Press release
Fast Fashion Market Growth, Share, Size, Key Trends, Opportunities, Major Players Strategies And Forecast 2033
Fast Fashion Market
The Business Research Company offers in-depth market insights through Fast Fashion Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The fast fashion market size has grown rapidly in recent years. It will grow from $122.98 billion in 2023 to $142.06 billion in 2024 at a compound annual growth rate (CAGR) of 15.5%. The growth in the historic period can be attributed to rise in foreign direct investments, emerging markets growth, growth in media development, technology developments and urbanization.
The fast fashion market size is expected to see strong growth in the next few years. It will grow to $197.05 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to increasing adoption of trendy clothes by the growing youth population, increasing penetration of social media, growing demand for sportswear and performance wear, low-cost production and increasing penetration of organized retail in developing economies. Major trends in the forecast period include using virtual reality and augmented reality (vr/ar), use of blockchain technology in the market, artificial intelligence in designing clothing, using the internet of things (iot), new ownership models, 3d printing, and increased demand for manmade fibers.
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Market Segmentation:
The fast fashion market covered in this report is segmented -
1) By Gender: Men's Wear, and Women's Wear
2) By Age: Adult Wear, Teen Wear, and Kids Wear
Major Driver - Increasing Adoption Of Affordable Fashion By Young Population To Drive Market Growth
Increasing adoption of affordable clothes by the rising youth population drove the fast fashion market. According to United Nations estimates of the world's youth population, it is projected to grow by 7.9% to 1.3 million by 2030. The youth population is attracted to unique, trendy, and affordable clothes. The apparel manufacturing companies are therefore focusing on bringing fashion clothes from the most recent fashion trends presented in Fashion Week. The growing preference for affordable fast-fashion clothes by the increasing youth population boosted the fast-fashion market.
Competitive Landscape:
Major companies operating in the fast fashion market report are Inditex (Zara), H&M Group, The Gap, Inc., Fast Retailing (Uniqlo), Associated British Foods plc (Primark), ASOS Plc, Urban Outfitters, Mango, New Look, Esprit, C&A, Forever 21, Esprit Holdings Limited, Gap Inc., Cotton On Group, Topshop, Bershka, Levi Strauss & Co, United Arrows Ltd., Allen Solly, Future Lifestyle Fashions, Jack Wills, Boohoo Group, Debenhams, Topshop, MoroZoni, Colin's, Diesel, Wrangler, Rifle, Gloria Jeans, LPP SA., Aeropostale, American Eagle Outfitters, Abercrombie & Fitch, Ralph Lauren, Old Navy, Nike, Calvin Klein, Zumiez, Converse, Hollister, Houpa, Adidas, Puma, WinCraft, Gildan Activewear, Chanel, Reinaldo Lourenço, Colcci, Havaianas, Zadea Group, Osman Jamjoom Group, Next
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Top Trend - Virtual And Augmented Reality Bridging The Online-Offline Gap
Virtual and augmented reality are 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 on their smartphones. 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 enhance the in-store experience, and this is driving the market for fast fashion.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Fast Fashion Market Characteristics
3. Fast Fashion Market Trends And Strategies
4. Fast Fashion Market - Macro Economic Scenario
5. Fast Fashion Market Size And Growth
…..
27. Fast Fashion Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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