The Fast Fashion Global Market Report 2023 by The Business Research Company, provides fast fashion market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-yearforecast period – 2023-2032.
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According to The Business Research Company’s Fast Fashion Global Market Report 2023, the market size 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, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global fast fashion is expected to grow to $184.96 billion in 2027 at a CAGR of 10.7%.
Increasing adoption of affordable clothes by the rising youth population drove the fast fashion market.
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The fast fashion market is segmented:
1) By Gender: Women’s wear, Men’s wear
2) By Age: Adults wear, Teens wear, Kids wear, Other Ages
3) By Type: Pants, Coat, Skirt, Other Types
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.
Top Major Players
Zara (Inditex),
H&M Group,
Fast Retailing (Uniqlo),
Gap,
Forever 21
The fast fashion market report table of contents includes:
- Executive Summary
- Fast Fashion Market Characteristics
- Fast Fashion Market Trends And Strategies
- Fast Fashion Market – Macro Economic Scenario
- Fast Fashion Market Size And Growth
- Fast Fashion Market Segmentation
- Fast Fashion Market Regional And Country Analysis
………….
- Key Mergers And Acquisitions In The Fast Fashion Market
- Fast Fashion Market Future Outlook and Potential Analysis
- Appendix
List Of Tables
Table 1: Global Historic Market Growth, 2017-2022, $ Billion
Table 2: Global Forecast Market Growth, 2022 – 2027F, 2027F, 2032F, $ Billion
Table 3: Global Fast Fashion Market, Segmentation By Gender, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
Table 4: Global Fast Fashion Market, Segmentation By Age, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
Table 5: Global Fast Fashion Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2027F, 2032F, $ Billion
……..
Table 46: Zara (Inditex) Financial Performance
Table 47: H&M Group Financial Performance
Table 48: Fast Retailing (Uniqlo) Financial Performance
Table 49: Gap Financial Performance
Table 50: Forever 21 Financial Performance
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