The global denim fabric market generated US $ 18.1 billion in 2020, and is projected to reach US $ 27.9 billion by 2030, witnessing a CAGR of 4.4 per cent from 2021 to 2030.
According to the report published by Allied Market Research, availability of denim fabric at affordable prices and new socio-economic trends drive the growth of the global denim fabric market.
The emergence of biodegradable denim fabric presents new opportunities in the upcoming years.
At the same time, volatility in prices of cotton and environmental risks associated with the use of synthetic dyes restrain the market to some extent.
The outbreak of the pandemic led to global lockdown and temporary closure of fabric production facilities, thereby affecting the overall growth of the global denim fabric market.
It further disrupted the whole supply chain, leading to rise in prices of raw materials, especially cotton and cotton yarn. This factor decreased the production of denim fabric, especially during the initial phase.
In addition, the falling income of customers had given way to contraction in the demand for premium denim products.
Based on region, APAC contributed to the highest share in terms of revenue in 2020, holding nearly four-fifths of the total market share, and is estimated to continue its dominant share by 2030.
The same region is also projected to manifest the fastest CAGR of 4.6 per cent during the forecast period. Other regions discussed in the report include America, Europe and MEA.
Notably, India is also a leading player in the denim fabric segment with over 30 denim mills and has strong denim fabric producers like Arvind Ltd., Aarvee Denims, Pratap Spintex Ltd., Bhaskar Industries Limited, Raymond Denim, KG Fabriks and KG Denim.
