Global Sustainable Fashion Market is driven by growing consumer demand for eco-friendly materials
The Global sustainable fashion market is estimated to be valued at US$ 11.07 BN in 2024 and is expected to exhibit a CAGR of 23% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the global sustainable fashion market are Hexion Inc., Dow Chemical Company, Aditya Birla Chemicals Co. Ltd., Huntsman Corporation, BASF SE, Royal DSM N.V., Eastman Chemical Corporation, Conren Limited, Gellner Industrial LLC, and AllCoat Technology Inc. These players are focusing on expanding their sustainable fashion product portfolios and building strategic partnerships with apparel brands.
The growing consumer demand for environmentally responsible apparel is a major driver for Sustainable Fashion Market Demand. Younger customers, in particular, are more willing to pay premium prices for brands that emphasize sustainability. Rapid urbanization and rising disposable incomes in emerging economies are also fueling spend on ethical fashion.
Global apparel brands are increasingly expanding their sustainable product lines to Europe, North America, and Asia-Pacific regions in response to the worldwide shift toward eco-friendly consumption. New sustainable material innovations and the development of circular business models are also helping fashion companies scale up their green initiatives and international presence.
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