Fashion industry statistics show that 2019 was an excellent year for fast fashion. The global apparel market is valued at 3 trillion dollars, 3,000 billion, and accounts for 2 percent of the world’s Gross Domestic Product (GDP). 14. From the fabric to the closures to the sizes and the style, everything is collected and analyzed. The estimated value of fast fashion in 2020 is $31.4 billion, representing a negative CAGR of –12%. 2 United Nations Alliance on Sustainable Fashion reports the fashion industry employs over 75 million people worldwide. With the fashion industry, every possible facet of a piece of clothing is under scrutiny. This trend is expected to keep up at a pace of 3% in a year. We all know why every industry was shaken in 2020. The study is a detailed document on key aspects of markets, including trends, segmentation, growth prospects, opportunities, challenges, and competition analysis. Changing Tastes Require Solid Data. Here is a look at the statistics on what consumers and the fashion industry are made up of. The UK fashion industry is expected to grow $2.1 trillion with sales by 2025. In 2007, among those countries studied by the Bureau of Labor Statistics, Germany had the highest hourly compensation costs within the apparel manufacturing industry. However, 2020 did not continue the trend. https://tommyjohn.com/blogs/news/fashion-industry-statistics The fashion industry is constantly changing. Changing consumer tastes are reshaping today’s marketplace. Fashion Industry Statistics. With a world population of over 7 billion, the clothing industry has a high demand. Stay updated with best-in-class data and industry expertise across more than 20 industries spanning retail, food, tech, and more. Get up to speed on any industry with comprehensive intelligence that is easy to read. In this post, we’ll draw on data from several of our recent reports, looking at social media, search, and survey data, to look ahead at consumer trends for 2020. Industry market research reports, statistics, analysis, data, trends and forecasts. With the fashion industry, every possible facet of a piece of clothing is under scrutiny. For those with the right data science degree , this presents an eclectic challenge — how to stay focused and on top of trends before they’re forgotten. 13. Find industry analysis, statistics, trends, data and forecasts on Fashion Designers in the US from IBISWorld. Due to environmental impact, more consumers and fashion brands are turning to the concept of “slow fashion” and away from the long and costly manufacturing process. We also highlight the ten trends that will define the fashion … 23. (Source: Greenpeace) Fashion has been growing consistently with time. The State of Fashion is now the largest and most authoritative overview of the industry, surveying more than 275 global fashion executives (approximately 30 percent more than last year) and interviewing thought leaders and pioneers. From the fabric to the closures to the sizes and the style, everything is collected and analyzed. If each person owned just a single article of pants, a shirt, and a jacket, 21 billion pieces of clothing would have to be supplied to the global population. As per the UK fashion industry statistics 2019, UK ecommerce sales and fashion retail would pass the $2 billion mark by 2025. The fashion industry is responsible for up to 10% of global CO2 emissions, 20% of the world’s industrial wastewater, 24% of insecticides, and 11% of pesticides used. Good thing our market research tools can keep up! 1 Almost 75% of the world’s fashion market is concentrated in Europe, USA, China and Japan. 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