Mass Luxury Fashion Market Size and Growth Rate

Market Size and Growth Rate

• Globally, the whole fashion industry is valued at a whopping $25 billion and is expected to reach $30 billion by 2025, according to the Fashion Network Report with a CAGR of 7%. Thich is actually a market size decrease from $67.85 billion in 2018.
• Besides, the market had some challenges during the pandemic while adapting to the new normal and setting up eCommerce platforms which have diverted much of the sales from in-store selling. The industry is estimated to grow exponentially with a CAGR of 7% reaching more than $ 30 billion by 2025 as consumer adapts to the new normal while outdoor activities gradually resume back to normal. 
• The high growth rate is forecasted with a great demand for fashionable wear as social media has become a popular platform during the pandemic to shop and showcasing fashion sense from different styles and regimes.