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Fast Fashion Market 2024 - Trend Analysis, Industry Growth, Key Players, Growth Opportunities And Outlook By 2033
Fast Fashion Market
As per the report, 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 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%.
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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.
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 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
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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
Contents of the report:
1. Executive Summary
2. Fast Fashion Market Report Structure
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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