Global Ethical Fashion Market Size 2024, Forecast To 2033
11 Mar, 2024
The ethical fashion market size has exhibited strong growth, increasing from $8.17 billion in 2023 to $8.83 billion in 2024, with a compound annual growth rate (CAGR) of 8.0%. The growth in the historical period can be attributed to the growth of emerging markets, a rise in foreign direct investments, and an increasing customer focus towards sustainable fashion. Looking forward to 2028, the market is poised for strong growth, reaching $12.05 billion with a CAGR of 8.1%. The anticipated growth in the forecast period is linked to rising awareness, social media impact, government initiatives, the environmental impact of fast fashion, and the growth of e-commerce. Key trends in this period include providing customers with compelling, tangible stories, incorporating recycling and upcycling to reduce wastage and minimize environmental impact, embracing animal-free leather to combat animal cruelty, and considering the use of natural materials. Additionally, investments in vegan fashion and entering into partnerships and collaborations are notable trends.
Global Ethical Fashion Market Key Driver
The ethical fashion market is experiencing growth driven by the growing awareness of the environmental impact of the textile industry. Customers are increasingly opting for ethical fashion materials due to concerns about the ecological consequences of traditional fabric production. The water-intensive nature of growing raw materials like cotton, flax, and hemp, coupled with the use of pesticides, poses environmental challenges. Manufacturing artificial fabrics like rayon from wood pulp contributes to the loss of old-growth forests and involves the use of harmful chemicals. In response to these environmental concerns, consumers are shifting towards eco-friendly materials, fostering growth in the ethical fashion market. The market size for ethical fashion is poised for expansion in 2023, 2024, and 2028, reflecting this shift in consumer preferences.
Get A Free Sample Of The Global Ethical Fashion Market ReportGlobal Ethical Fashion Market Segments
The ethical fashion market covered in this report is segmented –
1) By Type: Fair Trade, Animal Cruelty Free, Eco-Friendly, Charitable Brands
2) By Product: Organic, Man-Made/Regenerated, Recycled, Natural
3) By End User: Men, Women, Kids
By Geography:The regions covered in the ethical fashion market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
Asia-Pacific was the largest region in the ethical fashion market in 2023. Western Europe was the second largest region in the global ethical fashion market share. The regions covered in the ethical fashion market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Ethical Fashion Industry Players
Eileen Fisher, LVMH Moët Hennessy Louis Vuitton (LVHM), Levi Strauss & Co, H&M Concious (H&M Group), Reformation, Everlane, Tentree, Patagonia, Inc., Wear Pact LLC, United By Blue, Brass Clothing, Ellie Kai, Fake Natoo, No Nasties, Hoomanwear, Maati, Hemp Kari, Maito, NEEMIC, People Tree Ltd, Tonlé, Shekudo, Boden, Sézane, Alternative Apparel, Thought Clothing, Ninety Percent, allSisters, Armed Angels, Beaumont Organic, Bibico, Finisterre, Gudrun Sjoden, Kitty Ferreira, Lowie, Madia & Matilda, Mud Jeans, Rêve en Vert, Organic Basics, HOPE Made in the World, Buki Akomolafe, Mayamiko, SOLEREBELS, Ksenia Schnaider, Only Me, Tennen, Amour Vert, Outerknown, Kotn, Hackwith Design House, Fair Trade Winds, Fair Indigo, Back Beat Co., Encircled, La Causa, Whimsy and Row, MATE The Label, Sotela, Ecologyst, Cariuma, Santista Jeanswear, Animaná, Splash Fashion, Retold Dubai, Asmaraia, LISA FOLAWIYO
Get The Full Global Ethical Fashion Market ReportEthical Fashion Market Overview
Ethical fashion refers to design, production, and distribution of clothing that prioritises minimising harm to people and the environment In the best case scenario, it helps all parties involved in the supply chain and improves everyone's future, not just that of the top tier. The social impact and principles underlying a brand's label are important to ethical fashion. It focuses on both the social and environmental impact of fashion, and improving the working conditions of labourers.
Ethical Fashion Global Market Report 2023 provides data on the global ethical fashion market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The ethical fashion market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.