The global denim market retains its style and strength

 Jeans have been one of the most popular and important fashion items in every wardrobe for several decades, consolidating denim as one of the most important segments of the global textile and clothing industry. Although denim has been at the forefront of the market for many years, the industry faces stiff competition from the sports and casual wear segment, which has led to declines in sales. Despite falling sales, the global denim market still has a large share of the global fashion market.

Today, the global denim and jeans market is estimated to be around $ 60 billion, while the denim industry will grow at an annual growth rate of more than 6.5% from 2015 to 2020, according to the consulting firm. and Market Research from Technavio. The emerging economies of Latin America and Asia are expected to lead growth in the world market. The premium women's jeans segment currently dominates the global jeans market with a 55.41% market share in 2015. The men's jeans market had a 40.11% share in the same year. Levi's, DIESEL, and G-Star RAW are the world's top three denim companies, with total sales of $ 4.75 billion, $ 2.1 billion, and $ 0.8 billion, respectively, in 2015.


Among the denim garment manufacturer, Mexico is one of the largest manufacturers of jeans and denim fabrics, and also one of the largest consumers of jeans. China has a growing share of the global denim market, despite China's denim exports to the US and Europe far exceeding its domestic consumption. Bangladesh is the largest denim exporter to Europe and the third-largest in the United States after Mexico and China. Bangladeshi denim has a 22.88% share in the EU and 11.35% in the US denim markets, as denim exports have grown by 11.16% in the last five years.



In terms of jeans sales, the United States and the United Kingdom are two of the main markets for denim jean manufacturers. Almost 70% of people in the United States own and wear jeans regularly. Of these, almost everyone owns at least one pair of jeans, and the average consumer owns seven pairs. While the UK is one of the largest clothing markets in Europe, consumers in the country own an average of 17 pieces of jeans per person.


 

The North American denim jeans market is expected to grow more slowly over the next five years than in previous years. US denim imports fell 5% from January 2016 to May 2016. Mexico exported $ 102.11 million on price sensitivity and the growing acceptance of sportswear as comfort wear.




In contrast, APAC is expected to be the fastest-growing jeans market and China to be the fastest-growing country in the region. APAC's premium denim jeans market is expected to grow 12.23% annually through 2020.


For future development, the global denim market has put more environmental concerns on its agenda. Sustainable jeans are becoming more and more popular, they are not only a concept for industrialized countries, but they are also gaining importance in developing countries like India and China. Indian jeans manufacturers have developed eco-friendly denim that is made from 100% organic cotton without bleach. Under the Waste Less brand, Levi's has also launched a line of jeans made from post-consumer waste, such as recycled plastic bottles and food bowls for men and women.

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