Global Jeans Sales Forecast to Grow by $22.8B by 2027

The worldwide denim jeans market is set to grow by $22.8 billion from 2022 to 2027, which translates into an annual growth rate of 6.71 percent. That estimate is by Technavio, a technology research and advisory company.

“Expanding retail space significantly drives the growth of the denim jeans market during the forecast period,” the report notes. “Strong economic growth and urbanization are both contributing to the ongoing growth of the global retail business.”

Significant trends the report sees in the market include:

• Recycling jeans from plastic and other materials will grow substantially during the forecast period.
•  Utilizing textile waste to recycle jeans will minimize environmental resource exploitation and lessen the dependence on scarce raw materials to generate new clothing.

Key challenges  to the market include:

• Fierce competition in the apparel industry challenges the denim jeans market growth during the forecast period.
• The majority of floor space at retail establishments is taken up by attractive and vibrant bottom clothing including dresses, leggings, and athletic and yoga trousers. Due to their many uses, athletic and yoga trousers have become more popular among both men and women in recent years.

Click here for more from the report.