasion-resistant features, and is more stretchable as compared to 100% cotton blends. As polyester is first heat treated and then cooled and stretched, it can stretch more than any other denim blend. Due to these factors, the vendors are increasingly blending polyester in denim in order to make the life span of the apparel longer.

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It is due to these factors that several denim vendors are making use of different online distribution channels, as they are able to provide customized denim products to their customers, according to their preference of size and color. As per a report by P&S Intelligence, in 2017, the global denim market generated a revenue of $56.1 billion and is predicted to register a 5.8% CAGR during the forecast period (2018–2023). Different denim products include dresses, jeans, and jackets & shirts. Some other denim products are shorts and tops. Out of these, the largest demand during the forecast period is projected to be created for jeans.

Apart from online channels, denim products are also distributed via specialty stores, exclusive stores, hypermarkets & supermarkets, and department stores. The largest demand for denim products was created by the specialty stores during 2013–2017; however, the online distribution channel is expected to dominate the domain in 2023, growing the fastest pace during the forecast period. Premium, mass market, and standard are the different segments in the denim domain, among which, the largest requirement during 2013–2017 was created for mass market denim products and the situation is projected to remain the same in the near future as well. The fastest growth in demand is expected to be registered by premium denim products during the forecast period.

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Among all the regions, namely Asia-Pacific, Europe, North America, Middle East and Africa, and Latin America, the denim market was dominated by North America during 2013–2017. However, in the coming years, the APAC region is expected to create the largest demand for different denim products. The reasons for this are the enhancements in the quality of manufacturing, rising disposable income, availability of ample amount of raw materials & cheap labor resources, improved standard of living, urbanization, expanding base of the working-class population, and increasing government initiatives in countries including Vietnam, India, and China.
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Issued By Devanshu
Country United States
Categories Business
Last Updated July 8, 2020