Sustainable Fashion Market to reach USD 12.94 Bn at a CAGR of 8.2 percent by 2030- Says Maximize Market Research

May 08 17:58 2024
Sustainable Fashion Market to reach USD 12.94 Bn at a CAGR of 8.2 percent by 2030- Says Maximize Market Research
Sustainable Fashion Market
Sustainable Fashion Market size was valued at USD 7.45 Bn. in 2023 and the total Sustainable Fashion revenue is expected to grow by 8.2 % from 2024 to 2030, reaching nearly USD 12.94 Bn.

Maximize Market Research, a leading Electronics business consultancy and research firm has published a report on the “Sustainable Fashion Market”. The total market opportunity for Sustainable Fashion Market was USD 7.45 Bn in 2023 and is expected to grow at a CAGR of 8.2 percent through the forecast period, reaching USD 12.94 Bn by 2030. As per the Maximize Market Research report, the global Sustainable Fashion Market is expected to be dominated by the Asia-Pacific region to grow significantly over the forecast period.

Sustainable Fashion Market Scope and Research Methodology

Market Size in 2022: USD 7.45 Bn

Market Size in 2029: USD 12.94 Bn

CAGR: 8.2 Percent

Forecast Period: 2024-2030

Base Year: 2023

Number of Pages: 220

No. of Tables: 132

No. of Charts and Figures: 194

Segment Covered: By Product Type, Product Nature, Distribution Channel, Consumer Demographics, and End-User

Regional Scope: North America, Europe, Asia Pacific, and Africa, South America

Report Coverage: Market Share, Size and Forecast by Revenue | 2023−2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.

Get a Free Sample PDF of this Research Report for more Insights with a Table of Content, Research Methodology, and Graphs

The research methodology for analyzing the Sustainable Fashion Market encompasses a multi-faceted approach. Beginning with a thorough literature review, data collection involves both primary methods such as surveys and interviews with industry experts and consumers, as well as secondary data gathering from diverse sources. Market sizing, segmentation, and forecasting are conducted, considering historical trends, consumer behavior, and regulatory frameworks. Competitive analysis evaluates key players’ strategies and market positioning, while consumer insights probe attitudes and preferences toward sustainable fashion. Regulatory and environmental analyses assess compliance requirements and environmental impacts. Trend analysis identifies emerging patterns, and qualitative research methods validate findings. Ultimately, findings are compiled into a comprehensive report offering actionable insights for stakeholders aiming to foster sustainable growth in the fashion industry.

Sustainable Fashion Market Overview

The sustainable fashion market, dedicated to eco-friendly and ethically responsible practices, is experiencing rapid expansion driven by heightened consumer awareness of the environmental and social impacts of their fashion choices. This growing consciousness fuels the demand for sustainable clothing, appealing to individuals prioritizing environmentally conscious options. Leading players like Patagonia exemplify this commitment through initiatives like their “Worn Wear” program, which encourages the resale of pre-owned garments to extend product lifecycles and minimize waste. Expectations for transformative developments in materials, exemplified by collaborations such as Adidas and Parley for the Oceans, utilizing recycled ocean plastic in footwear production, further elevate market demand. These innovative strides, coupled with a more conscientious consumer base, position the sustainable fashion market for continued prominence and influence within the broader sustainable fashion industry.

Sustainable Fashion Market Dynamics

A multitude of significant trends are propelling the Sustainable Fashion Market forward. Chief among these is the escalating concern over the environmental and social impacts of the fashion industry, driven largely by the heightened climate consciousness of Generation Z, steering consumers toward more sustainable options. Major brands like Burberry and Stella McCartney have thrown their weight behind initiatives such as the UN Fashion Industry Charter for Climate Action, committing to emission reduction. Concurrently, numerous sustainability trends are reshaping the market landscape. The burgeoning Second-hand market, fueled by eco-awareness among younger demographics, is poised for exponential growth, with projections estimating its value to reach USD 84 billion by the forecast period. Facilitating this surge are platforms like Thrift and Depop, facilitating the sale and purchase of pre-loved items.

The Rental market is also gaining momentum, with platforms like Rent the Runway democratizing access to designer fashion. However, concerns surrounding transportation emissions in the rental process cast a shadow on its sustainability credentials. Another notable trend is “De-influencing,” wherein influencers advocate against certain purchases, advocating for a more minimalist fashion ethos. Repair services, championed by brands like Patagonia and Cotswold Outdoor, are gaining traction, encouraging consumers to prolong the lifespan of their garments. Finally, Upcycling, the transformative practice of crafting new apparel from old ones, not only fosters a circular economy but also mitigates landfill waste, underscoring the industry’s commitment to sustainability.

Sustainable Fashion Market Regional Insight

In 2023, North America asserted its dominance in the Sustainable Fashion Market and is poised to maintain its leading position throughout the forecast period. This stronghold is fueled by a burgeoning wave of ethical consumerism, notably prominent in the United States, where a strong emphasis on sustainable practices pervades the clothing, footwear, and accessories sectors. Meanwhile, Europe emerges as a swiftly growing region within the Sustainable Fashion Market, leveraging its established fashion industry and stringent environmental regulations to champion sustainability, spearheaded by nations like Germany and France. Across the Asia-Pacific (APAC) region, an increasing recognition of the significance of sustainable fashion is observed, with countries such as Japan and Australia spearheading eco-friendly initiatives. Despite facing infrastructural challenges, South America is progressing in sustainable textiles, while the Middle East and Africa are gradually embracing sustainable fashion through organic textiles and ethical practices, driven by a growing awareness of environmental concerns.

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Sustainable Fashion Market Segmentation

by Product Type:

  • Clothing
  • Footwear
  • Accessories
  • Textiles

Based on Product Type, Clothing dominated the Sustainable Fashion Market in 2023 with a 48 percent market share and is expected to continue its dominance during the forecast period. In terms of Clothing sustainable fashion finds widespread adoption across all clothing categories, from everyday wear to formal attire and sportswear.

By Product Nature:

  • Organic
  • Man-Made/Regenerated
  • Recycled
  • Natural

By Distribution Channel:

  • L Retail Stores
  • E-commerce
  • Sustainable Fashion Events

By Consumer Demographics:

  • Eco-conscious Consumers
  • Mainstream Consumers
  • Brands and Organizations

By End-User

  • Men
  • Women
  • Kids

Sustainable Fashion Market Key Players

  • Allbirds
  • ArmedAngels
  • Future Lifestyle Fashions
  • Amour Vert
  • Eileen Fisher Inc
  • Everlane
  • Mara Hoffman
  • Patagonia Inc
  • Reformation
  • Macy’s
  • TheGivingMovement
  • ASOS Eco
  • Mud Jeans
  • Nudie Jeans
  • People Tree
  • Veja
  • wunderwerk
  • Zara
  • Grupo De Moda Soma
  • A Big Indian Story
  • Aditya Birla Fashion and Retail
  • Vedant Fashions
  • Cresava
  • Adastria
  • Vulcabras Azaleia
  • Alpargatas

Key questions answered in the Sustainable Fashion Market are:

  • What is Sustainable Fashion?
  • What is the current growth rate of the Sustainable Fashion Market?
  • Who are the key players in the Sustainable Fashion Market?
  • What are the factors affecting growth in the Sustainable Fashion Market?
  • Who held the largest market share in Sustainable Fashion Market?
  • What is the demand pattern for the Sustainable Fashion Market?
  • What are the key trends in Sustainable Fashion?
  • What are the strategies used by competitors in the Sustainable Fashion Market?
  • What are the growth prospects in developing countries for the Sustainable Fashion Market?
  • Which segment is expected to witness the fastest growth and why in the Sustainable Fashion Market?

Key Offerings:

  • Past Market Size and Competitive Landscape (2018 to 2022)
  • Past Pricing and price curve by region (2018 to 2022)
  • Market Size, Share, Size & Forecast by different segment | 2023−2030
  • Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
  • Market Segmentation – A detailed analysis by Product Type, Product Nature, Distribution Channel, Consumer Demographics and End-User and Region
  • Competitive Landscape – Profiles of selected key players by region in a strategic perspective
    • Competitive landscape – Market Leaders, Market Followers, Regional player
    • Competitive benchmarking of key players by region
  • PESTLE Analysis
  • PORTER’s analysis
  • Value chain and supply chain analysis
  • Legal Aspects of business by region
  • Lucrative business opportunities with SWOT analysis
  • Recommendations

Maximize Market Research is leading Consumer Goods research firm, has also published the following reports:

Bamboo Clothing MarketThe Semiconductor Market size was valued at USD 1.83 Bn in 2023 and is expected to reach USD 3.27 Bn by 2030, at a CAGR of 8.5 percent. Environmentally conscious consumers are attracted to bamboo’s fast growth rate, lower water consumption compared to cotton, and potential biodegradability resulting in the growing demand for Bamboo Clothing Market.

Nanotechnology Clothing MarketGlobal Semiconductor Components Market size was valued at USD 5.75 Bn in 2022 and is expected to reach USD 25.05 Bn by 2029, at a CAGR of 23.4 percent over the forecast period. Enhanced performance and functionality are important driving factors in the growth of the nanotechnology clothing market. Nanotechnology facilitates the manipulation of materials at the nanoscale, resulting in clothes with exceptional properties that provide consumers with demands for high-performance apparel.

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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