Global Denim Fabric Market Size to grow USD 29.4 Bn in 2028
The Global Denim Fabric Market Size was valued at USD 18.1 Bn in 2021. The market is projected to grow USD 29.4 Bn in 2028, at a CAGR of 4.4%.
The Global Denim Fabric Market Size was valued at USD 18.1 Bn in 2021. The market is projected to grow USD 29.4 Bn in 2028, at a CAGR of 4.4%. Denim Fabrics are durable cotton twill fabric, resulting in the recognizable diagonal ribbing seen on the reverse of the fabrics. Denim Fabrics used to make jeans, jackets, shorts, jeggings, and other garments and accessories in the apparel sector It's a robust fabric with diagonal denim ribbing created by weft and warp weaving processes.
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The impact of Covid-19 had a negative impact on the global denim fabric market owing to the supply chain disruptions for denim fabric products. Furthermore, during the COVID-19 period, increased raw material prices, particularly cotton and cotton yarn reduced denim fabric market. The COVID-19 pandemic prompted a global lockdown and the temporary closure of fabric production facilities, impacting the global denim fabric market's overall growth. It further impacted the entire supply chain, causing raw material prices to surge, particularly for cotton and cotton yarn. This factor slowed the production of denim fabric, particularly in the beginning. Furthermore, the decline from customer’s income had resulted in a decrease in demand for the global denim fabric market.
The nobel coronavirus is an unprecedented worldwide pandemic that has spread to over 180 nations and resulted in massive human and economic losses all over the world. Due to disruptions in the supply chain for denim fabric products, the denim fabric market has been significantly damaged as a result of the COVID-19 pandemic. Furthermore, during the COVID-19 period, increased raw material prices, particularly cotton and cotton yarn, reduced denim fabric output. Cotton and cotton yarn prices, for example, increased by 20-30 percent in December 2020 compared to March 2020, according to a report published by the Denim Manufacturers Association of India (DMAI). Furthermore, there is a significant shift in investment from other sectors to healthcare in order to limit the increase of novel coronavirus cases. In addition, due to the risk of infection among the staff, some denim fabric production enterprises and mills have closed or reduced their operations. This has temporarily slowed the denim fabric market's production rate.
According to an article released by Textile Value Chain, the total number of denim fabric mills operating in India has increased by 53.3 percent since 2012, to 46 in 2021 from 30 in 2012. As a result, there may be more affordable denim fabric available. In the coming years, this aspect is projected to propel the denim fabric industry forward. Furthermore, unbranded denim manufacturers account for a significant portion of denim fabric use. This may provide an extra boost to the denim fabric market's growth. Favored preference for denim amongst youth owing to boosting the sales of denim market. Increasing usage of denim products by women and millennials in smaller cities and rural areas is likely to propel the growth of the denim fabric market.
The raw segment dominated the global denim fabric market share owing to raw denim is also known as unwashed or dry denim. It has a lengthy lifespan, although the color fades with each wash. The cotton segment dominated the global denim fabric market share owing to cotton fabric has been used for apparel and home adornment since prehistoric times. It provides comfort and durability while also being less in weight. The homeware segment dominated the global denim fabric market share owing to surging usage of the denim used in the homeware & décor applications. Denim upholstery is a lesser-known use for the fabric.
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Asia Pacific region is expected to dominate the market share of global denim fabric market owing to attributable to an increase in consumer’s disposable income in developing nations and individuals rising standards of living. The rising use of denim fabric in the production of a wide range of denim products such as jeans, shirts, jackets, and other denim products is a major market trend in the global market. Cotton's widespread availability has fueled the region's denim fabric market's expansion. Furthermore, preferential market access is a vital component boosting Bangladesh's textile sector, which has resulted in a huge increase in demand for denim fabric. Due to steady economic growth and urbanization, China is likely to maintain its supremacy over the predicted period. Increased government investment in innovative textiles, growing taste for luxury brands, and changing lifestyles are likely to propel India's textile and clothing industry into double digit growth.
KEY INDUSTRY DEVELOPMENTS:
December 2021- Advance Denim has setup a production unit in in Nha Trang, Vietnam, named Advance Sico. It is this focused approach to sustainability that gave way to such innovations as Big Box dyeing, which saves up to 95 percent of the water used in conventional dyeing while using traditional liquid indigo.
October 2019- Bextex has invested USD 20 Mn to upgrade South Asia’s advanced washing plant for denims, garment dyeing and special finishing of woven and knits.
April 2019- Wrangler has collaborated with local cotton farmers and mount vernon mills expanding their customer base.
March 2019- Advance Denim collaborated with Denham, which is a jean manufacturer to expand their collection of stretch jeans.
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