Global Ethical Fashion Markets, Analysis & Forecasts, 2015-2020, 2025F, 2030F
DUBLIN, March 31, 2022 /PRNewswire/ -- The "Ethical Fashion Global Market Opportunities And Strategies To 2030, By Type, Product, End-user" report has been added to ResearchAndMarkets.com's offering.
The global ethical fashion market reached a value of nearly $6,349.9 million in 2020, having increased at a compound annual growth rate (CAGR) of 6.1% since 2015. The market is expected to grow from $6,349.9 million in 2020 to $10,109.9 million in 2025 at a compound annual growth rate (CAGR) of 9.7%. The growth is mainly due to the growing awareness about using ethical fashion for sustainability. The market is expected to grow from $10,109.9 million in 2025 to $15,584.2 million in 2030 at a CAGR of 9.0%.
The ethical fashion market consists of sales of apparels by entities (organizations, sole traders or partnerships) that that are primarily engaged in designing, production, retail, and purchasing of ethical fashion apparels. Ethical fashion is the designing and manufacturing of clothes while caring for the people and communities involved in the process, and while also minimizing the impact on the environment. It focuses on both the social and environmental impact of fashion, seeking to improve the working conditions of laborers and the environment.
Growth in the historic period resulted from emerging markets growth, rise in foreign direct investments, and increasing customer focus towards sustainable fashion. This growth was restricted by high costs of ethical fashion and reduction in free trade.
Going forward, rising awareness, social media, government initiatives, environmental impact of fast fashion, and growth of e-commerce are expected to drive the market. Lack of standardization and impact of COVID-19 are major factors that could hinder the growth of the ethical fashion market in the future.
The ethical fashion market is segmented by product into organic, man-made/regenerated, recycled and natural. The man-made/regenerated was the largest segment of the ethical fashion market by product type, accounting for 53.6% of the total market in 2020. Going forward, organic segment is expected to be the fastest growing segment in the ethical fashion market, at a CAGR of 18.4% during 2020-2025.
The ethical fashion market is also segmented by type into fair trade, animal cruelty free, eco-friendly and charitable brands. The animal cruelty free was the largest segment of the ethical fashion market by type, accounting for 44.4% of the total market in 2020. Going forward, the eco-friendly segment is expected to be the fastest growing segment in the ethical fashion market, at a CAGR of 12.2% during 2020-2025.
The ethical fashion market is also segmented by end-user into men, women and kids. The men segment was the largest segment of the ethical fashion market by end-user, accounting for 51.9% of the total market in 2020. Going forward, the women segment is expected to be the fastest growing segment in the ethical fashion market, at a CAGR of 10.9% during 2020-2025.
Asia Pacific was the largest region in the global ethical fashion market, accounting for 31.6% of the total in 2020. It was followed by the Western Europe, North America and then the other regions. Going forward, the fastest-growing regions in the ethical fashion market will be Eastern Europe and South America, where growth will be at CAGRs of 13.6% and 12.1% respectively during 2020-2025. These will be followed by Asia Pacific and Africa, where the markets are expected to register CAGRs of 11.9% and 11.9% respectively during 2020-2025.
The ethical fashion market is highly fragmented and competitive. The top ten competitors in the market made up to 13.49% of the total market in 2020. Major players in the market include Eileen Fisher, Reformation, H&M Conscious (H&M Group), Levi Strauss & Co, Everlane, Alternative Apparel, Inc., Tentree, United By Blue, Wear Pact LLC, Amour Vert.
The top opportunities in the ethical fashion market segmented by product will arise in the man-made/regenerated segment, which will gain $1,233.5 million of global annual sales by 2025. The top opportunities in the ethical fashion market segmented by type will arise in the eco-friendly segment, which will gain $1,574.2 million of global annual sales by 2025. The top opportunities in the ethical fashion market segmented by end-user will arise in the women segment, which will gain $1,913.4 million of global annual sales by 2025. The ethical fashion market size will gain the most in the China at $806.5 million.
Market-trend-based strategies for the ethical fashion market includes focus on providing customers with compelling, tangible stories, recycling and upcycling in order to reduce wastage and minimize the impact on the environment in the manufacturing process, focus of celebrities towards ethical fashion and have tie-ups with them in order to increase the reach of their brands, include the use of animal-free leather in order to curb animal cruelty and consider using natural materials.
Key Topics Covered:
1. Ethical Fashion Market Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
6. Introduction
6.1. Segmentation By Geography
6.2. Segmentation By Product
6.3. Segmentation By Type
6.4. Segmentation By End-User
7. Ethical Fashion Market Characteristics
7.1. Market Definition
7.2. Segmentation By Product
7.2.1. Organic
7.2.2. Man-Made/Regenerated
7.2.3. Recycled
7.2.4. Natural
7.3. Segmentation By Type
7.3.1. Fair Trade
7.3.2. Animal Cruelty Free
7.3.3. Eco-Friendly
7.3.4. Charitable Brands
7.4. Segmentation By End-user
7.4.1. Men
7.4.2. Women
7.4.3. Kids
8. Ethical Fashion Market Trends And Strategies
8.1. Recycling And Upcycling
8.2. Increased Transparency Through Storytelling
8.3. Animal-Free Leather
8.4. Vegan Fashion
8.5. Advanced Technologies
9. Impact Of COVID-19 On The Ethical Fashion Market
9.1. Introduction
9.2. Impact On Supply Chain And Workers
9.3. Impact On Companies
9.4. Increase In Demand
9.5. Consumers' Point Of View
9.6. Future Outlook
10. Global Ethical Fashion Market Size And Growth
10.1. Market Size
10.2. Historic Market Growth, 2015 - 2020, Value ($ Million)
10.2.1. Drivers Of The Market 2015 - 2020
10.2.2. Restraints On The Market 2015 - 2020
10.3. Forecast Market Growth, 2020 - 2025, 2030F, Value ($ Million)
10.3.1. Drivers Of The Market 2020 - 2025
10.3.2. Restraints On The Market 2020 - 2025
11. Global Ethical Fashion Market Segmentation
11.1. Global Ethical Fashion Market, Segmentation By Product, Historic And Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
11.2. Global Ethical Fashion Market, Segmentation By Type, Historic And Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
11.3. Global Ethical Fashion Market, Segmentation By End-User, Historic And Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
12. Ethical Fashion Market, Regional And Country Analysis
12.1. Global Ethical Fashion Market, By Region, Historic and Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
12.2. Global Ethical Fashion Market, By Country, Historic and Forecast, 2015 - 2020, 2025F, 2030F, Value ($ Million)
Companies Mentioned
- Eileen Fisher
- Reformation
- H&M Concious (H&M Group)
- Levi Strauss & Co.
- Everlane
- Alternative Apparel, Inc.
- Tentree
- United By Blue
- Wear Pact LLC
- Amour Vert
For more information about this report visit https://www.researchandmarkets.com/r/lsvedy
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