In India, the textile industry dates back several centuries, and it is considered to be one of the adored industries in the country.
Textile production has a tremendous range, from handspun and handwoven textiles on one end of the spectrum to advanced mills on the other end of the spectrum. Cotton is the most important raw material for textiles and the ancient culture and traditions of the country in the realm of textiles make it different from the country’s other industries.
Textiles have always been dominated by denim and by denim manufacturers in India. In addition to being a successful fashion fabric, it is also used extensively in accessories. Consequently, the denim market in India has undergone dramatic changes over time. The textile industry in India can produce a broad range of products tailored to diverse market segments within the country as well as internationally and the denim market is the one people are extremely fond of and come from cotton only.
Is the Indian denim fabric market currently growing and what is the landscape of the market?
Since denim is versatile, it has become increasingly popular with consumers and denim fabric supplier is fetching immense benefits from it. Indian households in tier 2, 3, and even tier 4 cities are now implementing it as well. They were the first in the metros and tier 1 cities to do so. Thus, the Indian denim industry is one of the most sophisticated industries of its kind.
Denim fabric sales will reach $130 billion in 2021 at a 4.6% annual growth rate, according to a market insight study. In terms of installed capacity, India is only second to China when it comes to denim fabric.
Considering retail sales, the denim wear market in India is anticipated to grow at a CAGR of 15% during the forecast period. The following factors are expected to encourage growth:
• An increase in disposable income
• The retail sector experiences rapid growth
• The nation is undergoing a westernization trend
• Retail sector on the rise
• The spending power of young people (15-29)
• Due to its comfort and style, denim appeals to a wide range of consumer segments
• Denim enjoys a preference among youth due to its versatility
• Women and youth are increasingly using denim products in smaller cities and rural India
With so many government initiatives to strengthen the nation’s textile sector, India’s denim industry is likely to reap the gains in the coming years as well, supported by various demand drivers for this market.
