Global denim jeans market is growing at a CAGR of 4.2 per cent. As per a report by Allied Market Research, titled, ‘Denim Jeans Market’, denim jeans market was valued at $56.2 billion in 2020 and is estimated to reach $88.1 billion by 2030, growing at a CAGR of 4.2 per cent from 2021 to 2030. The most recognizable fabric in the world is undoubtedly denim. No other type of fabric has attracted such widespread acclaim around the world. Consequently, the denim industry has been viewed as a lucrative alternative in the mass market.
The Asia-Pacific region is providing lucrative opportunities for growth, owing to a rise in disposable income in emerging economies such as China and India, which has significantly increased the spending capacity of people on clothing for personal grooming, thereby boosting the growth of the global denim jeans market. Factors such as a growing standard of living, introduction of denim jeans with antimicrobial properties, launch of eco-friendly denim jeans, surge in trend of wearing denim jeans in work stations, offices and special occasions, and per capita consumption of the denim jeans are contributing to the growth of the market in more than one way.
Key market players are focusing on product innovations with various designs, patterns, colors, and fitting. On top of that, several fashion influencers on social media and e-commerce platforms are helping the fashion industry to grow with a wide array of denim jeans types such as skinny, tapered, athletic, and regular fit.
