Global Online Clothing Rental Market- Overview
It is estimated for the global online clothing rental market to witness growth at a CAGR of 9.1% during the forecast period of 2022 to 2030. The market witnessed growth at a CAGR of 7.9% during the previous forecast period of 2018 to 2021. Online clothing rental refers to services that allow customers to rent garments and other accessories for a specific time. The presence of these services enables people to reduce the need for getting new clothes for special occasions and thus, saves them money.
Global Online Clothing Rental Market- Growth Factors
The growing demand of a larger audience to often wear trendy clothes is estimated to boost the growth of the market during the forecast period. Also, the growing demand of the to wear heavily priced clothes without actually paying a hefty price is also estimated to boost the rental market during the forecast period as people opt to rent out clothes instead of purchasing them on a frequent basis and this demand of the audience is driving the growth of the market. The increasing demand to look rich to boost the social status is also boosting the growth of the market during the forecast period. The increasing online channels opting to rent out clothes is also driving the growth of the market during the forecast period. However, the higher rent of these clothes is estimated to hamper the growth of the market during the forecast period.
Global Online Clothing Rental Market- Market Trends
The growing demand of a larger audience to often wear trendy clothes is estimated to boost the growth of the market during the forecast period.
Also, the growing demand of the to wear heavily priced clothes without actually paying a hefty price is also estimated to boost the rental market during the forecast period as people opt to rent out clothes instead of purchasing them on a frequent basis and this demand of the audience is driving the growth of the market.
The increasing online channels opting to rent out clothes is also driving the growth of the market during the forecast period. However, the higher rent of these clothes is estimated to hamper the growth of the market during the forecast period.
Global Online Clothing Rental Market- Segmentation
The global online clothing rental market is segmented on product type, distribution channel type and end user type.
Based on product type, the market is segmented into,
Formal
Casual
Traditional
Based on distribution channel, the market is segmented into,
Online
Offline
Based on end user, the market is segmented into,
Men
Women
Global Online Clothing Rental Market Regional Analysis
It is estimated for the region of Asia Pacific to drive the growth of the market during the forecast period. The growth in the technological advancements in the food sector in the region is estimated to foster the growth of the market during the forecast period. The region of Europe is estimated to witness growth at a healthy rate during the forecast period. The US region is also estimated to witness a notable growth rate in the market.
Global Online Clothing Rental Market Key Market players
Clothing Rental; Rent the runway; Flyrobe.com; Share Wardrobe; Secoo Holding Limited; Gwynnie Bee; Le Tote; Swapdom; Style Lend; Dress Hire. are the major players that are driving the growth of the market during the forecast period.
