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The growth of the worldwide denim market

"Even as joggers and leggings have emerged as the top fashion bottom worldwide, the classic appeal of jeans along with new styles continues to attract consumers. A top reason for this is the addition of stretch to both men’s and women’s jeans. And Marshal Cohen, Chief Industry Advisor, NPD Group credits stretch with boosting the sales of women’s denim by 5 per cent to $16.4 billion in the year ending July 2018. Between 2011 and 2017, the percentage of denim jeans that contained stretch in the US increased from 44 to 75 per cent, according to Cotton Incorporated’s Retail and Lifestyle Monitor™ surveys. In China, the percentage increased from 26 to 56 per cent."

 

The growth of the worldwide denim market 002Even as joggers and leggings have emerged as the top fashion bottom worldwide, the classic appeal of jeans along with new styles continues to attract consumers. A top reason for this is the addition of stretch to both men’s and women’s jeans. And Marshal Cohen, Chief Industry Advisor, NPD Group credits stretch with boosting the sales of women’s denim by 5 per cent to $16.4 billion in the year ending July 2018. Between 2011 and 2017, the percentage of denim jeans that contained stretch in the US increased from 44 to 75 per cent, according to Cotton Incorporated’s Retail and Lifestyle Monitor™ surveys. In China, the percentage increased from 26 to 56 per cent.

Robust growth expected for the denim market

As per a global market review published by Just-Style, the world market for denim jeans grew at an impressive 8.9 per cent between 2013 and 2018. It is expected to reach nearly $60 billion by 2023. United States ($20.1 billion) and Europe ($19.75 billion) account for 69 per cent of the world’s total value share in jeanswear, even though the population of these two continents represents less than 15 percent of the world’s total. While North America and Europe dominate the global denim market, the fastest growth is expected to come from Asia, South America, and Africa.

As per Monitor™ research, and CCI and Cotton Incorporated’s Global Lifestyle Monitor™ Survey, almost 77 per cent of Latin Americans prefer wearing jeans. This figure decreases slightly to 65 per cent in China and further to 55 per cent in the US.

Denim at all times for Mexican and US consumers

Monitor™ research indicates the US citizens prefer wearing jeans for running errands, at school, while going out to dinner, doing yard work, hanging out at home, on a date and also to work. While Chinese consumers prefer them when going to dinner and running errands followed by work.

In Mexico, denim is the preferred bottomwear for work, running errands, going out to dine, looking stylish or fashionable and hanging out at home (22 per cent). The Mexican consumer owns more pairs of jeans than US and Chinese. Mexican consumers also wear their denim more often than those in the US and China.

Growing demand for performance features

CCI and Cotton Incorporated’s Chinese Consumer Survey indicates that the Chinese prefer jeans that are made from 100 perThe growth of the worldwide denim market 001 cent cotton, having performance features , are moisture wicking, have extra stretch, are able to be wash less, and are created more sustainably. On the other hand, US consumers would be willing to pay more for denim jeans that fit them perfectly, are higher quality/last longer (79 per cent), are custom made to their fit and style (70 per cent) and kept their shape all day long (69 per cent), according to Monitor™ research.

While denim makers have started adding stretch, there are other athleisure-inspired features that can give their denim even more appeal. For instance, 64 per cent consumers are interested in moisture management in their clothing. Yet, moisture management is only available in 9 per cent clothing, according to Cotton Incorporated’s Retail and Lifestyle Monitor™ studies. Additionally, 61 per cent are interested in thermal regulation, yet it has just 2 per cent retail availability.

Indeed denim can evolve to meet customer desires and expectations, now it’s time for brands to rise to the challenge.

 
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