Global consumption of denim fabric has increased at a CAGR of more than 4.77 per cent from 2012 to 2016. In 2016, the global denim fabric market was led by China, India, Europe and North America. At present, the major manufacturers of denim fabric are concentrated in China and India. In terms of volume, global denim fabric sales are growing at 4.70 per cent.
Denim fabric has acquired increasing significance in clothing, household items, cowboy accessories and many other fields. Globally, the denim fabric market is mainly driven by the growing demand for clothing. The global denim fabric market is growing at 3.2 per cent.
Asia has a 22 per cent market share of the global denim industry and India contributes to nearly half that market. India will have a lot of influence in jeanswear in the coming years as the demand is increasing in all segments. An organised retail sector, a young population, online penetration of denims and the increasing popularity of engineered or distressed pieces will continue to fuel the growth of this segment. Originally a product for the youth, denim has grown to cut across geographies, gender and age groups. Given the average age of the Indian consumer today, and the influence of global style trends in the country, the industry can be expected to grow at a double-digit rate.