The Business Research Company’s Ethical Fashion Global Market Report 2021: COVID-19 Growth And Change To 2030
LONDON, GREATER LONDON, UK, September 8, 2021 /EINPresswire.com/ — According to the new market research report ‘Ethical Fashion Global Market Report 2021: COVID-19 Growth And Change’ published by The Business Research Company, the ethical fashion market is expected grow from $4.67 billion in 2020 to $5.84 billion in 2021 at a compound annual growth rate (CAGR) of 25.1%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $8.3 billion in 2023 at a CAGR of 9%. Considering these processes that harm environment, people are shifting towards environment friendly materials, and this factor is contributing to the growth of ethical fashion market.
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The ethical fashion market consists of revenues generated by the establishments that are primarily engaged in designing, production, retail, and purchasing of ethical fashion apparels. Ethical fashion is about designing and manufacturing clothes that care for people and communities while minimizing the impact on the environment. It focuses on both the social and environmental impact of fashion, and to improve the working conditions of laborers.
Trends In The Global Ethical Fashion Market
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.
Global Ethical Fashion Market Segments:
The global ethical fashion market is further segmented based on type, product, end-user and geography.
By Type: Fair Trade, Animal Cruelty Free, Ecofriendly, Charitable Brands
By Product: Organic, Manmade/Regenerated, Recycled, Natural
By End-User: Men, Women, Kids
By Geography: The global ethical fashion market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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Ethical Fashion Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides ethical fashion global market overviews, analyzes and forecasts market size and growth for the global ethical fashion market, ethical fashion global market share, ethical fashion global market players, ethical fashion global market segments and geographies, ethical fashion global market’s leading competitors’ revenues, profiles and market shares. The ethical fashion global market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Read Ethical Fashion Global Market Report 2021 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Ethical Fashion Market Organizations Covered: Christian Dior SE, H&M AB, NIKE Inc, Adidas AG, Pact, Tentree, Everlane, Eileen Fisher.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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