Key Insights
Essential data points from our research
The global fashion market was worth $1.7 trillion in 2022
The global fast fashion market is expected to reach $133.43 billion by 2026
Asia-Pacific accounts for over 38% of the global apparel market share
The online fashion market is expected to reach $1 trillion by 2025
Fashion e-commerce accounted for 23% of total fashion sales in 2022
The secondhand apparel market is expected to reach $350 billion by 2027
By 2030, fashion production is projected to increase by 63%
The sustainable fashion market is valued at $8.25 billion in 2023
67% of consumers consider sustainable materials as important in fashion purchases
Shein became the most downloaded shopping app globally in 2022
The men's apparel segment saw a 9.1% growth in 2021
The women’s apparel market reached $804 billion in 2021
Nearly 30% of US fashion returns are due to improper sizing
E-commerce and Digital Trends
- Fashion e-commerce accounted for 23% of total fashion sales in 2022
- Shein became the most downloaded shopping app globally in 2022
- Nearly 30% of US fashion returns are due to improper sizing
- 79% of fashion execs expect digital channels to be the top investment area
- 45% of Gen Z fashion shoppers have purchased a product after seeing it on TikTok
- Fashion-related online searches increased by 37% in 2021
- 75% of luxury purchases are influenced by online interaction
- Mobile accounted for 65% of all fashion e-commerce traffic in 2021
- The average return rate for online fashion purchases is 30%
- 65% of fashion shoppers use mobile phones to look up products in-store
- 44% of consumers say personalization improves their fashion shopping experience
- Returns cost fashion retailers over $550 billion annually worldwide
- Online shopping cart abandonment in fashion averages 68.9%
- 48% of fashion-related web traffic comes from direct search
- 22% of Gen Z shop fashion through social media platforms
- Digital clothing try-ons increased 32% in 2022
- Women aged 18-34 are the top demographic for fashion subscription services
- Influencer marketing delivers 11x the ROI of traditional advertising for fashion brands
Interpretation
Fashion today is a fast-scrolling, size-misfiring, TikTok-driven, phone-in-hand paradox where style is sold by influencers, returned in bulk, and personalized by algorithms—all while retailers chase clicks, not just couture.
Market Size and Growth
- The global fashion market was worth $1.7 trillion in 2022
- The global fast fashion market is expected to reach $133.43 billion by 2026
- The online fashion market is expected to reach $1 trillion by 2025
- The secondhand apparel market is expected to reach $350 billion by 2027
- By 2030, fashion production is projected to increase by 63%
- The sustainable fashion market is valued at $8.25 billion in 2023
- The men's apparel segment saw a 9.1% growth in 2021
- The women’s apparel market reached $804 billion in 2021
- The footwear market is projected to reach $530 billion by 2028
- Luxury fashion accounts for 20% of global fashion revenues
- The global luxury resale market grew by 65% in 2021
- US apparel imports totaled $77.9 billion in 2022
- The average US consumer buys 68 garments per year
- Secondhand fashion grew 7x faster than overall retail in 2022
- Global footwear production exceeded 24 billion pairs in 2021
- Digital fashion is forecasted to be a $50 billion market by 2030
- The plus-size apparel market globally was worth $288.2 billion in 2022
- India’s fashion industry is projected to grow to $106 billion by 2026
- The UK fashion industry contributes £35 billion to the economy annually
- Global fashion influencers market is valued at $20 billion in 2023
- 80 billion garments are produced each year
- The average fashion brand increases prices 2–3% annually
- Resale is expected to make up 18% of the fashion market by 2031
- Brazilian fashion market expected to grow 6.1% CAGR from 2023-2028
- Fashion's share of global GDP is roughly 2%
- The kids apparel market surpassed $263 billion in 2021
- Subscription fashion boxes market expected to reach $1.5 billion by 2027
- The global sportswear market was valued at $319 billion in 2022
- The luxury handbag market is projected to reach $94 billion by 2028
- The global workwear market is expected to reach $37 billion by 2027
- The average fashion shopper spends $161 on clothing per month
- 1 in 6 people in the world work in the fashion industry supply chain
- US apparel market revenue is expected to reach $437 billion in 2023
- The fashion metaverse market is expected to reach $6.61 billion by 2026
Interpretation
In a world where 80 billion garments are stitched yearly, secondhand sales grow seven times faster than retail, and digital outfits can fetch billions, the fashion industry struts a paradoxical runway—balancing explosive growth, environmental reckoning, and a consumer base that buys 68 garments a year while increasingly questioning where their clothes come from.
Regional Market Insights
- Asia-Pacific accounts for over 38% of the global apparel market share
- In 2022, Nike held 38.23% of the US athletic footwear market
- China is the largest producer of textiles, accounting for over 50% of global production
Interpretation
While China weaves the world’s wardrobes and Asia-Pacific struts with over a third of global apparel clout, Nike still runs the show stateside—owning the track, the court, and 38.23% of America's sneaker game.
Sustainability and Consumer Awareness
- 67% of consumers consider sustainable materials as important in fashion purchases
- Fashion is responsible for 10% of global carbon emissions
- Over 92 million tons of textile waste are created annually
- Fast fashion companies release new clothing every two weeks on average
- Up to 30% of clothing in the average wardrobe is not worn in a year
- 60% of millennials prefer investing in sustainable brands
- A single cotton t-shirt requires 2,700 liters of water to produce
- 43% of fashion brands plan to improve supply chain transparency
- The average fashion item is worn only 7 times
- 90% of fashion brands do not pay workers a living wage
- 20% of global industrial water pollution is from textile dyeing
- 93% of fashion brands surveyed are not actively reducing supply chain emissions
- Fashion is the second most polluting industry after oil
- In 2021, 61% of consumers said brand values influenced fashion purchases
- 74% of consumers want more transparency from fashion brands
- 90% of fashion consumers are not aware how garments are made
- Returns from fashion e-commerce create 5 billion pounds of waste annually
Interpretation
Fashion may strut sustainability on the runway, but behind the scenes it’s spinning a tangled web of pollution, waste, and ignorance—proving that style without substance is costing us the earth.
Technology and Innovation in Fashion
- More than 50% of fashion companies use AI for product recommendations
- AR technology in fashion retail increases conversion rates by 40%
Interpretation
As fashion gets smarter, more than half of brands now let AI choose your outfit, while AR mirrors boost buying confidence enough to turn virtual try-ons into 40% more real-life sales.
