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Global Denim Industry to Grow by $14M by 2024, Thanks to One Innovation

The denim industry’s push for sustainability isn’t just a benefit for the environment—it’s also a value boost for the industry itself.

The global denim jeans market was worth an estimated $66 billion in 2018. According to a report from Technavio, a global technology research and advisory company, the global denim jeans market is expected to grow by more than $14 million by 2024.

And much of the growth can be attributed to the industry’s adoption of organic cotton.

As the market of ethical and health-conscious consumers expands, so does the demand for more sustainable fabric. Global production of organic cotton increased 56 percent in the 2017-2018 crop year—the largest output of organic cotton since the recession.

The report also showed exactly which regions can expect the biggest growth. Japan, China and India will likely lead the region through 2024 as a result of the countries’ rise in promotional activities within the denim market. In 2019, the Asia/Pacific region led the market, followed by North America, Europe, South America, and the Middle East as a response to the introduction of global brands and an emphasis on premium denim.

“Product premiumization, high influence of celebrity endorsements on customer purchase and growing strategic alliances are some other key factors that are expected to boost the denim jeans market growth during the forecast period,” a senior analyst at Technavio said.

Researchers are confident organic cotton and sustainability will have a positive impact on market growth from 2020-2024.

Recently, a number of companies have doubled down on their use of organic cotton. This year, Cone Denim introduced its Organic Cotton Capsule collection of denim fabrics and Taylor Stitch teamed with Isko to introduce the brand’s first 100 percent organic cotton jean.

Similarly, brands are reinforcing their commitments to responsible production efforts and unveiling more sustainable collections to meet consumers’ needs. According to a report from Edited, new retail products described as “sustainable” have increased by 125 percent since 2017. Diesel recently launched a sustainable capsule collection with Coca-Cola, and Frame debuted a sustainable denim line that it plans to expand upon in the coming year.