(MENAFN- EIN Presswire)
fast fashion market is valued at US$ 1002.3 Million in 2021 and is anticipated to increase to US$ 1,401.5 Million by 2027, with a growing CAGR of 4.4%
HYDERABAD, TELANGANA, INDIA, November 24, 2022 /einpresswire.com / -- The fast fashion market is valued at US$ 1002.3 Million in 2021 and is anticipated to increase to US$ 1,401.5 Million by 2027, with a growing CAGR of 4.4% in the next six years.
Fast fashion is an approach to the design, creation, and marketing of clothing fashions that emphasizes making fashion trends quickly and cheaply available too cheaply available to consumers many shoppers, Primark has an irresistible offer of trendy clothes at astonishingly low prices. Fast fashion is describe clothing designs that move quickly from the catwalk to stores to take advantage of trends. Fast fashion has three main components from the consumer's perspective such as it's cheap, it's trendy and it's disposable. The fast fashion industry plays a huge role in the global economy. It employs 300 million people around the world.
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The main factors that have considerably increased the demand for the fast fashion market. The increasing adoption of affordable clothes by the rising youth population is driving the market's revenue. The rising media developments to more fast fashion spending a growing youth population and the expansion of emerging economies drive the market growth. The growing demand for trendy and stylish clothing coupled with the rising per capita disposable income of the consumers is the major factor driving the market growth. The increasing innovations in supply chain management are driving the market growth.
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Poor pay and bad working conditions is the major factor restraining market growth.
Fast Fashion Market by Type:
Based on the type:
The Adult Wear segment was recorded as the largest market in the fast fashion market in 2022 and it is anticipated to grow significantly during the forecast period.
Fast Fashion Market - By Application:
Based on the application:
Women held the largest share of the fast fashion market in 2022 and it is anticipated to grow significantly during the forecast period.
Fast Fashion Market by Distribution Channel:
Based on the market:
The Online segment held the largest market share in the fast fashion market in 2022 and it is anticipated to grow significantly during the forecast period.
North America is the largest growing region in the fast fashion market and is expected to grow significantly during the forecast period. North America has a high availability in the countries such as the US and Canada. The reason for this dominance of the region is the growth and popularity of the fast fashion market and the increasing trend of fast clothing and thrift shopping among youths are factors and this is likely to create growth in the region's market. The growing demand for stylish and original clothing drives the region's market growth. The US is the largest market supporting the growth of fast fashion. There has been rapid growth in the fast fashion market in the region leading to global market growth.
The Asia Pacific is expected to be growing lucratively in the fast fashion market.
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Latest Industry Developments:
In February 2021, Mango launched a new store image that aims to reflect the spirit and freshness of the brand. This new concept is strongly influenced by Mediterranean culture and style, in which warm tones and neutral color bases predominate and are combined with traditional, artisanal, sustainable, and natural materials, such as ceramic, tufa, wood, marble, esparto grass, and leather.
In March 2021, In the Autumn/Winter '20 season, Mango launched Active, a new collection of garments designed for practicing various sports. The collection was a huge success, given that it adapted perfectly to the growing need to wear more comfortable clothing for being at home and for practicing sports.
In October 2020, Mango launched Active, a capsule collection of comfortable garments for practicing various sporting disciplines related to physical and mental well-being, such as yoga, dance, meditation, or Pilates, among others. The brand is therefore aligning itself with fitness wear, one of the most popular trends of the moment. The Active collection features all types of sports garments, including leggings, shorts, tops, long-sleeve crop tops, bodies, and sweatshirts.
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