According to the report released by clothing-purchasing publisher just-style.com, this increase is equivalent to selling more than 2 million jeans. The publisher expects the jeans retail market to grow 4.9% over the next five years, based on a $5.73 billion valuation this year.
It is expected that the United States will remain in the position of the world's largest jeans market, followed by China. The report found that nearly half of China's jeans production remained in the country, which is a significant increase from the data collected five years ago. The research site further estimates that about 22% of the jeans produced in China are traded outside the traditional retail market, “in exchange for goods or services, not money”.
Despite the shocking data from the US and China, the report found that the fastest growing markets are appearing elsewhere. According to Just-style.com, South America leads with a growth rate of 12.1%, while the value of “the rest of the world (all markets except North America, Europe, Turkey, Asia and South America) will increase by 19.7% during this period. .
In a press release, the authors of the report said that the global jeans market has benefited from its unique position as a trend-changing category that allows consumers to buy any jeans style they like without being out of touch with fashion. ".