Report ID:
SQMIG45E2261 |
Region:
Global |
Published Date: November, 2024
Pages:
203
|Tables:
0
|Figures:
0
Global Denim Fabric Market size was valued at USD 19.72 Billion in 2022 poised to grow from USD 20.59 Billion in 2023 to USD 27.83 Billion by 2031, growing at a CAGR of 4.40% in the forecast period (2024-2031).
In the whole textile value chain of many nations, including China, India, Bangladesh, Brazil, Italy, and others, the production of denim fabric is frequently seen as an industry that is constantly expanding. As cotton is readily available and denim is in high demand, the industry is expanding at a robust compound annual growth rate (CAGR) across the majority of the world's economies. Additionally, the competition is being fuelled by new manufacturers joining the global denim fabric market. As a result, denim fabric might become more reasonably priced. In the upcoming years, this element is anticipated to propel the denim fabric market's expansion.
Additionally, unbranded denim manufacturers are responsible for a significant portion of the usage of denim fabric. This might also provide the market for denim fabric with another boost in growth. Nonetheless, one of the main raw materials used to make denim fabric has been and still is cotton. However, due to several reasons, including bad weather, a decline in cotton production, the end of Chinese stockpiling, a drop in oil costs, and others, cotton prices are constantly fluctuating. Additionally, while China and India together produce half of the world's cotton, a significant amount is used by domestic cotton production before the remaining fraction is exported, with American cotton accounting for around 38% of the global export market.
Global Market Size
Largest Segment
Fastest Growth
Growth Rate
CAGR
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The Global Denim Fabric Market is segmented based on Raw Material, Fabric Type, End-use, And Region. In terms of Raw Materials, the market is grouped into Cotton, Spandex, Polyester, And Others. Based on Fabric Type, the market is grouped into Raw, Sanforized, Crushed, Stretch, Selvedge, And Others. Based on the End-use, the market is grouped into Clothing & Apparel, Decor & Homeware, And Accessories. Based on Region, the market is segmented into North America, Europe, Asia-Pacific, Central & South America and Middle East & Africa.
Analysis by Raw Material
As per categorization by raw material, the market is classified as cotton, spandex, polyester, and others. Among these, cotton earned the largest share and continues to dominate the market. Innovation in the global denim fabric market is driven by sustainable practices, with cotton remaining the dominant raw material due to its versatility, breathability, and durability. The advancements in cotton blends as well as methods of production that are not harmful to the environment are responsible for the improvement of the quality of cotton. This ensures that cotton plays an important role in the satisfaction of the consumer need for sustainable fashion.
Polyester is poised to become the fastest growing segment in the global denim fabric market on account of being the cheapest, strongest and most versatile raw material used in recent times. As technology advanced, manufacturers improved on high-end uses of the textile by offering better quality polyester blends with increased stretchability, wrinkle free, and moisture wicking characteristics. Furthermore, the trend towards cheap yet trendy denim wear among consumers plays a role in the use of polyester as it enables plays with textures and designs. This trend towards using sustainable materials further adds advantage to polyester as in this industry it is recyclable and can be referred to as a green product.
Analysis by Fabric Type
The global denim market is currently witnessing innovations in raw fabric types through the production of sustainable materials like organic cotton and re-cycled content, hence being the dominating segment. Raw fabric types are preferred in production due to their long-lasting properties, versatility, trending consumer tastes, and therefore their use in making eco-friendly and stylish denim is unavoidable.
Sanforized fabric, being the fastest growing segment, is anticipated to be on the high end of all other segments within the global denim fabric market owing to its ability to control shrinkage and improved durability. This is due to the tendencies of individuals shift towards wanting high quality and long-lasting products, so long-lasting denim can be for example used and worn, washed several times, and still retained its shape and look. Moreover, the increasing requirement for customized and perfect fitting wear among the style conscious customers also facilitates the use of Sanforized denim. This process, at the same time, advocates green measures as it reduces the amount of waste that would have been created from shrinkage, thus making it favorable to both manufacturers and consumers.
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Due to its strong manufacturing setup, inexpensive production, and an increasing number of users, the Asia Pacific region is taking over the global denim fabric market. Nations such as China, India, and Bangladesh have become major manufacturers in denim production due to cheap labor and easy access to raw materials. Young urban men and women consume high-end denim, motivated by increasing disposable incomes, and it is this urbanization that is causing the demand. Additionally, the adoption of sustainable practices and innovations in fabric technology are enhancing the competitiveness of Asia Pacific manufacturers. This combination of factors positions the region as a powerhouse in the global denim fabric market.
As the domestic production bounces back and consumers’ inclination for high end, organic denim increases, North America’s denim fabric market is likely to be the fastest growing region in the world, denoting the consumer trends in this region. The region's ethic of eco-friendly practices and newer fabric technologies appeals to such consumers, hence the growth in sustainable denim. Furthermore, the expansion of e-commerce sites and DTC brands has also made it easier to access a variety of denim ranges and fashions. Gracing the denim market in North America, the enhanced spending of the fashion-centric millennials and Gen Z consumers who cherish distinct designs and eco-friendliness helped in creating a red ocean designed for growth in the next few years.
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Drivers
Growing Demand for Sustainable Fashion
Innovations in Fabric Technology
Restraints
Environmental Regulations
Changing Consumer Preferences
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The global denim fabric market is highly competitive with many players both existing and new competing for innovation and sustainable solutions. Key global companies include Levi Strauss & Co., Wrangler (a part of Kontoor Brands), and H&M Group, which have undertaken various eco-friendly initiatives in the production of denim. Augusta National, Cristobal, and Isko of Turkey are other key players in the denim industry. These denim producers are also adopting modern technologies and sustainable strategies in product optimization to cope with trends in consumer behavior and competitors in the market.
Top Player’s Company Profiles
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, in conclusion, the global denim fabric market is poised for robust growth, driven by increasing consumer demand for sustainable fashion and advancements in fabric technology. Key players are innovating to enhance product quality while maintaining eco-friendly practices, ensuring cotton remains a dominant raw material.
The ongoing changes in the industry’s competitive matrix include the entry of more manufacturers and the activities of several unbranded denim makers. In addition, the regional findings indicate that the Asia-Pacific region is the largest while North America is experiencing fast growth especially with the current shift towards sustainability and consumer demand. With all these aspects coming together, it is apparent that the denim fabric market will flourish in the years to come.
Report Metric | Details |
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Market size value in 2022 | USD 19.72 Billion |
Market size value in 2031 | USD 27.83 Billion |
Growth Rate | 4.40% |
Base year | 2023 |
Forecast period | (2024-2031) |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Denim Fabric Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Denim Fabric Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Denim Fabric Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Denim Fabric Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG45E2261
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