Fact.MR, a prominent market research and competitive intelligence provider, anticipates the Denim Jeans Market to surpass US $ 152 billion by 2032, with a projected steady growth rate of around 4 per cent over the next decade, presenting promising opportunities for industry players.
The denim jeans industry has undergone a revolution with R&D and evolving technologies, resulting in the development of recyclable and durable fabrics. This transformation has been further driven by Asian countries’ swift adoption of Western lifestyles, leading to a significant surge in demand for denim jeans in recent decades.
North America, particularly the United States, dominates the denim jeans market in terms of production and consumption. The growing popularity of slim-fit jeans among teenagers has significantly driven demand. In Asia Pacific countries like India, China, and Australia, urbanization and improved economic stability have fueled the market’s growth.
The global denim jeans market is projected to grow 1.2X from 2022 to 2032, with regular fit jeans capturing over 45 per cent market share and creating a US $ 1.3 billion opportunity.
Demand from women is growing rapidly, with a forecasted CAGR of over 3 per cent. North America is expected to dominate market revenue in 2022, reaching nearly 2.6 billion units by 2032, while the market in China and India is set to rise at over 4 per cent CAGR.