MCP-6234: DENIM JEANS – A GLOBAL STRATEGIC BUSINESS REPORT
January 10, 2017 - Acceptance of Jeans as Business Casual Attire to Amplify Demand Growth in the Global Denim Jeans Market, According to a New Report by Global Industry Analysts, Inc.
GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Denim Jeans markets. The global market for Denim Jeans is forecast to reach US$79.2 billion by 2022, driven by the expanding urban population; increase in white-collar employees, changing perceptions about "executive wear” and the resulting acceptance of jeans as business casual attire for men and growing base of women in the workforce.
Denim is the world’s favorite fashion fabric which through the ages underwent sea changes. From being originally designed for cowboys, miners and factory workers, to being a symbol of youthful rebellion, to being a staple in western closets to finally becoming the world’s best loved clothing, denim jeans continues to rule the fashion world. The diverse denim jeans market offers wide-ranging styles to new age customers, from bell-bottoms and classic boot-cuts to ‘mom’ and ‘boyfriend’ jeans. Denim trousers are found in most wardrobes, and most women own more than one and up to ten varieties of cuts and washes. Denim sales based on styles and fits are heavily dependent on street fashion and celebrity fashion trends. In terms of style alone, denim jeans are expected to forever remain the most dominant apparel within the global casual clothing segment. Denim garments’ ownership is highest in the U.S., Colombia, Mexico and other South American nations, and lowest in India, Japan and other Asian markets. The denim jeans market is primarily categorized into high-end/premium, mass market and economy/standard, with high-end premium jeans accounting for a 55%, of the market. The market is dominated by women who showcase a keen interest to adopt latest fashion and trends in clothing.
Other factors driving growth in the market include opening up of markets which traditionally resisted the jeans culture; and continued innovation in design such as digitally printed jeans, vegan fabrics and sophisticated weaves, and technology innovation in stretch and performance, and fiber blends. Growing westernization and urbanization, rising fashion consciousness, coupled with growing affluence of the middle-class population are anticipated to further propel the demand for denim jeans over the coming years. Another key trend in the market is the proliferation of denim jeans in the corporate world as an accepted executive wear. A key reason cited for the trend is the fluid and creative business environment in modern offices where working and socializing are rapidly converging creating an interesting phenomenon called [“bleisure”]. Blue jeans in the boardroom are also gaining prominence with jeans becoming the new symbol of power dressing expressive of valuable executive qualities such as confidence and innovativeness.
As stated by the new market research report on Denim Jeans, the United States represents the single largest market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 7.1% over the analysis period, led by China, which features among the world’s largest cotton growers and a leading denim weaver and jeans manufacturer. Other factors driving growth in the region is growing urban population, rising standards of living, increasing disposable incomes, preference for high-end and premium designer labels among the expanding base of affluent middle class population, globalization, changing cultural norms and breakdown of cultural imperialism all which lay the foundation for the acceptance of jeans. Fast-fashion brands like Zara and H&M are aggressively expanding into the Asia Pacific region, which is strengthening the demand for standard jeans.
Key players covered in the report include 7 For All Mankind, Aarvee Denims & Exports Ltd., Arvind Ltd., Black Peony (Group) Co., Ltd., Diesel S.p.A, Edwin Co. Ltd., Gap Inc., Lee Jeans, Levi Strauss & Co., Mavi Jeans, Nien Hsing Textile Co. Ltd., Orta Anadolu, Raymond Group, and True Religion Apparel Inc., among others.
The research report titled “Denim Jeans: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections in value terms for historic (2009-2014) and recent past, current and future (2015-2022) periods for all major markets of Denim Jeans including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World. The report also analyzes sales of denim jeans in terms of volume for the global market.
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