A Technavio market research estimates the global premium denim jeans market to grow at a CAGR of more than 8 per cent, during the forecast period, as per their latest report. Their study covers the present and growth prospects of the international premium denim jeans market from 2017 to 2021. The report also lists women, men, and children as the three major end-user segments, of which women’s segment accounts for close to 56 per cent market share in 2016.
Technavio expounds three market drivers that are contributing to the growth of global premium denim jeans market: Innovative product designs; Acceptance of denim jeans as a business casual attire; and Increasing preference for high-end and premium designer labels. Branded jeans are constantly innovating to combat fierce competition from counterfeit apparel manufacturers. The new jeans are comfortable because they are made of soft knitted denim. This also provides traditional sportswear functionalities such as thermo-regulation, moisture management, UV protection, anti-rip features and durability.
Narendra Nandaigari, a lead analyst at Technavio for apparel and textile research points out jeans are differentiated from other apparel due to the incredible stretch and flexibility they offer. This is achieved by blending cotton or spandex with the denim. This innovative approach has also helped the vendors to sustain the hike in the price of cotton. Manufacturers of jeans are setting the trend of offering a new generation of fabric by delimiting the boundaries through hybrid blending techniques. For instance, Diesel introduced Jogg Jean, a hybrid jean, which has the characteristics of jersey material yet looks like an authentic denim-made jean.
There is a growing acceptance of denim jeans/jackets as a business casual attire at the workplaces. Google, Zappos, Facebook and Twitter are some of the many organisations that permit employees to dress in casual attire. There is also an increasing preference for high-end and premium designer labels which permits people to showcase their wealth, social status and fashion sense. This has forced brands to focus on the production of a range of jeans. that offer new styles, sizes, colours, designs, and other aesthetic features. These factors in luxury jeans encourage customers to buy more than just one pair of jeans to match with their accessories or current trends.
