Global Denim market is expected to reach $79,211.0 million by 2023. Transformation
of Asian retail clothing industry, growing e-commerce industry and expansion of
organized retail is driving the market globally.
On
the basis of product, the denim market has been categorized into jeans, jackets
and shirts, dresses, and others, wherein others include tops and shorts. Out of
these, the market for jeans held a share of more than 75% in 2017, owing to
trending styles in jeans such as cropped jeans, mom jeans, distressed and
rugged jeans, globally.
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Based
on distribution channel, the denim market has been categorized into specialty
stores, department stores, hypermarkets and supermarkets, online, and exclusive
stores. Of these, the specialty stores held the largest market share of around
23% in 2017, owing to the fact that these stores offer various brands under one
roof and attractive pricing to lure customers.
The
denim market in APAC is expected to witness fastest CAGR of over 10%, during
2018–2023. The rising disposable income of people, expanding base of
working-class population, availability of ample amount of raw materials and
cost-friendly labor resources, as well as increasing government initiatives in
countries like India, China, and Vietnam are the key factors contributing to
the growth of market in the region.
The
players in the denim market are trying to improve their supply chain network to
maximize profits through partnerships with supply chain experts. For instance,
in March 2017, PVH Corporation entered into an agreement with Li & Fung
Trading Limited, through which the company targets to enhance its ability to
make its products available to customers well in time.
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Some
of the key players operating in the denim market are Levi Strauss & Co.,
The Gap Inc., VF Corporation, H & M Hennes & Mauritz AB, PVH Corp,
Kering, Pepe Jeans S.L., Bestseller A/S, U.S. Polo Assn.
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