Global Fashion
Market Report
2024
Fashion market size will be USD 742512.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 8.00% from 2024 to 2031.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global Fashion market size will be USD 742512.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 8.00% from 2024 to 2031.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Fashion Market Sales Revenue 2024 | $ 742512 Million |
Global Fashion Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 8% |
Middle East and Africa Fashion Market Sales Revenue 2024 | $ 14850.2 Million |
Middle East and Africa Fashion Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 7.7% |
South America Fashion Market Sales Revenue 2024 | $ 37125.6 Million |
South America Fashion Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 7.4% |
North America Fashion Market Sales Revenue 2024 | $ 297005 Million |
North America Fashion Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 6.2% |
Asia Pacific Fashion Market Sales Revenue 2024 | $ 170778 Million |
Asia Pacific Fashion Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 10% |
Europe Fashion Market Sales Revenue 2024 | $ 222754 Million |
Europe Fashion Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 6.5% |
Market Split by Type |
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Market Split by Application |
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Market Split by Sales Channel |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Report scope is customizable as we have a huge database of Fashion industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Fashion Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Fashion refers to the prevailing trends, styles, and choices in clothing, accessories, and appearance that are popular within a particular culture or society at a given time. It encompasses a wide range of elements, including clothing designs, colors, fabrics, and overall aesthetics, often influenced by factors such as culture, social status, and personal expression. The differing consumer preferences, the impact of social media influencers, the influence of celebrity endorsements, seasonal shifts in weather & climate, the rise in disposable income levels, innovations in materials, manufacturing processes, and e-commerce platforms, growing awareness of environmental and social issues, cultural events and increasing interconnectedness and cultural exchange between different regions and countries are the major factors influencing the growth of the Fashion Market.
The innovations in materials are creating a significant increase in global demand. Breakthroughs in sustainable and eco-friendly fabrics, such as recycled polyester or plant-based alternatives like Tencel, respond to growing environmental concerns, attracting conscientious consumers. Advanced textiles with performance-enhancing properties, like moisture-wicking or antibacterial features, cater to the demand for functional yet stylish activewear. Additionally, developments in smart fabrics embedded with technology, such as garments with integrated sensors for health monitoring or adjustable temperature control, offer novel experiences to tech-savvy consumers. These material innovations not only inspire creativity among designers but also influence purchasing decisions, reflecting an evolving landscape where sustainability, functionality, and innovation converge in fashion.
The impact of social media influencers aims to provide growth in the Market. Their ability to showcase trends, endorse brands, and provide styling tips directly to consumers has transformed the industry landscape. Through platforms like Instagram, TikTok, and YouTube, influencers can swiftly disseminate fashion content, driving consumer purchasing decisions and shaping brand perceptions. Their authentic storytelling and relatable content foster a sense of trust and connection with followers, leading to increased brand loyalty and sales. Consequently, brands collaborate with influencers for promotional campaigns, leveraging their reach to amplify brand visibility and credibility. Overall, social media influencers have become pivotal drivers of trends, consumer behavior, and market dynamics in the fashion industry.
The Fashion market faces challenges due to the rising production costs. Labor wages may rise due to demands for better working conditions and fair compensation. At the same time, material costs can fluctuate due to factors like scarcity of resources or geopolitical tensions affecting supply chains. Additionally, investments in sustainable practices and technologies to meet regulatory standards can also contribute to higher production costs. These rising costs put pressure on fashion brands and manufacturers to either absorb the expenses, leading to reduced profit margins or pass them on to consumers through higher prices, potentially impacting affordability and competitiveness in the market.
The fashion market experienced a varied impact. Lockdowns, social distancing measures, and economic uncertainty have led to decreased consumer spending on non-essential items like clothing and accessories. Retail stores faced closures while online sales surged, highlighting the importance of e-commerce in the industry. Brands and retailers had to adapt quickly by shifting their focus to loungewear, athleisure, and comfortable clothing suitable for remote work and stay-at-home lifestyles. Sustainability and ethical concerns have gained prominence as consumers become more conscious of their purchasing decisions. Overall, the pandemic has accelerated existing trends and reshaped the fashion market's landscape.
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The fashion market's competitive landscape is constantly evolving with established brands. Fast fashion, sustainability, and inclusive sizing are key areas driving competition and differentiation in the market.
Top Companies Market Share in Fashion Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
Global Fashion Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Fashion Industry growth. Fashion market has been segmented with the help of its Type, Application Sales Channel, and others. Fashion market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, footwear held the major market share over the forecast period. It encompasses a wide range of products, including sneakers, boots, sandals, and formal shoes, each targeting specific demographics and lifestyles. Consumers often seek footwear that combines style with comfort and functionality, driving trends towards athleisure and sustainable materials.
Headwear is the fastest-growing category over the forecast period. It includes hats, caps, beanies, and headbands, serving both practical and fashion purposes. Trends in headwear vary widely, from classic designs to street wear-inspired styles, often influenced by cultural and seasonal factors.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Fashion Industry. Request a Free Sample PDF!
According to Cognitive Market Research, men hold a prominent market share. Men's fashion tends to focus on practicality, versatility, and functionality, with an emphasis on tailored suits, casual wear, and accessories.
Women are the fastest-growing category over the forecast period. Women's fashion is often more diverse, with a wide range of styles, trends, and preferences ranging from formal attire to casual wear, evening gowns, and accessories like handbags and jewelry.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Fashion market report 2024 Edition by contacting our team.
According to Cognitive Market Research, offline stores hold a prominent market share. They typically prefer the traditional brick-and-mortar retail experience, where they can physically interact with products before making a purchase. They may also value personalized assistance from sales associates.
Online is the fastest-growing category over the forecast period. They prefer the convenience of shopping from their computers or mobile devices. They appreciate the wide selection, convenience, and often lower prices offered by online retailers. Additionally, online shoppers may be more inclined towards digital marketing and social media influence.
According to Cognitive Market Research, North America dominated the Market in 2024 and accounted for around 40% of the global revenue. It is due to the strong presence of established fashion brands as well as a thriving indie fashion scene. Factors such as changing consumer preferences, technological advancements, and sustainability concerns are shaping the market. E-commerce has become increasingly popular, with many consumers preferring online shopping for convenience and variety. Additionally, North America has a growing demand for sustainable and ethically produced fashion, leading to the rise of eco-friendly and socially responsible brands in the market.
The European region is witnessing an increase in fashion sales due to the diverse range of styles and trends across different regions. Western Europe tends to set global fashion trends and is home to many luxury brands. Northern Europe is known for its minimalist and sustainable fashion approach. Eastern Europe has a growing fashion scene of local designers and creative talent. Southern Europe is renowned for its vibrant and eclectic fashion sense. Overall, Europe's fashion market is dynamic and competitive, with each region contributing its unique flair to the global industry.
The current report Scope analyzes Fashion Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!
According to Cognitive Market Research, the global Fashion market size was estimated at USD 742512.2 Million, out of which the Middle East and Africa held the major Market of around 2% of the global revenue with a market size of USD 14850.24 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.7% from 2024 to 2031. MEA is experiencing an upswing in Fashion sales driven by rapid urbanization, a growing middle class with disposable income, increasing internet penetration leading to e-commerce growth, and a rising interest in fashion and luxury brands. Additionally, cultural influences and a youthful population contribute to the vibrant fashion scene in the region. Investments in infrastructure, such as shopping malls and retail outlets, also play a significant role in driving the fashion market forward.
According to Cognitive Market Research, the global Fashion market size was estimated at USD 742512.2 Million, out of which the Latin America market has more than 5% of the global revenue with a market size of USD 37125.61 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.4% from 2024 to 2031. Fashion sales in Latin America are experiencing growth due to the growing middle class with increasing disposable income, a young population with a strong interest in fashion trends, urbanization leading to greater access to global fashion brands, and the rise of e-commerce platforms making it easier for consumers to shop online. Additionally, cultural diversity and heritage play a significant role in shaping fashion preferences and styles across different countries in the region.
According to Cognitive Market Research, the global Fashion market size was estimated at USD 742512.2 Million, out of which North America held the major Market of more than 40% of the global revenue with a market size of USD 297004.88 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031. In North America, Fashion sales dominate due to consumer preferences, and trends play a significant role in shaping demand for clothing and accessories. Secondly, economic factors such as disposable income levels and employment rates impact consumer spending on fashion items. Thirdly, technological advancements, particularly in e-commerce and social media, drive changes in how consumers shop and interact with brands. Lastly, sustainability and ethical considerations are increasingly important factors influencing purchasing decisions in the fashion industry.
Country Analysis
According to Cognitive Market Research, the global Fashion market size was estimated at USD 742512.2 Million, out of which Asia Pacific held the Market of around 23% of the global revenue with a market size of USD 170777.81 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.0% from 2024 to 2031. The Asia Pacific region is experiencing growth due to rapid urbanization, rising disposable incomes, and a growing middle class fueling demand for trendy clothing and accessories. Additionally, increasing internet penetration and smartphone usage are driving the popularity of online shopping platforms. Moreover, the influence of social media and celebrity endorsements is shaping consumer preferences and driving sales. Furthermore, the region's diverse cultures and fashion-conscious population contribute to the dynamic growth of the market.
Cognitive Market Research shows a market value of USD 742512.2 million in 2024 and is projected to expand at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031. Europe accounted for a share of over 30% of the global market size of USD 222753.66 million. Consumer preferences and ds drive Europe's growth, which plays a significant role, with sustainability, inclusivity, and digitalization being major focuses. Additionally, economic factors such as disposable income levels and employment rates impact purchasing behavior. Furthermore, regulatory policies, trade agreements, and geopolitical events also shape the market dynamics. Lastly, technological advancements and innovations in materials, production processes, and distribution channels drive changes in the industry.
Research Analyst at Cognitive Market Research
I am a research analyst working in various domains including the Consumer Goods domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.
I am a research analyst working in various domains including the Consumer Goods domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.
I am committed to continuous learning and staying abreast of emerging trends in research methodologies. Regular participation in workshops, webinars, and industry conferences ensures that my skills remain sharp and relevant. I spearheaded research initiatives focused on market trends, customer behavior, and competitive landscapes. I have a demonstrated ability to transform complex data sets into clear and concise narratives that inform key business strategies. Collaborating with cross-functional teams, I played a pivotal role in shaping successful projects that hinged on robust research and analysis.
Table of Content differs accordign to the user License selction. Current Displayed TOC is for the Corporate User License Report Edition. TOC Customization options: Add or Remove section's Or chapter's from the report. Specific section's of report can be ordered at a discounted price. If applicable; On Request Volume Data will also be provided (at an Additional Cost).
Type | Footwear, Headwear, Clothing, Jewellery & Accessories, Bags, Others |
Application | Men, Women |
Sales Channel | Offline, Online |
List of Competitors | Nike, Adidas, Burberry Group PLC, Ralph Lauren Corporation, ASOS, Primark, The TJX Companies, PVH Corp., H&M Group |
This chapter will help you gain GLOBAL Market Analysis of Fashion. Further deep in this chapter, you will be able to review Global Fashion Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
Chapter 2 North America Market Analysis
Executive Summary North America Market (2019 vs 2024 vs 2031)
Purchase Add-Ons to Customize the Report Edition and get further granular data level data about the North America market. Add-On Cost: Request before placing the order, Respective Pricing will be informed after sending the inquiry
Qualitative Analysis for the North America Market: North America Fashion Market Trends North America Fashion Technological Road Map North America Fashion Market Drivers North America Fashion Market Restraints North America Fashion Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia-Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Application Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 12 Market Split by Sales Channel Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Fashion market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Footwear have a significant impact on Fashion market? |
What are the key factors affecting the Footwear and Headwear of Fashion Market? |
What is the CAGR/Growth Rate of Men during the forecast period? |
By type, which segment accounted for largest share of the global Fashion Market? |
Which region is expected to dominate the global Fashion Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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