Overview of the global premium denim jeans market
Technavio’s market research analyst predicts the global premium denim jeans market to grow steadily and post a CAGR of more than 8% over the forecast period. The recent rise in the number of young professionals and the provision to wear casual clothes in most workplaces are the major drivers fostering growth in the premium denim jeans market. Good fit, style, and durability are the major attributes that have increased the preference for premium denim jeans. Many manufacturers are replacing the cotton with synthetic fibers for manufacturing denim jeans owing to the growing demand for comfort stretch denim among consumers. Earlier the stretch material was only restricted to women with bottom wear products such as leggings and jeggings. However, the convenience and comfort offered by these materials have attracted the attention of many male customers. The availability of different fits and cuts in these denim satisfies different types of customers, which will further augment sales of premium denim jeans in the coming years.
As per this industry analysis, APAC will be the fastest growing market for premium denim jeans during the estimated period. In this region, China will emerge as the key revenue contributor to the region’s market. The widespread availability of premium denim jeans has resulted in the momentous growth of the market, especially through online sales channels. Factors such as the increasing penetration of premium denim jeans brands and their rising awareness among consumers are also driving the prospects for market growth in the region. Skinny jeans constitute the highest selling segment in the market due to their comfortable material, which allows flexible movement and versatility.
Competitive landscape and key vendors
The global premium denim jeans market is characterized by the presence of a wide range of brands for consumers in varying fit and quality. The key players dominate this market in terms of their product range and top-ranked fashion brands. These vendors fiercely compete against each other in terms of their strategized pricing and the value-added benefits and multifunctional features that they offer in the products. These leading vendors are shifting their focus towards increasing their market shares in the developing markets such as APAC and Central and South America.
Leading vendors in the market are -
- LVMH
- Gap
- Kering
- PVH
- Levi Strauss
- VF
Other prominent vendors in the premium denim jeans market include Armani Exchange, Citizens of Humanity, DKNY JEANS, DL 1961, Differential Brands, Naked and Famous Denim, Paige Denim, Guess, and William Rast.
Segmentation by end-user and analysis of the premium denim jeans market
- Women
- Men
- Children
In 2015, the women's premium denim segment dominated the global premium denim jeans market and will retain its dominance over the predicted period. Individuals belonging to the age group of 18-34 years are the primary consumers of premium denim jeans. The women customers follow the style trends through magazines and social media, and perfect fit and style are the major factors that drive these fashion-conscious shoppers. The introduction of four-way stretch, softer cotton, and other unique features such as heat teach, anti-odor, and windproof lines in denim jeans will attract more female buyers over the next four years.
Segmentation by distribution channel and analysis of the premium denim jeans market
- Specialty stores
- Department stores
- Hypermarket and supermarkets
Specialty retail stores are apparel retailers that only sell apparel products and accessories. Specialty stores retail format includes the fast-fashion retailers that primarily focus on offering the latest fashions to consumers as quickly as possible. These retailers have a wide range of brands and attract customers through their strategic marketing initiatives and merchandising. The intense competitive retail environment has compelled specialty store retailers to depend predominantly on advertisements and product promotions to maintain their sales.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global premium denim jeans market?
- What are the key market trends impacting the growth of the global premium denim jeans market?
- What are the challenges to market growth?
- Who are the key vendors in the global premium denim jeans market?
- What are the market opportunities and threats faced by the vendors in the global premium denim jeans market?
- Trending factors influencing the market shares of APAC, Europe, North America, and ROW.
- What are the key outcomes of the five forces analysis of the global premium denim jeans market?
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