Global Industry Analysts Predicts the World Denim Jeans Market to Reach $76.1 Billion by 2026

SAN FRANCISCO, March 1, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Denim Jeans - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Edition: 20; Released: February 2022
Executive Pool: 10228
Companies: 166 - Players covered include 7 For All Mankind; Aarvee Denims & Exports Ltd.; Arvind Limited; Black Peony (Group) Co., Ltd.; Diesel S.p.A; Edwin Co. Ltd.; Gap Inc.; Inditex; Levi Strauss & Co.; Mavi Jeans; Nien Hsing Textile Co. Ltd.; Orta Anadolu; Pepe Jeans London; Raymond Group and Others.
Coverage: All major geographies and key segments
Segments: Sales Channel (Offline, Online); End-Use (Men, Women, Children)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

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ABSTRACT-

Global Denim Jeans Market to Reach US$76.1 Billion by the Year 2026
Globally, the popularity of denim is growing. Denim jeans can be worn on various social and official occasions, and have also demonstrated their capability to transcend beyond age and gender barriers. The growing interest towards a casual look is fueling the sales in the market. Rising number of women joining workforce, rapid rates of urbanization, westernization of lifestyles in emerging economies, and rising fashion consciousness are factors propelling growth in the global market for denim jeans. Recent popularity of colored denims and launch of newer styles expanded the range of products that are available under this category. Additionally, jeans are also being considered ideal for various special occasions, apart from casual wear, including formal attire as work wear. All these factors are together buoying growth and also generating renewed interest in the category. Growing penetration of casual wear in the workplace, coupled with rising employment of the young generation have been auguring well for the global denim apparels market. The market is further propelled by the growth in the premium denim jeans segment. Aggressive promotions of innovatively styled denim garments are further driving growth in the jeans segment.

Amid the COVID-19 crisis, the global market for Denim Jeans estimated at US$64.5 Billion in the year 2022, is projected to reach a revised size of US$76.1 Billion by 2026, growing at a CAGR of 4.8% over the analysis period. Offline, one of the segments analyzed in the report, is projected to grow at a 3.7% CAGR to reach US$60.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Online segment is readjusted to a revised 9.2% CAGR for the next 7-year period. This segment currently accounts for a 17.7% share of the global Denim Jeans market. The popularity of online sales channels is driven by a growing number of consumers using the Internet to browse various websites and indulge in web based shopping. In addition, ability of online stores to offer less expensive products in comparison to physical formats of these stores, along with eliminating the requirement of dealing with queues and crowds is driving consumers towards online retail purchases. Offering a wide array of brands, speciality stores attract customers employing strategic marketing initiatives as well as merchandising.

The U.S. Market is Estimated at $15.8 Billion in 2022, While China is Forecast to Reach $15.5 Billion by 2026
The Denim Jeans market in the U.S. is estimated at US$15.8 Billion in the year 2022. The country currently accounts for a 24.6% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$15.5 Billion in the year 2026 trailing a CAGR of 7.2% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.6% and 4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3% CAGR while Rest of European market (as defined in the study) will reach US$4.6 Billion by the end of the analysis period. The US represents the biggest consumer of denim jeans worldwide and has the largest per capita consumer of jeans in the world. Increasing disposable income levels, higher fashion consciousness, and the shift towards casual dressing in the workplace are some of the major factors driving demand for denim jeans in these regions. A major portion of future growth in the denim jeans market is likely to emanate from developing nations such as China, India, South Korea, Brazil, Mexico, Turkey, the UAE and Saudi Arabia, among others. Factors such as influence of westernization and urbanization, increase in the number of women joining workforce and rising fashion consciousness among consumers are expected to propel growth in the global denim jeans market.

Innovation Keeps the Market Ticking
Innovation is very important in the premium segment of jeans market, and companies have to innovate regularly to stay ahead. Erosion of sales from cheaper counterfeits has pushed jeans manufacturers to introduce products that are technologically superior. New stretch technologies provide better flexibility and fabric comfort. Fabric properties such as breathability, tear-resistance and moisture resistance that are usually part of sportswear have now found space in denim wear. Aramid fibers are strong and heat resistant and are finding takers in the jeans market, particularly for rough sports. Hybrid fabric blends ensure that consumers have plenty to choose from. For instance, Jogg Jean from Diesel combines comfort of jersey with style of denim. Growing acceptance of casual attire at work spaces is also spurring demand for jeans. From a one day norm, casuals have evolved to become the preferred daily attire at work. Taking a cue from this, denim makers are increasingly designing jeans and accessories that are wearable to work. Premium labels appeal to a large section of shoppers worldwide. Customers are inclined to believe that high-end premium jeans add to their fashion aesthetics and social status. Some companies offer customizable jeans that allow customers to select fit, color and finish of their choice to suit any occasion.

Use of denim bottoms for formal work wear is growing. Brands are taking note of this development to offer a range of denims that can be used for office wear. Adoption of new technology is allowing companies to design denim products for activewear and athleisure segments. Online retailers offer big discounts and innumerable choice to shoppers, making it one of the most popular sales channels for denim jeans. Online shopping is expected to expand massively in the coming years and this is likely to spur growth in denim jeans market too. Stretch jeans are gaining maximum traction in the market. Bi-stretch fabric technology is replacing conventional stretch for better comfort and performance. Another noticeable trend is the use of advanced polyesters in denim manufacturing. Regular fit is an important category in denim jeans market and is expected to witness high revenue growth in the coming years. Slim fit, standard and premium categories are also expected to grow robustly. However, increasing penetration of yoga pants, athletic pants and leggings among women is expected to eat into denim bottom wear sales. Also use of thin and fine fabrics is expected to reduce the life of jeans, thereby impacting sales in the jeans market. More

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