PUBLISHER: Grand View Research | PRODUCT CODE: 1170946
PUBLISHER: Grand View Research | PRODUCT CODE: 1170946
Online Clothing Rental Market Size, Share & Trends Analysis Report By End-user (Men, Women), By Dress Code (Formal, Casual, Traditional), By Region, And Segment Forecasts, 2022 - 2030
Online Clothing Rental Market Growth & Trends:
The global online clothing rental market size is expected to reach USD 2.33 billion in 2030, registering a CAGR of 8.5% from 2022 to 2030, according to a new report by Grand View Research, Inc. Soaring demand for luxury designer dresses, as well as continuous shifts in consumer fashion sense, are the factors expected to fuel the rise of the online garment rental sector. In addition, consumers' increased spending on fashionable pursuits as their disposable income rises, coupled with the rapid growth in the number of fashion brands, is a major element driving the market.
Increasing online retail is the primary driving factor for this growth. Moreover, technological advancements, internet penetration, and the increasing popularity of online shopping portals during the last few years are the factors driving the market. Furthermore, the rise in the popularity of fashion vlogs, the film industry, and the television industry is expected to fuel market growth. These industries require clothes for a short duration and thus, they prefer renting them instead of buying them. Hence, this growth is expected to impact demand for online clothing rental in the forthcoming years.
Another element supporting the market's expansion is growing awareness of environmentally friendly clothes and the benefits of sharing and recycling clothing. Reusing worn clothing, using less plastic packaging, and efficiently making use of recyclable, renewable, manufacturing resources like power, water, and other materials are just a few examples of the sustainability practices that are becoming more and more popular, which is helping the industry to expand.
Online clothing rental services also allow brand- and price-conscious consumers to try on a range of clothes without buying them, as there is a growing emphasis on sharing rather than owning. It is anticipated that further variables, such as expanding internet penetration rates, rising subscription-based model acceptance, and growing disposable income levels, will fuel the market.
COVID-19 has negatively impacted the online clothing rental market. As a result of the lockdown, all businesses, except essential services, were closed which disrupted the supply and distribution of online clothing thereby affecting the clothing manufacturers. For instance, in the U.S. in response to the pandemic, Rent the Runway, the face of the fashion rental model, announced layoffs, temporary pay reductions, and staff furloughs.
Another significant issue during the pandemic is hygiene. Clear health and safety guidelines are essential, particularly when it comes to peer-to-peer networks like Hurr, where lenders send garments directly to renters. However, the market is expected to eventually return to the pre-pandemic situation as people resume their normal life and start attending weddings, banquets, and other events after a long gap. This trend is anticipated to impact positively during the forecast period.
The women segment led the market share in 2021 and is expected to witness progressive growth in demand during the forecasted period. The women segment accounted for the leading market share of more than 59.13% in 2021 and is expected to witness significant growth in the near future. Constantly changing fashion trends are anticipated to propel segment growth.
Traditional renting is expected to register a CAGR of more than 8.7% during the forecast period. Traditional clothes are worn during festivals along with rare and special occasions thus, are used very less. Hence, consumers prefer renting them instead of purchasing them. Formal clothes are anticipated to hold the largest market share of around 46.17% in 2021. Formal clothes such as suits and blazers are expensive and require maintenance, thus price-conscious and young consumers find renting as a better option.
In 2021, North America led with a market share of around 39.13% and is anticipated to witness a significant CAGR in the near future. In North America, Mexico contributes to the majority of the share and is expected to register a CAGR of more than 8.1% during the forecast period. Europe is the second-largest segment with a market share of around 26.91% in 2021. Western Europe is the dominant segment, due to the high purchasing power and fashion-conscious consumers in the countries, such as France, Italy, and the U.K.
The market poses a moderate to low entry barrier as this industry is new. Hence, to expand the business further, many new companies are joining the market. The overall market is driven by product innovation and introduction of the advanced features to enhance the consumer experience.
Online Clothing Rental Market Report Highlights:
- The women's segment is expected to grow at the fastest CAGR during the forecast period, from 2022 to 2030. The segment growth can be attributed to the constantly changing fashion trends which are anticipated to propel segment growth
- The traditional segment is expected to grow at the fastest CAGR during the forecast period., Traditional clothes are worn during festivals along with rare and special occasions thus, it is anticipated to propel the segment growth
- North America led with a market share of around 39.13% and is anticipated to witness a significant CAGR, during the near future. In North America, Mexico contributes to the majority of the share and is expected to register a CAGR of more than 8.1% during the forecast period.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Sources & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. Data Validation & Publishing
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segmental Outlook
- 2.3. Competitive Insights
Chapter 3. Online Clothing Rental Market Variables, Trends & Scope
- 3.1. Market Introduction
- 3.2. Penetration & Growth Prospect Mapping
- 3.3. Industry Value Chain Analysis
- 3.3.1. Sales/Retail Channel Analysis
- 3.3.2. Profit Margin Analysis
- 3.4. Market Dynamics
- 3.4.1. Market Driver Analysis
- 3.4.2. Market Restraint Analysis
- 3.4.3. Industry Challenges
- 3.4.4. Industry Opportunities
- 3.5. Business Environment Analysis
- 3.5.1. Industry Analysis - Porter's Five Forces
- 3.5.1.1. Supplier Power
- 3.5.1.2. Buyer Power
- 3.5.1.3. Substitution Threat
- 3.5.1.4. Threat from New Entrant
- 3.5.1.5. Competitive Rivalry
- 3.5.1. Industry Analysis - Porter's Five Forces
- 3.6. Roadmap of Online Clothing Rental Market
- 3.7. Market Entry Strategies
- 3.8. Impact of COVID-19 on the Online Clothing Rental Market.
Chapter 4. Consumer Behavior Analysis
- 4.1. Consumer Trends and Preferences
- 4.2. Factors Affecting Buying Decision
- 4.3. Consumer Product Adoption
- 4.4. Observations & Recommendations
Chapter 5. Online Clothing Rental Market: End-User Estimates & Trend Analysis
- 5.1. Product Movement Analysis & Market Share, 2017 & 2030
- 5.2. Men
- 5.2.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
- 5.3. Women
- 5.3.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
- 5.4. Others
- 5.4.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
Chapter 6. Online Clothing Rental Market: Dress-Code Estimates & Trend Analysis
- 6.1. Application Movement Analysis & Market Share, 2017 & 2030
- 6.2. Formal
- 6.2.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
- 6.3. Casual
- 6.3.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
- 6.4. Traditional
- 6.4.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
Chapter 7. Online Clothing Rental Market: Regional Estimates & Trend Analysis
- 7.1. Regional Movement Analysis & Market Share, 2017 & 2030
- 7.2. North America
- 7.2.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
- 7.2.2. Market estimates and forecast, by end-user, 2017 - 2030 (USD Billion)
- 7.2.3. Market estimates and forecast, by dress code, 2017 - 2030
- 7.2.4. The U.S.
- 7.2.4.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
- 7.2.4.2. Market estimates and forecast, by end-user, 2017 - 2030 (USD Billion)
- 7.2.4.3. Market estimates and forecast, by dress code, 2017 - 2030 (USD Billion)
- 7.2.5. Mexico
- 7.2.5.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
- 7.2.5.2. Market estimates and forecast, by end-user, 2017 - 2030 (USD Billion)
- 7.2.5.3. Market estimates and forecast, by dress code, 2017 - 2030 (USD Billion)
- 7.3. Europe
- 7.3.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
- 7.3.2. Market estimates and forecast, by end-user, 2017 - 2030 (USD Billion)
- 7.3.3. Market estimates and forecast, by dress code, 2017 - 2030 (USD Billion))
- 7.3.4. U.K.
- 7.3.4.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
- 7.3.4.2. Market estimates and forecast, by end-user, 2017 - 2030 (USD Billion)
- 7.3.4.3. Market estimates and forecast, by dress code, 2017 - 2030 (USD Billion)
- 7.3.5. France
- 7.3.5.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
- 7.3.5.2. Market estimates and forecast, by end-user, 2017 - 2030 (USD Billion)
- 7.3.5.3. Market estimates and forecast, by dress code, 2017 - 2030 (USD Billion)
- 7.4. Asia Pacific
- 7.4.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
- 7.4.2. Market estimates and forecast, by end-user, 2017 - 2030 (USD Billion)
- 7.4.3. Market estimates and forecast, by dress code, 2017 - 2030 (USD Billion)
- 7.4.4. China
- 7.4.4.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
- 7.4.4.2. Market estimates and forecast, by end-user, 2017 - 2030 (USD Billion)
- 7.4.4.3. Market estimates and forecast, by dress code, 2017 - 2030 (USD Billion)
- 7.4.5. India
- 7.4.5.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
- 7.4.5.2. Market estimates and forecast, by end-user, 2017 - 2030 (USD Billion)
- 7.4.5.3. Market estimates and forecast, by dress code, 2017 - 2030 (USD Billion)
- 7.5. Central & South America
- 7.5.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
- 7.5.2. Market estimates and forecast, by end-user, 2017 - 2030 (USD Billion)
- 7.5.3. Market estimates and forecast, by dress code, 2017 - 2030 (USD Billion)
- 7.5.4. Argentina
- 7.5.4.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
- 7.5.4.2. Market estimates and forecast, by end-user, 2017 - 2030 (USD Billion)
- 7.5.4.3. Market estimates and forecast, by dress code, 2017 - 2030 (USD Billion)
- 7.6. Middle East & Africa
- 7.6.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
- 7.6.2. Market estimates and forecast, by end-user, 2017 - 2030 (USD Billion)
- 7.6.3. Market estimates and forecast, by dress code, 2017 - 2030 (USD Billion)
- 7.6.4. UAE
- 7.6.4.1. Market estimates and forecast, 2017 - 2030 (USD Billion)
- 7.6.4.2. Market estimates and forecast, by end-user, 2017 - 2030 (USD Billion)
- 7.6.4.3. Market estimates and forecast, by dress code, 2017 - 2030 (USD Billion)
Chapter 8. Competitive Analysis
- 8.1. Key global players, recent developments & their impact on the industry
- 8.2. Key Company/Competition Categorization (Key innovators, Market leaders, Emerging players)-
- 8.3. Vendor Landscape
- 8.3.1. Key company market share analysis, 2018
Chapter 9. Company Profiles
- 9.1. The Clothing Rental
- 9.1.1. Company Overview
- 9.1.2. Financial Performance
- 9.1.3. Product Benchmarking
- 9.1.4. Strategic Initiatives
- 9.2. Rent the runway
- 9.2.1. Company Overview
- 9.2.2. Financial Performance
- 9.2.3. Product Benchmarking
- 9.2.4. Strategic Initiatives
- 9.3. Flyrobe.com
- 9.3.1. Company Overview
- 9.3.2. Financial Performance
- 9.3.3. Product Benchmarking
- 9.3.4. Strategic Initiatives
- 9.4. Share Wardrobe
- 9.4.1. Company Overview
- 9.4.2. Financial Performance
- 9.4.3. Product Benchmarking
- 9.4.4. Strategic Initiatives
- 9.5. Secoo Holdings Limited
- 9.5.1. Company Overview
- 9.5.2. Financial Performance
- 9.5.3. Product Benchmarking
- 9.5.4. Strategic Initiatives
- 9.6. Gwynnie Bee
- 9.6.1. Company Overview
- 9.6.2. Financial Performance
- 9.6.3. Product Benchmarking
- 9.6.4. Strategic Initiatives
- 9.7. Le Tote
- 9.7.1. Company Overview
- 9.7.2. Financial Performance
- 9.7.3. Product Benchmarking
- 9.7.4. Strategic Initiatives
- 9.8. Swapdom
- 9.8.1. Company Overview
- 9.8.2. Financial Performance
- 9.8.3. Product Benchmarking
- 9.8.4. Strategic Initiatives
- 9.9. Style Lend
- 9.9.1. Company Overview
- 9.9.2. Financial Performance
- 9.9.3. Product Benchmarking
- 9.9.4. Strategic Initiatives
- 9.10. Dress Hire
- 9.10.1. Company Overview
- 9.10.2. Financial Performance
- 9.10.3. Product Benchmarking
- 9.10.4. Strategic Initiatives
List of Tables
- TABLE 1 Online Clothing Rental - Market driver analysis
- TABLE 2 Online Clothing Rental market restraint analysis
- TABLE 3 Online Clothing Rental market estimates and forecasts in men, 2017 - 2030 (USD Billion)
- TABLE 4 Online Clothing Rental market estimates and forecasts in women, 2017 - 2030 (USD Billion)
- TABLE 5 Online Clothing Rental market estimates and forecasts in others, 2017 - 2030 (USD Billion)
- TABLE 6 North America Online Clothing Rental market estimates and forecasts, 2017 - 2030 (USD Billion)
- TABLE 7 North America Online Clothing Rental market revenue, by end-user, 2017 - 2030 (USD Billion)
- TABLE 8 North America Online Clothing Rental market revenue, by dress code, 2017 - 2030 (USD Billion)
- TABLE 9 U.S. Online Clothing Rental market estimates and forecasts, 2017 - 2030 (USD Billion)
- TABLE 10 U.S. Online Clothing Rental market revenue, by end-user, 2017 - 2030 (USD Billion)
- TABLE 11 U.S. Online Clothing Rental market revenue, by dress code, 2017 - 2030 (USD Billion)
- TABLE 12 Mexico Online Clothing Rental market revenue, by end-user, 2017 - 2030 (USD Billion)
- TABLE 13 Mexico Online Clothing Rental market revenue, by dress code, 2017 - 2030 (USD Billion)
- TABLE 14 Europe Online Clothing Rental market estimates and forecasts, 2017 - 2030 (USD Billion)
- TABLE 15 Europe Online Clothing Rental market revenue, by end-user, 2017 - 2030 (USD Billion)
- TABLE 16 Europe Online Clothing Rental market revenue, by dress code, 2017 - 2030 (USD Billion)
- TABLE 17 France Online Clothing Rental market estimates and forecasts, 2017 - 2030 (USD Billion)
- TABLE 18 France Online Clothing Rental market revenue, by end-user, 2017 - 2030 (USD Billion)
- TABLE 19 France Online Clothing Rental market revenue, by dress code, 2017 - 2030 (USD Billion)
- TABLE 20 U.K. Online Clothing Rental market estimates and forecasts, 2017 - 2030 (USD Billion)
- TABLE 21 U.K. Online Clothing Rental market revenue, by end-user, 2017 - 2030 (USD Billion)
- TABLE 22 U.K. Online Clothing Rental market revenue, by dress code, 2017 - 2030 (USD Billion)
- TABLE 23 Asia Pacific Online Clothing Rental market estimates and forecasts, 2017 - 2030 (USD Billion)
- TABLE 24 Asia Pacific Online Clothing Rental market revenue, by end-user, 2017 - 2030 (USD Billion)
- TABLE 25 Asia Pacific Online Clothing Rental market revenue, by dress code, 2017 - 2030 (USD Billion)
- TABLE 26 China Online Clothing Rental market estimates and forecasts, 2017 - 2030 (USD Billion)
- TABLE 27 China Online Clothing Rental market revenue, by end-user, 2017 - 2030 (USD Billion)
- TABLE 28 China Online Clothing Rental market revenue, by dress code, 2017 - 2030 (USD Billion)
- TABLE 29 India Online Clothing Rental market estimates and forecasts, 2017 - 2030 (USD Billion)
- TABLE 30 India Online Clothing Rental market revenue, by end-user, 2017 - 2030 (USD Billion)
- TABLE 31 India Online Clothing Rental market revenue, by dress code, 2017 - 2030 (USD Billion)
- TABLE 32 Central & South America Online Clothing Rental market revenue, by end-user, 2017 - 2030 (USD Billion)
- TABLE 33Central & South America Online Clothing Rental market revenue, by dress code, 2017 - 2030 (USD Billion)
- TABLE 34 Argentina Online Clothing Rental market estimates and forecasts, 2017 - 2030 (USD Billion)
- TABLE 35 Argentina Online Clothing Rental market revenue, by end-user, 2017 - 2030 (USD Billion)
- TABLE 36 Argentina Online Clothing Rental market revenue, by dress code, 2017 - 2030 (USD Billion)
- TABLE 37Middle East & Africa Online Clothing Rental market estimates and forecasts, 2017 - 2030 (USD Billion)
- TABLE 38Middle East & Africa Online Clothing Rental market revenue, by end-user, 2017 - 2030 (USD Billion)
- TABLE 39 Middle East & Africa Clothing Rental market revenue, by dress code, 2017 - 2030 (USD Billion)
- TABLE 40 UAE Online Clothing Rental market estimates and forecasts, 2017 - 2030 (USD Billion)
- TABLE 41 UAE Online Clothing Rental market revenue, by end-user, 2017 - 2030 (USD Billion)
- TABLE 42 UAE Online Clothing Rental market revenue, by dress code, 2017 - 2030 (USD Billion)
List of Figures
- FIG. 1 Online Clothing Rental Market segmentation & scope
- FIG. 2 Online Clothing Rental Market key opportunities prioritized
- FIG. 3 Value chain analysis Online Clothing Rental
- FIG. 4 Online Clothing Rental Market dynamics
- FIG. 5 Online Clothing Rental Market Porter's Five Forces analysis
- FIG. 6 Online Clothing Rental Market: Application movement analysis
- FIG. 7 Regional Marketplace: Key takeaways
- FIG. 8 Online Clothing Rental market: Regional movement analysis
- FIG. 9 Strategy framework
