India's denim industry today stands at a point where the rising price of cotton is fast eroding margins and businesses are forced to re-think operational procedures. In fact, retail intelligence and AI-driven data insights firm Edited reveals that denim is the most affected category due to the price inflation of cotton, which makes up over 90 per cent of the raw material used in its production. The price of raw cotton has more than doubled since 2020, leaving denim makers to innovate and turn towards a greater use of blended cotton.
What has come to the rescue of denim manufacturers and brands in the country is the rising demand for jeans and other denim-wear in spite of the hit the segment took due to the shift of consumers to lighter, more comfortable fabrics, largely as a consequence of the pandemic. The blended cotton jeans are increasingly becoming a favourite among Indian consumers who view them as the perfect amalgamation of comfort, style and long-term investment.
India's denim industry is now one of the fastest recovering segments of apparel post the pandemic, pegged to show a sustainable CAGR (Compound Annual Growth Rate) of 12 per cent. On the other hand, the global jeans market is expected to register a CAGR of 6.7 per cent over a five-year period (2020-2025), as revealed by global research company Mordor Intelligence. Data reveals that it is not just the burgeoning domestic market that is fuelling the return of denim but also the global market that is causing its resurgence.
Over the past 10 years, the total number of denim manufacturing mills in the organised sector has grown by as much as 60 per cent. The domestic consumption of the denim fabric produced in the country is between 850-900 million metres, while the rest is exported.
Driving Factors
この記事は Business Of Fashion の July 2022 版に掲載されています。
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この記事は Business Of Fashion の July 2022 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、8,500 以上の雑誌や新聞にアクセスしてください。
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