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Key Trends Among Ethical Fashion Market Players: Recycling And Upcycling

Ethical Fashion Global Market - Opportunities And Strategies - Global Forecast To 2030

Ethical Fashion Market - Opportunities And Strategies - Global Forecast To 2030

The Business Research Company’s Ethical Fashion Market - Opportunities And Strategies - Global Forecast To 2030

LONDON, GREATER LONDON, UK, December 8, 2021 /EINPresswire.com/ -- Companies in the ethical fashion market are recycling and upcycling in order to reduce wastage. Recycling reduces the consumption of energy and raw materials used in the manufacturing process. In Upcycling, the discarded materials out of the manufacturing process are used to create a high-quality product. It can significantly reduce wastage by using all the deadstock and gently used fabric to create new apparels. It can be done using used clothes too, which helps in re-fashioning many of the clothes into different styles. By minimizing or reducing the waste materials in manufacturing, companies can also see a positive effect in their revenues. Companies like Hipsters For Sisters make their products entirely with recycled, upcycled, or deadstock materials. Nike’s Flyleather is made out of at least 50% recycled leather fiber which reduces their carbon footprint significantly.

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Government initiatives for the development of ethical fashion is expected to drive the ethical fashion market in the forecast period. Governments worldwide are focusing on the development of the ethical fashion industry due to their sustainable nature. In 2018, the government of China announced its plan of sustainable manufacturing including the apparel manufacturing industry. In June 2018, Shanghai announced that the city will promote green manufacturing initiatives to move towards sustainable manufacturing. In August 2019, the government of India launched a project, SU.RE which aims to move towards sustainable fashion that contributes to a clean environment. The initiative includes 16 leading retail fashion brands, who have pledged to source or utilize a substantial portion of their total consumption using sustainable raw materials and processes by 2025. In another instance, in 2019, the government of France announced its decision to make Paris the sustainable fashion capital of the world by 2024. The government launched a ‘Paris Good Fashion’ initiative which is expected to bring designers and experts together to help make the fashion industry greener. In February 2020, the government of France passed a regulation which requires clothing companies in the country to follow around 100 sustainability provisions, including a prohibition on the destruction of unsold goods.

The global ethical fashion market size reached a value of nearly $8.25 billion in 2023 at a compound annual growth rate (CAGR) of 6.8%. The growth is mainly due to the growing awareness about using ethical fashion for sustainability. The market is expected to grow from $8.25 billion in 2023 to $9.81 billion in 2025 at a CAGR of 9.1%. The market is expected to grow and reach $15.17 billion in 2030 with a CAGR of 9.1%.

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Major players covered in the global ethical fashion industry are Eileen Fisher, Reformation, H&M Conscious (H&M Group), Levi Strauss & Co., Alternative Apparel, Inc.

TBRC’s global ethical fashion market report is segmented by type into fair trade, animal cruelty free, ecofriendly, charitable brands, by product into organic, manmade/regenerated, recycled, natural, by end-user into men, women, kids.

The top opportunities in the ethical fashion market segmented by product will arise in the organic segment, which will gain $686.3 million of global annual sales by 2023. The top opportunities in the ethical fashion market segmented by type will arise in the eco-friendly segment, which will gain $840.1 million of global annual sales by 2023. The top opportunities in the ethical fashion market segmented by end-user will arise in the men segment, which will gain $954.1 million of global annual sales by 2023. The ethical fashion market size will gain the most in the China at $367.1 million.

Ethical Fashion Market - By Product (Organic, Man-Made/Regenerated, Recycled, Natural), By Type (Fair Trade, Animal Cruelty, Eco-Friendly, Charitable Brands), By End-User (Men, Women, Kids) And By Region, Opportunities And Strategies - Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provides ethical fashion market overview, forecast ethical fashion market size and growth for the whole market, ethical fashion market segments, and geographies, ethical fashion market trends, ethical fashion market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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