What are the latest figures on the circular fashion market’s size and projected CAGR?
The circular fashion market size has grown strongly in recent years. It will grow from $5.98 billion in 2024 to $6.53 billion in 2025 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to rising environmental concerns, stringent government regulations, an increasing younger population, an increase in urban consumers, and a rising focus on waste minimization.
The circular fashion market size is expected to see strong growth in the next few years. It will grow to $9.24 billion in 2029 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to celebrity endorsers and influencers, demand for eco-conscious apparel, sustainable production processes, eco-conscious choices, and the presence of major fashion brands. Major trends in the forecast period include advancements in textile recycling technology, product innovation, the adoption of blockchain technology, automated sorting technologies, and strategic partnerships.
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Which Market drivers have played a significant role in driving the circular fashion market?
The growing concern for the environmental and social impacts of the fashion industry is expected to propel the growth of the circular fashion market going forward. The rising concern for the environmental and social impacts of the fashion industry is driven by its excessive resource consumption, waste generation, and exploitation of labor, which harm ecosystems and communities. Circular fashion helps by promoting sustainable practices, such as recycling, upcycling, and extending the life of garments, thereby reducing waste and minimizing the industry’s environmental and social impacts. For instance, in August 2023, according to Northumbria University, a UK-based public research university, the fashion and textile industry is responsible for 8% of global greenhouse gas emissions and 20% of wastewater production. The industry consumes more energy than aviation and shipping combined, and its full environmental impact remains unclear due to its complexity and vast global reach. Therefore, the growing concern for the environmental and social impacts is driving the circular fashion market.
What are the key segments within the circular fashion market?
The circular fashionmarket covered in this report is segmented –
1) By Product Type: Apparel, Accessories, Footwear, Other Product Types
2) By Textile Source: Organic, Recycled, Reused, Natural Materials, Other Textile Sources
3) By Consumer Group: Millennials, Generation X, Generation Z, Baby Boomers, Other Consumer Groups
4) By Distribution Channel: Online, Offline, Other Distribution Channels
5) By End-Use: Men, Women, Kids, Unisex, Other End Users
Subsegments:
1) By Apparel: Tops, Bottoms, Outerwear (Jackets, Coats), Activewear, Underwear And Loungewear
2) By Accessories: Bags, Jewelry, Scarves And Hats, Belts
3) By Footwear: Sneakers, Boots, Sandals, Formal Shoes
4) By Other Product Types: Swimwear, Home Textiles, Sustainable Fashion Items
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Which key players are shaping the circular fashion market?
Major companies operating in the circular fashion market are Nike Inc., Industria de Diseno Textil S.A., Adidas Group, H&M Group, Fast Retailing Co. Ltd., Gap Inc., Hermes International S.A., VF Corporation, Guccio Gucci S.p.A., PUMA SE, Lululemon Athletica Inc., Ralph Lauren Corporation, Levi Strauss & Co., Prada S.p.A., Everlane Inc., Reformation, Eileen Fisher Inc., Patagonia Inc., Rothy’s Inc., Ecoalf Recycled Fabrics, SL, Stella McCartney Ltd., Outerknown LLC, LANIUS GmbH, MUD Jeans International B.V.
Which transformative trends will shape the circular fashion market landscape?
Major companies operating in the circular fashion market are focusing on developing advanced products with recycled polyester to reduce environmental impact and promote sustainable, closed-loop production processes. Recycled polyester is a sustainable fabric made by repurposing discarded plastic materials, such as polyethylene terephthalate (PET) bottles, into fibers for use in clothing and textiles, reducing waste and conserving resources compared to virgin polyester production. For instance, in April 2024, Lululemon, a Canada-based manufacturer of athletic apparel and accessories, launched the Packable Anorak jacket, made up from enzymatically recycled polyester. The anorak is created using a blend of materials, including mixed plastic waste, Lululemon apparel that has reached the end of its lifecycle, and carbon emissions captured during industrial processes. This innovative approach reflects a significant step towards textile-to-textile recycling.
How do regional factors impact the circular fashion market, and which region is the largest contributor?
North America was the largest region in the circular fashion market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the circular fashion market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Circular Fashion Market Report 2025 Offer?
The circular fashion market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Circular fashion refers to a sustainable model of clothing production and consumption that focuses on extending the life cycle of products. It emphasizes reuse, recycling, and designing garments for durability, minimizing waste and environmental impact. This approach promotes a closed-loop system where materials are continuously repurposed.
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