The global premium denim jeans market exhibited moderate growth during 2015-2020. Premium denim jeans can be defined as high-quality lower-body apparel that is worn by both men and women across all age groups. These jeans are usually manufactured using superior-quality dungaree and denim materials to provide enhanced comfort to the wearer. While manufacturing premium denim, vendors pay additional emphasis on maintaining high levels of quality, innovation and craftsmanship. In comparison to the budget jeans, they are more durable in terms of materials and hues and also enhance the overall aesthetic appeal of an individual.
Significant growth in the fashion industry, along with rapid urbanization across the globe, is one of the key factors driving the growth of the market. Furthermore, changing consumer lifestyles and a significant rise in the female workforce participation rate in both developed and emerging economies have contributed to the increasing product demand. There is shifting consumer preference, especially among the younger population, for cropped, distressed, two-tone, skinny and patched jeans, owing to extensive brand promotions on various social media platforms. In line with this, the proliferation of online retail portals that provide hassle-free shopping experience while offering a wide range of products is also contributing to the market growth. The emerging trend of utilizing recycled plastics and other materials to manufacture premium and super-premium denim jeans is acting as another growth-inducing factor. Other factors, including the development of customizable and visually appealing product variants and rising expenditure capacities of the consumers, are projected to drive the market further. Looking forward, IMARC Group expects the global premium denim jeans market to grow at a CAGR of around 5% during 2021-2026.
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The report has also analysed the competitive landscape of the market with some of the key players operating in the market.
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