Wilmimgton, Nov. 21, 2023 (GLOBE NEWSWIRE) -- According to RationalStat’s most recent report, the Global Fast Fashion Market value is estimated at US$ 95.5 billion in 2023 and is expected to rise at a strong CAGR of over 9.8% over the forecast period of 2023-2030.
Market Definition, Market Scope, and Report Overview
Fast fashion refers to the rapid and low-cost creation of apparel in response to current fashion trends. This business strategy emphasizes efficiency and rapid inventory turnover in order to bring new trends to market as rapidly as possible. Fast fashion firms are well-known for their ability to make affordable and contemporary apparel, frequently duplicating designs from high-end fashion houses and making them available to a wide client base.
Fast fashion brands are skilled at detecting and responding to developing fashion trends. They have cut the typical fashion cycle in half, allowing them to bring new ideas to market in weeks rather than months or seasons. This sensitivity to consumer tastes fuels worldwide demands.
According to a deep-dive market assessment by RationalStat, the global fast fashion market has been analyzed on the basis of market segments, including type, application and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global Fast Fashion market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global Fast Fashion market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Fast Fashion Market: Segmental and Market Share Analysis
- On the basis of type, adult wear segment held the largest market share of global fast fashion market accounting for 82% of overall market share in 2022. It is expected to show its dominance during the forecast period as well.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 95.5 billion |
| Market Size Forecast | US$ 183.8 billion |
| Growth Rate | 9.8% |
| Dominant Segment | Adult Wear |
| Dominant Region | Europe |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
Some leading players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & and acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global fast fashion market include.
- In July 2021, France-based luxury goods company, LVMH partnered with Us-based blockchain software technology company ConsenSys and Microsoft in launching a Blockchain-based platform known as Aura.
Some of the prominent players and suppliers operating and contributing significantly to the global fast fashion market growth include New Look, Primark, Esprit, Mango, L Brands, Forever 21, Gap, Fast Retailing (Uniqlo), Zara (Inditex), and H&M Group, among others.
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RationalStat has segmented the global fast fashion market based on type, application and region
- Global Fast Fashion Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Type
- Adults Wear
- Teens Wear
- Kids Wear
- Others
- Global Fast Fashion Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Application
- Men
- Women
- Children
- Global Fast Fashion Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- North America Fast Fashion Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- US
- Canada
- Latin America Fast Fashion Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Fast Fashion Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Fast Fashion Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Fast Fashion Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Fast Fashion Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Fast Fashion Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
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Key Questions Answered in the Fast Fashion Report:
- What will be the market value of the global Fast Fashion market by 2030?
- What is the market size of the global Fast Fashion market?
- What are the market drivers of the global Fast Fashion market?
- What are the key trends in the global Fast Fashion market?
- Which is the leading region in the global Fast Fashion market?
- What are the major companies operating in the global Fast Fashion market?
- What are the market shares by key segments in the global Fast Fashion market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.
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