What is Fast Fashion?
Fast fashion refers to changing fashion trends. Fast fashion attentions on speed and low prices in order to deliver regular new collections encouraged by catwalk aspects or celebrity styles. There are various products are available in fast fashion such as clothing, footwear, jewelry, Accessories and others. Rising youth population will help to boost global fast fashion market.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Largest Market | North America |
Unit | Value (USD Billion) |
Key Companies Profiled | Zara (Spain), H&M (Sweden), Uniqlo (Japan), Forever 21 (United States), Topshop (United Kingdom), Gap (United States), Pull & Bear (Spain), Bershka (Spain), River Island (United Kingdom), Esprit (China) and Primark (United Kingdom) |
CAGR | 7.6% |
The Global Fast Fashion market is expected to see growth rate of 7.6% and may see market size of USD140.2 Billion by 2030.The Market is currently pegged at USD92.0 Billion. The study covers a detailed analysis segmented by key business segments i.e. by type (Clothing, Footwear, Jewelry, Accessories, Home Furnishings and Others) and major geographies. Research Analyst at AMA predicts that United Kingdom Vendors will contribute to the maximum growth of Global Fast Fashion market throughout the predicted period.
The competition is expected to become even more intense in the years to come due to the entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Fast Fashion market report suggests strategies that Vendors can follow and highlights key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Vendors, some of them are Zara (Spain), H&M (Sweden), Uniqlo (Japan), Forever 21 (United States), Topshop (United Kingdom), Gap (United States), Pull & Bear (Spain), Bershka (Spain), River Island (United Kingdom), Esprit (China) and Primark (United Kingdom).
Market Overview:
It is expected that greenhouse gas emissions may surge by 50% in next 10 years, considering fast fashion current production cycle. Recently the New York Senate is planning to introduce the "New York Fashion Sustainability and Social Accountability Act", which would ask retailers and manufacturers to publish their social and environmental policies online. Once the bill is passed, it would be the first in the United States to require fashion companies to address their social and environmental shortcomings and would require businesses to implement more sustainable processes on supply chains.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Influencing Trend:
Rising Demand with Advance Media Development, Diverse Product Offering and Attraction towards Modeling as well as Fashion Industry
Market Growth Drivers:
Rising Youth Population, Low Production Cost and Low Quantity Production and Short Production Time
Challenges:
Decline in Spending On Apparel and Volatile Demand Fast Fashion Products
Restraints:
Low Quality Product and Rising Incidences of Imitation of Original Products
Opportunities:
Use of VR & AR Technology to fill Gap of Online & Offline Retailers
Key highlights of the Global Fast Fashion market Study:
CAGR of the market during the forecast period 2023-2030
In-depth information on growth factors that will accelerate the Fast Fashion market in next few years.
Detailed Insights on futuristic trends and changing consumer behavior
Forecast of the Global Fast Fashion market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Vendors
Comprehensive information about factors that will challenge the growth of Fast Fashion Vendors
Transformation and Important Triggers:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Fast Fashion market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Fast Fashion market.
In order to make a priority list sorting is done based on revenue generated based on the latest reporting, using paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment> by targeting key target audience that includes Accessary Manufactures, Fashion Product Manufactures, Fashion Products Retailors/Distributors, Modelling Industry, Fashion Industry, Film Industry, Government and Private Research organization and Others.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases, etc.