PUBLISHER: Allied Market Research | PRODUCT CODE: 1266541
PUBLISHER: Allied Market Research | PRODUCT CODE: 1266541
The upcycled denim products market size was $392.5 million in 2021 and is estimated to reach $838.6 million by 2031, registering a CAGR of 7.9% from 2022 to 2031. Upcycled denim products are made by using existing denim products that are discarded or not used in daily life. Upcycling is a creative process where waste is looked at as a resource. Materials are reused in a clever way, giving them a second life and function. There are different types of upcycled denim products such as apparel, home goods, and other upcycled denim products offered by the manufacturers.
With the improvement in economic conditions, consumers in developing as well as developed countries are inclining toward sustainable and environment-friendly products, which is a key factor that contributes to the growth of the market. An increase in per capita disposable income enhances the spending capacity of consumers, leading to a rise in expenditure on innovative and premium upcycled denim, which is expected to propel the growth of the global upcycled denim market. The rise in spending capacity is further anticipated to improve the standard of living, enabling consumers to buy high-quality, fashionable upcycled denim, which in turn, boosts the demand for upcycled denim products. In addition, the high adoption of western culture and quick acceptance of fashionable and sustainable clothes in developing regions, including Asia-Pacific and LAMEA further drive the growth of the global upcycled denim products market.
Denim is one of the most common fabrics used in the production of apparel such as jeans, jackets, shorts, shirts, and others. According to a study, approximately 2,900 liters of water, along with huge volumes of chemicals and energy, is consumed in the production of a single pair of jeans which causes environmental damage. Since huge volumes of denim jeans are produced and consumed annually, the environmental concerns associated with their production are also very high. However, the increased awareness of denim upcycling has paved the way for using denim materials in denim product production. With the rising awareness about upcycled denim products, consumers are inclined toward the upcycled denim product, which is expected to propel the growth of the market in the upcoming years.
Online retail platform is the major driver for the global upcycled denim products market. Presently, numerous retailers are associating or having web-based retail stores where consumers can gain information about manufacturers and their products. An increase has been witnessed in the number of online shoppers, owing to the availability of varied product options and price comparison on online shopping sites. This is useful for retailers due to zero expenditure on physical outlets or stores. One of the major reasons behind consumers preferring online shopping online is that they can read reviews provided by other users, and compare various stores, products, and prices by different sellers. Furthermore, an increase in e-commerce sales, improvement in logistics services, ease in payment options, and the facility to enter new international markets by major brands significantly contribute toward the growth of the global market.
Rapid digitization is causing the apparel sector to grow exponentially. Promotional initiatives and campaigns, whether online or offline, are increasing the demand for sustainable and upcycled denim apparel among consumers. The market for upcycled denim products is being stimulated by advertisements, celebrity endorsement deals, fashion shows, and other promotional activities. Similar to how seamless wood has revolutionized furniture, recycled and upcycled apparel is becoming a new fashion trend. Future market expansion in the textile and fashion industry is expected to create opportunities for manufacturers in the upcoming years.
It is challenging to ignore the significance of influencers, particularly the micro-influencers who produce more logical and resonant content. Because of their relatability, they have developed a genuine and devoted following that values their fashion and lifestyle judgments. In order to have a real presence in the social media community where they are in touch with their customers, brands are looking for this friendship between the two. Social media platforms assist in creating a more direct link between businesses and consumers, removing barriers to communication. Additionally, it helps a brand become more consumer-friendly and generate new products. The ability to communicate directly with customers is further fostering the market's expansion.
According to the market analysis, the global upcycled denim products market is segmented into product type, price point, distribution channel, and region. Based on material, the market is divided into apparel, home goods, and others. As per price point, the market is divided into mass and premium. On the basis of distribution channel, the market is classified into specialty store, online retail, and others. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, Spain, UK, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, UAE, Argentina, and rest of LAMEA).
Some of the key players profiled in the upcycled denim products market analysis include: E.L.V. Denim, Re/Done, EB DENIM, Blue of a kind, dwijproducts, Raw Materials Amsterdam, RUDA PATRICE, Smoke Wear, Ullisu, REMU APPAREL, Orta, INDUSTRY OF ALL NATIONS, DenimX, Crystal International Group Limited, and ROSTAING