Global Online Clothing Rental Market Is Expected to Reach $2.6 Billion by 2032: Says AMR

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Jan 18, 2024, 10:01 ET

A significant increase in the growth of the sharing economy platforms and subscription-based e-commerce industry across the globe is expected to positively impact the growth of the global online clothing rental market in the foreseeable future.

PORTLAND, Ore., Jan. 18, 2024 /PRNewswire/ -- According to the report published by Allied Market Research, the global online clothing rental market was estimated at $1.1 billion in 2022 and is expected to hit $2.6 billion by 2032, registering a CAGR of 9.2% from 2023 to 2032. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.

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Report coverage & details:

Forecast Period	2023–2032
Base Year	2022
Market Size in 2021	$1,102.3 Million
Market Size in 2031	$2,639.7 Million
CAGR	9.2 %
No. of Pages in Report	400
Segments Covered	Clothing Style, End User, Business Model, and Region.
Drivers	Improvement in technology and increased market penetration
Drivers	Convenient and value for money
Restraints	Condition, value of clothes and fraudulent customers
Opportunities	Rapid growth in internet penetration in China and India & increased market share of clothes for women

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The global online clothing rental market is analyzed across Clothing Style, End User Business Model, and Region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise strategies based on the highest revenue-generating and fastest-growing segments stated in the report.

By clothing style, the ethnic segment held the highest share in 2022, garnering more than half of the global online clothing rental market revenue. The western segment, on the other hand, would showcase the fastest CAGR of 9.6% throughout the forecast period.

By end user, the women segment contributed to over half of the global online clothing rental market share in 2022, and is projected to rule the roost by 2032. The men segment would display the fastest CAGR of 9.5% throughout the forecast period.

By business model, the standalone segment accounted for the highest share in 2022, generating nearly three-fourths of the global online clothing rental market revenue. The subscription based segment, however, would portray the fastest CAGR of 10.0% during the forecast period.

By region, North America held the major share in 2022, garnering around two-fifths of the global online clothing rental market revenue. The Asia-Pacific region would showcase the fastest CAGR of 10.4% from 2023 to 2032. The other provinces studied through the report include Europe, and LAMEA.

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The key market players analyzed in the global online clothing rental market report include Glam Corner Pty Ltd., Le Tote, Inc., Gwynnie Bee, Dress & Go, Rent the Runway, Inc., Front Row, Nuuly, FLYROBE, By Rotation Limited, and MyWardrobeHQ Ltd. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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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