Fast fashion market forecast worldwide 2021-2027| ��ƽ��

Fast fashion market value forecast worldwide from 2021 to 2027 (in billion U.S. dollars)

Characteristic	Market value in billion U.S. dollars
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Sources

Release date

May 2023

More information

Region

Worldwide

Survey time period

February 2023

Supplementary notes

For the ��ƽ�� estimate an exponential development of the values between 2023 and 2027 was assumed to estimate the annual values. The values for 2023 and 2027 were provided by the source. The value for 2022 was also provided by the source, but was not used in the forecast estimate.
Figures have been rounded.

Citation formats

The value of the fast fashion market worldwide was estimated to be worth over *** billion U.S. dollars in 2022. This was forecast to rise considerably in the following years. In 2027, the global market value of fast fashion was forecast to reach a value of approximately *** billion U.S. dollars.

H&M and Zara

Two of the major brands in the fast fashion industry are H&M and Zara. These two brands have jostled for position as the market leader in recent years, with the title for highest brand value changing hands on several occasions. In 2022, Zara came out on top, with a value of approximately ** billion U.S. dollars. Zara is owned by the Spanish company Inditex, which also operates brands such as Bershka and Pull&Bear.

Shein making gains in the U.S.

However, these two brands have faced increased competition from online retailers, one of the most notable being Shein, the Chinese fast fashion company. Shein saw its share of the fast fashion market in the United States more than double from March 2020 to 2022, claiming the largest portion of the market. This came at the expense of brands such as H&M, which lost a ** percent share.