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Fast Fashion Market Soars to USD 106.62 Bn in 2023 with Offline Segment

12-23-2024 05:50 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Maximize Market Research Pvt. Ltd.

Fast Fashion Market

Fast Fashion Market

๐…๐š๐ฌ๐ญ ๐…๐š๐ฌ๐ก๐ข๐จ๐ง ๐Œ๐š๐ซ๐ค๐ž๐ญ: ๐”๐ง๐ฅ๐จ๐œ๐ค๐ข๐ง๐  ๐†๐ฅ๐จ๐›๐š๐ฅ ๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ, ๐Š๐ž๐ฒ ๐“๐ซ๐ž๐ง๐๐ฌ, ๐š๐ง๐ ๐‘๐ž๐ ๐ข๐จ๐ง๐š๐ฅ ๐ƒ๐ž๐ฏ๐ž๐ฅ๐จ๐ฉ๐ฆ๐ž๐ง๐ญ๐ฌ

The global Fast Fashion Market is experiencing significant growth, with evolving consumer preferences, rapid technological advancements, and growing e-commerce adoption driving market expansion. The market was valued at USD 106.62 billion in 2023 and is projected to reach USD 177.92 billion by 2030, growing at a robust CAGR of 7.59% during the forecast period.

This press release explores country-specific opportunities, growth drivers, recent developments, and mergers and acquisitions in the Fast Fashion Market, focusing on Vietnam, Thailand, Japan, South Korea, Singapore, the US, and Europe.

๐˜๐ž๐š๐ซ-๐„๐ง๐ ๐’๐š๐ฅ๐ž! ๐†๐ž๐ญ ๐ฎ๐ฉ ๐ญ๐จ ๐Ÿ‘๐ŸŽ% ๐จ๐Ÿ๐Ÿ ๐จ๐ง ๐œ๐จ๐ฆ๐ฉ๐ซ๐ž๐ก๐ž๐ง๐ฌ๐ข๐ฏ๐ž ๐ฆ๐š๐ซ๐ค๐ž๐ญ ๐ซ๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ๐ฌ-๐ฅ๐ข๐ฆ๐ข๐ญ๐ž๐ ๐ญ๐ข๐ฆ๐ž ๐จ๐ง๐ฅ๐ฒ: https://www.maximizemarketresearch.com/request-sample/126719/

๐…๐š๐ฌ๐ญ ๐…๐š๐ฌ๐ก๐ข๐จ๐ง ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ฒ ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐ข๐ง ๐•๐ข๐ž๐ญ๐ง๐š๐ฆ

Vietnam has emerged as a prominent market for fast fashion due to its robust textile manufacturing industry. The country is witnessing, driven by increasing disposable income and urbanization. Recent mergers include the collaboration of H&M with local manufacturing firms to expand production capacities.

๐…๐š๐ฌ๐ญ ๐…๐š๐ฌ๐ก๐ข๐จ๐ง ๐ˆ๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐“๐ซ๐ž๐ง๐๐ฌ ๐ข๐ง ๐“๐ก๐š๐ข๐ฅ๐š๐ง๐

The fast fashion market in Thailand is influenced by changing consumer preferences and the rise of e-commerce. Companies like ๐™๐š๐ซ๐š ๐š๐ง๐ ๐”๐๐ˆ๐๐‹๐Ž have introduced regional collections to cater to local tastes. The market with significant investment in sustainability initiatives by major players.

๐…๐š๐ฌ๐ญ ๐…๐š๐ฌ๐ก๐ข๐จ๐ง ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‚๐จ๐ง๐ฌ๐จ๐ฅ๐ข๐๐š๐ญ๐ข๐จ๐ง ๐š๐ง๐ ๐ˆ๐ง๐ง๐จ๐ฏ๐š๐ญ๐ข๐จ๐ง ๐ข๐ง ๐‰๐š๐ฉ๐š๐ง

Japan's fast fashion industry focuses on innovation and eco-friendly products. Companies like ๐†๐” ๐š๐ง๐ ๐”๐๐ˆ๐๐‹๐Ž are leading in adopting sustainable practices. Recent developments include UNIQLO's partnership with local textile firms, emphasizing recycled fabrics.

๐…๐š๐ฌ๐ญ ๐…๐š๐ฌ๐ก๐ข๐จ๐ง ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐“๐ซ๐ž๐ง๐๐ฌ ๐ข๐ง ๐’๐จ๐ฎ๐ญ๐ก ๐Š๐จ๐ซ๐ž๐š

South Korea's fast fashion market thrives on K-pop culture and international collaborations. Major brands such as ๐™๐€๐‘๐€ ๐š๐ง๐ ๐‡&๐Œ have seen increased market penetration through digital channels. Recent M&A activities include strategic partnerships with Korean e-commerce platforms to boost online sales.

๐…๐š๐ฌ๐ญ ๐…๐š๐ฌ๐ก๐ข๐จ๐ง ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ ๐ข๐ง ๐’๐ข๐ง๐ ๐š๐ฉ๐จ๐ซ๐ž

Singapore's fast fashion market is evolving with an emphasis on premium and sustainable products. Brands like ๐€๐’๐Ž๐’ ๐š๐ง๐ ๐๐จ๐จ๐ก๐จ๐จ are expanding their online presence.

๐…๐š๐ฌ๐ญ ๐…๐š๐ฌ๐ก๐ข๐จ๐ง ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐ข๐ง ๐ญ๐ก๐ž ๐”๐’

The United States remains a dominant player in the fast fashion market, with a market valuation. Companies like ๐…๐จ๐ซ๐ž๐ฏ๐ž๐ซ ๐Ÿ๐Ÿ ๐š๐ง๐ ๐’๐ก๐ž๐ข๐ง are investing in omnichannel retail strategies. Recent acquisitions include ๐’๐ก๐ž๐ข๐ง'๐ฌ ๐œ๐จ๐ฅ๐ฅ๐š๐›๐จ๐ซ๐š๐ญ๐ข๐จ๐ง ๐ฐ๐ข๐ญ๐ก ๐”๐’-๐›๐š๐ฌ๐ž๐ ๐Ÿ๐š๐ฌ๐ก๐ข๐จ๐ง ๐ข๐ง๐Ÿ๐ฅ๐ฎ๐ž๐ง๐œ๐ž๐ซ๐ฌto drive sales.

๐…๐š๐ฌ๐ญ ๐…๐š๐ฌ๐ก๐ข๐จ๐ง ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‚๐จ๐ง๐ฌ๐จ๐ฅ๐ข๐๐š๐ญ๐ข๐จ๐ง ๐ข๐ง ๐„๐ฎ๐ซ๐จ๐ฉ๐ž

Europe's fast fashion market is characterized by significant consolidation, with brands like ๐‡&๐Œ ๐š๐ง๐ ๐™๐€๐‘๐€ focusing on sustainability. The European market is projected to grow, with recent developments including mergers between ๐ฅ๐จ๐œ๐š๐ฅ ๐ญ๐ž๐ฑ๐ญ๐ข๐ฅ๐ž ๐Ÿ๐ข๐ซ๐ฆ๐ฌ ๐š๐ง๐ ๐ ๐ฅ๐จ๐›๐š๐ฅ ๐ซ๐ž๐ญ๐š๐ข๐ฅ๐ž๐ซ๐ฌ to enhance supply chain efficiency.

๐„๐ฑ๐œ๐ข๐ญ๐ž๐ ๐ญ๐จ ๐๐ข๐ฏ๐ž ๐ข๐ง? ๐‘๐ž๐ช๐ฎ๐ž๐ฌ๐ญ ๐ฒ๐จ๐ฎ๐ซ ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž ๐œ๐จ๐ฉ๐ฒ ๐จ๐Ÿ ๐ญ๐ก๐ž ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ ๐ญ๐จ ๐ฎ๐ง๐œ๐จ๐ฏ๐ž๐ซ ๐ข๐ญ๐ฌ ๐œ๐จ๐ง๐ญ๐ž๐ง๐ญ๐ฌ: https://www.maximizemarketresearch.com/request-sample/126719/

๐…๐š๐ฌ๐ญ ๐…๐š๐ฌ๐ก๐ข๐จ๐ง ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ:

๐’ƒ๐’š ๐‘ฎ๐’†๐’๐’…๐’†๐’“

Men
Women

In terms of gender , the women segment dominated the market with a share of 60 % in 2023 . Wearing the latest fashion trend can have a huge impact on a woman 's self - esteem and having a closet full of styles and colors is every woman 's biggest dream .โ€‹โ€‹โ€‹ Women are more conscious about fashion and style .โ€‹โ€‹ These elements are responsible for segmental growth in the market .

๐’ƒ๐’š ๐‘ซ๐’Š๐’”๐’•๐’“๐’Š๐’ƒ๐’–๐’•๐’Š๐’๐’ ๐‘ช๐’‰๐’‚๐’๐’๐’†๐’

Offline
Online

In terms of distribution , the offline channel dominated the market with a market share of 59 % in 2023 . Product evaluation , product feeling , aesthetics and size were the most valued traditions by consumers .โ€‹โ€‹โ€‹โ€‹ Convenient parking and operating hours , increasing urbanization are driving demand for the remote canal .โ€‹โ€‹โ€‹ AR and VR are presented in an innovative way in the offline segment . To allow consumers to test avatar costumes .โ€‹โ€‹ These elements are behind the expansion of the segment market .

๐’ƒ๐’š ๐‘จ๐’ˆ๐’†

Adult Wear
Teen Wear
Kids Wear

๐…๐จ๐ซ ๐Ÿ๐ฎ๐ซ๐ญ๐ก๐ž๐ซ ๐ข๐ง๐ช๐ฎ๐ข๐ซ๐ข๐ž๐ฌ ๐š๐ง๐ ๐ฆ๐š๐ซ๐ค๐ž๐ญ ๐ฌ๐œ๐จ๐ฉ๐ž ๐ž๐ฑ๐ฉ๐ฅ๐จ๐ซ๐š๐ญ๐ข๐จ๐ง, ๐ซ๐ž๐š๐œ๐ก ๐จ๐ฎ๐ญ ๐ญ๐จ ๐ฎ๐ฌ: https://www.maximizemarketresearch.com/request-sample/126719/

๐…๐š๐ฌ๐ญ ๐…๐š๐ฌ๐ก๐ข๐จ๐ง ๐Œ๐š๐ซ๐ค๐ž๐ญ, ๐Š๐ž๐ฒ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ ๐š๐ซ๐ž:

North America
1. Forever 21
2. Gap Inc.
3. Fashion Nova
4. Charlotte Russe
5. Authentic Brands Group LLC
6. victoria secret

Europe
7. zara
8. Primark
9. Topshop
10. BOOHOO
11. Missguided
12. PrettyLittleThing
13. Bershka
14. Pull & Bear
15. New Look
16. H&M (Hennes & Mauritz),
17. Missguided,
18. New Look, Express
19. River Island
20. COFRA Holding AG

APAC
21. Uniqlo
22. Forever New
23. Cotton On Group

ME
24. Shein
25. Esprit Holdings

South America
26. Mango

๐Š๐ž๐ฒ ๐‘๐ž๐œ๐ž๐ง๐ญ ๐ƒ๐ž๐ฏ๐ž๐ฅ๐จ๐ฉ๐ฆ๐ž๐ง๐ญ๐ฌ ๐ข๐ง ๐ญ๐ก๐ž ๐…๐š๐ฌ๐ญ ๐…๐š๐ฌ๐ก๐ข๐จ๐ง ๐Œ๐š๐ซ๐ค๐ž๐ญ

UNIQLO launched a new eco-friendly product line in Asia, focusing on recycled materials.
H&M announced a partnership with local manufacturers in Vietnam to strengthen its supply chain.
ZARA implemented AI-driven inventory management in European stores, improving efficiency.
Shein introduced augmented reality (AR) for online shopping in the US.
ASOS expanded its digital presence in Singapore through strategic collaborations.

๐‚๐ก๐ž๐œ๐ค ๐Ž๐ฎ๐ญ ๐ญ๐ก๐ž ๐‹๐š๐ญ๐ž๐ฌ๐ญ ๐“๐ซ๐ž๐ง๐๐ฌ:

Global CBRNE Detection Technologies Market https://www.maximizemarketresearch.com/market-report/global-cbrne-detection-technologies-market/80981/

Global Motorcycle Handlebar Control Switch Market https://www.maximizemarketresearch.com/market-report/global-motorcycle-handlebar-control-switch-market/112866/

Autonomous Robot Toys Market https://www.maximizemarketresearch.com/market-report/autonomous-robot-toys-market/147254/

Global Composite Bearings Market https://www.maximizemarketresearch.com/market-report/global-composite-bearings-market/22805/

Pocket Knives Market https://www.maximizemarketresearch.com/market-report/pocket-knives-market/195629/

North America Smart trash bin Market https://www.maximizemarketresearch.com/market-report/north-america-smart-trash-bin-market/114024/

Global Mobile Logistics Robot Market https://www.maximizemarketresearch.com/market-report/global-mobile-logistics-robot-market/28812/

Global Voice Picking Solutions Market https://www.maximizemarketresearch.com/market-report/global-voice-picking-solutions-market/105107/

Global Account Reconciliation Software Market https://www.maximizemarketresearch.com/market-report/global-account-reconciliation-software-market/104828/

Global Zirconia Based Dental Materials Market https://www.maximizemarketresearch.com/market-report/global-zirconia-based-dental-materials-market/114280/

๐‚๐จ๐ง๐ญ๐š๐œ๐ญ ๐”๐ฌ

MAXIMIZE MARKET RESEARCH PVT. LTD.
3rd Floor, Navale IT park Phase 2,
Pune Banglore Highway, Narhe
Pune, Maharashtra 411041, India.
+91 9607365656
sales@maximizemarketresearch.com

๐€๐›๐จ๐ฎ๐ญ ๐”๐ฌ

Maximize Market Research is one of the fastest-growing market research and business consulting firms serving clients globally. Our revenue impact and focused growth-driven research initiatives make us a proud partner of majority of the Fortune 500 companies. We have a diversified portfolio and serve a variety of industries such as IT & telecom, chemical, food & beverage, aerospace & defense, healthcare and others.

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RNCOS E-Services Pvt. Ltd.
Growing Fashion Awareness Driving Indian Fashion Accessories Market
According to a new research report, โ€œIndian Women Wear Market Forecast to 2015โ€, by RNCOS, the influence of western culture has triggered a growing sense of fashion among the Indian women. Increased awareness about latest fashion has boosted the market for fashion accessories, which includes handbags, belts, artificial jewelry and footwear. The growth in fashion accessories market has been driven by increasing desires of people to look good and feel good,โ€ฆ
04-28-2011 | Fashion, Lifestyle, Trends
Xela Fashion
Fashion forward designer Nora Sahraoui launches XELA Fashion
From Morocco to France to Miami For Immediate Release South Beach, Miami, Florida, April 28,2011 Designer Nora Sahraoui announced the launch of her new brand, XELA Fashion! and her latest designs today in Miami. Her collection of over 50 dresses is now available to fashion forward women. Sahraoui, of Marseilles France, was in Miami for an exciting photo shoot of her latest styles and to launch her website www.XelaFashion.com.โ€ฆ
04-02-2009 | Fashion, Lifestyle, Trends
International Fashion Academy
International Fashion Academy Paris Breeds Fashion Connoisseurs
March 22, 2009 (Shanghai, China) - The International Fashion Academy (IFA Paris) is again bringing its name to the stage of the fashion world with their bachelorโ€™s degree and masterโ€™s degree programs. As one of the first foreign fashion schools that opened in China, students are exposed to the classic, yet cutting-edge world of fashion. The Academic Committee is of primary importance to IFA. The fashion design schoolโ€™s teachers comeโ€ฆ