Being part of the fashion industry, one gets a lot of opportunities to learn about creativity and self-expression—unique designs and stand-out looks are industry synonyms. However, there are marked differences in the sales of unique dresses and the regular ones. This difference is something understood and acknowledged throughout the industry. As much as the audience looks out for special materials, the buying patterns indicate purchasing regular fabric-based clothes.
One of the most popular materials throughout the fashion industry is denim. The versatility and comfort of the fabric make it the preferred choice for both designers and consumers. Be it the ubiquitous jeans, or stylish jackets, wearing denim is always 'in'. Designers love to work with the material, and jeans manufacturers ensure these designs come to life on time. However, clothing is not the only denim product in the industry.
Its application ranges from clothes, accessories, bags to even decorative pieces. The denim market potential is such that it was the topic of global research. The Jeans Manufacturers Worldwide Market Report 2020 is the outcome of this mammoth effort. The report provides pertinent information of interest to jeans manufacturers, as much as to trade analysts.
Before getting into the report's findings and what it means for business, here is a brief look at how the research was conducted and its topic. The undertaken study analyzed the performance of the top 300 global Jeans Manufacturers and identified any trends thereof. The published report has two sections.
The first section of the report has a written analysis of several parameters for each company. Among other things, some of these parameters include the following.
The study aligned information from published sources and other industry-wide available data for jeans manufacturers to analyze in great detail. The 300 companies' in-depth analysis lead to the critical outcomes below.
The second section of the comprehensive report is for the graphical analysis of these parameters, giving a visual representation of the prevailing trends. These trends and their understanding are crucial for jeans manufacturers and their clients to work on their business strategies. Whether one should partner with any specific company, what to expect in the future for the denim industry, or what direction jeans manufacturers should take for business improvements are vital questions that the report can answer.
As the report goes into each company's details, several individual company-specific observations are presented. For example, the report identifies 55 companies out of 300 global jeans manufacturers showing a decline in financial rating. Another observation is that 22 of these organizations have had positive sales growth from the base year – 2018.
Business decisions based on these observations are the choice of the individual organization referred to in the report. Each organization is in a unique position in the overall industry and needs to make its specific choices. However, here, we outline a few key takeaways from the report that point towards the generic trends in the denim industry. These takeaways are essential from a collective perspective of jeans manufacturers rather than for a unique organization.
With the pandemic hitting the world through the last year, consumers were more inclined towards comfortable sweatpants. In a world of work-from-home and Zoom meetings, the focus was on tops rather than bottom wear. Thus, consumers were looking for more comfort-wear in the segment. It is when sweatpants became a preferred choice to denim. However, with the world opening and people beginning to travel, denim is making a comeback. This is nothing but good news for jeans manufacturers!
While skinny jeans have been the millennials' favorite for a long time, a year of comfort wear seems to be catching up. The skinny jeans are still a choice, but the regular and even baggy jeans are making a comeback! This was even evident during the fashion weeks, where many prominent designers showcased loose and baggy pieces of denim in everything from pants to jackets. All jeans manufacturers must be aware of this point, as it directly correlates to the supply requirements for the coming seasons.
The popularity of denim in the US is not a new idea. It has been the largest market for jeans for some time now. And the market is expected to grow to approximately $16.4 billion by 2026. However, the trend that jeans manufacturers need to keep an eye on is the rapid increase in demand from Asian countries like China and Japan. The projected market size for denim in China alone by 2026 stands at $18.4 billion. An opportunity, which most jeans manufacturers should look to capitalize.
Not a surprising trend, given the whole scenario of the pandemic. Still, the growth of online channels in the past year has been in the works for some time. The ease of purchase was always driving the popularity of online sales. The pandemic only helped to accelerate the trend. While the new age, tech-enabled companies are already leveraging the channel, the legacy jeans manufacturers must embrace this fast enough. The data and analysis in the report strongly support this strategy.
The one negative aspect of producing jeans that received importance in recent years is the impact on the environment. From the excessive water waste to the pollution caused by the dyes and chemicals used in the production process, the industry has been working towards finding alternatives. All jeans manufacturers are aware of the issue and its implication on sales. The analysis in the report concerning brand perception includes sustainability as a critical factor. Thus, efforts towards more sustainable methods of production need to be intensified. Whether it is working with plant-based dyes or improving processes to reduce water requirements, the task for jeans manufacturers is clearly cut out.
While working in the fashion industry can be exciting and fulfilling, it has its set of challenges. Whether it is the jeans manufacturers or the designers, anyone in the business needs to know the trends. When it is the need of the hour, it is terrific to have easy access to a vast network of suppliers and buyers who understand the requirements and provide options.
Fashinza is an online platform that provides precisely this network for all suppliers, designers, and other fashion industry members. Whether looking for raw material suppliers, jeans manufacturers, or similar industry information, Fashinza is the platform to check.