Revenue generated by the global apparel market steadily increased over the course of the observed time period, up until 2020, when the coronavirus (COVID-19) pandemic heavily impacted retail. In 2021, the revenue of this market was approximately $1.55 trillion U.S. dollars. According to the Consumer Market Outlook, this value will increase to almost 2 trillion U.S. dollars by 2026.
In 2026, the global market value of fast fashion is forecasted to reach a value of approximately 133 billion U.S. dollars.
In 2021, the global market value of secondhand and resale apparel was estimated to be worth 96 billion U.S. dollars. This value is projected to rise rapidly in the coming years, more than doubling in size from 2021 to 2025, before reaching a value of 218 billion dollars in 2026.
Ethical fashion is hard to define as there are numerous criteria and interpretations of what makes a company ethical. In this statistic, it is defined as fair trade, sustainable, with no abuse or exploitation during any stage of the supply chain. The value of the ethical fashion market is estimated to increase by over three billion U.S. dollars from 2021 to 2025, when it is projected to reach a value of approximately 10 billion dollars.
Estimated value of three fashion market worldwide from 2020 to 2025 (in billion U.S. dollars)
The apparel industry is considered one of the worst polluting industries, generating huge volumes of greenhouse gas emissions. It was calculated that in 2019, the apparel industry emitted approximately 1.01 gigatons of carbon dioxide equivalents into the atmosphere. This is estimated to increase to 1.6 gigatons by 2030 if no drastic action is taken.
In 2021, the apparent consumption of apparel worldwide was approximately 168.4 billion pieces. According to estimates of the Statista Consumer Market Outlook, this value is expected to increase in the coming years to 197.3 billion pieces in 2026.
Projection worldwide from 2019 to 2026 (in billion pieces and in megatons)
In 2021, eco clothing for men at mass retailers in the United States tended to be sold at a slightly higher price point than the average market price. The only category of clothing that was actually cheaper as an eco product was outerwear. The category with the biggest price gap was bottoms, with a 12 U.S. dollars price difference.
In 2021, eco clothing for women at mass retailers in the United States tended to be sold at a slightly higher price point than the average market price for similar items of clothing. The only category of clothing that was actually cheaper as an eco product was outerwear. The category with the biggest price gap was footwear, as eco shoes were on average 18 U.S. dollars more expensive.
One of the biggest reasons that consumers are not shifting toward ethical fashion is the price of the garments. Buying fewer clothes that are ethichally source is one of the best ways to make a positive change.
United States in 2021, by product category (in U.S. dollars)
Male
Female
Outerwear is the only category where eco product was cheaper.
Footwear is the category with the biggest gap ($18).
Source: Edited.com
This year, 250 of the world’s largest fashion brands and retailers were reviewed and ranked according to what information they disclose about their social and environmental policies, practices and impacts, in their operations and supply chain.
Fashion Transparency Index is a tool to push and incentivise the world’s largest fashion brands to be more transparent about their social and environmental efforts. Transparency is foundational to achieving systemic change in the global fashion industry.
Transparency is a first step; it is not radical, but it is necessary. When brands publicly disclose information, it allows anyone to scrutinise their policies, hold them accountable for their claims and advocate for positive change.
The average FTI score in 2022 from 250 companies world- wide is 59.9 or 24 percent, a gain of only one percent versus 2021. Three fashion brands are tied for the top slot — mass- market retailers Kmart Australia and Target Australia, and Italian retailer OVS — which scored 78 percent each. H&M, The North Face, and Timberland are following the top three.
Average FTI score 2022 from 250 companies: 59.9
Average Scores of Human Rights and Environmental Policies
Companies' efforts in diversity and inclussion and energy and greenhouse gas emissions are increasing with average of more than 70%.
Top 20 Most Transparent Fashion Company Worldwide
Source: Fashionrevolution.org
