Category : Consumer Goods and Food and Beverages | Delivery Format : PDF | Status: Forthcoming | Report ID : ARC280
Clothes plays an essential role in the daily life of any individual and making a right choice for clothes is important for a consumer. Presently, denim is worn by almost every person irrespective of gender, age or class. Denim has gained a label of becoming a basic need in the collection of clothes owned by an individual and is referred to as ‘wardrobe-staple’ owing to the comfort offered by the cloth to the wearer. The major factor taken into consideration by any denim jeans purchaser includes the fit, price and comfort delivered by the particular denim jeans product. Owing to the longer durability of denim jeans, the denim industry in US is able to hold a substantial market share in the apparel industry. Denim can be worn by the consumer on various official or social events. Thus, due to the various characteristics and advantages offered by denim jeans, it is one of the most preferred apparels among consumers and also, economically sensible decision to spend their money over.
The denim industry in US is mature, large and highly fragmented. It is considered as the most fragmented industry in the overall apparel industry owing to the increasing competition in the market with the presence of substitute products such as khakis, cargos etc. Players in the denim industry are highly focusing on inventing more durable, fashionable, and trendy products in order to increase its value.
The apparel industry in the US was affected severely during the economic downturn; however, the industry regained its pace faster in comparison to other apparels. Furthermore, the introduction of yoga pants in the US apparel market has resulted in a drastic downfall in the denim market owing to the rapid adoption of yoga pants, as a substitute to denim among the people. This was mainly due to the availability of yoga pants in new designs and fabrics and the comfort offered by them. Other challenges faced by the US denim industry include the continuous price pressures with the entrance of new players offering low-priced products, rapid change in fashion trends and high risk of counterfeiting of products manufactured by known brands.
The rising population, growing trend of e-commerce and increasing concern of people in regards to fashion, coupled with the rising per capita income thereby, increasing the spending capability, are further bolstering the market growth. The market for US denim products is segmented on the basis of gender, age-group and manufacturing company size. On the basis of gender, the market is fragmented into men’s denim/jeans market and women’s denim/jeans market. The age group segment is classified into baby, teenagers, adults and old-age people. Furthermore, the manufacturing company size is segmented into small-scale manufacturing companies, medium-scale manufacturing companies and large-scale manufacturing companies.
The US denim market is highly consolidated due to the famous brands holding the large part of the total US denim market share. Companies such as Levi’s, Wrangler and Lee holds an essential market share in the men’s denim market whereas, Old Navy and Eagle Outfitters among others are few of the major players in the US women’s denim market. The key players operating in the US denim market include V.F. Corporation, PVH Corporation, Levi Strauss & Co, and Joe’s Jeans Inc. among others.
Market Segmentation
Market by Gender
· Men
· Women
Market by Age Group
· Baby
· Teenager
· Adults
· Elderly
Market by Company Size
· Small-scale manufacturing companies
· Medium-scale manufacturing companies
· Large-scale manufacturing companies
