Published on : Oct 18, 2016
ALBANY, NY, Oct 18, 2016: The global denim market is expected to reach US$64.1 bn by 2020, whereas the India denim market is likely to account for 5% of the global market by 2020. At present, the denim production capacity in the India denim market is 1.1 bn meters per year, whereas the utilization levels stand at 80%. In 2010, India’s denim production had reached 700 mn meters and it grew to 1.2 bn meters in 2015. In 2015, men’s denim segment was the largest segment in the India’s denim market. However, the women’s and kid’s denim segments are predicted to grow at a significant rate in the years to come, finds ResearchMoz.us in a new report added to their database.
The report, titled “Assessment of Indias Denim Market 2016,” states that the rising innovation in denim and the growing number of companies producing denim for people of all ages are two of the primary factors expected to propel the India’s denim market. The rising focus of retailers and branded denim manufacturers on improving the quality of the denim is further expected to contribute towards the growth of the India denim market throughout the forecast period. In the global clothes industry, the denim market is growing at a significant pace over the past years. In India, the apparel sector is experiencing many changes in the denim segment. Many brands and companies operating in the India denim market are offering different varieties of denim including water repellent denim, breathable denim, weather adaptable denim, and others. Newly introduced denim are attracting the youth customers on a large scale, which is another factor expected to drive the demand for denim in India. The youth, constituting 73% of India’s total population, is a major pool of customers for the new-age denim.
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Key companies such as Arvind Limited, Levi Strauss & Co., Pepe Jeans, and Nandan Denim Ltd. are focusing on introducing new denim to match the changing trends and needs of the youth. The entry of international brands in India has challenged the Indian denim brands in many ways. The trend of buying international denim is increasing, which is a growing threat for the leading Indian manufacturers of denim. However, key Indian denim manufacturers are focusing on matching the quality of their products to the international brands, which is one of the factors expected to propel the India’s denim market throughout the forecast period.
Changing design patterns and changing lifestyles have affected the denim market in India in many ways, predicts analysts. As per the findings of the report, the rising support from the Indian government and the rising funding for the manufacture of fashion-friendly denim will benefit the denim market. The entry of new companies is likely to make the denim market in India highly competitive. Many new denim manufacturers are focused on adopting the changing trends to manufacture high-fashion denim for the buyers of all ages.
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