Online Clothing Rental Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Online Clothing Rental Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

  • July 2022 •
  • 142 pages •
  • Report ID: 5889820 •
  • Format: PDF
The global online clothing rental market reached a value of US$ 1.9 Billion in 2021. Looking forward, the analyst expects the market to reach US$ 3.3 Billion by 2027, exhibiting a CAGR of 9.75% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Online clothing rental can be described as a collection of services that enable consumers to rent garments for a predefined period. These portals offer designer apparel, footwear and accessories in a wide range of sizes, colours and brands. These services are commonly utilized by budget-conscious individuals who prefer to wear premium branded products at affordable prices for occasional events, such as weddings, theme parties, photoshoots and filmmaking.

The thriving online retail industry is one of the key factors driving the growth of the market across the globe. Furthermore, rising urban population with higher fashion consciousness is also contributing to the increasing service demand. There is an emerging trend of wearing designer apparel without actually owning them, especially among millennials, to keep up with the ever-changing fashion trends. Additionally, increasing awareness regarding sustainable clothing and positive environmental effects of sharing and reusing apparels is another factor favoring the market growth. Sustainability approaches, such as reusing pre-owned apparel, utilizing minimal plastic packaging, efficiently using recyclable, renewable and production resources such as, power, water and other materials are increasingly being preferred, which in turn, is contributing to the market growth. Moreover, with an increasing emphasis on sharing instead of owning, online clothing rental services enable the brand- and price-conscious consumers to try a wide variety of outfits without purchasing them. Other factors, including increasing adoption of subscription-based models, rising internet penetration rates and inflating disposable income levels, are projected to drive the market further.

Key Market Segmentation:
the analyst provides an analysis of the key trends in each sub-segment of the global online clothing rental market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on clothing styles, end user, price range, end use sector and business model.

Breakup by Clothing Styles:
Western Wear
Ethnic Wear
Others

Breakup by End User:
Women
Men
Kids

Breakup by Price Range:
Low
Mid
Premium

Breakup by End Use Sector:
Business to Consumer (B2C)
Business to Business (B2B)

Breakup by Business Model:
Peer-to-Peer Model
Standalone Model
Hybrid Model

Breakup by Region:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players. being Clothing Rental, Dress & Go, Rent it Bae, Glam Corner Pty Ltd, Gwynnie Bee, Le Tote, Rent The Runway Inc. and StyleLend, etc.



Key Questions Answered in This Report:

How has the global online clothing rental market performed so far and how will it perform in the coming years?
What are the key regional markets?
What has been the impact of COVID-19 on the global online clothing rental market?
What is the breakup of the market based on the clothing styles?
What is the breakup of the market based on the end user?
What is the breakup of the market based on the price range?
What is the breakup of the market based on the end use sector?
What is the breakup of the market based on the business model?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global online clothing rental market and who are the key players?
What is the degree of competition in the industry?