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How much is the fashion industry worth worldwide?

Author

Matthew Cannon

Updated on March 08, 2026

How much is the fashion industry worth worldwide?

The global clothing and apparel market reached a value of nearly $758.4 billion in 2018, having grown at a compound annual growth rate (CAGR) of 7.5% since 2014, and is expected to grow at a CAGR of 11.8% to nearly $1,182.9 billion by 2022.

Besides, how much is the clothing industry worth 2019?

UPDATE February 2019. The value of the total fashion retail market, including footwear but excluding jewellery, is $1.78 trillion, a jump of 14% since our 2018 report.

Beside above, how much is the fashion industry worth 2020? The global apparel market is projected to grow in value from 1.3 trillion U.S. dollars in 2015 to about 1.5 trillion dollars in 2020, showing that the demand for clothing and shoes is on the rise across the world.

In this way, how much is the global fashion industry worth?

Fashion is one of the past decade's rare economic success stories. Over that period, the industry has grown at 5.5 percent annually, according to the McKinsey Global Fashion Index, to now be worth an estimated $2.4 trillion.

How big is the fashion industry worldwide?

GDP per capita (PPS):

Market share of the fashion industry:4 percent
Domestic market value of the fashion industry:406 billion dollars
Employment in fashion-related industries:1.9 million

Is the fashion industry growing or declining?

The fast fashion industry is big business – and it's only getting bigger. According to new research, the industry has grown 21% over the past three years. The McKinsey Global Fashion Index forecasts overall fashion industry growth of 3.5 to 4.5% in 2019.

Which country buys the most clothes?

China

What is the biggest industry in the world?

Hi Peter: These are the world' biggest industries in dollars.
  • ALCOHOL INDUSTRY - $1161 BILLION.
  • OPEC REVENUE - $1027 BILLION.
  • GLOBAL PHARMA MARKET - $950 BILLION.
  • APPLE - $500 BILLION.
  • WORLDWIDE TV INDUSTRY - $364 BILLION.
  • WALMART - $228 BILLION.
  • MICROSOFT - $224 BILLION.
  • EBAY - $175 BILLION.

Is fashion the biggest industry?

Clothing has always been big business for the UK. The wool trade once accounted for 80% of exports from the British Isles. Now the UK's Fashion industry is worth £26 billion & 800,000 jobs to the economy , making it the UK's largest creative industry.

How much is the clothing industry?

Fashion is one of the past decade's rare economic success stories. Over that period, the industry has grown at 5.5 percent annually, according to the McKinsey Global Fashion Index, to now be worth an estimated $2.4 trillion.

Is the clothing industry profitable?

Profit margins for retail clothes are generally within a range of 4 percent to 13 percent according to industry analysts. When all costs are considered, the profit the clothing company actually earns is much lower, and in order to stay in business, clothing retailers need to sell a high volume of merchandise.

How much is the luxury fashion industry worth?

The global luxury apparel market size was valued at USD 67.85 billion in 2018 expanding at a CAGR of 3.5% over the forecast period.

How big is the fashion market?

The Size of the Global Fashion Retail Market. The global retail apparel market is worth $1.4 trillion. Footwear sales globally are worth $366 billion.

How much is the fashion industry growing?

The global clothing and apparel market reached a value of nearly $758.4 billion in 2018, having grown at a compound annual growth rate (CAGR) of 7.5% since 2014, and is expected to grow at a CAGR of 11.8% to nearly $1,182.9 billion by 2022.

What is the global fashion industry?

Fashion industry, multibillion-dollar global enterprise devoted to the business of making and selling clothes. The fashion industry is a product of the modern age. Prior to the mid-19th century, virtually all clothing was handmade for individuals, either as home production or on order from dressmakers and tailors.

How much is the beauty industry worth?

The beauty industry is valued at $532 billion and is on a rapid upward trajectory, according to a new report from retail analytics firm Edited.

Why does the fashion industry have value?

FASHION INDUSTRY & CREATIVE ECONOMY
Fashion industry creates new ways of commercial, cultural values as it earns profit from the creative skills, workforce and intellectual property while executing ideas in a commercially profitable way.

How big is the fashion industry in the US?

Fashion is a highly sophisticated, $2.5 trillion global industry. In the United States alone, consumers spent nearly $380 billion on apparel and footwear in 2017.

How many clothing brands are in the world?

The global fashion market is dominated by 20 companies, according to new research from management consultancy firm McKinsey & Company.

How much is the French fashion industry worth?

French Fashion Flags Its Economic Importance. Annual sales generated by fashion-related businesses based in France totalled €150 billion ($170 billion), compared with €102 billion for aerospace and €39 billion for cars.

How much is the sports industry worth?

In 2018, the North American sports market had a value of about 71.06 billion U.S. dollars. This figure is expected to rise to 83.1 billion by 2023. The market is composed of the segments gate revenues, media rights, sponsorships and merchandising.

How many times do we wear fast fashion garments?

What Is Fast Fashion, and Why Is Everyone Talking About It? This year, the average person will buy 68 garments, and wear each piece only seven times before disposing of it, according to the Wall Street Journal.

How many jobs are in the fashion industry?

While most jobs in the industry are in retail, today 135,000 fashion jobs nationwide are also in apparel manufacturing. Wholesale merchandizing accounts for 145,000 employees. Designers account for 18,000 workers and the number of models in the industry is over 5,000.

How fast does fashion affect the environment?

Fast fashion
Every year the world as a whole consumes more than 80 billion items of clothing. Those clothes contribute to resource pollution and waste pollution, due to the fact that most of these items will one day be thrown out. People are consuming more and they want it for cheaper prices.

When did fast fashion start?

1990s

When did the fashion industry start?

19th century

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