Global Fast Fashion Market Opportunities and Strategies Report 2021


DUBLIN, November 01, 2021– (BUSINESS WIRE) – The report “Global Fast Fashion Market Opportunities and Strategies to 2030: COVID-19 Growth and Change” report has been added to ResearchAndMarkets.com offer.

The global fast fashion market reached a value of nearly $ 68,634.9 million in 2020, after declining at a compound annual growth rate (CAGR) of -3.0% since 2015. The market is expected to expand from $ 68,634.9 million in 2020 to $ 163,468.5 million in 2025 at a rate of 19.0%. The market is then expected to grow at a CAGR of 5.3% from 2025 to reach $ 211,909.7 million in 2030.

The growth during the historical period has resulted from an increase in foreign direct investment, growth in emerging markets, growth in media development and technological developments.

The factors that negatively affected growth during the historical period were lack of resources, reduced free trade and increased inventory levels. In the future, increasing adoption of fashionable clothing by growing youth population, increasing penetration of social media, increasing demand for sportswear and performance clothing and low cost production will drive growth.

Factors that could hamper rapid fashion market growth in the future include increased transparency of poor working conditions, negative environmental impact, counterfeit products, limited cotton production, and the impact of COVID-19.

The fast fashion market is segmented by gender into male and female clothing. The female market was the largest segment of the fast fashion market segmented by type, accounting for 60.3% of the total in 2020. Going forward, the female segment is expected to be the fastest growing segment in the market. fast fashion, at a CAGR of 20.3% in 2020-2025.

The fast fashion market is also segmented by age into adult clothing, teenage clothing, and children’s clothing. The adult market was the largest segment of the fast fashion market segmented by age, accounting for 85.9% of the total in 2020. Going forward, the teenage clothing segment is expected to be the fastest growing segment. in the fast fashion market, at a CAGR of 23.6% in 2020-2025.

The fast fashion market is also segmented by type into pants, shirts, dresses and skirts, coats and other clothing. The other clothing market was the largest segment of the fast fashion market segmented by type, accounting for 33.9% of the total in 2020. In the future, the dresses and skirts segment is expected to be the most popular segment. fastest growing in the fast fashion market, at a CAGR of 23.8% in 2020-2025.

Asia Pacific was the largest region in the global fast fashion market, accounting for 29.7% of the total in 2020. It was followed by North America, Western Europe, and then the rest. Going forward, the fastest growing regions in the fast fashion market will be South America and the Middle East, where the growth will be 32.4% and 28.9% respectively. These will be followed by Africa and Eastern Europe, where the markets are expected to grow at CAGRs of 25.2% and 23.0% respectively.

The global fast fashion market is quite fragmented, with a large number of small players in the market. The top ten competitors in the market accounted for 29.13% of the total market in 2020. The main market players are Inditex (Zara SA), H&M Group, Fast Retailing (Uniqlo), The Gap, Inc. and ASOS Plc.

The best opportunities in the fast fashion market segmented by gender will arise in the female market segment, which will earn $ 63,037.7 million in annual global sales by 2025. The best opportunities in the fast fashion market segmented by age will feature in the adult clothing segment, which will earn $ 77,659.3 million in annual global sales by 2025.

The major opportunities in the fast fashion market segmented by type will arise in the other clothing segment, which will gain $ 32,312.2 million in global annual sales by 2025. The size of the fast fashion market will gain the more in China with $ 17,401.8 million.

Strategies based on market trends for the fast fashion market include the use of virtual reality and augmented reality (VR / AR), the use of blockchain technology in the market, artificial intelligence in clothing design, use of the Internet of Things (IoT), new ownership models, 3D printing and increased demand for man-made fibers.

To take advantage of the opportunities, the report recommends fast fashion companies to improve their commercial presence in the e-commerce industry through investments and initiatives taken for the development of advanced technological solutions to integrate physical stores and the market. or the online platform, focusing on the development and launch of online stores to increase accessibility and convenience for the customer, focus on expanding its commercial and operational presence through strategic agreements and plans to expand and establish stores and manufacturing facilities in developing regions, and companies can also focus on growth through acquisition strategies.

Highlights of the report

Trends and strategies of the fast fashion market

  • Virtual and augmented reality (VR)

  • Use of Blockchain technology

  • New ownership models

  • Use of the Internet of Things (IoT)

  • Artificial intelligence in clothing design

  • 3d printing

  • Increased demand for man-made fibers

Impact of COVID-19 on the fast fashion market

  • Decrease in demand

  • The shift towards sustainability

  • Stimulate online shopping for clothes

  • Supply chain disruption

  • Canceled orders and store closures

  • Lower consumer spending on fashion clothing

Companies mentioned

  • Inditex (Zara SA)

  • H&M Group

  • Fast Retail (Uniqlo)

  • The Gap, Inc.

  • ASOS Plc

  • Urban outfitters

For more information on this report, visit https://www.researchandmarkets.com/r/nxupry

View the source version on businesswire.com: https://www.businesswire.com/news/home/20211101005727/en/

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