The Ethical Fashion Global Market Report 2023 by The Business Research Company, provides ethical fashion market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032
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According to The Business Research Company’s Ethical Fashion Global Market Report 2023, the market size will grow from $7.57 billion in 2022 to $8.17 billion in 2023 at a compound annual growth rate (CAGR) of 8.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global ethical fashion market size is expected to grow to $11.12 billion in 2027 at a CAGR of 8.0%.
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 litres 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 the environment, people are shifting towards environment-friendly materials, and this factor is contributing to the growth of the ethical fashion market.
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The ethical fashion market is segmented:
1) By Type: Fair trade, Animal cruelty free, Eco friendly, Charitable brands
2) By Product: Organic, Manmade/regenerated, Recycled, Natural
3) By End-User Sex: Men, Women, Kids
Natural resources are being used as alternatives for complex and adversely affecting chemicals-based textiles. Chemicals such as chromium which are toxic are heavily used in the leather tanning process. To address the concerns with toxic chemicals, Carmen Hijosa, founder of Ananas Anam, developed ‘Pinatex’, a natural leather alternative made from cellulose fibres extracted from pineapple leaves as an alternative to it and other petroleum-based textiles. The industrial process used to create Pinatex produces biomass, which can be converted into a fertilizer that farmers can spread into their soil to grow the next pineapple harvest. The use of natural and sustainable materials is current trend in ethical fashion market.
The ethical fashion market report table of contents includes:
1. Executive Summary
2. Ethical Fashion Market Characteristics
3. Ethical Fashion Market Trends And Strategies
4. Ethical Fashion Market – Macro Economic Scenario
5. Ethical Fashion Market Size And Growth
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26. Africa Ethical Fashion Market
27. Ethical Fashion Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Ethical Fashion Market
29. Ethical Fashion Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- Christian Dior SE
- H&M AB
- NIKE Inc
- Adidas AG
- Pact
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