Ethical Fashion Market Size, Industry Share, Trends And Forecast To 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Ethical Fashion Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $12.05 billion In 2028 At A CAGR Of 8.1% :

The ethical fashion market size has grown strongly in recent years. It will grow from $8.17 billion in 2023 to $8.83 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to emerging markets growth, rise in foreign direct investments, and increasing customer focus towards sustainable fashion.

The ethical fashion market size is expected to see strong growth in the next few years. It will grow to $12.05 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to rising awareness, social media, government initiatives, environmental impact of fast fashion, and growth of e-commerce. Major trends in the forecast period include providing customers with compelling, tangible stories, recycling and upcycling in order to reduce wastage and minimize the impact on the environment in the manufacturing process, include the use of animal-free leather in order to curb animal cruelty and consider using natural materials, investing in vegan fashion and entering in partnerships and collaborations.

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Ethical Fashion Market Major Segments
The ethical fashion market covered in this report is segmented -

1) By Type: Fair Trade, Animal Cruelty Free, Eco-Friendly, Charitable Brands
2) By Product: Organic, Man-Made/Regenerated, Recycled, Natural
3) By End User: Men, Women, Kids

Key Driver - Environmental Consciousness Fuels The Surge In Ethical Fashion

The growing awareness of the adverse effects of the textile industry on the environment is encouraging customers to opt for ethical fashion materials. The farms that grow raw materials used to make fabrics, including crops like cotton, flax, and hemp, need a lot of water. Up to 20,000 litres of water are needed to produce just 1kg of cotton. To protect these crops, some farmers use lots of pesticides and herbicides that end up in the environment. Manufacturing rayon, an artificial fabric made from wood pulp, has emerged in the loss of many old-growth forests. During the process that transforms it into the fabric, the pulp is treated with dangerous chemicals that eventually get their move into the environment. Considering these processes that harm the environment, people are shifting towards environment-friendly materials, and this factor is contributing to the growth of the ethical fashion market.

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Prominent Trend - Setting New Standards For Sustainable Fashion: Sheep Inc.'s Landmark Partnership For A Naturally Negative Carbon Footprint T-Shirt

Major companies operating in the ethical fashion market are developing strategic partnerships to better serve the customers. Partnerships help ethical fashion companies promote sustainability in the fashion industry, reduce its impact on the environment, and set new standards for a more responsible fashion supply chain. For instance, in June 2023, Sheep Inc., a UK-based ethical fashion manufacturer launched the world's first naturally negative carbon footprint t-shirt. The t-shirt is made from super-fine Merino wool, which is a year-round temperature-regulating layer and has self-cleansing fibers that mean less washing and more wearing compared to cotton. The company collaborated with suppliers and manufacturers to create this t-shirt, which has an NFC-enabled tag for 100% transparency. This partnership aims to promote sustainability in the fashion industry and reduce its impact on the environment.

Ethical Fashion Market Players
Major companies operating in the ethical fashion market report are Eileen Fisher, LVMH Moët Hennessy Louis Vuitton (LVHM), Levi Strauss & Co, H&M Concious (H&M Group), Reformation, Everlane, Tentree, Patagonia, Inc., Wear Pact LLC, United By Blue, Brass Clothing, Ellie Kai, Fake Natoo, No Nasties, Hoomanwear, Maati, Hemp Kari, Maito , NEEMIC , People Tree Ltd, Tonlé, Shekudo, Boden, Sézane, Alternative Apparel, Thought Clothing, Ninety Percent, allSisters, Armed Angels, Beaumont Organic, Bibico, Finisterre, Gudrun Sjoden, Kitty Ferreira, Lowie, Madia & Matilda, Mud Jeans, Rêve en Vert , Organic Basics , HOPE Made in the World, Buki Akomolafe, Mayamiko, SOLEREBELS, Ksenia Schnaider, Only Me, Tennen, Amour Vert, Outerknown, Kotn, Hackwith Design House, Fair Trade Winds, Fair Indigo, Back Beat Co., Encircled, La Causa, Whimsy and Row, MATE The Label, Sotela, Ecologyst , Cariuma, Santista Jeanswear, Animaná, Splash Fashion, Retold Dubai , Asmaraia , LISA FOLAWIYO

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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the ethical fashion market in 2023. Western Europe was the second largest region in the global ethical fashion market share. The regions covered in the ethical fashion market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Ethical Fashion Market Report Structure
3. Ethical Fashion Market Trends And Strategies
4. Ethical Fashion Market - Macro Economic Scenario
5. Ethical Fashion Market Size And Growth
…..
27. Ethical Fashion Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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