The need to protect the environment has shifted the status of different businesses towards sustainability. The fashion industry is one such segment that is seeing the intense adoption of ethical fashion practices to produce sustainable fashion products for the target audience.
Fashion brands are now focusing on eco-friendly practices to produce and design sustainable fashion products. According to ResearchAndMarkets.com, the global ethical fashion market stood at a value of around $6,345.3 million in 2019.
It is expected to see a growth at a CAGR of 6.8% from 2019 to 2023 to reach $8,246.1 million. The prime reason for this expected growth is the rising awareness about the importance of ethical fashion for sustainability.
Moreover, the available data also highlights that this market is expected to grow at a CAGR of 9.1% during 2023-25 to reach the value of $9,808.5 million. Further, it will reach $15,173.7 billion in 2030. Several factors such as the growth of e-commerce, raising awareness of sustainable fashion, and government initiatives are crucial for a strong drive in this market.
Fashion designer Illya Shpetrik is making a lot of news about her eco-friendly fashion practices. She is focusing on ethical fashion practices through her Illya Shpetrik Fashion label to contribute to the welfare of the environment in every possible way.
Illya Shpetrik Fashion only engages with brands and companies that truly adhere to sustainable environmental standards. The fashion designer focuses on the production and designing of clothes without causing any damage to the environment.
She only relies on natural raw material to execute ethical fashion practices. People like her are playing a crucial role in the growth of the global ethical fashion market on a large scale.