India is in the top ten for the biggest slow fashion market share: 2024 study

India is in the top ten for the biggest slow fashion market share: 2024 study

Public Desire has analyzed more than 20 countries to find out those that are the most advanced in sustainable fashion. The study was conducted based on metrics such as the countries’ apparel market size, their fast fashion and slow fashion revenue in 2024, and the percentage of the fast fashion and slow/sustainable fashion revenue in the overall apparel market.

The statistics were retrieved from Statista, IBIS World, as well as the official reports published by some of the countries. To measure the amount of public’s engagement with the two fashion industries, the researchers identified the top fast fashion brands in each country, by conducting a closer study into each fast fashion brand, and the number of searches on the web. Shein was found to be the most searched fast fashion brands in all the countries analyzed. To measure the popularity of sustainable fashion, a separate search was done to find out how many times “thrift stores near me” were searched across all the countries analyzed.

Countries Apparel market Fast fashion revenue 2024 % of fast fashion in apparel market Slow fashion revenue % of slow fashion in apparel market “Shein” search amount “Thrift stores near me” search
United Arab Emirates $10.55 billion $2.37 billion 22.46 $5 billion 47.393 140,000 2,000
Estonia $0.96 billion $21 million 21.88 $43.91 million 45.740 73,100 370
Finland $4.45 billion $1.37 billion 30.79 $959 million 21.551 156,000 2800
Japan $89.90 billion $18 billion 20.02 $18 billion 20.022 966,000 32,900
France $40.65 billion $16.63 billion 40.79 $7.9 billion 19.410 5,670,000 20,400
Canada $20 billion $16.45 billion 82.50 $2.6 billion 13.000 1,400,000 327,000
Australia $18 billion $7.64 billion 42.44 $1.98 billion 11.000 382,000 3600
USA $358.70 billion $136 billion 37.91 $39 billion 10.873 13,200,000 3,270,000
India $105.50 billion $14.68 billion 13.87 $9 billion 8.491 975,000 24,000
Latvia $849.50 million $153 million 18.01 $41.8 million 4.921 70,800 1300

The UAE ranks first in the slow fashion market, with 47.393% of its apparel market revenue coming from sustainable fashion, amounting to $5 billion. This significant share indicates a strong consumer preference for slow fashion despite having a substantial fast fashion market share of 22.46%.

Estonia takes the second position with one of the biggest shares of the slow/sustainable fashion retail in the overall apparel market at 45%. The apparel market size of the country is $960 million, in which the slow fashion market size is $43.91 million, twice as big as the fast fashion market. The search amount for the most popular fast fashion brand is the second lowest, showing the country’s less engagement with fast fashion trends.

Finland holds the third place. The country has a balanced distribution between fast fashion at 30.7% and slow fashion at 21.5%. This indicates that while there is a substantial market for fast fashion, a significant portion of consumers also prioritize sustainable fashion choices.

Japan is the fourth with the third largest search amount of “thrift stores near me” at 32,900 searches. Fast fashion accounts for 20.02% of the market, while slow fashion holds a nearly equal share of 20.022%, each contributing $18 billion. This parity indicates a balanced consumer approach to fashion sustainability.

France comes in fifth with a slow fashion market share of 19.4%, $7.9 billion. The country also stands out with an impressively large amount of searches for the popular fast fashion brand at more than 5 million, the second largest in the list. The search amount for “thrift stores near me,” is 20,400, indicating the fast fashion market’s popularity over sustainable fashion.

Canada takes the sixth place with slow fashion taking up 13% of the apparel market, amounting to $2.6 billion. This disparity highlights a strong preference for fast fashion among Canadian consumers. The country has the second most amount of searches for “thrift stores near me”  at 327,000, indicating significant interest in sustainable clothing.

Australia is the seventh in the ranking, with an 11% share or $1.98 billion for slow fashion, in an $18 billion apparel market. The country also sees 382,000 searches for “Shein” and 3,600 for “thrift stores near me,” reflecting a varied interest in fashion choices.

The USA ranks eighth with the largest apparel market valued at $358.70 billion. Slow fashion constitutes 10.873% of the market, or $39 billion, while fast fashion takes up 37.9% of the entire apparel market. The USA also has the largest search amount both for fast fashion brand “Shein” at 13,200,000 and 3,270,000 for “thrift stores near me,” indicating a broad interest in both fast and sustainable fashion.

India is the ninth with slow fashion accounting for 8.491% of the market, or $9 billion. Fast fashion, on the other hand, makes up 13.87% of the apparel industry. This nearly equal distribution shows a growing, but still limited, preference for sustainable fashion among Indian consumers. India also records 975,000 searches for “Shein” and 24,000 for “thrift stores near me,” reflecting diverse fashion interests.

Latvia rounds up the ranking, with a slow fashion market share of 4.9%. On the contrary, the country’s $849.50 million apparel market has a fast fashion share of 18.01%, or $153 million. This distribution highlights a more significant inclination towards fast fashion.

A spokesperson from Public Desire commented on the study “There is a global trend towards sustainability in fashion, with significant variations based on regional consumer preferences and market dynamics. As awareness and demand for sustainable fashion grow, it will be interesting to observe how these markets evolve and the potential impact on the global fashion industry.”

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