The Global Denim Market is projected to garner USD 128,643.1 million during the forecast period (2018-2023). The global market is anticipated to experience 4.60% CAGR owing to the growing preference of denim apparel among the youth, asserts Market Research Future (MRFR). Denim is referred to as a rugged cotton twill textile or a fabric which is used to prepare products such as shirts, jeans, bags, jackets, and other accessories. Evolved from the demand of American gold-miners in order to withstand the work stress, has gained huge acceptance especially among the youth population. The first denim manufactured was in the year 1873 by Levi Strauss and Jacob Davis. Today denim is a fashionable and important item in every wardrobe and has become one of the most lucrative businesses across the globe.
Denim market has gained huge acceptance in the fashion industry across the globe. With youth becoming extremely fashion conscious, the spending on branded denims have increased. The increasing preference for denim apparel among the youth is one of the major drivers for the market growth. Also, the augmenting per capita income among the youth is supporting the market to a great extent. Denims are largely preferred due to its durability, comfortable nature, and low maintenance. They are available in formal as well as casual wear, and a wide variety of shades. Such factors have highly influenced the market growth during the assessment period. The growth of e-commerce and organized retail sector has further contributed to the growth of the market. With the growth of several retail chains such as specialty stores, supermarkets, and hypermarkets, the denim market is anticipated to flourish during the estimated period. Development of retail sectors is taking place in tier-2 and tier-3 cities besides major cities, which has further accelerated the reach of denim products. Additionally, with the growing number of shopping malls and availability of denim products through e-commerce have further increased the sales of the market across the globe.
Request a FREE Sample Copy @ https://www.marketresearchfuture.com/sample_request/7135
Segmental Analysis
The global denim market has been segmented on the basis of type, consumer group, distribution channel, and region.
By mode of type, the global denim market has been segmented into loose fit, slim fit, and others. Loose fit denims account for 34.8% of the market share and is estimated to expand at a moderate rate owing to the texture and comfort it offers. The slim fit denims are considered to retain its dominance during the estimated period owing to the rising preference of the consumers towards skinny fit apparels. The others segment comprises joggers, straight fit, cropped jeans, high waisted jeans, baggy jeans, boot cut, and others. This segment is likely to expand at 4.46% CAGR during the appraisal period.
By mode of consumer group, the global denim market has been segmented into male and female. Among these, the female segment is considered to hold the major market proportion as women consumers follow the style ideas and develop fashion inspirations from social media and magazines. The demand for luxury and premium denim is accelerating at a high pace over normal denim among the female population due to the increasing per capita disposable income. The segment is expected to be worth USD 70,602.3 million by 2023.
By mode of distribution channel, the global denim market has been segmented into store-based and non-store-based. The non-store channel is expected to experience a robust CAGR of 5.30% over the forecast period and net higher profit margins for the denim market.
Access Report Details @ https://www.marketresearchfuture.com/reports/denim-market-7135
Regional Insights
Geographically, the denim market has been studied under four major regions, namely, Europe, Asia Pacific, North America, and Rest-of-the-World (RoW).
The Asia Pacific region is considered to be a lucrative region among denim manufacturers across the globe and is predicted to register 5.11% CAGR from 2018 to 2023. With the rising middle-class income population coupled with mass urbanization, the market in this region is considered to flourish. Moreover, the rising per capita disposable income of the consumers have resulted in the increasing sales of denims in this region.
Competitive Dashboard
The prominent players operating the global denim market are PVH Corp. (U.S.), Inditex (Spain), Hennes & Mauritz AB (Sweden), Levi Strauss & Co. (U.S.), VF Corporation (U.S.), American Eagle Outfitters, Inc. (U.S.), Gildan Activewear, Inc. (Canada), AG Adriano Goldschmied, Inc. (U.S.), Uniqlo Co. Ltd (Japan), Citizen of Humanity LLC (U.S.).
