From the period of 2022 to 2028, the Global Denim Market is expected to reach USD 161.3 Million in terms of revenue, growing at a Compound Annual Growth Rate (CAGR) of 4.5%.
The market's sales are being fueled by the increased preference in a more casual look. Factors driving growth in the global market for Denim jeans include an increase in the number of women entering the workforce, growing urbanisation, westernisation of lifestyles in emerging nations, and rising fashion consciousness. The popularity of colourful denims and the introduction of innovative styles has broadened the range of products available in this category. Apart from casual wear, jeans are also considered excellent for a variety of special occasions, including formal dress for business. All of these reasons are boosting growth and reinvigorating interest in the sector. The worldwide Denim apparels market has been doing well as casual wear has become more prevalent in the workplace and the young generation has become more employed. The premium Denim jeans segment's expansion is also propelling the market forward. The rise of the jeans market is being fueled by aggressive promotions of innovatively styled Denim clothing.
Key Highlights from the Report
- On the basis of Type, the market is segmented into Light Denim, Medium Denim, and Heavy Denim. Light Denim is a type of Denim with a low thread count that generates a lightweight, breathable fabric. Polyester, rayon, and viscose are popular cotton-synthetic fibres used to create their texture. Medium Denim is a Denim weight that falls in between light and heavy. It's a little thicker than light denim, but not quite as thick as thick denim. It's most often linked with jeans, although it also appears on jackets and shirts. Heavy Denim is Denim that has been dyed with indigo and other dyeing pigments to obtain dark, subdued tones. The dark colour gives it a stiff feel at first, but it softens and becomes more flexible and comfortable to use after washing.
- On the basis of Application, the market is segmented Jeans, Shirt, Jacket and others. The global market for Denim is led by jeans, which is likely to maintain its lead during the forecast period. Jeans are the most common application for denim. This is owing to its long-lasting nature and large range of weights, styles, and colours. Because it can sustain high temperatures without burning, firefighters use it when wearing heat-resistant clothes when putting out flames. This material is very popular for jeans because it lasts a long time.
- Asia Pacific is the fastest-growing region in Global Denim Market. In China and India, the jeans sector has seen substantial expansion as consumers place a premium on quality and style when shopping for clothing. India has a large young population, with roughly 65 percent of the population under the age of 35, which promotes the jeans industry by exposing them to the latest jeans collections in terms of design and quality. New and more comfortable materials, low price, and inclusive sizes offered by local and international brands have all contributed to denim's revival in India. Denim companies are pushing the envelope in terms of washes, colours, fits, and even vintage designs and styles. Mergers and acquisitions are one of the fundamental tactics being pursued by the major businesses to achieve consolidation and maximise their offers in Asian countries.
Use of social media with a High Level of Advertising Expenditure
Because gasoline is a fossil fuel, it is a nonrenewable energy source that will deplete over time. To enable long-term development, alternative fuel sources must be developed and deployed. This necessitates the use of electric vehicles, which do not require the use of gasoline and are less expensive than traditional autos. Electric vehicles have a number of benefits, including lower fuel consumption (petrol, diesel, and gas) and lower exhaust emissions, which are driving increased demand around the world. During the projection period, this is likely to increase the need for on-board chargers in electric or plug-in hybrid vehicles. In addition, leading players in the on-board charger market, which is necessary for electric vehicles, are pursuing a variety of strategic initiatives, such as product development and collaboration, in order to maximize commercial opportunities.
Growth in the fashion industry, accompanied by rapid urbanization worldwide
In emerging and developed nations, changing customer lifestyles and a large increase in female predilection for Denim kinds have contributed to increased product demand. Consumer tastes for frayed, cropped, slim, patched jeans have shifted as a result of substantial brand promotions on various online media platforms, particularly among the younger population.
With a market share of 38.40 percent in 2021, Asia Pacific is expected to gain the most market share. China, India, South Korea, Brazil, Mexico, Turkey, the United Arab Emirates, and Saudi Arabia, among others, are likely to account for a significant portion of future Denim jeans increase. Due to reasons such as the influence of westernisation and urbanisation, the increase in the number of women joining the workforce, and growing fashion consciousness among customers, the Global Denim jeans market is expected to grow.