Technavio, a tech-focused market research firm, has published a new report on the global premium denim jeans market, which is expected to experience steady growth with a CAGR of more than 8% during the forecast period.
This latest report by Technavio covers the market outlook and growth prospects of the global premium denim jeans market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global premium denim jeans market into the following key regions: APAC, Europe, North America, and ROW.
Geographical segmentation of the global premium denim jeans market for 2015 (market share %)
|
North America |
33.22% |
|
Europe |
29.11% |
|
APAC |
24.82% |
|
ROW |
12.85% |
Source: Technavio
North America: Largest revenue generating region for premium denim jeans
The global premium denim jeans market in North America was valued at almost $6 million in 2015 and is expected to grow at a CAGR of around 5% by 2020. The department stores in the region have the largest space for jeans on the shopping floor, and it is the most commonly worn clothing in the country leading to the growth of the market. It is estimated that around 70% of the individuals in the US own denim jeans and wear them regularly. The US, Canada, and Mexico are emerging as the key revenue generators in the North American market. The US imports denim apparels from various countries like China, Pakistan, and Bangladesh. In 2015, China exported 105 million units of apparel under women’s category to the US.
“The increase in the purchasing power among consumers is attributing to the rise in demand for premium denim jeans in the North American market. Brands like Wrangler, are focusing high-end consumers by launching premium denim jeans collections. Mexico is one of the largest manufacturers of jeans and jeans fabric. Various international and regional brands are entering the Mexican market to launched new collections and designs in the country,” says Brijesh Kumar Choubey, a lead analyst at Technavio, specializing in research on apparel and textile.
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Premium denim jeans market in Europe
The global premium denim jeans market in Europe was valued at around $5 million in 2015 and is expected to grow at a CAGR of almost 7% by 2020. The rising adoption of distressed or aged-new jeans trends and an increase in discount offerings in the region will fuel the market growth in the European market. The vendors in the region are launching innovative designs with special features like liquid shaping technology that helps to lift, shape, and define the body to attract more consumers. The UK, Germany, and Italy are main revenue generators in the region. The consumers in the region are demanding for sleek quality and value in clothing that includes value-added performance finishes and cotton. The European market is witnessing a growing popularity for skinny and vintage jeans. Russia houses major premium denim jeans brands such as Versace, Trussardi, and Calvin Klien which sales jeans that are priced above $250.
Premium denim jeans market in APAC
The global premium denim jeans market in APAC was valued at more than $4 million in 2015 and is expected to grow at a CAGR of around 12% by 2020. The growing demand for premium denim jeans and increasing brand awareness among consumers is making APAC the fastest growing market for these products. China and India are the key revenue generators in the APAC market. The advent of e-commerce and evolution of online shopping will help in the growth of the market in this region. Consumers are demanding for skinny jeans with comfortable material, which allows flexible movement and versatility in the APAC market.
Premium denim jeans market in ROW
The global premium denim jeans market in ROW was valued at more than $2 million in 2015 and is expected to grow at a CAGR of almost 10% by 2020. The growing popularity of jeans among young individuals and increase in the number of fashion conscious women in the UAE will lead to the growth of the market in this region. The growing penetration of internet and smartphones has increased the visibility of premium denim jeans brands and led to the increasing demand for these products in the region.
The top leading vendors operating in the global premium denim jeans market are:
- LVMH
- Gap
- Kering
- PVH
- Levi Strauss
- VF
Other prominent vendors in the market include Armani Exchange, Citizens of Humanity, DKNY JEANS, DL 1961, Differential Brands, Naked and Famous Denim, Paige Denim, Guess, and William Rast.
A more detailed analysis is available in the Technavio report titled, ‘Global Premium Denim Jeans Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global High-visibility Clothing Market 2016-2020
- Global Swimwear Market 2016-2020
- Global Women Apparel Market 2016-2020
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