PUBLISHER: Allied Market Research | PRODUCT CODE: 1641797
PUBLISHER: Allied Market Research | PRODUCT CODE: 1641797
Jeans Market
The jeans market was valued at $80.3 billion in 2023 and is projected to reach $120.0 billion by 2033, growing at a CAGR of 4.2% from 2024 to 2033.
Jeans are a widely worn type of clothing globally, popular among both men and women. They were initially designed as formal workwear; however, jeans have now evolved into a global fashion staple as they symbolize comfort and durability. They are mainly created from denim, a woven cotton fabric with high toughness and ability to sustain wear. More than clothing, jeans have been a representative of cultural shifts, political movements, and societal norms in the past.
As workplaces are shifting toward casualization, the demand for comfortable jeans is upsurging, which is driving the growth of the market. In addition, continuous innovations in the fashion industry propel the development of the market due to changes in jeans styles such as skinny jeans, ripped jeans, high-waisted jeans, and distressed denim. A notable trend dominating the market in recent times is sustainable fashion as customers are inclining toward eco-conscious jeans. To cater to the requirements of these consumers, manufacturers are focusing on the usage of organic cotton, recycled fabrics, and eco-friendly practices such as waterless finishing techniques, denim recycling, and sustainable dyeing methods for the formation of jeans.
However, volatility in consumer preferences hampers the market growth owing to increase in the appeal of athleisure-oriented garments. Several consumers are currently opting for leggings, sweatpants, or joggers over jeans, presenting notable challenges for the market. On the contrary, the adoption of ingenious technologies for the production of jeans presents remunerative opportunities for the market by increasing workplace output, reducing energy consumption, and lowering raw material requirements. For instance, an article by Fibre2Fashion-a private B2B organization-states that the usage of laser technology to achieve denim finishing enhances the workplace output by 500%, saves energy by 62%, and requirement for chemical products by 85%.
Segment Review
The jeans market is segmented into type, end user, distribution channel, and region. On the basis of type, the market is divided into regular fit, slim fit, loose fit, skinny fit, and others. By end user, it is classified into men, women, and children. By distribution channel, it is bifurcated into offline and online. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings
On the basis of type, the regular fit segment held the highest market share in 2023.
By end user, the men segment dominated the market in 2023.
By distribution channel, the offline segment acquired a notable stake in the market in 2023.
Region wise, North America was the highest revenue generator in 2023.
Competition Analysis
The major players in the global jeans market include Levi Strauss & Co., VF Corporation, The Gap, Kontoor Brands Inc., H&M Hennes & Mauritz AB, Kering S.A, PVH Corp., Bestseller A/S, U.S. Polo Assn, Pepe Jeans S.L, G-Star RAW, UNIQLO Co., Ltd., Marks and Spencer Group PLC, Iconix International, Big John-Intl, and Armani. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.
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