The global sustainable fashion market comprises textiles and clothing produced using organic, eco-friendly, and ethical materials and manufacturing processes. Sustainable fashion emphasizes the use of organic cotton and recycled textiles over conventional cotton grown using pesticides. It also focuses on reducing water usage, greenhouse gas emissions, and chemical pollutants released during the manufacturing stage. Sustainable fashion aims to lessen the fashion industry's impact on the environment and promote socially responsible practices. The rising consumer awareness about environmental degradation and demand for ethically-produced apparel are fueling the growth of the sustainable fashion market.
The Global sustainable fashion market is estimated to be valued at US$ 11.07 BN in 2024 and is expected to exhibit a CAGR of 23% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the global sustainable fashion market are Hexion Inc., Dow Chemical Company, Aditya Birla Chemicals Co. Ltd., Huntsman Corporation, BASF SE, Royal DSM N.V., Eastman Chemical Corporation, Conren Limited, Gellner Industrial LLC, and AllCoat Technology Inc. These players are focusing on expanding their sustainable fashion product portfolios and building strategic partnerships with apparel brands.
The growing consumer demand for environmentally responsible apparel is a major driver for Sustainable Fashion Market Demand. Younger customers, in particular, are more willing to pay premium prices for brands that emphasize sustainability. Rapid urbanization and rising disposable incomes in emerging economies are also fueling spend on ethical fashion.
Global apparel brands are increasingly expanding their sustainable product lines to Europe, North America, and Asia-Pacific regions in response to the worldwide shift toward eco-friendly consumption. New sustainable material innovations and the development of circular business models are also helping fashion companies scale up their green initiatives and international presence.
Market drivers
One of the key drivers for the global sustainable fashion market is increasing regulatory pressure and policies promoting sustainability across the textile value chain. Stringent environmental regulations restricting the use of hazardous chemicals and mandating recycled fiber content quotas are encouraging brands to adopt greener solutions. Carbon taxes and extended producer responsibility laws are also pushing companies to reduce their carbon footprints and improve waste management. The implementation of such policies is expected to accelerate sustainable fashion industry growth over the forecast period.
Current geopolitical tensions are negatively impacting the growth of the global sustainable fashion market. Geopolitical conflicts between major economies like the US, China and Russia have disrupted supply chains and increased commodity prices globally. This has made sustainable raw materials and production more expensive for fashion brands. The ongoing war between Russia and Ukraine has also constrained agricultural exports from the Black Sea region, making natural fibers harder to source. Furthermore, export restrictions and sanctions amid geopolitical tensions have restricted market access for sustainable fashion brands in many countries. For the market to realize its full potential in the coming years, fashion companies will need to establish more localized and flexible supply networks that are less dependent on global trade flows. They should also explore partnerships with smaller producers in less conflict-prone regions to diversify sourcing risks. Overall, reducing geopolitical uncertainties and promoting free trade will be crucial for the sustained growth of the sustainable fashion industry.
Europe currently represents the largest market for sustainable fashion products in terms of value, led by countries like Germany, France, Italy and the UK. Strong consumer demand for ethically-produced apparel and textiles has boosted the uptake of sustainable brands in the region. Additionally, stringent environmental regulations in Europe are driving more fashion companies to adopt sustainable practices. However, the Asia Pacific market is poised to become the fastest growing regional market during the forecast period. This is attributed to increasing health and sustainability awareness among middle-class consumers in emerging economies like China and India. Supportive government policies around green growth are also encouraging apparel brands to invest in more sustainable operations in Asia Pacific. Overall, both mature and developing fashion markets still hold vast opportunities for further growth of sustainable fashion.
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