Industry Overview
The Global Denim Market size was USD 78.4 billion in 2023, to expand to reach USD 102 billion by 2030 with a growth rate (CAGR) of 6.8% during the forecasted year. The factors responsible for the growth of denim across the globe are increasing disposable income, growing government initiatives for manufacturing products in the countries such as China, Vietnam, and India, and increasing growth in the e-commerce industry.
Market Segmentation
Insight by Product
Based on product, the global denim market is categorized into jeans, jackets & shirts, dresses, and others. In 2023, the jeans segment is expected to dominate the denim market. The popularity of jeans pants among teenagers and adults is the major factor for its larger market, as compared to other denim products. Also, the availability of different styles of jeans, such as stretch jeans, skinny jeans, mid and high-rise denim, ultra-low-rise denim, boyfriend jeans, straight/ cigarette jeans, flare jeans, cuffed jeans, Capri jeans, cropped jeans, wide-leg jeans provides different options for customers to choose according to their choices. Long-bottom jeans have been gaining popularity these days, and more players are making investments in them.
Insight by Segment
Based on segment, the global denim market is bifurcated into mass market, standard, and premium. In 2023, the mass market category is expected to be the largest among all the segments and is projected to maintain its dominance, over the study period. However, the premium segment is expected to experience the fastest growth rate during the forecast period. This is owing to the increasing number of the upper middle class, and increasing westernization.
Insight by Consumer Type
Based on consumer type, the global denim market is categorized into men, women, and children. In 2023, the men's segment is expected to be the largest among all the segments and is projected to maintain its dominance, over the study period. This is owing to their high demand for rugged material and casual clothing.
Insight by Distribution Channel
Based on distribution channels, the global denim market is categorized into speciality stores, department stores, hypermarkets & supermarkets, online, and exclusive stores. During the forecast period, the online distribution channel is expected to register the fastest growth in the denim market owing to the rapidly growing e-commerce industry around the globe, with the populace inclining toward online shopping.
Global Denim Market Report Coverage
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Report Metric
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Details
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Historical Period
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2018 - 2023
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Base Year Considered
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2024
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Forecast Period
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2025 - 2030
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Market Size in 2023
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U.S.D. 78.4 Billion
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Revenue Forecast in 2030
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U.S.D. 102 Billion
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Growth Rate
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6.8%
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Segments Covered in the Report
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By Product, By Segment and By Consumer Type
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Report Scope
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Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling
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Regions Covered in the Report
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North America, Europe, Asia-Pacific, Middle East, and Rest of the World
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Industry Dynamics
Growth Drivers
The primary factors driving the growth of the global denim market are:
• Growing westernization
• Transformation of the Asian retail clothing industry
• Rising disposable income
• Rising e-commerce industry
The Asian retail clothing industry has seen incredible growth in recent years. The increasing technology developments, changing demographics, and increasing foreign direct investments (FDIs) have been the driving factors for the clothing industry in the region. Moreover, relaxation in export/import laws from the government for international players has boosted the inflow and outflow of fabrics and other clothing-related accessories to a great extent. This also includes the increased sale of denim-based products in the last few years.
Consumers in the region are also not behind in spending lavishly on necessities and luxuries. While luxury retail is witnessing a good growth period in India, the market for denim-based products is also booming with the rise in overall disposable income and greater affordability of premium denim brands, such as H&M and Zara. Also, India currently the fourth fastest-growing luxury retailing market in Asia-Pacific is witnessing the sales and adoption of denim to a whole new level. This includes customer-specific advertising of denim by famous personalities and huge discounts offered through digital marketing and e-commerce.
Challenges
The growing popularity of low-cost knitted wear is probably the greatest obstacle confronting denim producers.
Opportunities
• Strong growth opportunity in the Chinese market
• Growth in recycled denim from plastic and other materials
• Government initiatives to boost AI-related technologies
Geographic Overview
Geographically, North America is the largest revenue contributor in the denim market. The growing demand for superior-quality clothing, rising disposable income, and increasing promotion of denimwear by celebrities are the key factors driving the growth of the market in the region. The U.S. tops the list for the largest sales of denim by country, however, the fastest growth in the market is expected from Pakistan. Asia-Pacific is expected to be the fastest-growing market for denim during the forecast period.
Competitive Insight
Key players operating in the global denim market include Levi Strauss & Co., The Gap Inc., VF Corporation, H & M Hennes & Mauritz AB, PVH Corp., Kering, Pepe Jeans, S.L., Bestseller A/S, and U.S. Polo Assn.
Forecast Parameters
• Identifying variables and establishing market impact.
• Establishing market trends regionally.
• Analyzing opportunities and market penetration rates by understanding product commercialization, and regional expansion.
• Analyzing demand and supply trends and changes in industry dynamics to establish future growth.
• Analyzing sustainability strategies adhered to by market participants in an attempt to determine the future course of the market.
• Analyzing historical market trends and super-imposing them on the current and future variables to determine year-on-year trends.
• Understanding adoption, development, distribution, and regulatory framework.
Data Validation
• Estimated and forecasted data was validated through industry experts.
• Apart from industry experts, data triangulation methods were used for validation.
• Bottom-up and top-down approach has been used for the estimation and forecast of market data, whereas the top-down approach was used for validation.
• Demand, as well as supply-side surveys, were conducted in order to understand the industry dynamics and data validation.
Research Phases
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Primary Research
VynZ Research conducts extensive primary research to understand the market dynamics, validate market data, and have key opinions from industry experts. The key profiles approached within the industry include CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads, and Others. Also, end-user surveys comprising consumers are also conducted to understand consumer behavior.
The Denim Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.
- By Product
- Jeans
- Jackets & Shirts
- Dresses
- Others
- By Segment
- Mass Market
- Standard
- Premium
- By Consumer Type
- By Distribution Channel
- Specialty Stores
- Department Stores
- Online
- Hypermarkets & Supermarkets
- Exclusive Stores
Region Covered in the Report
- North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific (APAC)
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Rest of the World (RoW)
- Brazil
- Saudi Arabia
- South Africa
- U.A.E.
- Other Countries
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Source: VynZ Research
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Source: VynZ Research
