The global denim jeans market size is expected to reach USD 102.45 billion by 2025 registering a CAGR of 6.81%, according to a new report by Grand View Research, Inc. Growing target population across the globe along with a rise in consumer disposable income levels, especially in emerging countries, is projected to drive the market over the forecast period. In addition, improving standards of living and constant product innovations in the market will drive the demand further.
The offline distribution channel is projected to be the largest segment over the next few years. Rising number of design stores, fashion stores, specialty stores, etc. are contributing to the product sales through offline channels. The North America regional market is anticipated to account for the largest revenue share by 2025 due to the rise in the sales of retail products in the clothing market. In U.S., the retail sales of apparels surpassed USD 15.21 billion in 2017.
Most of the major manufacturers have undertaken several business strategies, such as geographical and capacity expansion, technological and product innovation, M&A, and R&D investments, to boost their sales. Some of the key companies in the denim jeans market are 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, and U.S. Polo Assn.
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Further key findings from the report suggest:
- Rapidly expanding apparel and clothing market, particularly in developed countries, is expected to propel the market growth
- In terms of revenue, men end user segment is projected to account for the largest share of the global market by 2025
- Offline distribution channel segment led the global denim jeans market in 2018 and accounted for a share of more than 85%
- North America was the dominant regional market in 2018 and is projected to expand further at a steady CAGR from 2019 to 2025
- However, APAC is projected to register the fastest CAGR during the forecast years due to increasing consumer disposable income levels in India, South Korea, China, and Japan