DENIM APPAREL MARKET OF INDIA

The high growth prospects in the denim category is characterised by the high fashion and comfort quotient in the category, increasing focus of stretch and light weight fabrics and increasing options in terms of fits, washes, detailing, amongst others...

- Pakhi Saxena, Head Retail CPG, Wazir Advisors

1. Denim Apparel Market of India - Overview

The Indian Denim Apparel market is exhibiting continuous growth over the years. With new technologies, trends and higher market reach, this sector has promising growth potential. Even in non-metro regions, denim is becoming highly fashionable with an increasing share of population opting denim wear over traditional outfits.

The Denim Apparel market of India was valued at USD 6.15 bn in FY2023 and expected to further grow at a CAGR of 14% over the 3 years to reach USD 9.15 bn by FY2026.

The high growth prospects in the denim category is characterised by the high fashion and comfort quotient in the category, increasing focus of stretch and light weight fabrics and increasing options in terms of fits, washes, detailing, amongst others.

2. Increasing Share of Women

While the growth in the denim apparel market of India can be witnessed across all consumer segments, women show the highest growth prospects. Women's denim apparel market is estimated to contribute to 14% of the overall denim apparel in FY2026, up from 11% in FY2023, driven by the increasing participation of women in the workforce, growing adoption of western-wear, emergence of fusion-wear/mix and match styles, etc.

3. Price Segmentation