Denim is immensely popular across the world and has no rival. The popularity of denim material knows no bound. Leave alone the clothing, but denim accessories such as belts, bags, and shoes too perceive a vast demand. For some, denim is one of the most fashionable and a must-have wardrobe item, for some its sturdy working clothes, and some think it symbolizes disobedience. No matter what, denim has become a fashion quotient and style symbol. Denims are available in a wide variety of shades.
The rising consumer preference also attributes to comfort, low maintenance, and durability that denim materials offer. Needless to say, denim is a vigorously growing industry and the most lucrative businesses across the globe. Subsequently, the denim market garners tremendous traction worldwide. According to Market Research Future (MRFR), the global denim market is expected to reach USD 128,643.1 MN by 2023, registering 4.60% CAGR during the forecast period (2018-2023).
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Players leading the global denim market include Inditex (Spain), American Eagle Outfitters Inc. (U.S.), Levi Strauss & Co. (U.S.), Uniqlo Co. Ltd (Japan), Hennes & Mauritz AB (Sweden), PVH Corp. (U.S.), Gildan Activewear Inc. (Canada), Citizen of Humanity LLC (U.S.), AG Adriano Goldschmied Inc. (U.S.), and VF Corporation (U.S.), among others.
The report is segmented into four dynamics;
By Type: Loose Fit & Slim Fit., and others.
By Consumer Group: Male and Female.
By Distribution Channel: Store-Based and Non-Store Based.
By Regions: Americas, Europe, Asia Pacific, and Rest-of-the-World.
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North America dominates the global denim market. The region is considered an attractive space for manufacturers, holding 34.7% of the overall market share. The largest share of the market attributes to the presence of notable industry players and a large consumer base. The North American Denim market is expected to retain its leading position throughout the review period.
Europe stands second in the global denim market. The market is driven by the strong presence of denim production facilities and well-established fashion industries. The European denim market is projected to grow at a significant rate of CAGR during the forecasted period.
The Asia Pacific region is an attractive market for denim clothing. While the region remains a reputed market for western manufacturers, there are many local manufacturers. Regional players pose fierce competition for western players by increasingly launching innovative denim materials. Moreover, denim clothing and accessories are immensely popular among demographics, which impact market growth positively.
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