Global Circular Fashion Market Size Likely to Reach at a CAGR of 7.8% By 2033

Global Circular Fashion Market size was valued at USD 6.4 Billion in 2024 and is expected to reach USD 13.8 Billion by 2033, at a CAGR of 7.8% during the forecast period 2024 – 2033.

Circular Fashion Market: Overview

Circular fashion is a sustainable approach to the design, production, consumption, and disposal of clothing and accessories. It aims to create a closed-loop system where materials are continuously reused, recycled, or repurposed, minimizing waste and environmental impact throughout the entire lifecycle of fashion products.

In the upcoming years, the market for circular fashion is expected to increase significantly. The younger generations prefer to purchase products from companies that use circular business strategies. The resale and rental marketplaces have become important venues for interacting with these moral consumers.

Europe is the leader in circular fashion, with the U.K. and Germany leading the way in the adoption of rental and resale. However, given their enormous fashion marketplaces, China and the United States offer significant prospects.

The restricted scope and accessibility of circular offerings in comparison to conventional retail behemoths is one constraint. Well-known companies are hesitantly joining the market since circular challenges the business paradigms of mass manufacturing and consumption.

Today top businesses are incorporating circularity into every step of their supply chain by utilizing sustainable materials, renewable energy sources, effective procedures, and creative business concepts like reselling clothes. The growing demand for eco-friendly products is expected to fuel a strong expansion in the global sustainable fashion industry in the upcoming years.

By product type, the apparel segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. The expanding demand for environmentally friendly clothing made of organic cotton, recycled polyester, and regenerated fibres.

The clothing categories, from sporting and formal dress to daily wear, have seen a significant uptake of sustainable fashion. This market is expanding because more and more customers are looking for ethical and environmentally sustainable apparel solutions.

By distribution channel, the online distribution segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. The online distribution channel segment is dominating the market considering the changing interests of consumers when it comes to buying, online retail is predicted to have a leading position in the global circular fashion market.

By textile source, the organic fabrics segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. Many people are choosing environmentally friendly products that protect biodiversity and minimize pollution.

North America led the Circular Fashion Market in 2023 with a market share of 40.00% and is expected to keep its dominance during the forecast period 2024-2033. The rise in ethical consumerism in North America is the primary driver of the market boom, with the US placing a special emphasis on sustainable practices in apparel, accessories, and footwear.

H&M is a leading player in the circular fashion market. Sustainable collections by H&M use ethical production methods and environmentally beneficial materials. These lines provide customers with the ability to choose environmentally friendly products.

Report Scope

CMI has comprehensively analyzed the Global Circular Fashion market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict an in-depth scenario of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this Global Blister Packaging industry.

The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.

List of the prominent players in the Circular Fashion Market:

• H&M
• Zara
• Gap Inc.
• Gucci
• Nike
• Adidas
• Levi Strauss & Co.
• VF Corporation
• Fast Retailing (Uniqlo)
• Prada
• Burberry
• Hermes
• Ralph Lauren
• PUMA
• eBay
• Lululemon
• Eileen Fisher
• Patagonia
• Stella McCartney
• Everlane
• Others

The Circular Fashion Market is segmented as follows:

By Product Type

• Apparel
• Accessories
• Footwear
• Others

By Textile Source

• Organic
• Recycled
• Reused
• Natural Materials
• Others

By Distribution Channel

• Online
• Offline
• Others

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America