Denim Market to Reach $87,631.5 million by 2023 - PowerPoint PPT Presentation

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Denim Market to Reach $87,631.5 million by 2023

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The high growth is expected due to the penetration of western fashion and western life style in the form of casualization of clothing, across the globe. The factor has boosted the consumption of casual fashion apparels like denims, dresses, shirts, tees and casual shirts in working as well as non-working segments of the society, over the years. Currently, the changing perception of executive wear in corporate and growing popularity of western wear among youth are some of the factors driving the sales globally. – PowerPoint PPT presentation

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Title: Denim Market to Reach $87,631.5 million by 2023


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Denim Market to Reach 87,631.5 million by 2023
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Denim Market
Denim market is expected to reach market size of
87,631.5 million by 2023, PS Market
Research The high growth is expected due to the
penetration of western fashion and western life
style in the form of casualization of clothing,
across the globe. The factor has boosted the
consumption of casual fashion apparels like
denims, dresses, shirts, tees and casual shirts
in working as well as non-working segments of the
society, over the years. Currently, the changing
perception of executive wear in corporate and
growing popularity of western wear among youth
are some of the factors driving the sales
globally.
3
Denim Market
Insights on market segments
The denim market is categorized into product,
segment, consumer type, and distribution channel.
Jeans is the leading product in the global
market, that generated more than 40 billion in
2016. The popularity of denim pants among
teenagers and adults is the prime reason for its
larger market, as compared to other apparels.
Among the segments, mass market is expected to
continue accounting for major market revenues
till 2023. To lower the cost of mass market,
various manufacturers have started replacing
cotton with nylon, polyester, aramid, and other
spun thermoplastics. Among all consumer types,
men category led the denim market with nearly 27
billion revenues in 2016. As a global trend from
decades, men are more interested in casual denims
as compared to formal wear because of the growing
fashion consciousness among them. Due to the
rising acceptance of fast fashion wear, such as
jeans, jackets and shirts for men in corporate or
commercial environments, its demand for men is
projected to stay ahead to that of women, during
the forecast period.
4
Denim Market
Access Report Summary with Detailed TOC on "Denim
Market by Product (Jeans, Jackets and Shirts,
Dresses), by Segment (Mass Market, Standard,
Premium), by Consumer Type (Men, Women,
Children), by Distribution Channel (Specialty
Stores, Department Stores, Hypermarkets
Supermarkets), by Geography (U.S., Japan, Brazil,
Germany, France, U.K., Italy, Canada, Mexico,
Spain, Philippines, S. Korea, Australia,
Pakistan, Russia, New Zealand, Turkey,
Netherlands, South Africa, Thailand, Belgium,
Malaysia) Global Market Size, Share,
Development, Growth and Demand Forecast, 2013
2023" at https//www.psmarketresearch.com/market-
analysis/denim-jeans-market Among all the
distribution channels, specialty stores held the
largest share in the global revenues of the denim
market, accounting over 13 billion sales in
2016, which is expected to reach above 20
billion by 2023. Specialty stores focus on
specific products pertaining to a single product
line. And when it comes to denim, these stores
offer a wide variety of apparels to customers.
The price and quality of denims in these stores
are more competitive than other distribution
channels.
5
Denim Market
Increase in western lifestyle accelerating the
global market growth
The popularity of western lifestyle has augmented
the casualization of clothing across the globe.
It has furthered the trend of sporting casual
fashion clothes like dresses, shirts, tees, and
casual shirts in working as well as non-working
segments of the society. Moreover, a rise in
supply chain is also generated in the denim
market, with the increase in westernization. The
strategies that denim vendors are adopting to
increase the level of coordination among
westernization and increasing consumer demand, is
based on well-connected and pressured supply
chain channels. For instance, the fast fashion
strategy used by Zara, which is one of the
largest clothing retail chains, includes constant
records of customer feedback to introduce new
designs and set up global clothing trends.
Further, Zaras unique and youth-oriented
marketing strategy focuses more on logistics,
than conventional wisdom, as a prime part of the
visible supply chain.
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Denim Market
North America stands as the largest market
Geographically, North America has been the
largest denim market, accounting for more than
30 of global revenue in 2016, whereas the sales
is expected to witness the fastest growth in
Asia-Pacific, during the forecast period. The
growth in Asia-Pacific will be led by factors
such as surge in digitization within the apparel
industry, advancement in new denim knitting
technologies, growth in investment in clothing
space, and the increasing adoption of luxurious
and casual garments from all segments of the
society. Further, the increasing technology
developments in brand marketing and customer
management, changing demographics and rise in
foreign direct investments (FDIs) are some of the
factors for the expanding of denim industry in
the region.
7
Denim Market
North America stands as the largest market
Geographically, North America has been the
largest denim market, accounting for more than
30 of global revenue in 2016, whereas the sales
is expected to witness the fastest growth in
Asia-Pacific, during the forecast period. The
growth in Asia-Pacific will be led by factors
such as surge in digitization within the apparel
industry, advancement in new denim knitting
technologies, growth in investment in clothing
space, and the increasing adoption of luxurious
and casual garments from all segments of the
society. Further, the increasing technology
developments in brand marketing and customer
management, changing demographics and rise in
foreign direct investments (FDIs) are some of the
factors for the expanding of denim industry in
the region.
8
Denim Market
High competition in the industry
The global denim industry is highly competitive
with players developing new strategies to reach
their customers in the most effective and
efficient way. Some of the major players
operating in this industry are Levi Strauss
Co., Gap Inc., VF Corporation, HM, PVH
Corporation, and Kering. Rigorous brand
campaigning is one of the strategies being
pursued by the players of the denim market to
break the competition clutter. For example, VF
Corporation recently ran a campaign Be
Comfortable in Your Own Jeans, under which it
promoted its Wrangler brand.
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Denim Market
Download report sample at
https//www.psmarketresearch.com/market-analysis/d
enim-jeans-market/report-sample
10
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