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Asia Pacific seen to lead revival of jeans industry Louise Maureen Simeon
MANILA, Philippines Emerging markets in the Asia Pacific (AsPac) will significantly contribute to the apparel market’s comeback, according to a leading data and analytics company in the UK.
GlobalData said AsPac emerging markets are set to play a crucial role in the revival of the global jeans market.
EMs in the region include China, India, Indonesia, Korea, Malaysia, Pakistan, Philippines, Taiwan and Thailand.
The global jeans market grew at an annual rate of 0.5 percent between 2014 and 2019 to hit $74 billion.
However, global lockdowns due to the pandemic led to store closures, which dampened the overall apparel spend, including denim jeans, as lifestyles changed and people were stuck at home.