Technology will play a crucial role in the future of fashion events. Augmented reality (AR) and virtual reality (VR) experiences, 3D fashion shows, and interactive virtual showrooms are expected to become more prevalent, offering unique and immersive experiences to both consumers and industry professionals.
PORTLAND, Ore., Nov. 8, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Fashion Events Market by Type (Fashion Shows, Trade Shows/Exhibitions, Fashion Contests, and Others), Revenue Source (Ticket Sale, Sponsorship, and Others), and Organizer (Fashion Houses, Fashion Designers, Event Management Companies, and Others): Global Opportunity Analysis and Industry Forecast, 2023–2032″. According to the report, the global fashion events market size was valued at $33.6 billion in 2022, and is projected to reach $61.5 billion by 2032, growing at a CAGR of 5.3% from 2023 to 2032.
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Prime determinants of growth
Fashion education and talent development are fueling the growth of the global fashion events market. However, the market for fashion events is significantly constrained by high costs and budgets. On the other hand, event marketing and PR are creating lucrative opportunities for the growth of the global fashion events market.
Report coverage & details:
Report Coverage | Details |
Forecast Period | 2023–2032 |
Base Year | 2022 |
Market Size in 2022 | $33.6 billion |
Market Size in 2032 | $61.5 billion |
CAGR | 5.3 % |
No. of Pages in Report | 250 |
Segments Covered | Type, Revenue Source, Organizer, and Region. |
Drivers | · Rise of social media and digital platforms · Fashion education and talent development · Collaborations and partnerships |
Opportunities | · Event marketing and PR · Growing fashion brands and retailers |
Restraints | · Cost and budget constraints · Political and regulatory challenges |
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The fashion shows segment to maintain its leadership status throughout the forecast period
By type, the fashion shows segment held the highest market share in 2022, accounting for more than two-fifths of the global fashion events market revenue and is estimated to maintain its leadership status throughout the forecast period. Fashion presentations combining physical and digital components are gaining popularity. Brands are able to reach a larger worldwide audience by livestreaming their programs while still holding in-person presentations for a chosen audience. The trade shows/exhibitions segment, however, shows the fastest CAGR of 5.8% during the forecast period. Trade shows/exhibitions are increasingly embracing a hybrid format that combines physical and digital components. This enables a greater reach as participants can take part in-person or electronically.
The sponsorship segment to maintain its leadership status throughout the forecast period
By revenue source, the sponsorship segment held the highest market share in 2022, accounting for more than half of the global fashion events market revenue and is estimated to maintain its leadership status throughout the forecast period. This segment shows the fastest CAGR of 6.0% during the forecast period. In the market for fashion events, sponsorship is a crucial source of revenue since it gives companies an opportunity to exhibit their products to interested and targeted consumers. Sponsors connect with fashion-conscious consumers at fashion events, which provides companies with great branding and publicity opportunities.
The fashion houses segment to maintain its leadership status throughout the forecast period
By organizer, the fashion houses segment held the highest market share in 2022, accounting for more than two-fifths of the global fashion events market revenue and is estimated to maintain its leadership status throughout the forecast period. Fashion houses are utilizing virtual fashion shows, augmented reality (AR) experiences, and 360-degree tours to reach a global audience while minimizing the requirement for physical presence at events. The fashion designers segment, however, shows the fastest CAGR of 5.6% during the forecast period. Designers are hosting their own events to engage with customers directly and avoid using conventional fashion calendars. The exclusivity and swiftness are promoted by this tendency.
Europe to maintain its dominance by 2032
By region, Europe held the highest market share in terms of revenue in 2022 and is likely to dominate the market during the forecast period. The market for fashion events in Europe has been embracing digital platforms, with the prominence of online showrooms, live streaming, and virtual fashion shows rising. In addition, Asia-Pacific is expected to witness the fastest CAGR of 6.2% from 2023 to 2032. E-commerce is integrated into fashion events, enabling visitors to buy the products that are on display immediately, thereby boosting sales and expanding the market.
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Leading Market Players: –
- IMG, Eventbrite, Inc.
- Production Resource Group, L.L.C.
- Fashion Nova, LLC
- Reed Exhibitions Limited
- Farfetch Limited
- Fiera Milano S.p.A.
- Messe Frankfurt GmbH
- Zalando SE
- GL Events Group
The report provides a detailed analysis of these key players in the global fashion events market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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SOURCE Allied Market Research
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The post Fashion Events Market to Reach $61.5 billion, Globally, by 2032 at 5.3% CAGR: Allied Market Research first appeared on Beauty News.
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