Driven by a heightened global concern for environmental and social impacts of the fashion industry, the sustainable fashion market is witnessing transformative trends.
As per the report titled, The Sustainable Fashion Market, the industry is supporting initiatives like the UN Fashion Industry Charter for Climate Action, further emphasising its commitment to reduce emissions. It is witnessing the emergence of several trends including the booming second-hand market, projected to reach $84 billion, fueled by eco-awareness and facilitated by platforms like Thrift and Depop.
The rental market, exemplified by platforms like Rent the Runway, offers access to designer fashion without ownership, although questions about transportation emissions arise.
Having dominated the sustainable fashion market in 2023, North America is expected to continue its dominance during the forecast period. North America's market expansion is driven by a surge in ethical consumerism, with the United States particularly emphasising sustainable practices in clothing, footwear, and accessories.
The Sustainable Fashion Market Report covers various aspects of the industry's sustainable practices and trends. It analysis includes the entire value chain, from raw material sourcing and production processes to distribution, consumption, and end-of-life considerations. The report digs into the evolving consumer preferences and increased awareness regarding environmental and ethical concerns, shaping the dynamics of the sustainable fashion market. It provides stakeholders with a holistic view of the sustainable fashion market by exploring its size, growth potential, challenges, and opportunities.
