( MENAFN - EIN Presswire) The fast fashion market share gains substantial momentum from the unwavering appetite of consumers for the latest trends PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, UNITED STATE, May 30, 2024 /EINPresswire / -- According to a new report published by Allied Market Research, titled, "Fast Fashion Market ," The fast fashion market was valued at $103.20 billion in 2022, and is estimated to reach $291.1 billion by 2032, growing at a CAGR of 10.
7% from 2023 to 2032. Fast fashion refers to a business model and trend in the fashion industry where clothing and accessories are designed, produced, and distributed rapidly and at a low cost to quickly respond to the latest trends and consumer demand. The fast fashion market focuses on delivering current, trendy styles to consumers at affordable prices, but it often comes at the expense of ethical and sustainable practices.
Consumers in developing countries have shown a distinct preference for fast fashion due to a combination of factors that align with their economic, social, and cultural circumstances. Affordability and accessibility are the main factors attracting consumers towards fast fashion. In developing countries, where disposable income levels may be lower than in developed nations, affordability plays a crucial role in consumer choices.
Fast fashion brands are known for their cost-effective offerings, allowing consumers to keep up with the latest fast fashion market trends without breaking the bank. The a.
