- Advertisement -
Tuesday, June 6, 2023
Home Uncategorized Fashion’s circular economy to worth $5 trillion

Fashion’s circular economy to worth $5 trillion

A new report outlines and values the potential of the circular fashion industry to inspire more investment and build scale in a growing area of sustainability.

The possible value of fashion’s circular economy could be as much as $5 trillion, according to Circular Fashion Report.

Fashion-circular-economy-worth-5-trillion

The circular fashion industry concept is a fast-growing movement to reuse and recycle all materials, eliminating waste and pollution and regenerating the environment in a “circular model”.

This rethink of the fundamentals of how the industry operates is gaining purchase among sustainable fashion brands.

The fashion industry is facing a substantial burden to reduce carbon emissions and waste, not least from a new generation of consumers who call more environmental accountability. This has given added impetus to the argument for circularity.

Sustainability experts told the industry has only just started to discover its potential for product reuse and recycle. A vast amount of product ends in landfill but is easily resalable.

Improved recycling technologies are potentially transformative. The Circular Fashion Report argues for a product-centric, rather than a consumer-centric approach, and digitizing it. The goal: to make fashion traceable, transparent and more sustainable for businesses, consumers — and the planet.

The market value is made up of the existing $3 trillion global fashion industry, including the $6 billion virtual fitting room market, $16 billion 3D-printing market and $40 billion eco-fiber market, as well as the secondhand sector, including resale and clothing alterations.

Related News

Functional Fashion Issue 04 week 10

 Download now  

Boohoo launches first pop-up shop in London to showcase new arrivals

Fashion retailer Boohoo has announced the opening of its very first pop-up store in Central London on Great Portland Street. The store opened on March...

Sweden and Indian researchers create new technology to purify tainted water

Researchers from Malaviya National Institute of Technology, Jaipur in India and Chalmers University of Technology in Sweden have created a new technique that quickly...

NC State separates mixed cotton from polyester by using enzymes in US

A team at North Carolina State University (NC State) has developed an enzyme-based method for separating mixed cotton and polyester fabric in the US....

H&M donates books and dressmaker mannequins to CIEOSH and BUFT

H&M Group, a multinational clothing giant, contributed books and dressmaker mannequins to the BGMEA Centre of Innovation, Efficiency and Occupational Safety and Health (CIEOSH)...

More like this

Functional Fashion Issue 04 week 10

0
 Download now  
Boohoo launches first pop-up shop in London to showcase new arrivals

Boohoo launches first pop-up shop in London to showcase new arrivals

0
Fashion retailer Boohoo has announced the opening of its very first pop-up store in Central London on Great Portland Street. The store opened on March...
Sweden and Indian researchers create new technology to purify tainted water

Sweden and Indian researchers create new technology to purify tainted water

0
Researchers from Malaviya National Institute of Technology, Jaipur in India and Chalmers University of Technology in Sweden have created a new technique that quickly...
Blended cotton polyester

NC State separates mixed cotton from polyester by using enzymes in US

0
A team at North Carolina State University (NC State) has developed an enzyme-based method for separating mixed cotton and polyester fabric in the US....
H&M donates books and dressmaker mannequins to CIEOSH and BUFT

H&M donates books and dressmaker mannequins to CIEOSH and BUFT

0
H&M Group, a multinational clothing giant, contributed books and dressmaker mannequins to the BGMEA Centre of Innovation, Efficiency and Occupational Safety and Health (CIEOSH)...
- Advertisement -