DUBLIN, April 22, 2022 (GLOBE NEWSWIRE) — Added the Fast Fashion Global Market Report 2022, By Gender, By Age, By Type ResearchAndMarkets.com Offer.
This report provides strategists, marketers and executives with the crucial information they need to assess the global fast fashion market.
This report focuses on the rapidly growing fast fashion market. The report provides a guide to the fast fashion market that will shape and transform our lives over the next decade and beyond, including the market’s response to the challenge of the global pandemic.
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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.
The global fast fashion market is expected to grow from US$91.23 billion in 2021 to US$99.23 billion in 2022 at a compound annual growth rate (CAGR) of 8.8%. The market is expected to grow to $133.43 billion by 2026 at a compound annual growth rate (CAGR) of 7.7%.
The fast fashion market consists of selling trendy clothes and apparel and related services. 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 main current fashion trends presented at Fashion Week.
The main types of fast fashion are trousers, coats, skirts and others. Skirt is defined as the garment worn by women and girls that fastens around the waist and hangs down around the legs. It is available in different genders such as women’s wear, men’s wear and different ages including adult wear, teenage wear, children’s wear and others.
Western Europe was the largest region in the fast fashion market in 2021. Asia Pacific was the second largest region in the fast fashion market. The regions covered in this report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increasing acceptance of affordable clothing by the growing youth population fueled the fast fashion market. According to United Nations estimates of the world’s youth population, the youth population totaled 1.2 billion in 2019 and is projected to grow 7.9 percent to 1.3 million by 2030. The youth population is attracted to unique, trendy and affordable clothing. Therefore, clothing manufacturers focus on bringing fashionable clothes from the latest fashion trends presented at Fashion Week. The growing preference for affordable fast fashion clothing by the growing youth population has boosted the fast fashion market.
Low living wages and poor working conditions for workers are hampering the growth of fast fashion. In the fashion industry, workers, especially women (women make up almost 80% of the world’s garment workers), are very poorly paid. Women are also subject to abuse in the workplace. According to the Global Labor Justice report, women garment workers in top fast fashion companies in Asia face exploitation and abuse, including poor working conditions, low wages and long hours that lead to inefficiency. As a result, most people will not choose fashion over work. Therefore, low wages and poor working conditions hamper the growth of the fast fashion market.
Virtual and augmented reality are used by online and offline retailers in the fast fashion market. The use of virtual or augmented reality in the fast fashion market is intended to close the gap between online and offline channels. These technologies allow the customer to try the product and see what it looks like when trying on the clothes or makeup using virtual reality mirrors or cameras in their smartphone. For example, applications like DressingRoom use augmented reality technology to allow shoppers to try on outfits on an avatar. Virtual and augmented reality improve the shopping experience and drive 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 the US.
Main topics covered:
2. Characteristics of the fast fashion market
3. Fast Fashion Market Trends and Strategies
4. Impact of COVID-19 on Fast Fashion
5. Fast Fashion Market Size & Growth
5.1. Global Historical Fast Fashion Market, 2016-2021, billion US$
5.1.1. drivers of the market
5.1.2. restrictions in the market
5.2. Global Fast Fashion Forecasting Market, 2021 – 2026F, 2026F, 2031F, US$ Billion
5.2.1. drivers of the market
5.2.2. restrictions in the market
6. Fast Fashion Market Segmentation
6.1. Global Fast Fashion Market, Segmentation by Gender, History and Forecast, 2016-2021, 2021-2026F, 2026F, 2031F, Billion US$
6.2. Global Fast Fashion Market, Segmentation by Age, History and Forecast, 2016-2021, 2021-2026F, 2026F, 2031F, Billion US$
6.3. Global Fast Fashion Market, Segmentation by Type, Historical and Forecast, 2016-2021, 2021-2026F, 2026F, 2031F, Billion US$
7. Regional and country analysis of the Fast Fashion market
7.1. Global Fast Fashion Market Split by Region, Historical and Forecast, 2016-2021, 2021-2026F, 2026F, 2031F, Billion US$
7.2. Global Fast Fashion Market Split by Country, Historical and Forecast, 2016-2021, 2021-2026F, 2026F, 2031F, Billion US$
For more information about this report, visit https://www.researchandmarkets.com/r/39bltb
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