Image

Global Online Clothing Rental Market – Industry Trends and Forecast to 2031

FMCG

Image

Global Online Clothing Rental Market – Industry Trends and Forecast to 2031

  • FMCG
  • Upcoming Report
  • Apr 2024
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Online Clothing Rental Market – Industry Trends and Forecast to 2031

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2021–2029
Diagram Market Size (Base Year) USD 1.86 Billion
Diagram Market Size (Forecast Year) USD 3.77 Billion
Diagram CAGR %

Major Markets Players

  • Rent the Runway
  • Omapal Technologies Private Limited
  • GlamCorner
  • UNION STATION KANSAS CITY
  • Etiquette Formal Hire Ltd.

Global Online Clothing Rental Market, By Product Type (Knitwear, Trousers and Jeans, Jumpsuits, Suits and Blazers, Coats and Jackets, Skirt and Shorts, and Ethnic Wear), Business Model (Standalone Model and Subscription Model), Consumer Orientation (Men, Women, and Kids), End-User (Business-to-Business (B2B), Business-to-Consumer (B2C), and Consumer-to-Consumer (C2C)) – Industry Trends and Forecast to 2031.

Online Clothing Rental Market

Online Clothing Rental Market Analysis and Size

The online clothing rental market flourishes due to convenience and sustainability, offering designer outfits without ownership constraints. This fosters a circular economy, reducing fashion waste while saving money and space for customers. Its benefits, including affordability, variety, and environmental responsibility, make it a favored choice for modern consumers, including men’s rental clothes.

The global online clothing rental market size was valued at USD 2.06 billion in 2023, is projected to reach USD 4.61 billion by 2031, with a CAGR of 10.60% during the forecast period 2024 to 2031. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behaviour.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2024 to 2031

Base Year

2023

Historic Years

2022 (Customizable to 2016 - 2021)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Product Type (Knitwear, Trousers and Jeans, Jumpsuits, Suits and Blazers, Coats and Jackets, Skirt and Shorts, and Ethnic Wear), Business Model (Standalone Model and Subscription Model), Consumer Orientation (Men, Women, and Kids), End-User (Business-to-Business (B2B), Business-to-Consumer (B2C), and Consumer-to-Consumer (C2C))

Countries Covered

U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, U.A.E., Saudi Arabia, Oman, Qatar, Kuwait, South Africa, and Rest of Middle East and Africa

Market Players Covered

Rent the Runway (U.S.), Omapal Technologies Private Limited (India), GlamCorner (Australia), UNION STATION KANSAS CITY (U.S.), Etiquette Formal Hire Ltd. (U.K.), Le Tote, Inc. (U.S.), Flyrobe (India), Chic by Choice (Portugal), La Reina (U.S.), STYLE LEND (U.S.), Gwynnie Bee Inc. (U.S.), AEO Management Co. (U.S.), Poshmark, Inc. (U.S.), Envoged (India), Secoo Holding (China), and Share Wardrobe (U.S.)

Market Opportunities

  • Peer Influence and Social Media
  • Occasional Wear Needs

Market Definition

Online clothing rental services allow customers to borrow garments for events, paying a fraction of the retail price. This model offers variety, convenience, and sustainability, providing trendy outfits without ownership commitment. By reducing fashion waste and fostering a circular economy, online clothing rental promotes eco-friendly practices, revolutionizing the apparel industry.

Online Clothing Rental Market Dynamics

Drivers 

  • Cost-Effective Fashion Access

Clothing rental offers budget-conscious consumers access to premium designer items at a fraction of their retail price. For instance, renting a designer dress for a special occasion might cost only a fraction of its retail price, allowing individuals to indulge in luxury fashion without breaking the bank. This cost-effective solution enables shoppers to maintain a stylish wardrobe without the financial commitment of purchasing expensive garments outright.

  • Trend-Consciousness among Consumer

Renting clothes satisfies the trend-conscious consumer's desire to stay stylish without the commitment of ownership. As fashion evolves quickly, renting provides a convenient option for trying new looks without the burden of long-term investment. This flexibility appeals to individuals who value staying current while avoiding the accumulation of unused garments.

Opportunities

  • Peer Influence and Social Media

Social media influencers and celebrities influence fashion trends, often showcasing rented clothing to their followers. For instance, when a popular fashion blogger shares photos of themselves wearing rented designer dresses for various events, it normalizes clothing rental and inspires their audience to explore similar options. This word-of-mouth marketing amplifies the reach of clothing rental services, driving more consumers to consider renting rather than buying.

  • Occasional Wear Needs

Renting clothes for special events such as weddings, parties, or job interviews provides a cost-effective solution, sparing consumers the expense and storage hassle of owning attire they might only wear infrequently. It offers access to high-quality garments without the commitment, aligning with changing consumer preferences for sustainability and experience-based consumption.

Restraints/Challenges

  • Logistics and Shipping Costs

High logistics and shipping expenses hinder the online clothing rental market, particularly for services operating across national or international borders. The costs incurred in transporting rented items back and forth pose a significant barrier, impacting profitability and scalability. This challenge adds financial strain, limiting the market's potential growth and adoption.

  • Fit and Sizing Issues

Fit and sizing issues plague the online clothing rental market, often resulting in dissatisfaction and returns. The absence of physical try-on options further deters potential customers, exacerbating the challenge. Ensuring accurate sizing remotely remains a significant hurdle, undermining the industry's viability and customer trust.

This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

  • In May 2023, ASOS, a British online fashion retailer, launches its inaugural rental collection, offering over 180 styles focused on women's occasion wear. The range includes attire for wedding guests, bridal wear, and bridesmaid dresses, catering to diverse body types with options in curve, petite, and tall sizes
  • In April 2022, Flyrobe partners with Franchise Mart for franchise expansion under RENT IT BAE, an online premium rental service. This collaboration aims to bring the latest fashion trends directly to customers' doorsteps, enhancing convenience and accessibility to upscale fashion
  • In December 2021, Flyrobe, a fashion rental business, surpasses 1.0 million customers amid its recovery from the pandemic. Currently operating in 30 Indian cities, the company's milestone underscores the resilience of the rental fashion industry and its enduring appeal to consumers seeking cost-effective style solutions

Online Clothing Rental Market Scope

The market is segmented on the basis of product type, business model, consumer orientation, and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

  • Knitwear
  • Trousers and Jeans
  • Jumpsuits
  • Suits and Blazers
  • Coats and Jackets
  • Skirt and Shorts
  • Ethnic Wear

 Business Model

  • Standalone Model
  • Subscription Model

 Consumer Orientation

  • Men
  • Women
  • Kids

 End-User

  • Business-to-Business (B2B)
  • Business-to-Consumer (B2C)
  • Consumer-to-Consumer (C2C)

Online Clothing Rental Market Regional Analysis/Insights

The market is analyzed, and market size insights and trends are provided by product type, business model, consumer orientation, and end-user as referenced above.

The countries covered in the market report are U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, U.A.E., Saudi Arabia, Oman, Qatar, Kuwait, South Africa, and Rest of Middle East and Africa.

Europe is expected to witness significant growth in the market. This surge is propelled by increasing demand for sustainable fashion and the presence of established rental platforms, driving consumer preference towards eco-friendly and cost-effective clothing options.

North America is expected to dominate the market, leveraging its advanced e-commerce infrastructure, widespread adoption of rental services among consumers, and a robust fashion-conscious culture, positioning the region as a key player.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Online Clothing Rental Market Share Analysis

The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.

Some of the major players operating in the market are:

  • Rent the Runway (U.S.)
  • Omapal Technologies Private Limited (India)
  • GlamCorner (Australia)
  • UNION STATION KANSAS CITY (U.S.)
  • Etiquette Formal Hire Ltd. (U.K.)
  • Gwynnie Bee Inc. (U.S.)
  • Le Tote, Inc. (U.S.)
  • FLYROBE (India)
  • Chic by Choice (Portugal)
  • La Reina (U.S.)
  • STYLE LEND (U.S.)
  • AEO Management Co. (U.S.)
  • Poshmark, Inc. (U.S.)
  • Envoged (India)
  • Secoo Holding (China)
  • Share Wardrobe (U.S.)


SKU-

Please fill in the below form for detailed Table of Content

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Please fill in the below form for detailed List of Table

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Please fill in the below form for detailed List of Figure

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Please fill in the below form for Infographics

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Please fill in the below form for Research Methodology

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

Please fill in the below form for Available Customization

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Get online access to the report on the World's First Market Intelligence Cloud

  • Interactive Data Analysis Dashboard
  • Company Analysis Dashboard for high growth potential opportunities
  • Research Analyst Access for customization & queries
  • Competitor Analysis with Interactive dashboard
  • Latest News, Updates & Trend analysis
  • Harness the Power of Benchmark Analysis for Comprehensive Competitor Tracking
Request for Demo

FREQUENTLY ASK QUESTIONS

Cost-Effective Fashion Access & Trend-Consciousness among Consumer are the growth drivers of the online clothing rental market.
Product type, business model, consumer orientation, and end-user are the factors on which the online clothing rental market research is based.
Major companies in the online clothing rental market are Rent the Runway (U.S.), Omapal Technologies Private Limited (India), GlamCorner (Australia), UNION STATION KANSAS CITY (U.S.), Etiquette Formal Hire Ltd. (U.K.), Le Tote, Inc. (U.S.), Flyrobe (India), Chic by Choice (Portugal), La Reina (U.S.), STYLE LEND (U.S.), Gwynnie Bee Inc. (U.S.), AEO Management Co. (U.S.), Poshmark, Inc. (U.S.), Envoged (India), Secoo Holding (China), and Share Wardrobe (U.S.).
The online clothing rental market size will be worth USD 4.61 billion by 2031.
The growth rate of the online clothing rental market is 10.60%.
Free Sample Report

CHOOSE LICENCE TYPE

  • 7000.00
  • 4800.00
  • 3000.00
  • 8000.00
  • 12000.00

Why Choose Us

Industry Coverage

DBMR works across the globe in multiple industries which equip us with knowledge across verticals and provide our clients with insights not only from their industry but how other industries will impact their ecosystem.

Regional Coverage

Coverage of Data Bridge is not restricted to developed or emerging economies. We work across the globe covering the largest array of countries where no other market research or business consulting firm has ever conducted research; creating growth opportunities for our clients in areas which are still unknown.

Technology Coverage

In today’s world, technology drives the market sentiment, so our vision is to provide our clients insights not only for developed technologies but upcoming and disrupting technological changes throughout the product lifecycle by enabling them with unforeseen opportunities in the market which will create disruption in their industry. This leads to innovation and our clients to come out as winners.

Goal Oriented Solutions

DBMR goal is to help our clients achieve their goals through our solutions; hence we formatively create the most appropriate solutions for our client needs, saving time and efforts for them to drive their grand strategies.

Unparallel Analyst Support

Our analysts take pride in our clients’ success. Unlike others, we believe in working along our clients to achieve their goals with 24 hours analyst support determining the correct needs and inspire innovation through service.

Banner

Client Testimonials