Global Fast Fashion
Market Report
2024
The Global Fast Fashion market size is USD 99.6 billion in 2023 and will grow and expand at a growth rate or compound annual growth rate (CAGR) of 8.2% from 2023 to 2030.
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 Fast Fashion market size is USD 99.6 billion in 2023 and will grow and expand at a growth rate or compound annual growth rate (CAGR) of 8.2% from 2023 to 2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Fast Fashion Market Sales Revenue 2023 | $ 99.6 Billion |
Global Fast Fashion Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 8.2% |
Market Drivers: The increasing number of online sales channels will drive the fast fashion industry |
Market Split by Age |
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Market Split by End User |
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Market Split by Distribution Channel |
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Market Split by Product Type |
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Market Split by Price Range |
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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 Fast Fashion industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Fast Fashion Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Higher media innovations, higher quick fashion expenditure, a growing young population, and the expansion of developing countries are expected to drive growth in the Global quick Fashion Market. The expanding young population's need for inexpensive apparel drives the Fast Fashion Market. Fast Fashion has risen as a result of "out-of-the-box thinking that deviates from convention," including a shift from scheduled manufacturing to quick reaction manufacturing, a shift from local enterprise to worldwide operations, a shift from adhering to trends to originating trends, and a move from media-centric advertising to spatial promotional activities. Fast Fashion has several advantages, including shorter manufacturing times, more styles, and lower numbers. The negatives of fast Fashion include product imitation and deceptive pricing.
For instance, According to the United Nations, there were 1.2 billion young adults in the world in 2019, with a 7.9% growth to 1.3 billion by 2030.
Increasing social media usage will likely fuel the fast fashion industry throughout the forecast period. Around the world, social media usage is continuously expanding. Through their social feed, social media outlets link influencers & fashion icons to people, and people learn about fashion trends and other aspects. These individuals then utilize social media to make transactions as well.
By April 2022, ads on any existing platform will be virtually 100% inescapable. While apps were first designed as a social network for connecting with friends, they have since evolved into a more curated, ad-targeted approach. Instagram, for example, rearranged its familiar user experience to replace creator portals with algorithm-based commerce. Similar approaches are possible.
(Source:www.searchenginejournal.com/10-new-social-media-platforms-apps-to-have-on-your-radar/457629/)
Social media is always pushing downloadable stuff to its users. Zara, Urban Outfitters, and SHEIN, among the most popular fashion retailers, replicate new pieces from big fashion designers produced inexpensively for the public, manufacturing whole new stock for their stores virtually every week. Growth in social media and new integrated product offers will favorably impact the quick fashion sector.
Fashion garment manufacturers are investing in Virtual Reality (VR) and Augmented Reality (AR) technologies to merge the real and online selling worlds.
For example, in June 2019, the US retail giant Amazon released a virtual fitting room app, allowing customers to try on garments before purchasing them. In addition, online fashion store ASOS developed a 'Virtual Catwalk,' a video service that allows customers to see apparel products on moving models using augmented reality.
Customers may virtually test on clothes thanks to a customized measuring feature that uses AR technology. This makes online purchasing more engaging, dynamic, and enjoyable. It also assists in attracting more traditional customers to online shopping sites. Buyers may view the product themselves before purchasing it using these technologies.
Employees in the fashion industry, especially women (who constitute about 80% of all garment workers worldwide), are underpaid. Women are also susceptible to workplace harassment. In addition, female garment workers in Asia's main fast fashion firms face abuse and harassment, including poor working conditions, inadequate compensation, and overtime, all leading to inefficiency. As a result, most individuals will not want to work in the fashion industry. As a result, inadequate compensation and working conditions impede the expansion of the Fast Fashion Market.
Growth in the historical era was driven by increased foreign direct investments, growth in developing markets, expansion in media development, technological advancements, and urbanization. The influence of COVID-19, counterfeit products, reductions in free trade, severe competition, and increased inventory levels had a detrimental impact on growth throughout the historical era.
We have various report editions of Fast Fashion Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.
The market for Fast Fashion is a highly dynamic and diversified competitive environment. It includes various suppliers, ranging from large multinational enterprises to smaller specialized organizations. Market participants are also undertaking various organic or inorganic strategic approaches to strengthen and expand their global footprint, with significant market developments including new Material portfolios, contractual deals, mergers and acquisitions, capital expenditure, higher investments, and strategic alliances with other organizations. Businesses are also coming up with marketing strategies such as digital marketing, social media influencing, and content marketing to increase their scope of profit earnings. Because of automation and technological advancement, businesses compete fiercely to deliver innovative products.
(Source:fashionunited.uk/news/fashion/first-look-mango-x-chufy/2021051755509)
Top Companies Market Share in Fast 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.
According to Cognitive Market Research, North America dominated the market in 2023 and accounted for a share of more than 38% of the Worldwide revenue due to several variables. The North American region dominates the market for Fast Fashion. The rising popularity of quick fashion and thrift shopping among young people is fuelling the region's desire for rapid Fashion. It is one of the most important marketplaces for quick Fashion. Some multinational corporations that have offshored their manufacturing to reduce costs are also running short-run and replenishment facilities in the region to respond to the retail industry's quick-changing trends and to make rapid clothes. Leading firms are implementing new technology and automating their supply chains. These are the reasons influencing regional market expansion.
Given their education and exposure to technology and media, APAC's youthful population is naturally predisposed to accept and explore new trends. This backdrop revealed a home consumption opportunity in the shape of organizational retail, branded behavior, and product designs. This will force the fast fashion industry to develop quickly, providing a profitable chance for the business to flourish in the next years. Major manufacturers' presence, greater investment, and expanding output drive market expansion in this area. Growing living standards, rising disposable income, Social Media Influencers, increased awareness of quick clothes, and expanding population in countries such as China, Japan, and India are driving the expansion of the Asian quick Fashion industry.
The current report Scope analyzes Fast 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!
Global Fast 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 Fast Fashion Industry growth. Fast Fashion market has been segmented with the help of its Age, End User Distribution Channel, and others. Fast 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, adults' increased need for unusual, stylish, and other economical clothing might become excellent sources of revenue for fast Fashion, which is gaining popularity worldwide. As a result, various garment manufacturing enterprises focus on providing fashion clothes from the most recent fashion trends, often displayed during fashion week.
Due to developing teenage fashion trends and an increasing teen population, the teenage wear category is predicted to be the fastest-growing section in the fast fashion industry in the future.
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 Fast Fashion Industry. Request a Free Sample PDF!
Women are more prone to obsessive buying than men and children because they value shopping more than males. Women enjoy shopping as a hobby because they are interested in quick fashion trends, which motivates them to purchase. Women appreciate the shopping experience, and while purchasing fast fashion apparel is not based on cost, the consumption of items is unquestionably expensive and is not a major concern.
According to Cognitive Market Research, the male segment is estimated to rise significantly during the projection period. Rising awareness and trends in males will likely boost category growth over the forecast period.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Fast Fashion market report 2024 Edition by contacting our team.
According to Cognitive Market Research, the offline channel held the highest share of the market. The most common consumer tradition has been assessing the product, touching the object, attractiveness, and size. Parking space, flexible operating hours, and the development in urbanization are fueling demand for the offline channel. AR and VR are being introduced novelly in the offline market. Allowing customers to test on avatar costumes. These reasons are propelling the segment's market expansion.
The online category is expected to increase at the quickest rate throughout the projection period. Pandemic, expanding sales, rising need for convenience, and increased discounts and offers are some of the primary drivers driving online's rapid expansion as a preferred distribution channel. Fast fashion companies such as H&M, Zara, and Chanel have used digital strategies to extend their consumer base, and this trend is projected to continue as income from online and total e-commerce expands in the future years.
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.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Fast Fashion Market is witnessing significant growth in the near future.
In 2023, the Adults wear segment accounted for noticeable share of global Fast Fashion Market and is projected to experience significant growth in the near future.
The Men segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Allen Solly , Bershka and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Because of declining sales and changing consumer preferences, Bestseller is discontinuing its Indian ethnic apparel line, Indifusion. The business, which is well-known for its Western brands like Jack and Jones, acquired Indifusion during the pandemic but found it difficult to comprehend and function in the Indian apparel industry. The fall in traditional attire is part of a larger trend where customers are choosing more comfortable, adaptable apparel for a variety of settings. The popularity of fusion clothing, which blends traditional and modern forms, is rising.
After over thirteen years of operation, Zara has made a name for itself in the Indian fashion industry. According to insiders, Inditex, the company that owns Zara, is thinking of expanding its Zara home and Bershka brands into India. According to their most recent annual report, "Zara Home will open in Bangalore, and Bengaluru Palladium will host the opening of Bertha's first store." With its new product, Bershka, it will go head-to-head with Reliance Retail's Yousta, which also caters to younger consumers. In its most recent annual report, the company stated that Zara Home would launch in Bangalore and Bershka would establish its first store in Mumbai Palladium.
Disclaimer:
Age | Adults wear, Teens wear, Kids wear, Others |
End User | Men, Women, Children |
Distribution Channel | Online, Offline |
Product Type | Clothing, Footwear, Accessories, Others |
Price Range | Low, Medium, High |
List of Competitors | Allen Solly, Arcadia, Bershka, Bestseller International, Boohoo Group, C&A, Charlotte Russe, Cotton On Group, Debenhams, Levi Strauss & Co, Esprit, Fast Retailing Group, Forever 21, H&M Group, Zara, Diesel, Future Lifestyle Fashions Ltd, Gap, Jack Wills, L Brands, Mango, Miss Selfridge, MoroZoni, New Look, NewYorker, Primark, Pull & Bear, River Island, rue21, Topshop, United Arrows Ltd, Wrangler |
This chapter will help you gain GLOBAL Market Analysis of Fast Fashion. Further deep in this chapter, you will be able to review Global Fast Fashion Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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 Fast Fashion Market Trends North America Fast Fashion Technological Road Map North America Fast Fashion Market Drivers North America Fast Fashion Market Restraints North America Fast Fashion Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
You can purchase only the Executive Summary North America Market (2019 vs 2024 vs 2031)
Chapter 3 Europe Market Analysis
You can purchase only the Executive Summary Europe Market (2019 vs 2024 vs 2031)
Chapter 4 Asia-Pacific Market Analysis
You can purchase only the Executive Summary Asia Pacific Market (2019 vs 2024 vs 2031)
Chapter 5 South America Market Analysis
You can purchase only the Executive Summary South America Market (2019 vs 2024 vs 2031)
Chapter 6 Middle East and Africa Market Analysis
You can purchase only the Executive Summary Middle East and Africa Market (2019 vs 2024 vs 2031)
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.
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.
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.
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 Age Analysis 2019 -2031, will provide market size split by Age. 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 Age Analysis 2019 -2031
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Chapter 11 Market Split by End User Analysis 2019 -2031
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Chapter 12 Market Split by Distribution Channel Analysis 2019 -2031
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Chapter 13 Market Split by Product Type Analysis 2019 -2031
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Chapter 14 Market Split by Price Range Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Fast Fashion market
Chapter 15 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 Adults wear have a significant impact on Fast Fashion market? |
What are the key factors affecting the Adults wear and Teens wear of Fast 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 Fast Fashion Market? |
Which region is expected to dominate the global Fast 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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