Growing at a CAGR of 3 percent, the global denim jeans market is expected to surpass USD 152 billion by 2031. A report published by ESOMAR-certfied market research firm Fact.MR states, the market is anticipated to grow 1.2X from 2021 to 2031. Demand for women’s denim is expected to grow by more than 3 percent CAGR during the forecast period.

North America is set to dominate market revenue in 2021, and is expected to grow from 1.5 billion units in 2020 to nearly 2.6 billion units by 2031. The market in China and India is expected to rise at over 4 percent CAGR during the forecast period.

 

The market for regular fit jeans is expected to make up 45 percent and reach USD 1.3 billion by 2031. However, the market for slim fit jeans has gained huge attention among teenagers, which has propelled the demand trajectory.

 

Fast adoption of Western lifestyle in Asian countries has generated enormous demand for denim jeans over the last few decades. Moreover, rapid growth in consumer disposable income spending on personal care is boosting the sales of denim jeans in the continent.

 

The market in Asia Pacific countries such as India, China, and Australia has been gaining traction owing to rising urbanization and improving consumers’ economic stability.

 

Source: fashionatingworld.com