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Global Fast Fashion Market Report 2022

DUBLIN, April 25, 2022 /PRNewswire/ — The “Global Fast Fashion Market Report 2022, By Gender, By Age, By Type” report has been added to from ResearchAndMarkets.com offer.

This report provides strategists, marketers, and senior management with the critical information they need to assess the global fast fashion market.

This report focuses on the high growth fast fashion market. The report gives a guide to the fast fashion market that will shape and change our lives over the next ten years and beyond, including the market response to the challenge of the global pandemic.

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The major players in the fast fashion market are Zara (Inditex), H&M Group, Fast Retailing (Uniqlo), Gap, Forever 21, Mango, Esprit, Primark, New Look and River Island.

The global fast fashion market is expected to grow from $91.23 billion in 2021 for $99.23 billion in 2022 at a compound annual growth rate (CAGR) of 8.8%. The market is expected to grow to reach $133.43 billion in 2026 at a compound annual growth rate (CAGR) of 7.7%.

The fast-fashion market is made up of sales of fashionable clothing and clothing and associated services. Fast fashion means clothes that move quickly from catwalks to stores to meet new trends. The fast fashion clothing collections are supported by the latest fashion trends presented at Fashion Week.

The main types of fast fashion are pants, coats, skirts and others. The skirt is defined as the garment worn by women and girls which is fastened around the waist and hangs down around the legs. It is available in different genres such as women’s wear, men’s wear, and various ages including adult wear, teen wear, kids wear, and others.

Western Europe was the largest region in the fast fashion market in 2021. Asia Pacific was the second largest fast fashion market region. The regions covered in this report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The growing adoption of affordable clothing by the growing youth population has boosted the fast fashion market. According to United Nations estimates of the world’s youth population, in 2019, the youth population stood at 1.2 billion and it is expected to grow by 7.9% to reach 1.3 million by 2030. The youth population is attracted to unique, fashionable and affordable clothing. Clothing manufacturing companies therefore focus on bringing in fashion clothes from the latest fashion trends presented during the fashion week. The growing preference for affordable fast fashion clothing by the increase in youth population has boosted the fast fashion market.

Low decent wages for workers and poor working conditions hinder the growth of fast fashion. In the fashion industry, workers, especially women (women make up nearly 80% of garment workers worldwide), are paid much less. Women also face abuse in the workplace. According to the Global Labor Justice report, female garment workers at the biggest fast fashion companies in Asia face exploitation and abuse, including poor working conditions, low pay and overtime, leading to inefficiencies. By this, most people will not prefer the fashion industry to work. Hence, low wages and deplorable working conditions are affecting the growth of the fast fashion market.

Virtual and augmented reality is used by online and offline retailers in the fast fashion market. The use of virtual or augmented reality in the fast fashion market is to bridge the gap between online and offline channels. These technologies allow the customer to try on the product and see how it looks when trying on the clothes or makeup using virtual reality mirrors or cameras in their smartphone. For example, apps like DressingRoom use augmented reality technology to let shoppers try on outfits on an avatar. Virtual and augmented reality enhance the in-store experience, driving the fast fashion market.

Countries covered in the Fast Fashion market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South KoreaUK and UNITED STATES.

Main topics covered:

1. Summary

2. Characteristics of the fast fashion market

3. Fast Fashion Market Trends and Strategies

4. Impact of COVID-19 on fast fashion

5. Fast Fashion Market Size and Growth
5.1. Global historical fast fashion market, 2016-2021, billion dollars
5.1.1. Market Drivers
5.1.2. Market Constraints
5.2. Global Fast Fashion Market Forecast, 2021-2026F, 2026F, 2031F, Billion USD
5.2.1. Market Drivers
5.2.2. Market Constraints

6. Fast Fashion Market Segmentation
6.1. Global fast fashion market, segmentation by gender, history and forecast, 2016-2021, 2021-2026F, 2026F, 2031F, billion dollars
6.2. Global Fast Fashion Market, Age Segmentation, Historical & Forecast, 2016-2021, 2021-2026F, 2026F, 2031F, USD Billion
6.3. Global fast fashion market, segmentation by type, history and forecast, 2016-2021, 2021-2026F, 2026F, 2031F, billions of dollars

7. Regional and Country Analysis of Fast Fashion Market
7.1. Global fast fashion market, split by region, historical and forecast, 2016-2021, 2021-2026F, 2026F, 2031F, billion dollars
7.2. Global fast fashion market, split by country, historical and forecast, 2016-2021, 2021-2026F, 2026F, 2031F, in USD billion

Companies cited

For more information on this report, visit https://www.researchandmarkets.com/r/k7xfcz

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