Global Digital Fashion Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Digital Fashion Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Digital fashion is the design of virtual 3D clothing with both human and digital avatars in mind. Instead of using fabrics and textiles, digital clothing is created using special 3D computer programs such as Blender and CLO3D. Digital fashion uses virtual avatars and digital models to create virtual clothing, accessories, and footwear that customers can browse, try, and buy online. Compared to traditional clothing manufacturing, digital fashion is inexpensive and extremely sustainable.

Market Overview:

The latest research study on the global Digital Fashion market finds that the global Digital Fashion market reached a value of USD 192.71 million in 2022. It’s expected that the market will achieve USD 16444.11 million by 2028, exhibiting a CAGR of 109.82% during the forecast period.

Accelerate the digital transformation of the fashion industry

Since the beginning of the pandemic in 2020, the fashion industry has suffered huge economic losses, with sales plummeting and job losses, but COVID-19 has accelerated the development of the digital fashion industry. Amidst the COVID-19 pandemic, fashion is among the industries that have been forced to adapt their commercial and creative strategies to better suit the social distancing measures. Therefore, the United States' rate of digital channels has increased. Catwalks and showrooms have become more accessible through live streaming and virtual fashion shows. Therefore, they make it easier for the public to get high fashion. Milan Fashion Week was renamed
Milan Digital Fashion Week

The British Fashion Council also seized the opportunity to display this year's designs online. In 2021, large-scale virtual fashion activities become more and more common. An example of this is International Digital Fashion Week. With this event, there is the largest virtual fashion show being held with over 100 designers in the fashion industry being represented.

Now, digital fashion has the opportunity to flourish in the industry where new technology and fashion merge. The importance of fashion movies is also emphasized as a medium for creatively displaying the upcoming series of designers. Therefore, the 3D experience gained momentum. Other popular formats include avatar video games, such as Zepeto, with which Louboutin cooperated to show their SS21 series. In this way, attendees can create personalized avatars and view the latest design of the brand. In addition, in their SS21 show, GCDS, an Italian street clothing brand, used cutting-edge technology and virtual images to rebuild a 3D runway, displaying digitally rendered clothes. COVID-19 accelerates the development of digital fashion.

Metauniverse and NFT (Non-Fundable Token) development

Digital fashion emerges, which directly subverts the expression of the fashion industry and people's consumption patterns. The direct cause of subversion is the introduction of Metauniverse and NFT (Non-Fundable Token), one of which establishes a new space for linking the virtual world and the real world, while the other provides a value realization system, which enables digital fashion products to have value-added space and collection value. As we all know, blockchain technology, interactive technology, electronic game technology, artificial intelligence technology, network and computing technology, and Internet of Things technology are the six supporting technologies of Metauniverse. NFT is an important technology to support the meta-cosmic economic system. It generates unique digital vouchers for specific products and realizes real and feasible digital distribution, purchase, collection, and use. Therefore, consumers become an important form of participating in the metaverse by purchasing NFT.

Sustainable development

Waste is an ongoing issue in the fashion industry. It contributes more to climate change than the annual emissions of air and sea travel combined. If trends continue, it could account for a quarter of the world’s carbon budget by 2050. The carbon footprint of producing a digital garment is 95% lower than that of a standard physical garment. With designers and fashion week organizations scrambling to maintain the flow of seasonal fashion shows, digital fashion takes on two distinct forms: digitally rendered clothing presented in a digital rendering environment and physical clothing displayed digitally through live broadcasts and movies. Both are almost immediately considered to represent the sustainable future of fashion. They provide clothes without production, pollution, and waste, and fashion shows without international flights. In addition, digital fashion is mostly free from societal body standards since each outfit can be tailored to fit whoever wants to buy it. Buyers don’t have to overthink how an outfit looks or if it’s too risky because it won’t even take up space in their closet. As people pay more and more attention to sustainable development, digital clothing will gain more market demand.

Region Overview:

In 2022, the share of the Digital Fashion market in Europe stood at 50.95%.

Company Overview:

The major players operating in the Digital Fashion market include Rtfkt, Dolce & Gabbana, The Fabricant, DressX, The Dematerialised, etc. Among which, Rtfkt ranked top in terms of sales and revenue in 2023.

Rtfkt

Founded in 2020, by Benoit Pagotto, Chris Le, and Steven Vasilev, RTFKT is a pioneering and innovative brand that redefines the boundaries of physical and digital value to serve its broad community of creators. This dedicated team leverages the latest in game engines, NFTs, blockchain authentication, and augmented reality to create one-of-a-kind virtual products and experiences.

Dolce & Gabbana

Dolce & Gabbana SRL creates, produces, and distributes high-end clothing, leather goods, footwear, accessories, jewelry, and watches. Dolce & Gabbana serves clients worldwide.

Segmentation Overview:

By type, Apparel/Clothing segment accounted for the largest share of market in 2022.

Application Overview:

By application, the Women segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Digital Fashion market covered in Chapter 3:

DressX
Rtfkt 
Digitalax
Auroboros
XR Couture
Tribute
The Dematerialised
Dolce & Gabbana
The Fabricant
Zero10

In Chapter 4 and Chapter 14.2, on the basis of types, the Digital Fashion market from 2018 to 2029 is primarily split into:

Apparel/Clothing
Accessories
Footwear

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Digital Fashion market from 2018 to 2029 covers:

Men
Women
Children

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)