As per a new report ‘Global Market Review of Denim and Jeanswear’ by apparel sourcing publisher just-style, the global jeans market will be worth $60 billion by 2023. The report predicts a growth of 4.9 per cent over the next five years from $57 billion in 2018, with the US set to remain the largest jeans market, with China the second largest.

The fastest growing markets are predicted to be South America, with 12.1 per cent growth, and the Rest of the World (all markets excluding North America, Europe, Turkey, Asia and South America), with 19.7 per cent growth. The report also identified a major shift in China’s market, with nearly half of the country’s jeans production now remaining in the country instead of being exported. The study estimates that around 22 per cent of manufactured jeans are now traded outside the traditional retail markets in exchange for goods or services rather than currency.