THE INDIAN DENIM MARKET IN 2024: An Analytical Overview

The Indian denim market is poised for significant growth, with a projected compound annual growth rate (CAGR) of 15% from FY2023 to FY2028. By FY2028, the market size is expected to reach USD 7.82 billion...

The Indian denim market has shown consistent growth over the years and remains a key sector in the country's apparel industry. In the last decade, the market has evolved significantly, driven by changes in consumer preferences, rising disposable incomes, and the increasing influence of Western fashion trends.

Market Overview: Market Size & Projections

The Indian denim market has been a vibrant and dynamic sector, undergoing significant changes over the last decade.

From being a primarily casual wear fabric, denim has expanded into various categories such as semi-formal and even workwear.

Market Size & Growth (2018-2023)

The Indian denim market is poised for significant growth, with a projected compound annual growth rate (CAGR) of 15% from FY2023 to FY2028. By FY2028, the market size is expected to reach USD 7.82 billion.Denim has been a key segment in India's apparel industry, representing a 5% share of the apparel market in FY2022, with projections showing this share will rise to 7% by FY2028. The industry has witnessed steady growth over the years and is expected to maintain this upward trend moving forward.

Key Segments In The Indian Denim Market

The Indian denim market is highly segmented, with different product types, consumer demographics, price ranges, and regions.

contributing to the overall market dynamics. This detailed segmentation provides insights into the diverse preferences and buying behaviours Indian consumers.

a) Product Types

Denim products in India are available in various forms, catering to different fashion needs and preferences. The key product types within the market are:

•Jeans:

Denim jeans remain the most popular and widely consumed product type, accounting for nearly 70% of the total market in 2024.