Online Clothing Rental Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, South Korea, UK, Germany, France - Size and Forecast 2023-2027
| Published: Oct 2023 | Pages: 159 | SKU: IRTNTR70523 |
Online Clothing Rental Market Forecast 2023-2027
The online clothing rental market size is forecast to increase by USD 1,564.94 million between 2023 and 2027.
Online Clothing Rental Market Size
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Market Analysis
The market size for the Market is projected to experience a CAGR of 9.86% between 2023 to 2027 with a Year over Year (YoY) growth of 9.72%.
The rising participation of people in social occasions is a key factor driving the market growth. Each region's festivals and traditions have historical or political significance, often tied to religious beliefs and cultural diversity. Clothing plays a vital role in these celebrations, and demand for occasion wear surges during such events. However, the high cost prompts consumers to seek cost-effective solutions, leading to acceptance. Globalized culture is leading to the adoption of Western occasions worldwide, requiring specific dress codes, often in the form of occasional wear. The market benefits from this trend, offering a variety of styles for different occasions at various price points. Subscription services, personalized recommendations, and rising participation in social events are driving the global market's growth.
Online Clothing Rental Market Trends
Women Segment Dominates the Market
The women segment was valued at USD 1,742.81 million in 2017 and continued to grow until 2021. The growing demand for renting occasion wear by women is estimated to drive the market for women during the forecast period. Women are increasingly becoming conscious about their clothing purchases. Women select attires based on different occasions, such as a date, formal meeting, party, vacation, wedding, outdoor activity, and daily work. As occasion wear items are priced high, women increasingly prefer renting clothing to purchasing them. In addition, the dumping of unwanted clothing into landfills has a serious environmental impact.
Market - Revenue Share by Women Segment, 2017-2027
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North America Holds a Prominent Position in the Market
North America is estimated to contribute 46% to the growth of the global market during the forecast period. In North America, the United States stands as the dominant contributor to the market, driven by consumer preferences for variety, sustainability, and affordability. This shift towards non-ownership has created opportunities for clothing resale and rental services. Notably, a substantial number of fashion rental startups were initiated in the US in 2022, offering diverse clothing types, including casual, designer, occasional, athletic, maternity, men's suits and blazers, and kids' wear.
For instance, Rent It BAE is an online platform offering premium fashion rentals, spanning dresses, bags, ethnic wear, sunglasses, and more, with options for one-time rentals or monthly subscriptions. Canada has also seen a rise in clothing rental startups, with consumers embracing minimalism and sustainable fashion, seeking outfits and accessories through online rental platforms. In Mexico, the market is still emerging, with consumers often turning to US-based vendors for occasion wear. As a result, North American rental vendors are increasingly offering a wide range of outfits and personalized services, contributing to market growth in the forecasted period.
Market Size, By Region, Global, 2017-2027
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Online Clothing Rental Market Companies Overview
The Online Clothing Rental Market is fragmented in nature. Some significant players include AARK World Pvt. Ltd., Armoire Style Inc., Dress and Go SA, Front Row, Girl Meets Dress, Glam Corner Pty Ltd., Glamourental.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Gwynnie Bee., La Reina Gown, My Secret Wardrobe, Rent An Attire, Rent the Runway Inc., Rentez Vous, Rotaro, Style Lend Inc., Stylease Pvt. Ltd., TheDressBank, Urban Outfitters Inc., Wrapd, and Your secret closet
Market Analyst Overview
The Market experiences a surge in demand, catalyzed by factors such as lockdown measures, emphasizing essential services and the supply chain, particularly among garments manufacturers. Innovations in e-commerce platforms and subscription models have reshaped consumer spending habits, especially in the Asia Pacific region. Challenges persist due to improper regulations and low consumer awareness, yet societal acceptance of renting clothes is on the rise, especially among young people.
Luxury designer dresses and premium jackets are popular choices, alongside sports apparel for sporting events. Children's segments witness growth, driven by parents seeking cost-effective solutions. Despite unorganized manufacturers, online retail platforms offer convenience and accessibility, bolstered by technological advancements and internet penetration, facilitating a seamless shopping experience for formal and casual wear alike.
Segment Overview
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 - 2021.
- End-User Outlook (USD Million, 2017 - 2027)
- Women
- Men
- Children
- Type Outlook (USD Million, 2017 - 2027)
- Formal
- Casual
- Traditional
- Region Outlook (USD Million, 2017 - 2027)
- North America
- The U.S.
- Canada
- Europe
- The U.K.
- Germany
- France
- Rest of Europe
- APAC
- China
- India
- South America
- Chile
- Argentina
- Brazil
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- North America
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Online Clothing Rental Market Scope |
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Report Coverage |
Details |
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Page number |
159 |
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Base year |
2022 |
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Historic period |
2017 - 2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.86% |
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Market growth 2023-2027 |
USD 1,564.94 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
9.72 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 46% |
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Key countries |
US, South Korea, UK, Germany, and France |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AARK World Pvt. Ltd., Armoire Style Inc., Dress and Go SA, Front Row, Girl Meets Dress, Glam Corner Pty Ltd., Glamourental, Gwynnie Bee, La Reina Gown, My Secret Wardrobe, Rent An Attire, Rent the Runway Inc., Rentez Vous, Rotaro, Style Lend Inc., Stylease Pvt. Ltd., TheDressBank, Urban Outfitters Inc., Wrapd, and Your secret closet |
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Market dynamics |
Parent market analysis, Market forecasting, market growth and trends, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Market Research Report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
- Precise estimation of the size of the market size and its contribution to the parent market
- Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
- Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
- Thorough market growth analysis of the market’s competitive landscape and detailed information about vendors
- Comprehensive market analysis and report on the factors that will challenge the market research and growth of market vendors
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.3 Market size 2022
- 3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
- Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
- 4.1 Global online clothing rental market 2017 - 2021
- Exhibit 18: Historic Market Size – Data Table on global online clothing rental market 2017 - 2021 ($ million)
- 4.2 End-user Segment Analysis 2017 - 2021
- Exhibit 19: Historic Market Size – End-user Segment 2017 - 2021 ($ million)
- 4.3 Type Segment Analysis 2017 - 2021
- Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ million)
- 4.4 Geography Segment Analysis 2017 - 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
- 4.5 Country Segment Analysis 2017 - 2021
- Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
- 5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
- 5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
- 5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
- 5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
- 5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
- 5.7 Market condition
- Exhibit 29: Chart on Market condition - Five forces 2022 and 2027
6 Market Segmentation by End-user
- 6.1 Market segments
- Exhibit 30: Chart on End-user - Market share 2022-2027 (%)
- Exhibit 31: Data Table on End-user - Market share 2022-2027 (%)
- 6.2 Comparison by End-user
- Exhibit 32: Chart on Comparison by End-user
- Exhibit 33: Data Table on Comparison by End-user
- 6.3 Women - Market size and forecast 2022-2027
- Exhibit 34: Chart on Women - Market size and forecast 2022-2027 ($ million)
- Exhibit 35: Data Table on Women - Market size and forecast 2022-2027 ($ million)
- Exhibit 36: Chart on Women - Year-over-year growth 2022-2027 (%)
- Exhibit 37: Data Table on Women - Year-over-year growth 2022-2027 (%)
- 6.4 Men - Market size and forecast 2022-2027
- Exhibit 38: Chart on Men - Market size and forecast 2022-2027 ($ million)
- Exhibit 39: Data Table on Men - Market size and forecast 2022-2027 ($ million)
- Exhibit 40: Chart on Men - Year-over-year growth 2022-2027 (%)
- Exhibit 41: Data Table on Men - Year-over-year growth 2022-2027 (%)
- 6.5 Children - Market size and forecast 2022-2027
- Exhibit 42: Chart on Children - Market size and forecast 2022-2027 ($ million)
- Exhibit 43: Data Table on Children - Market size and forecast 2022-2027 ($ million)
- Exhibit 44: Chart on Children - Year-over-year growth 2022-2027 (%)
- Exhibit 45: Data Table on Children - Year-over-year growth 2022-2027 (%)
- 6.6 Market opportunity by End-user
- Exhibit 46: Market opportunity by End-user ($ million)
- Exhibit 47: Data Table on Market opportunity by End-user ($ million)
7 Market Segmentation by Type
- 7.1 Market segments
- Exhibit 48: Chart on Type - Market share 2022-2027 (%)
- Exhibit 49: Data Table on Type - Market share 2022-2027 (%)
- 7.2 Comparison by Type
- Exhibit 50: Chart on Comparison by Type
- Exhibit 51: Data Table on Comparison by Type
- 7.3 Formal - Market size and forecast 2022-2027
- Exhibit 52: Chart on Formal - Market size and forecast 2022-2027 ($ million)
- Exhibit 53: Data Table on Formal - Market size and forecast 2022-2027 ($ million)
- Exhibit 54: Chart on Formal - Year-over-year growth 2022-2027 (%)
- Exhibit 55: Data Table on Formal - Year-over-year growth 2022-2027 (%)
- 7.4 Casual - Market size and forecast 2022-2027
- Exhibit 56: Chart on Casual - Market size and forecast 2022-2027 ($ million)
- Exhibit 57: Data Table on Casual - Market size and forecast 2022-2027 ($ million)
- Exhibit 58: Chart on Casual - Year-over-year growth 2022-2027 (%)
- Exhibit 59: Data Table on Casual - Year-over-year growth 2022-2027 (%)
- 7.5 Traditional - Market size and forecast 2022-2027
- Exhibit 60: Chart on Traditional - Market size and forecast 2022-2027 ($ million)
- Exhibit 61: Data Table on Traditional - Market size and forecast 2022-2027 ($ million)
- Exhibit 62: Chart on Traditional - Year-over-year growth 2022-2027 (%)
- Exhibit 63: Data Table on Traditional - Year-over-year growth 2022-2027 (%)
- 7.6 Market opportunity by Type
- Exhibit 64: Market opportunity by Type ($ million)
- Exhibit 65: Data Table on Market opportunity by Type ($ million)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 66: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 67: Chart on Market share by geography 2022-2027 (%)
- Exhibit 68: Data Table on Market share by geography 2022-2027 (%)
- 9.2 Geographic comparison
- Exhibit 69: Chart on Geographic comparison
- Exhibit 70: Data Table on Geographic comparison
- 9.3 North America - Market size and forecast 2022-2027
- Exhibit 71: Chart on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 72: Data Table on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 73: Chart on North America - Year-over-year growth 2022-2027 (%)
- Exhibit 74: Data Table on North America - Year-over-year growth 2022-2027 (%)
- 9.4 Europe - Market size and forecast 2022-2027
- Exhibit 75: Chart on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 76: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 77: Chart on Europe - Year-over-year growth 2022-2027 (%)
- Exhibit 78: Data Table on Europe - Year-over-year growth 2022-2027 (%)
- 9.5 APAC - Market size and forecast 2022-2027
- Exhibit 79: Chart on APAC - Market size and forecast 2022-2027 ($ million)
- Exhibit 80: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
- Exhibit 81: Chart on APAC - Year-over-year growth 2022-2027 (%)
- Exhibit 82: Data Table on APAC - Year-over-year growth 2022-2027 (%)
- 9.6 South America - Market size and forecast 2022-2027
- Exhibit 83: Chart on South America - Market size and forecast 2022-2027 ($ million)
- Exhibit 84: Data Table on South America - Market size and forecast 2022-2027 ($ million)
- Exhibit 85: Chart on South America - Year-over-year growth 2022-2027 (%)
- Exhibit 86: Data Table on South America - Year-over-year growth 2022-2027 (%)
- 9.7 Middle East and Africa - Market size and forecast 2022-2027
- Exhibit 87: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
- Exhibit 88: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
- Exhibit 89: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- Exhibit 90: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- 9.8 US - Market size and forecast 2022-2027
- Exhibit 91: Chart on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 92: Data Table on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 93: Chart on US - Year-over-year growth 2022-2027 (%)
- Exhibit 94: Data Table on US - Year-over-year growth 2022-2027 (%)
- 9.9 UK - Market size and forecast 2022-2027
- Exhibit 95: Chart on UK - Market size and forecast 2022-2027 ($ million)
- Exhibit 96: Data Table on UK - Market size and forecast 2022-2027 ($ million)
- Exhibit 97: Chart on UK - Year-over-year growth 2022-2027 (%)
- Exhibit 98: Data Table on UK - Year-over-year growth 2022-2027 (%)
- 9.10 Germany - Market size and forecast 2022-2027
- Exhibit 99: Chart on Germany - Market size and forecast 2022-2027 ($ million)
- Exhibit 100: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
- Exhibit 101: Chart on Germany - Year-over-year growth 2022-2027 (%)
- Exhibit 102: Data Table on Germany - Year-over-year growth 2022-2027 (%)
- 9.11 France - Market size and forecast 2022-2027
- Exhibit 103: Chart on France - Market size and forecast 2022-2027 ($ million)
- Exhibit 104: Data Table on France - Market size and forecast 2022-2027 ($ million)
- Exhibit 105: Chart on France - Year-over-year growth 2022-2027 (%)
- Exhibit 106: Data Table on France - Year-over-year growth 2022-2027 (%)
- 9.12 South Korea - Market size and forecast 2022-2027
- Exhibit 107: Chart on South Korea - Market size and forecast 2022-2027 ($ million)
- Exhibit 108: Data Table on South Korea - Market size and forecast 2022-2027 ($ million)
- Exhibit 109: Chart on South Korea - Year-over-year growth 2022-2027 (%)
- Exhibit 110: Data Table on South Korea - Year-over-year growth 2022-2027 (%)
- 9.13 Market opportunity by geography
- Exhibit 111: Market opportunity by geography ($ million)
- Exhibit 112: Data Tables on Market opportunity by geography ($ million)
10 Drivers, Challenges, and Trends
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Exhibit 113: Impact of drivers and challenges in 2022 and 2027
- 10.4 Market trends
11 Vendor Landscape
- 11.1 Overview
- 11.2 Vendor landscape
- Exhibit 114: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 115: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 116: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 117: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 118: Matrix on vendor position and classification
- 12.3 AARK World Pvt. Ltd.
- Exhibit 119: AARK World Pvt. Ltd. - Overview
- Exhibit 120: AARK World Pvt. Ltd. - Product / Service
- Exhibit 121: AARK World Pvt. Ltd. - Key offerings
- 12.4 Armoire Style Inc.
- Exhibit 122: Armoire Style Inc. - Overview
- Exhibit 123: Armoire Style Inc. - Product / Service
- Exhibit 124: Armoire Style Inc. - Key offerings
- 12.5 Glam Corner Pty Ltd.
- Exhibit 125: Glam Corner Pty Ltd. - Overview
- Exhibit 126: Glam Corner Pty Ltd. - Product / Service
- Exhibit 127: Glam Corner Pty Ltd. - Key offerings
- 12.6 Glamourental
- Exhibit 128: Glamourental - Overview
- Exhibit 129: Glamourental - Product / Service
- Exhibit 130: Glamourental - Key offerings
- 12.7 Gwynnie Bee
- Exhibit 131: Gwynnie Bee - Overview
- Exhibit 132: Gwynnie Bee - Product / Service
- Exhibit 133: Gwynnie Bee - Key offerings
- 12.8 La Reina Gown
- Exhibit 134: La Reina Gown - Overview
- Exhibit 135: La Reina Gown - Product / Service
- Exhibit 136: La Reina Gown - Key offerings
- 12.9 My Secret Wardrobe
- Exhibit 137: My Secret Wardrobe - Overview
- Exhibit 138: My Secret Wardrobe - Product / Service
- Exhibit 139: My Secret Wardrobe - Key offerings
- 12.10 Rent An Attire
- Exhibit 140: Rent An Attire - Overview
- Exhibit 141: Rent An Attire - Product / Service
- Exhibit 142: Rent An Attire - Key offerings
- 12.11 Rent the Runway Inc.
- Exhibit 143: Rent the Runway Inc. - Overview
- Exhibit 144: Rent the Runway Inc. - Product / Service
- Exhibit 145: Rent the Runway Inc. - Key offerings
- 12.12 Rotaro
- Exhibit 146: Rotaro - Overview
- Exhibit 147: Rotaro - Product / Service
- Exhibit 148: Rotaro - Key offerings
- 12.13 Style Lend Inc.
- Exhibit 149: Style Lend Inc. - Overview
- Exhibit 150: Style Lend Inc. - Product / Service
- Exhibit 151: Style Lend Inc. - Key offerings
- 12.14 Stylease Pvt. Ltd.
- Exhibit 152: Stylease Pvt. Ltd. - Overview
- Exhibit 153: Stylease Pvt. Ltd. - Product / Service
- Exhibit 154: Stylease Pvt. Ltd. - Key offerings
- 12.15 Urban Outfitters Inc.
- Exhibit 155: Urban Outfitters Inc. - Overview
- Exhibit 156: Urban Outfitters Inc. - Business segments
- Exhibit 157: Urban Outfitters Inc. - Key offerings
- Exhibit 158: Urban Outfitters Inc. - Segment focus
- 12.16 Wrapd
- Exhibit 159: Wrapd - Overview
- Exhibit 160: Wrapd - Product / Service
- Exhibit 161: Wrapd - Key offerings
- 12.17 Your secret closet
- Exhibit 162: Your secret closet - Overview
- Exhibit 163: Your secret closet - Product / Service
- Exhibit 164: Your secret closet - Key offerings
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Exhibit 165: Inclusions checklist
- Exhibit 166: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 167: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 168: Research methodology
- Exhibit 169: Validation techniques employed for market sizing
- Exhibit 170: Information sources
- 13.5 List of abbreviations
- Exhibit 171: List of abbreviations
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
PURCHASE FULL REPORT OF
online clothing rental market market
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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