Denim Jeans Market to Exhibit Impressive Growth During 2023– 2030: Grand View Research Inc.

 Denim Jeans Market Growth & Trends

The global denim jeans market size is anticipated to reach USD 121.50 billion by 2030 and is expected to register a CAGR of 5.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market is driven by a rise in the consciousness regarding fashion trends coupled with shifting consumer priorities towards branded clothing products like denim jeans. In addition, consistent product launches and innovations by leading players in the denim jeans market including Levi Strauss & Co., VF Corp., the Gap, Inc., and others are implementing strategies such as expansion of their retail footprints in tier II and tier III cities to enlarge the customer base globally.

Moreover, the market is driven by increasing acceptance of business casuals for work purposes, which lead to newer growth opportunities worldwide. The increase in the women’s workforce has given ample growth opportunities for the denim jeans market, as these products are increasingly adopted by working females for workplaces and business meetings. Nowadays, the millennial and Gen-Z population have set priorities towards clothes that are suitable for different body types and denim jeans come in a wide array of sizes, finishes, colors, and designs. As, a result of this, the millennial generation is more likely to purchase denim jeans such as tapered fit, loose-fitting, curves, and bell-bottom jeans, which will likely drive the demand for such products.

COVID-19 has had an adverse effect on the worldwide denim jeans market. As a result of the lockdown, all companies were closed, with the exception of necessary services, disrupting the production and distribution of clothing products, and impacting clothes producers and merchants. The main market for denim jeans was lost when government bodies implemented lockdown measures to stop the spread of COVID-19 and sealed international borders, causing a global disruption in the clothing material trade supply. The COVID-19 outbreak has hampered export and import activity and restricted the movement of raw materials used in the production of denim jeans. However, the market is likely to eventually return to pre-pandemic levels, since sales of clothing and other lifestyle products have seen an uptick in sales and will generate more demand over the forecast period.

Based on sales channel, the offline channel is estimated to lead the segmental share over the coming years due to increasing customer preferences for in-store visits and try and test denim jeans according to their body shape and sizes. Also, the in-store assistance from salespersons towards appropriate fitment to different body types will assist the offline sales channel in its growth.

Based on end-user, men accounted for the highest share in 2020, accounting for about half of the global denim jeans market, and is expected to continue its dominance throughout the forecast period.  This is owing to the fact that the world's most famous celebrities, athletes, and other artists are paying attention to men’s sports fashion and cooperating with some of the world's most famous denim pants labels, like Wrangler, Calvin Klein, H&M Hannes & Mauritz AB, and others.

North America is expected to have the largest market share in the coming years. It will maintain its leading position during the forecast period due to growth in retail sales revenue in the apparel market. Furthermore, Popular American clothing brands like Levi Strauss & Co., Wrangler, VF Corp., collaborate with influencers and sports personalities towards inspirational collections of denim jeans for both men and women to drive more sales.

The majority of denim jeans are expensive because they are created using high-quality raw materials and need a high level of manufacturing skills.  This fact prevents many individuals from purchasing branded jeans because they perceive it as a waste of money. Many people consider purchasing a clothing item to enhance their looks but decide against it because they are concerned that it would increase their budgetary expenses. This is expected to be a constraint during the projected period.

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Denim Jeans Market Report Highlights

• The offline segment dominated the global market with the highest revenue share of 85.8% in 2022
• This growth is due to the greater preference for in-store visits and trying and testing out different products that match according to body shapes and sizes
• The men’s segment is expected to increase significantly during the forecast period owing to the fact that the world's most famous celebrities, athletes, and other artists are paying attention to men’s sports fashion and cooperating with some of the world's most famous denim pants labels, like Wrangler, Calvin Klein, H&M Hannes & Mauritz AB, and others
• North America led the global market with the highest revenue share owing to the presence of a large number of players such as Levi Strauss & Co., Wrangler, VF Corp., US Polo Assn

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Denim Jeans Market Segmentation

Grand View Research has segmented the global denim jeans market based on distribution channel, end-user, and region:

Denim Jeans End-user Outlook (Revenue, USD Million; 2017 - 2030)

• Men
• Women
• Children

Denim Jeans Distribution Channel Outlook (Revenue, USD Million; 2017 - 2030)

• Online
• Offline

Denim Jeans Regional Outlook (Revenue, USD Million; 2017 - 2030)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK.
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
• Central & South America
  • Brazil
• Middle East & Africa
  • South Africa

List of Key Players of Denim Jeans Market

• Levi Strauss & Co.
• VF Corp.
• The Gap, Inc.
• H&M Hennes & Mauritz AB
• Kering S.A.
• Pepe Jeans S.L.
• PVH Corp.
• Bestseller A/S
• S. Polo Assn.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.