Denim Wear Market Outlook, Trend and Forecast

The global denim market is predicted to generate a revenue of $79.2 billion in 2023,
increasing from $56.1 billion in 2017, progressing at a 5.8% CAGR during the forecast period
(2018–2023), as per a research conducted by P&S Intelligence. 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.
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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.
Geographically, the denim market was dominated by North America during the historical
period (2013–2017). The increasing disposable income, rising demand for superior-quality
clothing, and growing promotion of denim wear by celebrities are the major factors driving
the growth of the regional domain. The Asia-Pacific region is expected to register the highest
CAGR during the forecast period, because of urbanization, rising disposable income,
enhancements in the manufacturing process, improving living standards, and growing
population of working class in the region.
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In conclusion, the market is growing due to the improvements in organized retail and
introduction of innovative solutions.
Market Segmentation by Product
• Jeans
• Jackets and shirts
• Dresses
• Others (Tops and Shorts)
Market Segmentation by Segment
• Mass market
• Standard
• Premium
Market Segmentation by Consumer Type