LONDON–(BUSINESS WIRE)–The global premium denim jeans market size is expected to grow by USD 3.53 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
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Vendors are constantly innovating to combat the fierce competition from counterfeit apparel manufacturers. They are attracting customers by producing more comfortable jeans by making the products more flexible to compressions and stretches. The new jeans are comfortable to use because they are made of soft knitted denim. This also provide traditional sportswear functionalities such as thermo-regulation, moisture management, UV protection, and anti-rip features. Moreover, manufacturers of jeans are setting the trend of offering a new generation of fabric by delimiting the boundaries through hybrid blending techniques. For instance, Diesel (brand of OTB Group) introduced Jogg Jean, a hybrid jean, which has the characteristics of jersey material yet looks like an authentic premium denim-made jean.
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As per Technavio, the increasing preference for high-end and premium designer labels will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Premium Denim Jeans Market: Increasing Preference for High-End and Premium Designer Labels
Premium denim jeans have acquired a broader appeal among customers worldwide, thereby allowing them to showcase their wealth, social status, and fashion sense. This movement in the market has forced vendors to focus on the production of a range of jeans that offer new styles, sizes, colors, designs, and other aesthetic features. Moreover, the key competitors are emphasizing on the design of customized jeans based on customer’s feedback that includes bright hues, multi-colors, and better fit. These customized premium jeans are chosen by customers as office wear, casual wear, and party wear. Thus, the increasing preference for high-end and premium designer labels will drive market growth.
“Other factors such as the acceptance of denim jeans as a business casual attire, and the increasing launch of new products will have a significant impact on the growth of the premium denim jeans market value during the forecast period,” says a senior analyst at Technavio.
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Premium Denim Jeans Market: Segmentation Analysis
This market research report segments the premium denim jeans market by end-user (women, men, and children) and geography (North America, Europe, APAC, South America, and MEA).
The North American region led the premium denim jeans market share in 2019, followed by Europe, APAC, South America, and MEA respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as new product launches, and the growing adoption of online distribution channels.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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