As per an Allied Market Research study, global denim fabric market is growing at 4.4 per cent. So says Allied Market Research. Availability of denim fabric at affordable prices and new socio-economic trends drive growth of the global denim fabric market. The emergence of biodegradable denim fabric presents new opportunities in the upcoming years.
At the same time, volatility in prices of cotton and environmental risks associated with the use of synthetic dyes restrain the market to some extent. The outbreak of the pandemic led to a global lockdown and the temporary closure of fabric production facilities, thereby affecting the overall growth of the global denim fabric market. It further disrupted the whole supply chain, leading to a rise in prices of raw materials, especially cotton and cotton yarn. This factor decreased the production of denim fabric, especially during the initial phase. In addition, the falling income of customers gave way to a contraction in the demand for premium denim products.
APAC contributed to the highest share in terms of revenue in 2020, holding nearly four-fifths of the total market share, and is estimated to continue its dominant share by 2030. The same region is also projected to manifest the fastest CAGR of 4.6 per cent during the forecast period.