Denim Jeans Market to Grow by USD 23.86 Billion from 2024-2028, Fueled by Expanding Retail Space, Report Highlights AI’s Influence on Market Trends – Technavio

NEW YORK, Aug. 27, 2024 /PRNewswire/ — Report on how AI is redefining market landscape- The global denim jeans market  size is estimated to grow by USD 23.86 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 6.64%  during the forecast period.  Expanding retail space is driving market growth, with a trend towards recycling jeans from plastic and other materials. However, fierce competition in apparel industry  poses a challenge. Key market players include AG Adriano Goldschmied Inc., American Eagle Outfitters Inc., ASOS Plc, BESTSELLER AS, Dolce and Gabbana S.r.l., EDWIN Europe GmbH, Esprit Holdings Ltd., G Star Raw eStore BV, Giorgio Armani S.p.A., Guess Inc., H and M Hennes and Mauritz GBC AB, Kering SA, Kontoor Brands Inc., Levi Strauss and Co., LVMH Moet Hennessy Louis Vuitton SE, Pepe Jeans SL, PVH Corp., Ralph Lauren Corp., Tapestry Inc., and The Gap Inc..

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Key Market Trends Fueling Growth

The denim jeans market is experiencing significant growth due to increasing global demand for apparel. However, this growth comes with environmental consequences, as denim production requires substantial resources such as water, chemicals, and energy. To mitigate these effects, denim manufacturers are focusing on recycling textile waste to produce new jeans. This process involves shredding waste into thin fibers, which are then used to create yarns. Moreover, innovation in denim manufacturing is driving the adoption of water-saving techniques, such as foam dyeing and laser finishing, and collaborations between industry players and research institutions are promoting sustainable practices. These efforts aim to reduce resource depletion and promote long-term growth in the denim jeans market. 

The denim jeans market is experiencing significant trends among baby boomers, with a growing demand for denim collections that cater to their size range and preferences. Loose-fitting clothes remain popular, especially among women, who make up a large portion of the population. With increasing standards of living and the impact of lockdowns, essential services, and clothing manufacturers have had to adapt. Raw materials like cotton have been in high demand for producing denim jeans, trousers, shirts, jackets, and other fashion clothing. Retailers have responded by expanding their offerings to include in-store purchases and online channels through e-commerce websites. Smartphone users and high internet penetration have also driven the shift towards online shopping. The men’s segment favors denim jeans as manual labor attire, while the women’s wear market prefers low-rise, curve, and straight-leg skinny jeans. Designs, patterns, colors, and fitting remain crucial factors, influenced by fashion influencers and a growing sense of fashion awareness. 

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Market Challenges

• The denim jeans market faces intense competition in the apparel industry, leading to a negative impact on denim jeans demand. Vibrant bottom wear like dresses, leggings, and athletic and yoga pants have taken over retail store shelves. Consumers increasingly prefer these alternatives due to their functional benefits. Furthermore, inconsistent denim quality issues, such as early fading, wear and tear, shrinkage, and odor, disappoint customers and hinder their willingness to pay full price. The market’s competitiveness among jeans and other apparel categories will continue to influence consumer choices during the forecast period.
• The denim jeans market is thriving, with cotton-based work clothes like jeans, shirts, and jackets remaining popular choices for both men and women. However, the industry faces challenges in keeping up with evolving designs, patterns, and colors. Fitting type and price point are crucial factors influencing consumer preferences. Fashion influencers and increasing awareness have led to a shift towards skinny fit, tapered fit, regular fit, athletic fit, and eco-friendly denim jeans. The standard of living and spending capacity also impact the market. Leading brands like Levi Strauss, Levi’s, Kontoor Brands, Wrangler, Lee, Spinoff, and Vans dominate the market. Exporters and importers play a significant role in the global denim jeans trade. The textile industry, particularly the denim fabric sector, is a key supplier. Offline channels continue to be a major sales avenue, but online sales are growing. Antimicrobial properties and sustainable denim are emerging trends. The Canatiba Denim Industry and others are investing in innovation to meet consumer demands.

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Segment Overview 

This denim jeans market report extensively covers market segmentation by

1. End-user 

• 1.1 Men
• 1.2 Women
• 1.3 Children

• 3.1 APAC
• 3.2 North America
• 3.3 Europe
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Men-  The denim jeans market is a significant sector in the global apparel industry. It consistently records high sales due to its versatility and timeless appeal. Consumers continue to purchase denim jeans for various occasions, making it a stable market. Brands innovate with different washes, fits, and styles to cater to diverse customer preferences. Denim jeans remain a wardrobe staple, ensuring consistent demand.

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Research Analysis

Denim jeans have been a staple in casual wardrobes for decades, with their durability and timeless style making them a must-have for many. Made primarily from cotton, denim jeans are also used for work clothes, shirts, and jackets. The denim fabric comes in various designs, patterns, and colors, allowing for a wide range of styles to suit different preferences. Fitting is an essential consideration, with waistband adjusters available for those who need them. Baby boomers and younger generations alike continue to embrace denim jeans as a versatile and comfortable addition to their wardrobe. As an exporter or importer, the denim jeans market offers numerous opportunities, with a size range to accommodate various body types and loose-fitting clothes gaining popularity. The textile industry continues to innovate, producing new denim collections and denim fabric technologies to meet the evolving needs and preferences of consumers.

Market Research Overview

Denim jeans have long been a staple in wardrobes around the world, beloved for their durability and versatility. Made primarily from cotton, denim jeans come in various designs, patterns, and colors, catering to different fitting types and preferences. The sense of fashion and standard of living influence the denim jeans market, with fashion influencers playing a significant role in driving trends. The market includes various fits like skinny, tapered, regular, athletic, and loose-fitting, catering to the spending capacity and size range of consumers. Eco-friendly denim jeans with antimicrobial properties are gaining popularity. The denim industry exports and imports denim fabric, with leading brands such as Levi’s, Wrangler, Lee, Spinoff, Vans, and others dominating the market. The denim jeans market caters to both men’s and women’s wear, with casual wear being a significant segment. The market includes offline and online channels, with clothing manufacturers, retailers, and raw material suppliers playing crucial roles. The denim jeans market has been impacted by lockdowns and essential services, leading to increased online purchases through e-commerce websites and smartphone users with high internet penetration.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• End-user
• Distribution Channel
• Geography
• APAC
• North America
• Europe
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

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SOURCE Technavio