A new report reveals the fast fashion market is headed toward a record high market valuation by 2032, even though tariffs and consumer surveys suggested challenges were on the horizon for an industry with a worrying human-rights record and impact on the environment.
What's happening?
Maximize Market Research expects the fast fashion market to have a 7.59% compound annual growth rate from 2024 to 2032, soaring to nearly $206 billion in value by the end of that time frame. Last year, the industry clocked in at approximately $115 billion, per a media release from OpenPR.
The research firm identified two key factors fueling the surge: youth demand and digital innovation that enhances the shopper experience.
Women accounted for around 60% of the customer base in 2024 and are expected to continue fueling growth. According to the analysis, social pressures are a significant element at play.
North America and Europe — two regions that usually dominate the market — are still on an upward trajectory. While some believe tariffs could put a damper on fast fashion consumption in the United States, fashion giant Shein leased a warehouse for operations in Vietnam, perhaps mitigating "risks associated with fluctuating U.S.-China trade tensions."
The emerging Asia-Pacific and African markets are also experiencing rapid growth as urban areas expand and more people have disposable income.
Why is this important?
Even though ThredUp's 2025 resale report found that the global secondhand apparel market is growing 2.7 times faster than the overall apparel market, the latest analysis reveals that fast fashion still has a strong pull — which could cost us all in more ways than one.
In order to maximize profits, fast fashion brands rapidly produce large quantities of trendy apparel from low-quality materials, often containing plastic, encouraging consumers to keep opening their wallets for items not made to last.
According to Earth.org, many people lured in by this money-draining throwaway culture wear a garment no more than 10 times before discarding it, contributing to more than 101 million tons of textiles that end up in landfills each year. This waste generates methane, a potent planet-warming gas, and leaches toxic chemicals into our ecosystems that threaten wildlife and public health.
This business model also comes with serious ethical concerns, as workers have reported unlivable wages, long hours, and unsafe or abusive conditions.
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Promoting clean energy 🔋 What's being done about this?
Despite the latest report, there are reasons for optimism. When more consumers purchase secondhand instead of shopping at companies with questionable records on ethical and sustainable apparel, the demand driving fast fashion production is reduced.
Fortunately, while Maximize Market Research found that digital innovation has enhanced the fast fashion shopping experience, the same could be said for the secondhand market.
ThredUp reported that nearly half of resale shoppers say personalization and improved search options make secondhand shopping just as easy as buying new.
The majority of retail executives also said efforts to launch enhanced secondhand search tools were in the works or already underway.
When realized, this could attract the 49% of consumers (including 60% of younger generations) who said they'd buy more secondhand items if they found it easier than purchasing new.
ThredUp, Goodwill Finds, and Poshmark are just a few of the easy-to-navigate online platforms already connecting thrift shoppers with high-quality resale gems for a fraction of their original price.
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