Premium Denim Jeans Market Will Boom Following the Trend of ... - Business Wire (press release)

LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global premium denim jeans market to grow at a CAGR of more than 8% during the forecast period, according to their latest report.

The research study covers the present scenario and growth prospects of the global premium denim jeans market for 2016-2020. To calculate the market size, the revenue generated from the retail sales of premium denim jeans to individual customers globally was considered. The report also includes market segmentation by end-users, retail format, and geography.

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Technavio consumer and retail analysts highlight the following three factors that are contributing to the growth of the global premium denim jeans market:

• Recycled jeans from plastic and other materials
• Rise in demand for stretch jeans
• Growing demand from HNWI and a status symbol

Recycled jeans from plastic and other materials

The disposal of used plastics and clothes has become a prime concern globally. Large quantities of hazardous chemicals are used, and greenhouse gases are released during the manufacture of denim jeans. Manufacturers are focusing on regulating such chemicals and are trying to reduce their environmental effects by adopting sustainable practices.

“Sustainable jeans are not only a concept for the developed nations but are also gaining prominence in developing countries, including India and China. Indian designers have developed eco-friendly denim that is manufactured using 100% organic cotton without using bleach. One such example is Indie label 11.11,” says Brijesh Kumar Choubey, a lead analyst at Technavio for apparel and textile research.

Levi's introduced a line of denim jeans made of post-consumer waste such as recycled plastic bottles and food trays under the Waste>Less brand for both men and women. The company had developed a process of incorporating polyethylene terephthalate (PET) plastic sourced from brown beer bottles, green soda bottles, clear water bottles, and black food trays for manufacturing its denim material. The bottles are sorted by colors, crushed into flakes and then made into polyester fibers. Then the polyester fiber is blended with cotton fiber and then finally woven into traditional cotton yarn for making jeans.

Levi's is also a member of the Better Cotton Initiative which reduces the water and pesticide use while growing the cotton and economically supports hundreds of thousands of cotton farmers. Levi's also partnered with textile technology start-up Evrnu, SPC to create the world’s first jean made of cotton recycled from five discarded cotton T-shirts to make new fiber in the form of a pair of Levi’s 511 jeans. “The cutting-edge technology helps to convert consumer waste into renewable fiber, and it also uses 98% less water than virgin cotton products,” says Brijesh.

Rise in demand for stretch jeans

With the rise in cotton prices, the demand for stretch fibers in the jeans is on the rise. Many manufacturers are replacing the cotton with synthetic fibers for manufacturing denim jeans. The cost of manufacturing a stretch denim jean is 10%-15% higher than non-stretch denim. However, consumers demand comfort stretch that retains its style. Sorona delivers comfort stretch fabric, which provides freedom of movement in denim. The stretch fabric retains the shape and personalized fit of denim garments even after frequent washes. Another benefit of stretch fibers is that the apparel maintains its shape without any bagging in the knee or other areas, which the consumers appreciate.

Earlier the stretch material was only restricted to women with bottom wear products such as leggings and jeggings. However, the convenience and comfort that the stretch material offers has also started attracting demand from men. The cost of manufacturing a stretch denim using Spandex and Lycra is growing. DuPont is one of the largest manufacturers of such stretch denim textiles globally.

Growing demand from HNWI and a status symbol

Factors such as the growing upper middle-class population and the growing population of high net worth individuals (HNWI) has reflected growth in the luxury men's wear market. APAC had exceeded North America as home to the largest HNWI population, with a rise to 4.69 million in 2014, an 8.5% increase from a year earlier. China and Japan are the two emerging countries in the global market and are registering a double-digit growth in the HNWI population and ultra-HNWI wealth growth. These countries together accounted for nearly 60% of the global HNWI population growth.

The Chinese HNWI consumers are contributing to about 33% of the luxury spending globally, followed by the Americas with almost 25% and the Europeans by 16% in 2015. Brands such as Gucci and Bottega Veneta have opened first full range men's only stores in China. In addition, Dior and Alexander McQueen's have opened men's only stores in China.

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