Fashion industry worldwide 2022: leading countries | Statista (2024)

FAQs

Fashion industry worldwide 2022: leading countries | Statista? ›

France is the leading country for the fashion industry in the world, according to the Brands Countries IPX by IFDAQ. Scoring above 3,000 index points, France was ahead of Italy (2,800 points) and the U.S. (2,235 points).

The countries that account for the majority of this apparel demand are the United States and China, both generating substantially higher revenues than any other country. It is perhaps no surprise that the same two countries play a significant role in international trade.

In the apparel industry, the retail market's growth for apparel would be driven by developing/emerging economies. The fastest-growing apparel market will be India and China, with a CAGR of 8.2 percent and 9.6 percent, respectively, between 2020 and 2025.

Dire consequences for fashion, one of the biggest industries in the world, generating $2.5 trillion in global annual revenues before the pandemic, entails joblessness or financial hardship for people across the value chain.

While the vast majority of students who obtain a degree in fashion are women, men still dominate the industry. The Council of Fashion Designers of America study titled The Glass Runway found that of the top 50 fashion houses in the world, only 14% of them are run by female executives.

Paris. There is little doubt as to why Paris is regarded as the most fashionable city. This fashion capital has a prestigious fashion institute, well-known fashion schools, world-class fashion houses and ateliers, and exhibitions.

The adult wear market was the largest segment of the fast fashion market segmented by age, accounting for 85.9% of the total in 2021. Going forward, the teens wear segment is expected to be the fastest-growing segment in the fast fashion market, at a CAGR of 17.6% during 2021-2026.

In November 2022, Shein accounted for 50 percent of sales among these fast fashion competitors. That same month, the U.S. share of sales was 16 percent for H&M, 13 percent for Zara, 11 percent for Fashion Nova, and 6 percent for Forever 21. ASOS had the lowest share of U.S. fast fashion sales, with 4 percent.

According to the research, the 10 countries most interested in sustainable fashion are: United Kingdom, Ireland, New Zealand, Iceland, Australia, Netherlands, Luxembourg, Norway, Denmark and Canada.

The top 10 clothing brands in the world based on their brand value ranking in 2022 are Nike, Louis Vuitton, Gucci, Chanel, Adidas, Hermès, Zara, H&M, Cartier and UNIQLO.

How big is the US fashion industry? ›

According to our research: The global fashion industry is valued at $1.7 trillion as of 2023. The fashion market had a growth rate of 5.46% in 2017 and was projected to hit 6.2% by 2020. The United States fashion industry is valued at approximately $343.70 billion.

Revenue in the Fashion market is projected to reach US$769bn in 2023. Revenue is expected to show an annual growth rate (CAGR 2023-2027) of 9.45%, resulting in a projected market volume of US$1,103bn by 2027.

Inditex had the highest sales among the selected major apparel retailers and manufacturers, with revenues of approximately 34.5 billion U.S. dollars in fiscal year 2022. Hennes and Mauritz (H&M), and Fast Retailing were ranked second and third, respectively.

The top trends of 2023, including metaverse, social shopping, fit technology, omnichannel retail, supply chain innovation, second-hand fashion, diversity and inclusivity, and personalization and customization, reflect a more innovative and inclusive approach to fashion.