Market Research Future (MRFR) anticipates the denim market to scale the growth trajectory at a rate of 4.60?tween 2020 and 2027.
Top Growth Boosters and Deterrents
The denim market size is bolstered by the tremendous growth of the online fashion category, and the rise in disposable income of the consumers worldwide. Frequent introduction of high-quality and sustainable fabrics with unique features also bolsters the sales. Rigid environmental regulations constantly implemented by government bodies across the globe are compelling the denim manufacturers to make use of environment-friendly raw materials as well as practices, which would be a significant growth booster for the market in the years ahead.
The highest demand is generated by the United States, which has become one of the lucrative markets in the world. The demand for denim in the country is huge, given that most of the textile firms generally focus on developing efficient restructuring businesses, effective work processes, and invest significantly on niche items. This should be a conducive business scenario for the denim industry in subsequent years.
Escalating preference for sustainable denim is the next major trend in the worldwide market, in the wake of mounting concerns related to the toxic environmental impact of the synthetic fabrics. Eco-friendly fabrics are garnering huge popularity among designers and leading brands while technical innovations have paved the way for fabrics with antimicrobial, hypoallergenic, insulating, UV resistant, highly breathable, and absorbent properties. These advanced features in denim are the result of continuous technological developments, which will be favorable for the denim market in the long run.
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Type-wise, denim is available in the market as slim fit, and loose fit, among others. Loose fit denim is the leading category with the highest share of 34.8% in the market, while it is anticipated to gain a healthy growth rate over the coming years. Loose fit denims are enjoying massive demand as they have an attractive texture and are comfortable to wear. Having said that, MRFR projects the slim fit denim segment to be the leader in the future, due to the emerging new fashion trends worldwide.
The top consumer groups considered in the research report are female along with male. Female segment is currently in the lead on account of the expanding women population gaining interest in the latest fashion trends and being inspired by magazines as well as social media.
The distribution channels include store-based coupled with non-store-based.
North America has a substantial control over the global market, securing the biggest portion of 34.7%, with the United States at the forefront. North American will make remarkable progress in the next several years, thanks to the large-scale manufacturing of denim by companies that emphasize on diversifying their product ranges. Renowned brands in the region continuously carry out marketing activities for enhanced brand awareness among people, while launching new denims. This will further have a profound impact on the North American industry during the analysis timeline.
As the fastest gaining market, Asia Pacific will profit from the heightened demand for different types of apparel in developing nations like India, Singapore, Malaysia, and Vietnam. Changes in fashion styles in line with the exploding urban populace in the region will also favor the denim industry.
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VF Corporation (U.S.), Levi Strauss & Co. (U.S.), PVH Corp. (U.S.), Inditex (Spain), AG Adriano Goldschmied Inc. (U.S.), American Eagle Outfitters Inc. (U.S.), Citizen of Humanity LLC (U.S.), Gildan Activewear Inc. (Canada), Hennes & Mauritz AB (Sweden), Uniqlo Co. Ltd (Japan), are the top denim manufacturers highlighted in the worldwide industry.
ANOTHER ASPECT (Copenhagen) introduces its latest denim category, which takes its focus on aesthetics and sustainability to a higher level. The denim collection comes with two key styles, a three-pocket jacket and a straight-leg five pocket jean, available in either “Raw Indigo” or “Used Blue”.
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