US to retain top position in denim jeans market, but growth to slow
The US will hold on to its leading position in the global denim jeans market, but its annual growth will be lower than the global average. The growth rate of the US market is projected at 3.14 per cent for 2021-2026 while the global market will grow at an annual rate of 3.65 per cent in the same period. Developing economies like China and India are chasing the US very closely.
The US market size of denim jeans was estimated at 523.97 million units in 2021. It may grow to 561.29 million in 2022, then 582.19 million in 2023, followed by 593.8 million in 2024, then 603.48 million in 2025 and 611.54 million units in 2026, according to Fibre2Fashion’s market insight tool TexPro.
The global market for denim jeans was estimated at 2,893.37 million units in 2021. This may grow to 3,461.56 million by 2026. Between that time it should hit 3,145.55 million in 2022, then 3,273.73 million in 2023, and 3,351.19 million in 2024, while reaching 3,409.81 million in 2025.
As for China, its denim market size is likely to grow to 588.82 million units in 2026. The growth rate will be 4.86 per cent between 2021 and 2026. Its market size was 464.55 million in 2021.
Meanwhile, India’s market size for denim jeans is projected to grow to 426.12 million units in 2026. The growth rate will be 4.38 per cent between 2021 and 2026. Its market size was 343.93 million in 2021.