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Global Jeans Market Set to Soar at 6.3% CAGR

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Published: Friday, 29 December 2023 00:49

In a recent revelation, the global denim jeans market is poised for robust growth, projected to surge at a Compound Annual Growth Rate (CAGR) of 6.3 percent from 2022 to 2030, according to the 'Denim Jeans-Global Strategic Business Report' by ResearchAndMarkets.

As of now, the denim jeans market stands at an impressive $70 million and is forecasted to skyrocket to $114.6 million by the end of the next decade. A noteworthy trend driving this surge is the dominance of online sales, expected to escalate at a remarkable 12 percent CAGR during the analysis period. Meanwhile, the offline channel is projected to witness growth at a steady 4.2 percent CAGR, reaching $77 million.

China emerges as a frontrunner in steering the growth of the global denim jeans market, set to experience an impressive 8.9 percent CAGR, culminating in a value of $25.9 million by 2030. Japan and Canada are also expected to contribute significantly, with growth rates of 3.4 percent and 5.1 percent, respectively, over the 2022-2030 period.

Europe's denim landscape will be prominently shaped by Germany, projected to grow at an approximate 3.9 percent CAGR. This underlines the diverse global trajectory of denim jeans, with different regions exhibiting unique growth patterns and contributing to the overall market expansion.

The surge in the denim jeans market is indicative of the enduring popularity of this iconic wardrobe staple. The escalating embrace of online platforms for denim purchases suggests a changing consumer landscape, emphasizing convenience and accessibility. As the industry gears up for this anticipated growth, players in the denim market are expected to leverage digital channels, tapping into evolving consumer preferences and driving innovation in the timeless realm of denim fashion.