Report ID: SQMIG25K2070 | Region: Global | Published Date: September, 2022 | Pages: 157 | Tables: 66 | Figures: 75Global Smart Glass Market
Report ID: SQSG25K2018 | Region: Global | Published Date: September, 2022 | Pages: 157 | Tables: 62 | Figures: 75
Global Denim Jeans Market size was valued at USD 70.71 billion in 2021 and is poised to grow from USD 75.09 billion in 2022 to USD 129.04 billion by 2030, growing at a CAGR of 6.2% in the forecast period (2023-2030).
Growing interest towards a casual look, comfort, simplicity of wear, and durability is fueling the sales of the denim jeans across the globe. The continuously growing fondness for denim apparel among the young generation due to the attractive and modern designs of denim jeans is also expected to be the key driving factor of the global denim jeans market over the forecast period.
According to our findings, Bangladesh is the top denim exporter across the globe, with an export of denim products worth USD 689.69 million to the European Union during the period of January to June 2022. Similarly, in the U.S. Bangladesh exported denim products worth around USD 445 million in the first half, with an increase of over 57% from last year.
Additionally, jeans are also becoming ideal for various types of occasion and functions, apart from casual wear, including formal attire as work wear. All these factors are together creating demand and also generating a renewed interest in the category. In addition, growing penetration of casual and denim wear in the workplace, couple with the increasing employment of the youth have been auguring well for the global denim jeans market during the forecast period.
US Denim Jeans Market is poised to grow at a sustainable CAGR for the next forecast year.
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Denim Jeans Market is segmented on the basis of distribution channel, end-user, and region as well. By distribution channel, the Denim Jeans Market is segmented on the basis of supermarkets, apparel stores, and online channels. By end-user, the Denim Jeans Market is categorized into men and women. By region, the Denim Jeans Market is divided into North America, Europe, Asia Pacific, Latin America, and MEA.
Denim Jeans Market Analysis by Distribution Channel
By distribution channel, offline sales channels such as supermarkets and apparel stores held the largest market share of more than 80% in 2021. An increase in the number of specialty brand stores and fashion stores has supported significantly to the growth of the segment in the recent years. Moreover, ease of access, high quality products, and availability of cost effective are some major features of offline channel which are also expected to drive the market over the forecast period.
Furthermore, the online segment is expected to grow fastest with a healthy CAGR during the forecast period. Due to the extensive rise in e-commerce websites and the rising popularity of online shopping through several websites like Amazon and Flipkart, the denim jeans market is anticipated to have a positive impact in the coming years. Surge in popularity of online channels because of the features such as discounted price, wide range of product availability, cash on delivery, and easy returns is driving the consumers towards online shopping.
Denim Jeans Market Analysis by End-User
By end-user, the women segment dominated the denim jeans market accounted for 3/5 of the market share and is expected to grow at a CAGR of 3.4% during the forecast period. Increasing women workforce and their increased per capita income across the globe are the key factors driving the market growth and expenditure on apparels throughout the forecast period. According to our findings, more than 34% sales of denim jeans are to women consumers, and men and children combined to hold around 41% sales of the market with a total number of sales more than 1.2 billion pairs every year.
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North America dominated the global market with a significant market share and is expected to maintain its dominance throughout the forecast period owing to rise in the women’s wear industry and rapid expansion in the revenue of retail sales in the apparel sector during the forecast period in the region. For instance, in 2021, US apparel retail sales revenue was around USD 264 billion, noting a significant increase of more than 36% from the year 2020. Importantly, the growth continues in the year 2022, on YTD basis, the apparel retail sales haven surged by over 13% in the period of January to April. This continuous growth in the sales revenue is expected to impact global denim jeans market positively.
Moreover, Asia Pacific is expected to be the fastest growing region in the global denim jeans market over the forecast period. The denim jeans industry has seen a significant growth in the countries like India and China, as shoppers focus on the product quality, comfort and style. These developing countries has a huge number of young generation people, for example in India, about 65% of people are below 35 years of age, which stimulates the jeans market due to the exposure of latest denim jeans collection by design and quality. In addition, increasing number of international brands retail stores and specialty stores in the region is a key factor boosting the market growth.
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Denim Jeans Market Drivers
Denim Jeans Market Restraint
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The global denim jeans market is highly competitive, with a strong presence of several global and local players operating globally. Thus, the key players continuously bring innovation in their product portfolio to cater to changing consumers and to sustain their position in the market. Major players are now focusing on online advertisements for the branding of their products to attract more customers by social media and online distribution channels.
Top Players in the Global Denim Jeans Market
Denim Jeans Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the global denim jeans market is witnessing a strong growth during the forecast period owing to change in consumer lifestyles, increased disposal income, attractive designs of products, and high product quality. In addition, several major companies are expanding their on-ground presence in the emerging nations such as India, Brazil, Indonesia, and China are expected to be a key factor for the market growth over the forecast period. However, changing consumer lifestyle to aesthetic wear and towards yoga is a factor expected to have negative impact on the global denim jeans market in the near future.
|Market size value in 2021||USD 70.71 billion|
|Market size value in 2030||USD 75.09 billion|
|Forecast Unit (Value)||USD Billion|
|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)|
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Parent Market Analysis
KEY MARKET INSIGHTS
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For the Global Denim Jeans 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 Global Denim Jeans 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.
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Product ID: SQSG25K2018