LONDON, November 30, 2018 /PRNewswire/ --
The world jeans retail market will hit US$60.09bn by 2023 - or 2,112m pairs of jeans - by 2023, according to a new report by apparel sourcing publisher just-style.com.
The new report, "Global market review of denim and jeanswear - forecasts to 2023" predicts growth of 4.9% over the next five years from US$57.30bn in 2018, with the USA forecast to remain the largest jeans market and China the second largest market.
However, the fastest growing markets will lie outside the old developed world, with South America set for 12.1% growth and the Rest of the World (all markets excluding North America, Europe, Turkey, Asia and South America) increasing in value by 19.7% during the period.
One major shift identified in the report is nearly half of China's jeans production now remains in the country instead of being exported - a huge increase on the figures just five years before. In addition, just-style estimates that around 22% of the jeans manufactured are traded outside the traditional retail markets in exchange for goods or services rather than currency.
According to the report's author "we are finally over the four decades (1970s to 2000s) of branded attempts to follow new trends" and today's consumer can choose the jeans style to suit them without "being out of step with fashion."
In addition to a jeans market forecast, the report also evaluates the trends likely to affect the market over the next five years, and the technological, CSR, industrial and supply chain issues that are likely to have a material effect on the direction of the jeans category in the same period.
The report also contains a list of some of the major jeans manufacturers in the major producing countries, and an evaluation of the price and fashion positioning of the major brands in three core garment segments; the 5 pocket straight leg men's western jean, the women's skinny jean and the women's flare jean.
The report is now available from just-style's market research web store.
just-style.com is the site run for apparel sourcing people. Our mission is to connect the dots on global apparel supply chain issues, and in doing so, help those in sourcing to build strategies for the future. just-style is published by Aroq Limited, the business to business online publisher.
For further information please contact James Lawley at Aroq Limited on +44-(0)-1527-573-606, or e-mail [email protected].