Global Online Clothing Rental Market Report 2023: Sector is Expected to Reach $3.5 Billion by 2028 at a CAGR of 9.78% - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Online Clothing Rental Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global online clothing rental market size reached US$ 2.0 Billion in 2022. Looking forward, the analyst expects the market to reach US$ 3.5 Billion by 2028, exhibiting a CAGR of 9.78% during 2022-2028.

Companies Mentioned

• Clothing Rental
• Dress & Go
• Rent it Bae
• Glam Corner Pty Ltd
• Gwynnie Bee
• Le Tote
• Rent The Runway Inc.
• StyleLend

Online clothing rental can be described as a collection of services that enable consumers to rent garments for a predefined period. These portals offer designer apparel, footwear and accessories in a wide range of sizes, colours and brands.

These services are commonly utilized by budget-conscious individuals who prefer to wear premium branded products at affordable prices for occasional events, such as weddings, theme parties, photoshoots and filmmaking.

The thriving online retail industry is one of the key factors driving the growth of the market across the globe. Furthermore, rising urban population with higher fashion consciousness is also contributing to the increasing service demand. There is an emerging trend of wearing designer apparel without actually owning them, especially among millennials, to keep up with the ever-changing fashion trends.

Additionally, increasing awareness regarding sustainable clothing and positive environmental effects of sharing and reusing apparels is another factor favoring the market growth. Sustainability approaches, such as reusing pre-owned apparel, utilizing minimal plastic packaging, efficiently using recyclable, renewable and production resources such as, power, water and other materials are increasingly being preferred, which in turn, is contributing to the market growth.

Moreover, with an increasing emphasis on sharing instead of owning, online clothing rental services enable the brand- and price-conscious consumers to try a wide variety of outfits without purchasing them. Other factors, including increasing adoption of subscription-based models, rising internet penetration rates and inflating disposable income levels, are projected to drive the market further.

Key Market Segmentation:

The analyst provides an analysis of the key trends in each sub-segment of the global online clothing rental market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on clothing styles, end user, price range, end use sector and business model.

Breakup by Clothing Styles:

• Western Wear
• Ethnic Wear
• Others

Breakup by End User:

• Women
• Men
• Kids

Breakup by Price Range:

• Low
• Mid
• Premium

Breakup by End Use Sector:

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

Breakup by Business Model:

• Peer-to-Peer Model
• Standalone Model
• Hybrid Model

Breakup by Region:

• North America
• United States
• Canada
• Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil
• Mexico
• Others
• Middle East and Africa

Key Questions Answered in This Report

1. What was the size of the global online clothing rental market in 2022?

2. What is the expected growth rate of the global online clothing rental market during 2023-2028?

3. What has been the impact of COVID-19 on the global online clothing rental market?

4. What are the key factors driving the global online clothing rental market?

5. What is the breakup of the global online clothing rental market based on the clothing styles?

6. What is the breakup of the global online clothing rental market based on the end user?

7. What is the breakup of the global online clothing rental market based on the price range?

8. What is the breakup of the global online clothing rental market based on the end use sector?

9. What is the breakup of the global online clothing rental market based on the business model?

10. What are the key regions in the global online clothing rental market?

11. Who are the key players/companies in the global online clothing rental market?

For more information about this report visit https://www.researchandmarkets.com/r/kqidt5

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