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Global Online Clothing Rental Market - Industry Trends and Forecast to 2030

  • FMCG
  • Upcoming Report
  • Jun 2023
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Online Clothing Rental Market, By 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)) - Industry Trends and Forecast to 2030.

Online Clothing Rental Market

Online Clothing Rental Market Analysis and Size  

The online clothing rental market has emerged as a popular alternative to traditional retail, allowing consumers to rent clothing items for a limited period instead of purchasing them outright. It offers individuals the opportunity to access a wide variety of fashionable attire without the need for large investments or long-term commitments. It caters to those seeking novelty and variety in their wardrobe without the burden of storing or disposing of items.

Data Bridge Market Research analyses that the online clothing rental market which was USD 1.86 billion in 2022, would rocket up to USD 3.77 billion by 2030, and is expected to undergo a CAGR of 10.60% during the forecast period of 2023 to 2030.

“Knitwear” dominates the product type segment of the online clothing rental market owing to its versatility and ability to provide both comfort and style. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, pipeline analysis, pricing analysis, and regulatory framework.

Online Clothing Rental Market Scope and Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015-2020)

Quantitative Units

Revenue in USD Million, Pricing in USD

Segments Covered

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))

Countries Covered

North America (U.S., Canada, and Mexico), South America (Brazil, Argentina, and Rest of South America), Europe (Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, and Rest of Europe), Asia-Pacific (Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, and Rest of Asia-Pacific), Middle East and Africa (U.A.E, Saudi Arabia, Egypt, South Africa, Israel, and Rest of the 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.), Gwynnie Bee Inc. (U.S.), Le Tote, Inc. (U.S.), Flyrobe (India), Chic by Choice (Portugal), La Reina (U.S.), STYLE LEND (U.S.), Gwynnie Bee Inc. (U.S.), American Eagle Outfitters (U.S.), Poshmark (U.S.), Envoged (India), Secoo Holding (China), and Share Wardrobe (U.S.)

Market Opportunities

  • Growing awareness and adoption of rental platforms among millennials
  • Collaboration opportunities with fashion brands and designers

Market Definition

The global online clothing rental market refers to the industry that facilitates the rental of clothing items through digital platforms and e-commerce channels. It consists of online rental services that allow customers to borrow and use clothing for a specific period rather than purchasing them outright. This market operates on the principle of access over ownership, providing individuals with a convenient and cost-effective way to access a wide range of fashionable attire. Customers can browse through online catalogs, select desired items, and have them delivered to their doorstep. After the rental period, the clothing is returned to the rental service.

Global Online Clothing Rental Market Dynamics

Drivers:

  1. Variety of fashion availability: Online rental platforms provide access to a wide range of clothing options, allowing individuals to experiment with different styles and trends that act as a growth factor for the market
  2. Ease of convenience: The convenience of browsing and renting clothing online, along with doorstep delivery and easy returns, appeals to busy consumers seeking hassle-free shopping experiences that drive market growth.

Restraints:                                      

  1. Damage and Maintenance: There is a risk of damage or wear and tear during the rental period, which can result in additional charges or disputes between the rental service and the customer that act as a restraining factor for the market growth.

Opportunities:

  1. Collaborations with Fashion Brands: Partnering with fashion brands and designers to offer exclusive collections and collaborations on rental platforms can attract a wider customer base and enhance the brand reputation, which creates opportunities for the growth of the market.

 Challenges:

  1. Changing Fashion Trends: Staying updated with rapidly changing fashion trends and customer preferences poses a challenge for rental platforms to ensure a relevant and appealing inventory which acts as a challenge for the growth of the market.

This online clothing rental market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the 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 Online Clothing Rental market contact Data Bridge Market Research for an Analyst Brief. Our team will help you make an informed market decision to achieve market growth.

Recent Development

  • In May 2023, ASOS, a British online fashion retailer, has introduced its first-ever rental collection, featuring over 180 styles focused on women's occasion wear dressing. The rental edit includes outfits for wedding guests, bridal looks, and bridesmaid dresses, with options available in curve, petite, and tall sizes.

Global Online Clothing Rental Market Scope

The online clothing rental 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)

Global Online Clothing Rental Market Regional Analysis/Insights

The online clothing rental market is analysed, and market size insights and trends are provided by product type, business model, consumer orientation, and end-user and are referenced above.

The countries covered in the online clothing rental market report are U.S., Canada, and Mexico in North America, Brazil, Argentina, and Rest of South America in South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, and Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, and Rest of Asia-Pacific in Asia-Pacific, and U.A.E, Saudi Arabia, Egypt, South Africa, Israel, and Rest of the Middle East and Africa in Middle East and Africa.

North America is expected to dominate the market due to its advanced e-commerce infrastructure, high consumer adoption of rental services, and strong fashion-conscious culture.

Europe is expected to witness significant growth during the forecast period of 2023 to 2030 due to the increasing demand for sustainable fashion and the presence of established rental platforms.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts 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, the 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 online clothing rental market competitive landscape provides details by competitors. 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 the online clothing rental market.

Some of the major players operating 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.)
  • Gwynnie Bee Inc. (U.S.)
  • Le Tote, Inc. (U.S.)
  • Flyrobe (India)
  • Chic by Choice (Portugal)
  • La Reina (U.S.)
  • STYLE LEND (U.S.)
  • Gwynnie Bee Inc. (U.S.)
  • American Eagle Outfitters (U.S.)
  • Poshmark (U.S.)
  • Envoged (India)
  • Secoo Holding (China)
  • Share Wardrobe (U.S.)


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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.

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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.

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FREQUENTLY ASK QUESTIONS

The Online Clothing Rental Market will be worth USD 3.77 billion by 2030.
The Online Clothing Rental Market is expected to grow at a CAGR of 10.60 % during the forecast period.
The Variety of fashion availability and Ease of convenience are the Growth Drivers of the Online Clothing Rental Market.
The product type, business model, consumer orientation, and end-user are the factors on which the Liquid Waste Management Market research is based.
The British online fashion retailer has introduced its first-ever rental collection, featuring over 180 styles focused on women's occasion wear dressing The rental edit includes outfits for wedding guests, bridal looks, and bridesmaid dresses, with options available in curve, petite, and tall sizes are the latest developments in the Online Clothing Rental Market
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