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The Key Driver Of Fast Fashion Market Growth Is Affordability

Fast Fashion Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

The Business Research Company’s Fast Fashion Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON , UK, March 11, 2022 /EINPresswire.com/ — Increasing adoption of affordable clothes by the rising youth population drove the fast fashion market growth. According to the United Nations estimates of the world’s youth population, in 2019 the youth population totaled 1.2 billion and it’s projected to grow by 7.9 percent to 1.3 million by 2030. Youth population is attracted to unique, trendy and affordable clothes. The apparel manufacturing companies are therefore focusing on bringing fashion clothes from the most recent fashion trends presented in fashion week. The growing preference for affordable fast fashion clothes by increasing youth population boosted the fast fashion market.

Western Europe was the largest region in the fast fashion market in 2021. Asia Pacific was the second largest region in the fast fashion market. The regions covered in the fast-fashion market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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The global fast fashion market size is expected to grow from $91.23 billion in 2021 to $99.23 billion in 2022 at a compound annual growth rate (CAGR) of 8.8%. The global fast fashion market share is then expected to grow to $133.43 billion in 2026 at a CAGR of 7.7%.

Virtual and augmented reality is being used by online and offline retailers in the fast fashion market. The use of virtual or augmented reality in the fast fashion market is to fill the gap between online and offline channels. These technologies enable the customer to try the product and see how it looks when they try the clothes or make-up on them by using virtual reality mirrors or cameras in their smartphones. For instance, applications such as DressingRoom are using augmented reality technology to enable shoppers to try outfits on an avatar. Virtual and augmented reality enhances in-store experience and this is driving the market for fast fashion.

Major players covered in the global fast fashion industry are Zara (Inditex), H&M Group, Fast Retailing (Uniqlo), Gap, Forever 21, Mango, Esprit, Primark, New Look, and River Island.

TBRC’s global fast fashion industry analysis report is segmented by gender into women’s wear, men’s wear, by age into adults wear, teens wear, kids wear, others, by type into pants, coat, skirt, others.

Fast Fashion Global Market Report 2022 – By Gender (Women’s wear, Men’s wear), By Age (Adults wear, Teens wear, Kids wear, Other Ages), By Type (Pants, Coat, Skirt, Other Types) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a fast fashion market overview, forecast fast fashion global market size and growth for the whole market, fast fashion market segments, geographies, fast fashion global market trends, fast fashion market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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Original article: https://www.einpresswire.com/article/565264150/the-key-driver-of-fast-fashion-market-growth-is-affordability