This article highlights the current global denim jeans market research analysis as well as the expert’s predictions of denim jeans business for coming years. I am sure the below information would provide concise but ample global market knowledge about the jeans industry trend. It also touches the insightful views on the issues affecting future business decision making for denim and jeans executives.The Denim jeans market of current year 2017 is worth in US$ 56.55 billion. In which the two key players Europe and North America have total contribution is around 70.9% of the total world. The percentage of contribution of the both players would be varied in future. As some experts say it remain same but some strongly believe that Europe pace would be better than North America.
Denim Jeans Market Analysis:
This huge denim jeans market is normally segmented by price differences. And here I want to mention this thing that there is no any good logical explanation of the price up-charge. Although there is some value addition in the high price articles (adding some extra features like GOTS, wearable technology or UV protected etc) yet the offered value is not justifying the price tag.
As per the research, the worldwide total volume of jeans for 2017 is 1,959 million pieces with an average worldwide retail price is around US$29 per piece. Whereas the Europe average price is US$40 and South America and rest world has restrict on US$15-17. There are 13 million jeans (high fashion) with a high price group and around 1,371 million in low price category. And the balance quantity is in between of the moderate prices range. If we review the consumption behavior of two major consumer market then figures per year varies. The North American consumers buy an average 1.4 pairs of jeans per person. Whereas, the European customers average consumption in denim jeans is around 0.6 per person per year.
Denim Jeans Market Future:
The future of the denim jeans industry is quite hopeful and the experts are predicting gradual growth in this business. As per the denim jeans gurus, the growth rate of denim jeans business in pieces till year 2022 will be around 2,089 million pieces (US$ 59.46 billion worth) with an estimate growth rate of 6.6%. Although the new trends which are related to environment is really hot now a days. And most of denim companies are more curious about sustainability of their product and its impact on environment. The steps towards sustainable environment is healthy but cost incurring development. As it would definitely be a challenging for a big market which categorize under price conscious segment.
Really surprise to see the consumption of European customers are still lower than the North American whcih is almost double.
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