The global denim jeans market is expected to grow by just under $22.8 billion from 2022 to 2027, an annual growth rate of 6.7 percent, a new study by market researcher Technavio concludes.
“During the projected period, the growth of the global denim jeans market is anticipated to be fueled by the expansion of retail space across the globe,” the report notes. “Strong economic growth and urbanization are both contributing to the ongoing growth of the global retail business.”
The report also notes that denim market is already fragmented, and that is likely accelerate during the forecast period. Major players in the market include: American Eagle Outfitters Inc., AG Adriano Goldschmied Inc., ASOS Plc, BESTSELLER AS, Dolce and Gabbana SRL, EDWIN Europe GmbH, Esprit Holdings Ltd., Giorgio Armani S.p.A., Guess Inc., H and M Hennes and Mauritz GBC AB, Kering SA, Kontoor Brands Inc., Levi Strauss and Co., LVMH Moet Hennessy Louis Vuitton SE, Pepe Jeans SL, PVH Corp., Ralph Lauren Corp., Tapestry Inc., The Gap Inc., and G Star Raw eStore BV.
One of the major trends expected to impact the market is the increasing manufacture of jeans out of plastic and other existing materials.
“Resources in the environment are becoming scarcer as a result of the rising demand for denim jeans,” the report states. “Utilizing textile waste to recycle jeans minimizes environmental resource exploitation and lessens the dependence on scarce raw materials to generate new clothing. The garbage is recycled by being broken down into thin fiber and then utilized to make yarn. Most retailers, including Levi Strauss, manufacture denim using materials like plastic.”
Click here for more from the study.