From 2019 to 2025, the market for denim jeans is projected to increase at a compound annual growth rate (CAGR) of 6.81%, from a 2018 market value of USD 64.62 billion. Global target population growth and rising consumer disposable income, particularly in emerging nations like China and India, are anticipated to be among the main market growth drivers.
The influence of social media platforms is also anticipated to propel industry expansion. Additionally, the development of the denim jeans market is going to be significantly impacted by the expanding apparel market around the world brought on by the introduction of premium and branded products. To increase their sales, major manufacturers have used a variety of business methods, including regional and capacity development, M&A, and R&D.
In turn, this will fuel the expansion of the global market. In 2018, North America dominated the regional market, and from 2019 to 2025, it is expected to continue to grow at a consistent CAGR. However, during the projection years, Asia Pacific is anticipated to have the highest CAGR.
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In 2018, the men’s end-user sector held a market share of more than 55%. Due to rising living standards and the need for trendy fashion clothing, the category will continue to hold the top spot during the forecasted years. Products like patched and studded jeans are becoming more popular among males who wear clothing.
Over the next years, North America is expected to hold the greatest market share. Due to an increase in the revenue from retail sales in the apparel industry, it will continue to hold a leading position during the projected period. Additionally, the expansion of the women’s clothing industry in the area is boosting the market.
Key Organizations & Market Share Information
The market is extremely competitive, as evidenced by the efforts made by leading corporations to capture the largest possible proportion of the market, including capacity growth, acquisition, merger, and product and technological advances.
The following are a few of the leading companies in the denim jeans market:
- Esprit Holdings
- Levi Strauss & Co.
- VF Corp.
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- North America
- The U.S.
- Asia Pacific
- Latin America
- Middle East and Africa