Quick Summary:
In an increasingly dynamic and accessible fashion industry, the global fast fashion market sees societies around the world joining the current trend. This report provides an in-depth analysis of the changing dynamics of the market, outlining key aspects from the broad range of materials used to the main types of fast fashion such as pants, coats, and skirts, offering valuable market insights for key decision-makers.
The market's significant growth prospects are driven by the increasing adoption of affordable clothes by the rising youth population. However, the growth is tempered by crucial challenges such as low workers' wages and poor working conditions in the sector. Nevertheless, technological trends like virtual and augmented reality are revolutionizing the shopping experience for consumers, enhancing both online and offline channels. In the complex landscape of the fast-fashion market, nuanced comprehension of these factors is integral to formulating successful business strategies. This report serves as an authoritative source, offering a holistic perspective of the vital metrics impacting the fast-fashion industry at present and its future projections.
The global fast fashion market will grow from $106.42 billion in 2022 to $122.98 billion in 2023 at a compound annual growth rate (CAGR) of 15.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The fast fashion market is expected to grow to $184.96 billion in 2027 at a CAGR of 10.7%.
The fast fashion market consists of sales of polyester, acrylic, and nylon. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Fast fashion refers to a strategy to the design, development, and marketing of apparel designs that places an emphasis on giving consumers access to fashion trends fast and affordably. Fast fashion means garments that move quickly from the catwalk to the stores to meet the new trends. Fast fashion clothing collections are supported by the foremost recent fashion trends presented at Fashion Week.
Western Europe was the largest region in the fast fashion market in 2022. Asia Pacific was the second largest region in the fast fashion market. The regions covered in the fast-fashion market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of fast fashion are pants, coat, skirt and others. Skirt is defined as the garment worn by women and girls that are secured around the waist and hang down around the legs. It is available in different genders such as women's wear, men's wear and various age including adult’s wear, teens wear, kids wear and others.
Increasing adoption of affordable clothes by the rising youth population drove the fast fashion market. According to the United Nations estimates of the world’s youth population, in 2019 the youth population totalled 1.2 billion and it’s projected to grow by 7.9% to 1.3 million by 2030. The youth population is attracted to unique, trendy, and affordable clothes. The apparel manufacturing companies are therefore focusing on bringing fashion clothes from the most recent fashion trends presented in fashion week. The growing preference for affordable fast fashion clothes by the increasing youth population boosted the fast fashion market.
Worker's low living wages and poor working conditions hamper the growth of fast fashion. In the fashion industry, the workers, women especially (women represent nearly 80% of the world’s garment workers), are paid very less. Women also face workplace abuses. According to the Global Labour Justice report, female garment workers in top companies of fast fashion in Asia face exploitation and mistreatment which includes poor conditions of work, low salaries, and overtime which leads to a lack of efficiency. By this, most people will not prefer the fashion industry to work. Therefore, low wages and terrible working conditions are affecting the growth of the fast fashion market.
Virtual and augmented reality is being used by online and offline retailers in the fast fashion market. The use of virtual or augmented reality in the fast fashion market is to fill the gap between online and offline channels. These technologies enable the customer to try the product and see how it looks when they try the clothes or make-up on them by using virtual reality mirrors or cameras in their smart phones. For instance, applications such as Dressing Room are using augmented reality technology to enable shoppers to try outfits on an avatar. Virtual and augmented reality enhances in-store experience and this is driving the market for fast fashion.
The countries covered in the fast fashion market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values - that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The fast-fashion market research report is one of a series of new reports that provides fast-fashion market statistics, including fast-fashion industry global market size, regional shares, competitors with a fast-fashion market share, detailed fast-fashion market segments, market trends and opportunities, and any further data you may need to thrive in the fast-fashion industry. This fast-fashion market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Major players in the fast fashion market are Zara (Inditex), H&M Group, Fast Retailing (Uniqlo), Gap, Forever 21, Mango, Esprit, Primark, New Look, and River Island.
This product will be delivered within 1-3 business days.
The fast fashion market consists of sales of polyester, acrylic, and nylon. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Fast fashion refers to a strategy to the design, development, and marketing of apparel designs that places an emphasis on giving consumers access to fashion trends fast and affordably. Fast fashion means garments that move quickly from the catwalk to the stores to meet the new trends. Fast fashion clothing collections are supported by the foremost recent fashion trends presented at Fashion Week.
Western Europe was the largest region in the fast fashion market in 2022. Asia Pacific was the second largest region in the fast fashion market. The regions covered in the fast-fashion market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of fast fashion are pants, coat, skirt and others. Skirt is defined as the garment worn by women and girls that are secured around the waist and hang down around the legs. It is available in different genders such as women's wear, men's wear and various age including adult’s wear, teens wear, kids wear and others.
Increasing adoption of affordable clothes by the rising youth population drove the fast fashion market. According to the United Nations estimates of the world’s youth population, in 2019 the youth population totalled 1.2 billion and it’s projected to grow by 7.9% to 1.3 million by 2030. The youth population is attracted to unique, trendy, and affordable clothes. The apparel manufacturing companies are therefore focusing on bringing fashion clothes from the most recent fashion trends presented in fashion week. The growing preference for affordable fast fashion clothes by the increasing youth population boosted the fast fashion market.
Worker's low living wages and poor working conditions hamper the growth of fast fashion. In the fashion industry, the workers, women especially (women represent nearly 80% of the world’s garment workers), are paid very less. Women also face workplace abuses. According to the Global Labour Justice report, female garment workers in top companies of fast fashion in Asia face exploitation and mistreatment which includes poor conditions of work, low salaries, and overtime which leads to a lack of efficiency. By this, most people will not prefer the fashion industry to work. Therefore, low wages and terrible working conditions are affecting the growth of the fast fashion market.
Virtual and augmented reality is being used by online and offline retailers in the fast fashion market. The use of virtual or augmented reality in the fast fashion market is to fill the gap between online and offline channels. These technologies enable the customer to try the product and see how it looks when they try the clothes or make-up on them by using virtual reality mirrors or cameras in their smart phones. For instance, applications such as Dressing Room are using augmented reality technology to enable shoppers to try outfits on an avatar. Virtual and augmented reality enhances in-store experience and this is driving the market for fast fashion.
The countries covered in the fast fashion market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values - that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The fast-fashion market research report is one of a series of new reports that provides fast-fashion market statistics, including fast-fashion industry global market size, regional shares, competitors with a fast-fashion market share, detailed fast-fashion market segments, market trends and opportunities, and any further data you may need to thrive in the fast-fashion industry. This fast-fashion market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Major players in the fast fashion market are Zara (Inditex), H&M Group, Fast Retailing (Uniqlo), Gap, Forever 21, Mango, Esprit, Primark, New Look, and River Island.
This product will be delivered within 1-3 business days.
Frequently Asked Questions about the Global Fast Fashion Market
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| Report Attribute | Details |
|---|---|
| No. of Pages | 175 |
| Published | February 2023 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value ( USD | $ 122.98 billion |
| Forecasted Market Value ( USD | $ 184.96 billion |
| Compound Annual Growth Rate | 10.7% |
| Regions Covered | Global |
Table of Contents
1. Executive Summary2. Fast Fashion Market Characteristics
3. Fast Fashion Market Trends And Strategies
4. Fast Fashion Market - Macro Economic Scenario
4.1 COVID-19 Impact On Fast Fashion Market
4.2 Ukraine-Russia War Impact On Fast Fashion Market
4.3 Impact Of High Inflation On Fast Fashion Market
5. Fast Fashion Market Size And Growth
5.1. Global Fast Fashion Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Fast Fashion Forecast Market, 2022 - 2027F, 2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Fast Fashion Market Segmentation
6.1. Global Fast Fashion Market, Segmentation By Gender, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
- Women's wear
- Men's wear
- Adults wear
- Teens wear
- Kids wear
- Other Ages
- Pants
- Coat
- Skirt
- Other Types
7.1. Global Fast Fashion Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
7.2. Global Fast Fashion Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
8. Asia-Pacific Fast Fashion Market
8.1. Asia-Pacific Fast Fashion Market Overview
- Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.3. Asia-Pacific Fast Fashion Market, Segmentation By Age, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
9. China Fast Fashion Market
9.1. China Fast Fashion Market Overview
9.2. China Fast Fashion Market, Segmentation By Gender, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F,$ Billion
9.3. China Fast Fashion Market, Segmentation By Age, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F,$ Billion
10. India Fast Fashion Market
10.1. India Fast Fashion Market, Segmentation By Gender, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
10.2. India Fast Fashion Market, Segmentation By Age, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
11. Japan Fast Fashion Market
11.1. Japan Fast Fashion Market, Segmentation By Gender, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
11.2. Japan Fast Fashion Market, Segmentation By Age, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
12. Australia Fast Fashion Market
12.1. Australia Fast Fashion Market, Segmentation By Gender, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
12.2. Australia Fast Fashion Market, Segmentation By Age, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
13. Indonesia Fast Fashion Market
13.1. Indonesia Fast Fashion Market, Segmentation By Gender, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
13.2. Indonesia Fast Fashion Market, Segmentation By Age, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
14. South Korea Fast Fashion Market
14.1. South Korea Fast Fashion Market, Segmentation By Gender, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
14.2. South Korea Fast Fashion Market, Segmentation By Age, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
15. Western Europe Fast Fashion Market
15.1. Western Europe Fast Fashion Market Overview
15.2. Western Europe Fast Fashion Market, Segmentation By Gender, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
15.3. Western Europe Fast Fashion Market, Segmentation By Age, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
16. UK Fast Fashion Market
16.1. UK Fast Fashion Market, Segmentation By Gender, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
16.2. UK Fast Fashion Market, Segmentation By Age, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
17. Germany Fast Fashion Market
17.1. Germany Fast Fashion Market, Segmentation By Gender, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
17.2. Germany Fast Fashion Market, Segmentation By Age, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
18. France Fast Fashion Market
18.1. France Fast Fashion Market, Segmentation By Gender, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
18.2. France Fast Fashion Market, Segmentation By Age, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
19. Eastern Europe Fast Fashion Market
19.1. Eastern Europe Fast Fashion Market Overview
19.2. Eastern Europe Fast Fashion Market, Segmentation By Gender, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
19.3. Eastern Europe Fast Fashion Market, Segmentation By Age, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
20. Russia Fast Fashion Market
20.1. Russia Fast Fashion Market, Segmentation By Gender, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
20.2. Russia Fast Fashion Market, Segmentation By Age, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
21. North America Fast Fashion Market
21.1. North America Fast Fashion Market Overview
21.2. North America Fast Fashion Market, Segmentation By Gender, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
21.3. North America Fast Fashion Market, Segmentation By Age, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
22. USA Fast Fashion Market
22.1. USA Fast Fashion Market Overview
22.2. USA Fast Fashion Market, Segmentation By Gender, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
22.3. USA Fast Fashion Market, Segmentation By Age, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
23. South America Fast Fashion Market
23.1. South America Fast Fashion Market Overview
23.2. South America Fast Fashion Market, Segmentation By Gender, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
23.3. South America Fast Fashion Market, Segmentation By Age, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
24. Brazil Fast Fashion Market
24.1. Brazil Fast Fashion Market, Segmentation By Gender, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
24.2. Brazil Fast Fashion Market, Segmentation By Age, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
25. Middle East Fast Fashion Market
25.1. Middle East Fast Fashion Market Overview
25.2. Middle East Fast Fashion Market, Segmentation By Gender, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
25.3. Middle East Fast Fashion Market, Segmentation By Age, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
26. Africa Fast Fashion Market
26.1. Africa Fast Fashion Market Overview
26.2. Africa Fast Fashion Market, Segmentation By Gender, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
26.3. Africa Fast Fashion Market, Segmentation By Age, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
27. Fast Fashion Market Competitive Landscape And Company Profiles
27.1. Fast Fashion Market Competitive Landscape
27.2. Fast Fashion Market Company Profiles
27.2.1. Zara (Inditex)
27.2.1.1. Overview
27.2.1.2. Products and Services
27.2.1.3. Strategy
27.2.1.4. Financial Performance
27.2.2. H&M Group
27.2.2.1. Overview
27.2.2.2. Products and Services
27.2.2.3. Strategy
27.2.2.4. Financial Performance
27.2.3. Fast Retailing (Uniqlo)
27.2.3.1. Overview
27.2.3.2. Products and Services
27.2.3.3. Strategy
27.2.3.4. Financial Performance
27.2.4. Gap
27.2.4.1. Overview
27.2.4.2. Products and Services
27.2.4.3. Strategy
27.2.4.4. Financial Performance
27.2.5. Forever 21
27.2.5.1. Overview
27.2.5.2. Products and Services
27.2.5.3. Strategy
27.2.5.4. Financial Performance
28. Key Mergers And Acquisitions In The Fast Fashion Market
29. Fast Fashion Market Future Outlook and Potential Analysis
30. Appendix
30.1. Abbreviations
30.2. Currencies
30.3. Historic And Forecast Inflation Rates
30.4. Research Inquiries
30.5. About the Publisher
30.6. Copyright And Disclaimer
Executive Summary
Fast Fashion Global Market Report 2023 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on fast fashion market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
- Assess the Russia - Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
Scope
Markets Covered
1) By Gender: Women's wear; Men's wear2) By Age: Adults wear; Teens wear; Kids wear; Other Ages
3) By Type: Pants; Coat; Skirt; Other Types
Companies Mentioned: Zara (Inditex); H&M Group; Fast Retailing (Uniqlo); Gap; Forever 21
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
A selection of companies mentioned in this report includes:
- Zara (Inditex)
- H&M Group
- Fast Retailing (Uniqlo)
- Gap
- Forever 21
- Mango
- Esprit
- Primark
- New Look
- River Island
- C&A
- Cotton On
- Topshop
- Pull & Bear
- Bershka
- rue21
- Miss Selfridge
- Charlotte Russe
- Bestseller
- NewYorker
- L Brands
- Arcadia
- Future Lifestyle Fashions Ltd.
Methodology
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