The worldwide growth in the e-commerce industry and transformation of the Asian retail clothing industry are the major driving factors of the market. In terms of segment, the market is divided into premium, standard, and mass market.
Among all these, the premium division is expected to register the highest CAGR during the forecast period, owing to rapid westernization, increasing number of high-net-worth individuals, and growing upper-middle-class population around the world. On the basis of consumer type, the market is classified into children, men, and women, out of which, the men classification dominated the market in 2017. Men are creating increasing demand for casual and rugged-material clothing. They wear denim clothing for several purposes, including everyday life, parties, and work.
Browse detailed - Denim Market Revenue Estimation and Growth Forecast Report
The improvement in organized retail and the introduction of advanced solutions that are driving the denim market. The price of denim products differ on the basis of comfort, texture, wash, and style. The denim industry has paid attention to diverse needs ad budgets of consumers, which is why, products ranging from cheap to luxury are available in the market. In addition to this, the industry is widely introducing new designs, cuts, and washes for keeping consumers interested.
A major trend being witnessed in the denim market is the shifting focus of consumers towards cropped, distressed, and patched jeans. People around the world are increasingly demanding trending jeans, such as jeans with cropped hems, two-tone jeans, boyfriend jeans, and skinny jeans. The popularity these products is majorly increasing among the younger generation, which can be ascribed to their inclination towards casual look. Moreover, the demand for decorative denims that have details including laces, patches, and embroidery is also expected to result in the growth of the market.
In conclusion, the market is growing due to the improvements in organized retail and introduction of innovative solutions.
