The ethical fashion market consists of revenues generated by the establishments that are primarily engaged in designing, production, retail, and purchasing of ethical fashion apparels . Ethical fashion is about designing and manufacturing clothes that care for people and communities while minimizing the impact on the environment. It focuses on both the social and environmental impact of fashion, and to improve the working conditions of laborers.
The global Ethical Fashion market is expected to decline from $6.35billion in 2019 and to $6.14 billion in 2020 at a compound annual growth rate (CAGR) of -3.24%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and reach $8.25 billion in 2023 at CAGR of 10.33%.