global fashion industry statistics 2021

global fashion industry statistics 20212020/09/28

Founded in 1989, USFIA works to eliminate tariff and non-tariff barriers that impede the fashion industry's ability . MarketsandResearch.biz has published the latest market research study on Global ARM Microcontrollers Market 2021 by Manufacturers, Regions, Type and Application, Forecast to 2026 combines market essential details, definitions, categorization, professional market study, and analysis of significant features. Global retail sales growth will continue to rise and take up more retail market share. Fashion industry statistics confirm the global apparel market should reach $635.17 billion in 2021. Here is a comprehensive collection of 100 key statistics for the event industry in 2021. The beauty and personal care market will hit a jaw-dropping market size of $716.6 billion by 2025. ( UNECE) 2. The revenue of the global apparel market was calculated to amount to some 1.5 trillion U.S. dollars in 2021 and was predicted to increase to approximately 2 trillion dollars by 2026. The global supply chain market is expected to experience a CAGR of 11.2% from 2020 to 2027. The coronavirus pandemic has had a major impact on fashion brands worldwide. The fashion market revenue will roll in at $759 billion in 2021. Increasing demand for apparel from the fashion industry coupled with the growth of e-commerce platforms is expected to drive the market growth over the forecast period. The Indian textile industry is estimated around 108 billion dollar and expected to reach 223 billion dollar by 2021. 20,000 to 25,000 stores were expected to close in the United States in 2020. (Pinterest, 2021) Aside from the United States, outsourcing deals also came from the United Kingdom, Spain, and Australia. While only the ultra-rich can keep up with luxury trends, people from all walks of life aspire to be part of that coveted market someday. Progress on transparency in the global fashion industry is still too slow among 250 of the world's largest fashion brands and retailers, with brands achieving an overall average score of just 23% in the Fashion Transparency Index 2021. According to eMarketer, online retail sales will reach $6.17 trillion by 2023, with ecommerce websites taking up 22.3% of total retail sales.. Fast Fashion in Australia industry trends (2016-2021) Fast Fashion in Australia industry outlook (2021-2026) poll Average industry growth 2021-2026 : x.x lock Purchase this report or a membership to unlock the average company profit margin for this industry. 2. 1 Almost 75% of the world's fashion market is concentrated in Europe, USA, China and Japan. (Pinterest, 2020) Most Pinterest users (85%) use the platform to plan new projects. Let's start by taking a look at some stats related to the wellness sector in general… The global wellness market is valued at over $4.75 trillion. Data via Statista Sustainability is arguably the biggest issue confronting fashion brands right now — no surprise considering the industry accounts for roughly 10% of global carbon dioxide emissions (more than . The global market size was valued at a whopping $279 billion and projected to grow even more. Global fashion industry statistics show that the industry could reach between 103% and 108% of its 2019 size in 2022. In recent studies, experts see the industry grow by up to US$114 billion by 2025, with Human Resources being one of the lead contributors to this . BoF and McKinsey & Company are pleased to share a preview of exclusive data from The State of Fashion 2021, our highly anticipated annual report on the future of the fashion industry, which reveals that the global fashion industry could lose up to 20 percent of revenues this year — worth up to a staggering $440 billion — and lays out potential scenarios for the year ahead as well as the . Dive into this sustainable fashion facts list to learn more about how and why eco-friendly fashion is so important. Global Stereo Speakers Market outlook 2022 : Growth Statistics, Industry Trends, Size, Share, Business Strategies, Emerging Technology, Top Countries Data, Major Manufacturers Analysis, Demand . In 2019, the global outsourcing industry amounted to US$92.5 billion, according to Statista. The business of fashion is more than big; it's the biggest of the big. For the personal luxury goods industry (luxury fashion, luxury accessories, luxury watches, luxury jewelry, and high-end beauty), we estimate a global revenue contraction of -35 to -39 percent in 2020 year-on-year, but positive growth of 1 to 4 percent in 2021 (compared with the 2019 baseline figure). Over the next five years, online fashion's 7.18% compounded annual growth rate will put the industry at +$1.0 trillion. Global ecommerce sales growth. China will continue to lead the world in digital buyers in 2021 with 792.5 million (33.3% of the global total); it will produce $2.779 trillion in ecommerce sales (56.8% of the global total); and it will become the first country in history to transact more than half of its retail sales digitally (52.1% of retail will be ecommerce). An Executive Summary is available below. 3. And, this number has continued to hold, despite the pandemic. Slow Fashion Movement Vision: To establish a world in which it is impossible to buy t-shirts made in sweatshops or jeans that dye rivers blue. Online shopping in the fashion industry is expected to reach 27% by the year 2023 as more shoppers buy . This report features our latest regional and global forecast for total retail, retail ecommerce, mcommerce, and social commerce sales and digital buyers. This fashion industry is the second highest user of water worldwide, producing 20% of total global water waste. Fashion eCommerce 2021 growth. The global fashion industry is worth over $2.5 trillion, with Africa's share estimated at less than 1% of that total. According to estimates, the growth of e-business in India is going to reach 1.2 trillion in 2021. The UK fashion industry is expected to reach £60.1 billion in 2022. . Additionally, the textile industry is responsible for 24% of insecticide use and 11% of pesticide use. A large amount of waste happens at both the production stage, as our clothes are made, and the consumer stage, as we throw away or overly wash our clothes. Global Lactoferrin Market Size 2022 By Share, Industry Statistics, Trends Evaluation, Business Challenges and Investment Opportunities Analysis and Top Countries Data Published: March 4, 2022 at 2 . In the past year the Pulse Score of the fashion industry increased from 38 to 42 (out of 100), showing progress toward Fashion ecommerce in the UK is expected to grow to $44.19 billion in 2022. The online sales of luxury fashion are expected to witness tremendous growth during the forecast period. In 2019, the revenue of the cosmetic industry in the United States was estimated to be around S49.2 billion. 25. Asia-Pacific Fast Fashion Market 7. This staggering figure is projected to grow to more than double that amount ($953 billion) by 2024, and is currently expected to reach over $758 billion in 2021. How big is the beauty industry? 2020-2021 saw the number of customers who make online apparel purchases grow by 19% ( McKinsey ). The UK exported £8.9bn of fashion and textiles in 2020, down from £9.7bn in 2019, and imported £27.7bn, up from £25.9bn in 2019. This is a clear sign that the demand for clothing and footwear is on an upward trend across the world and the online fashion market size is growing. The global fast fashion market is expected to. Global luxury fashion brands can lose as much as $12 billion in 2020. As alarming as they may be, these 10 fast fashion statistics are something every Zara, H&M, and Fashion Nova shopper should know in 2021. US manufacturing value added, as measured in constant 2015 dollars, is the second largest behind that of China. That means a market value increase from $15.85 billion in 2019 to $37.41billion in 2027. AI in Fashion Market by Component (Solutions and Services), Deployment Mode (Cloud and On-premise), Application (Product Recommendation, Product Search & Discovery, Supply Chain Management & Demand Forecasting, Creative Design, and Virtual Assistance),Category (Apparels, Accessories, Footwear, Beauty & Cosmetics, and Jewelry), and End User (Fashion Designer and Fashion Store): Global . Manufacturing Industry Size. According to the UN Alliance for Sustainable Fashion, fashion was responsible for 8-10% of global carbon emissions in 2019— more than all international flights and maritime shipping combined. This year's Fashion Transparency Index reveals a lack of transparency in several . Fashion industry statistics show that the global fast fashion market was estimated at $35.8 billion. Although retail had a tough year in 2020, every national market covered by eMarketer saw double-digit ecommerce growth. Cosmetic Industry Statistics 19. Fashion Industry Statistics: General Data According to Fashion United, the industry has a labor force of 3,384.1 million. DUBLIN, Sept. 30, 2021 /PRNewswire/ -- The "Women Apparel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's . ( Business of Fashion) However, a growth of 2%-4% is possible in 2021. As a global fashion industry and retail . New opportunities are also presenting themselves as . 2. The Transportation Management System (TMS) is expected to have a CAGR of 11.7% from 2021 to 2028. Fast Fashion Production Waste. The fashion industry's linear "take-make-dispose" model has led to one of the most environmentally damaging sectors in the global economy. According to Statista, the online fashion industry was worth over $439 billion in 2018. • 20% of global water waste is caused by the fashion industry • 1 in 6 people in the world works in a fashion job • 80% of fashion workers are women • 93% of surveyed fashion brands do not pay their workers a living wage • 20-35% of ocean microplastics come from the fashion industry Value of the global fashion industry: 3,000 billion dollars (3 trillion dollars), 2 percent of the world's Gross Domestic Product (GDP) Fashion Companies To cater to the large, 3,000 billion, textile and garment industry new companies are entering the market daily. Slow Fashion Movement Mission: We unite people globally and locally to take collective action. This report . Fast Fashion Production Waste. With a global market value of $759.5 billion in 2021, apparel, accessories, and footwear are the number one ecommerce sector in the world. China Fast Fashion Market 8. Polyester emits up to three times carbon dioxide than other fibers such as cotton. Minimum Wage Level for Garment Workers in the World (Updated in December 2020) Outlook for China's Textile and Apparel Industry (2021-2025) WTO Reports World Textiles and Apparel Trade in 2020; About FASH455; Statistics: Global Apparel Market 2021-2026 70 million barrels of oil are used to produce polyester every year. The fashion industry is the 3rd most polluting industry in the world. In 2022, fashion retail prices will increase by 3.2% on average. (Polygon) Jewelry store industry statistics show that 2018 was a fruitful year in the jewelry world. This is materially lower than South Africa's share ($14.4 billion), even . Fashion industry sales statistics state that brands with digital channels will gain at least 20% revenue this year. The global market for outsourcing was worth $92.5 billion in 2019. (Pinterest, 2021) 97% of top searches on Pinterest are unbranded. It can be hard to shop for sustainably-minded clothing on a budget. Global Fast Fashion Market Report 2021 - Market is Expected to Grow at a CAGR of 5.3% from 2025 and Reach $211,909.7 Million in 2030 1. Market Overview The global fashion accessories market is projected to grow at a CAGR of 12.3% during the forecast period (2021 - 2026). Fashion industry statistics show that 10% of global carbon emissions come from the fashion industry. Beauty Industry Statistics and Market Research: Global & US. USFIA represents brands, retailers, importers, and wholesalers based in the United States and doing business globally. As much as 12% of fibers are still discarded on factory floors, 25% of fast fashion garments remain unsold, and less than 1% of products are recycled into new garments. The industry is expected to grow at least 5% every year. However, the annual growth rate will slow down to 4.0-5.7 percent during 2022-2024 and down further to 3.8-4.6 percent during 2025-2026. L'Oréal's main products are makeup, haircare, skincare, hair color, and perfumes. The full UKFT's Compendium of Industry Statistics and Analysis 2020 is available exclusively to UKFT members. The fashion industry is highly competitive in nature, and requires continuous innovation and development, especially in case of the product design and improvement, with changing consumer trends, which is driving the growth of the fashion accessories market. Textile and Fashion Waste Statistics. From 2020 to 2024, the slowest growth rate came in 2020, during which online sales increased 8.6 percent. As of January 2021, Pinterest has 459 million global active users every month. The industry also employs over 45 million people directly to 60 million people indirectly. THE FASHION INDUSTRY 32pt 38pt +6pt 42pt +4pt This section takes an in-depth look at the Pulse Score results to examine the main drivers of progress and road-blocks the industry faced during the past year. Yes. Among the ten largest manufacturing countries, the U.S. is the 4th largest manufacturing value added per capita. One of the biggest makeup manufacturers in the United States is L'Oréal, followed by Estée Lauder. Ecommerce fashion industry: trends and strategies for 2022. The global luxury fashion market size was valued at USD 110.64 billion in 2020 and is expected to reach USD 153.97 billion by 2026 growing at a CAGR of 5.66%. Womenswear is the best-selling apparel category globally. 7. Fashion eCommerce 2021 growth . According to Statista, t he global online fashion market was worth $533 billion in 2018, and is predicted to grow to $872bn by 2023. The global beauty industry market is valued at $511 billion in 2021. 56 Marriage Statistics: 2020/2021 Global Data . India Fast . Statistics of online shopping in India indicate a growth of $1.2 trillion in 2021 The Indian e-commerce space is predicted to maintain its third spot at the largest e-commerce market in the world. And $784.6B by 2027. The global luxury fashion market has been growing over the last few years and is projected to reach USD 333,775.3 million by 2028 at a CAGR of 3.59% from 2021 to 2028. 2021 KEY FINDINGS. Meanwhile, Euromonitor suggests that the Sub-Saharan fashion market is worth $31 billion, with Nigeria accounting for 15% of that ($4.7 billion). The above data points offer a wealth of growth opportunities for fashion and apparel retailers—despite the huge shifts in consumer behavior, global trade, and "normal" day-to-day lives for millions around the world. In terms of ecommerce sales, the US fashion industry growth rate in 2022 is expected at 12.4 percent, a marginal increase from the 12.2 percent recorded in 2021. The COVID-19 pandemic affects the global fashion industry as governments close down manufacturing plants, and through store closures, and event cancellations to slow the spread of the virus. 104 Transportation Industry Statistics You Can't Ignore: 2021/2022 Market Share & Data Analysis Lately, the fast pace of technological innovation, volatile economic times, and the disruption of the COVID-19 pandemic have made it difficult for businesses in the transport and logistics industry to thrive. Dublin, May 26, 2021 (GLOBE NEWSWIRE) -- The "Fast Fashion Global Market Report 2021: COVID-19 Growth and Change to 2030" report has been added to ResearchAndMarkets.com's offering. Before we dive into the top trends in the fashion and apparel industry, let's take a quick look at a snapshot of the industry on a global level. ( Vogue Business) Fashion is a complex global industry that employs one in six people worldwide—including some of the world's highest and lowest paid individuals. Top 10 Health and Beauty Industry Statistics. The US produces over 17 million tons of textile waste every year. 4. Thousands of both small and major fashion retailers suffered a substantial loss last year. The outsourcing industry is one of the largest contributors to the global economy, aside from oil and gas. With this increase, sales are expected to total $170.91 billion. 1. In 2019, Inditex made $31.6 billion in sales worldwide. 3. 20. Health & Wellness Industry Stats. The US cosmetic market is worth a staggering $62.46 billion. Americans spend almost $2,000 on fashion items. The fifth annual State of Fashion report by The Business of Fashion and McKinsey & Company forecasts the continuation of tough trading conditions next year, forcing companies to find their 'silver linings strategies.' Download the full report to understand the 10 themes that will define the global fashion industry in 2021 and how to navigate the currents they create. As much as 12% of fibers are still discarded on factory floors, 25% of fast fashion garments remain unsold, and less than 1% of products are recycled into new garments. The global fashion industry is expected to have a decline of 27%-30% by the end of the year, due to COVID-19. Virtual Reality Hardware/Software Statistics. 1. Its 2021 revenue amounts to $876,710 million. Email info@ukft.org for details. According to jewelry industry statistics 2018, US Jewelry Stores generated $39.7 billion in sales. At the same time, the fashion industry faces challenges in consumer demand. The global shipments of virtual and augmented reality headset shipments in 2020 amounted to 5.5 million units and it is projected to reach 11 million in 2021 and 43.5 million by 2025 (Statista, 2020). This report provides strategists, marketers and senior management with the critical information they need to assess the global fast fashion market. The Indian Textile Industry contributes approximately 5 per cent to India's gross domestic product (GDP), and 14 per cent to overall . Greenhouse gases emissions of the fashion industry. Global Fast Fashion Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion 6. The statistics below will show you a clearer picture of the global outsourcing industry. 3.2 Global Fast Fashion Apparel Revenue by Manufacturer (2019, 2020, 2021, and 2022) 3.3 Key Manufacturer Market Position in Recombinant Hepatitis B Vaccine 3.4 Market Concentration Rate Port Washington, NY, August 6, 2021 - Looking across the 12 global markets (G12) * tracked by The NPD Group, toy industry sales increased by 15% ** to $22.45 billion in the first half (1H) of 2021 vs. the same time period in 2020, and 28% when compared to the $17.59 billion generated in 1H 2019.. First-half 2021 sales increased in all countries vs. 1H 2020, though sales were down in Spain . We must design clothes for longevity, and use clothing for as . According to Statista, the online fashion industry was worth over $439 billion in 2018.This staggering figure is projected to grow to more than double that amount ($953 billion) by 2024, and is currently expected to reach over $758 billion in 2021. 2 This fashion industry is the second highest user of water worldwide, producing 20% of total global water waste. In this article - we share the latest health and wellness industry statistics for 2021, along with key trends for the future. 24. The 2020 pandemic produced a revolution in the event industry that required planners to relearn and rethink everything from business models and sponsorship to event technology and content delivery. Its value is equivalent to 3 trillion dollars. The global Women's Apparel segment accumulated a revenue of $771 billion USD in 2020 - a decline from previous years as a result of the pandemic - but it is projected to see a rise to $1,098 billion USD by 2026 ( Statista ). Up from $483B in 2020 to $511B in 2021 — and with an annual compounded growth rate of 4.75% worldwide — it's predicted to exceed $716B by 2025. The average consumer buys 60% more clothing items every year. The fashion industry accounts for 2% of the world's GDP. ( UNECE) 2. The fashion market social chatter in 2021 was split more or less evenly between: Luxury fashion (37%) Fast fashion (31%) Haute couture (28%) This is a shift from 2020 where haute couture had the largest share at 34%, followed by luxury fashion with 32%, and fast fashion with 30%. The fashion industry, which is worth $1.5 trillion globally 1 and employs more than 300 million people along the value chain 2, is a significant contributor to textile waste & carbon emissions, and, according to Nature, responsible for as much as 10% of all global pollution, making it the second most polluting industry after aviation 3. The global textile market size was valued at USD 993.6 billion in 2021 and is anticipated to grow at a compound annual growth rate (CAGR) of 4.0% from 2022 to 2030. Globally, the industry is strong and only getting stronger. Leading by example, we demand change from the fashion industry and policy makers. Fashion Industry Environmental, Waste, and Recycle Statistics Fashion Industry General Statistics 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). 35% of Millennial and 36% of Gen Z consumers prefer buying "sustainable" and "environmentally friendly" clothing. In 2021, experts predict a 30% growth in online fashion sales in the US. From luxury travel and fine food to sports cars and designer fashion, this industry offers commodities that everybody wants, but only very few can afford. Fast fashion industry statistics forecast that the fast fashion market size will reach $39.84 billion by 2025. ), even forecast period use the platform to plan new projects 17 million tons of textile waste every.... Of the world & # x27 ; s share ( $ 14.4 billion ), even during 2025-2026 slowest! % more clothing items every year revenue will roll in at $ 511 billion in 2022, retail! 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