The global ethical fashion market size is expected to grow from $6.93 billion in 2021 to $7.57 billion in 2022 at a compound annual growth rate (CAGR) of 9.1%. The ethical fashion market is expected to grow to $10.28 billion in 2026 at a CAGR of 8%.
What is the Global Ethical Fashion Market?
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.
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What drives the Global Ethical Fashion Market?
The growing awareness of the adverse effects of the textile industry on the environment is encouraging customers to opt for ethical fashion materials. The farms that grow raw materials used to make fabrics, including crops like cotton, flax, and hemp, need a lot of water. Up to 20,000 liters of water are needed to produce just 1kg of cotton. To protect these crops, some farmers use lots of pesticides and herbicides that end up in the environment. Manufacturing rayon, an artificial fabric made from wood pulp, has emerged in the loss of many old-growth forests. During the process that transforms it into the fabric, the pulp is treated with dangerous chemicals that eventually get their move into the environment. Considering these processes that harm environment, people are shifting towards environment friendly materials, and this factor is contributing to the growth of ethical fashion market.
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Global Ethical Fashion Market Segments
The global ethical fashion market is segmented:
By Type: Fair Trade, Animal Cruelty Free, Eco Friendly, Charitable Brands
By Product: Organic, Manmade/Regenerated, Recycled, Natural
By End-User: Men, Women, Kids
By Geography: The regions covered in the ethical fashion market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Ethical Fashion Global Market Report 2022 provides market size and growth forecasts for the global ethical fashion market, global ethical fashion market share, ethical fashion market segments and geographies, ethical fashion market competitive landscape including leading competitors’ revenues, profiles and market shares. The ethical fashion global market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Ethical Fashion Industry Players include Christian Dior SE, H&M AB, NIKE Inc, Adidas AG, Pact, Tentree, Everlane and Eileen Fisher. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
