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Globalization has encouraged the rapid growth of the fast fashion industry. Global retail sales of apparel in 2019 reached 1.9 trillion U.S dollars, a new high – this number is expected to double to three trillion U.S. dollars by the year 2030. The world consumes more than 80 billion items of clothing annually. [17]
It certifies factories according to twelve "Worldwide Responsible Apparel Production Principles". The organization was established in 2000 by the American Apparel and Footwear Association . [ 2 ] [ 3 ] By 2008 it had certified 1700 factories in 60 countries, and issued 1100 certificates in that year. [ 2 ]
The fashion industry is the second largest polluter in the world, just after the oil industry. [58] Globalization has made it possible to produce clothing at increasingly lower prices that many consumers consider fashion to be disposable. [14] [page needed] Developing countries typically produce the textiles and clothing for developed countries ...
The Higg Index is an apparel and footwear industry self-assessment standard to rate environmental and social sustainability throughout the supply chain.The Sustainable Apparel Coalition (SAC) launched it in 2012 and owns and develops the suite of tools.
Fast fashion proves successful economically for the retail industry worldwide. The fast-fashion market in 2020 globally produced $25.1 billion. [36] It was expected to increase at an annual compound growth rate of 21.9%, resulting in the global market increase to $31 billion in 2021. [36]
This is a list of countries by industrial production growth rate mostly based on The World Factbook, [1] as of September 2024. A colour-coded map showing countries or territories by industrial production growth rate in 2017 in percentages, based on data from The World Factbook. Countries or territories without data or with data from earlier ...
This growth can be attributed to the increasing adoption of affordable clothing by the rising youth population. According to the United Nations, the global youth population is expected to grow from 1.2 billion in 2019 to 1.3 billion by 2030, which presents a significant market opportunity for apparel manufacturing companies. [23]
The European textile and clothing industry is a highly diversified, innovation and creativity driven industrial sector made up largely of SMEs: firms had an average of 10 employees in 2009, down from 18 employees at the beginning of the decade.