Global Online Clothing Rental Market- Market Overview:

The global Online Clothing Rental market is expected to grow from USD 1.21 billion in 2022 to USD 2.35 billion by 2030, at a CAGR of 8.6% during the Projection period 2023-2030. A increasing desire to buy luxury clothing and drastically changing fashion trends are driving up demand for online clothing rentals.

Clothing refers to clothes that are worn on the body. It is also referred to as clothing, apparel, and attire. Although animal skin and other thin sheets of materials have occasionally been stitched together over time, clothing is primarily made of fibres or textiles. All human societies include clothing, which is essentially limited to humans. The amount and type of clothing worn is influenced by a person's gender, body type, social background, and geographic location. Additionally, the online garment rental company provides services that let users rent clothing for a predetermined period of time. These services may be useful for people who want to purchase new costumes for special events including weddings, theme parties, business events, photo sessions, and movie shoots. For those with limited funds who are unable to buy clothing from their favourite brands, rental services provide an affordable alternative. Additionally, renting products would be seen as a more environmentally friendly way to consume clothing today, since businesses are making sustainability a significant component of their marketing strategies. It would be better for the environment and natural resources to wear clothing that has been rented because it would lessen harmful emissions and other pollutants. By incorporating garment rental into their business and sustainability goals, clothing manufacturers could also raise their social manufacturing standards.

Sample Request: - Global Online Clothing Rental Market

Market Dynamics:

Drivers:                          

• Increasing spending on fashion activities by consumers

One of the main factors driving the market expansion of online clothing rental is customers' rising expenditure on fashion-related activities as a result of rising disposable income. The market for online clothing rental is anticipated to increase as a result of rising consumer demand for pricey designer gowns and ongoing changes in consumer fashion sensibility. Another significant aspect driving the market expansion of online clothes rental is the rise in the number of fast fashion labels.

Restraints:                                             

• Lack of customizability

One of the biggest restraints hindering the market’s growth is the lack of customizability as per the requirements of the customers and their body type. Contrary to purchased clothing, which can be altered to an individual's demands or even redone before purchase, rental clothing cannot be modified to an individual's requirements. This is expected to hinder the market’s growth.

Opportunities:

• Increasing focus on children garments

Manufacturers' increased attention to the kid segment is anticipated to present profitable market prospects ahead. Due to parents' changing lifestyles, kids are becoming more brand- and style-conscious, which is also anticipated to boost the market growth for online clothing rentals. Over the projected period, a growing demand for children's clothes is anticipated to fuel market expansion for online garment rental services. Furthermore, growing women's luxury online fashion is expected to provide significant growth potential for the online clothing rental market. Because of their hectic lifestyles, more and more working women are driving demand for online luxury apparels. These working women strongly favour online shopping for apparel purchases. In the near future, this is opening up a wide range of options for online rental companies.

Challenges:

• Lack of awareness

There is lack of awareness about the online clothing rental services which challenges the market’s growth. Furthermore, there are very few organizations providing these services which also challenges the market’s growth.

Segmentation Analysis:

The global Online Clothing Rental market has been segmented based on dress code, end-user, and region.

By Dress Code

The dress code segment is Formal, Casual, and Traditional. The Traditional segment led the largest share of the Online Clothing Rental market with a market share of around 43.2% in 2022. The traditional segment has been increasing as there is an rising demand for wearing a new clothe on every occasion and festival. Furthermore, the rising trend of celebrating every festival with great enthusiasm also adds to the segment’s growth. Traditional clothes can be worn on every major or minor celebration adding impetus to the segment’s growth.

By End-user

The end-user segment is an Men, Women, and Others. The women segment led the largest share of the Online Clothing Rental market with a market share of around 35.6% in 2022. This is mostly caused by the fashion trends, which are essential growth drivers that fuel the market's expansion. According to the event, such as a wedding, festival, event, date, or any other occasion, women choose their clothing. The clothing for special occasions is pricey and must be worn on a certain day. As a result, ladies rent apparel online more frequently because it suits their needs extremely comfortably. The women's market, which accounts for 30.2% of the total market, has a considerable demand for ethnic clothing. Therefore, there is a huge demand for online outfit rentals among women as events and occasions increase.

Global Online Clothing Rental Market - Sales Analysis.

The sale of the Online Clothing Rental market expanded at a CAGR of 8% from 2016 to 2022.

Fashion trends, which are crucial growth factors that support the market's progress, are primarily to responsible for this. Women choose their attire in accordance with the occasion, such as a wedding, festival, event, date, or any other occasion. It costs a lot of money and is required to wear special event attire on a specific day. As a result, women rent clothing online more frequently because it perfectly satisfies their wants.

There is a significant demand for ethnic clothes in the women's market, which represents 30.2% of the overall market. As gatherings and occasions become more frequent, there is a great demand among women for online outfit rentals.The fashion and clothing industries have advanced significantly worldwide over the past several years. As a result, customer brand awareness is quickly expanding. The market for online clothing rentals is being stimulated by technological advancements and better internet access, and this trend is projected to persist during the Projection period.

Due to the growth of social media platforms, people have also recently become more fashion conscious and are being influenced to try on a variety of clothing. Additionally, the market for online apparel rentals has expanded as a result of social media's growing influence and online portals' significant influence.

Similarly, over the next ten years, it is anticipated that the rise of fashion vlogs, fashion events, changing trends in adventure events, occasions, advancements in mobile technology, increased middle-class consumer spending power, new marketing strategies, increased efforts from providers using a subscription model, and various other factors will contribute to the growth of the online clothing rental market.

Thus, owing to the aforementioned factors, the global Online Clothing Rental market is expected to grow at a CAGR of 8.6% during the Projection period from 2023 to 2030.

By Regional Analysis:

The regions analyzed for the Online Clothing Rental market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America region dominated the Online Clothing Rental market and held a 37% share of the market revenue in 2022.

• The North America region witnessed a major share. Millennials in the area are renting more things than they are buying them. Although renting clothes lags behind renting other items like automobiles, furniture, and gadgets in the US, the trend of renting clothes online is quickly catching up. Over 9% of Americans who participated in a public survey in that country expressed a favourable opinion on renting out clothing. Businesses and merchants are also reacting to the possibility and the problem that online clothes rentals present. For instance, CaaStle manages rental services for its own Gwynnie Bee brand in addition to for other shops like Express, American Eagle Outfitters Inc., and Ann Taylor from Ascena Retail Group Inc. It charges a set cost per active member to handle everything from logistics to laundry for the offer.
• Asia-Pacific is anticipated to experience significant growth during the Projection period. RDue to the increasing demand from rising nations like China and India, the Asia Pacific region is the one that is expanding the fastest. One of the main factors influencing growth in the area is the increasing knowledge of consumers and the use of the internet. Since India and China together make up more than 34.0% of the world's population, raising consumer awareness in these nations is anticipated to have an impact on global growth. Instead of having to buy the clothes they want, customers in these developing nations are discovering better ways to get it; renting clothing is an appropriate answer for them.

Global Online Clothing Rental Market - Country Analysis:

• Germany

Germany's Online Clothing Rental market size was valued at USD 0.090 billion in 2022 and is expected to reach USD 0.17 billion by 2030, at a CAGR of 8.7% from 2023 to 2030. Due to their rising awareness of environmental issues and their desire for upscale clothes at reasonable rates, Gen-Z consumers in Germany are the market's key drivers. Online clothes rental apps have proliferated as a result of the significant desire for more sustainable and affordable ways to acquire designer clothing. Additionally, because of the cold weather in the Germany, there is a significant demand from consumers for coats and jackets. In the upcoming years, this will help the online clothes rental market grow even more.

• China

China’s Online Clothing Rental market size was valued at USD 0.098 billion in 2022 and is expected to reach USD 0.193 billion by 2030, at a CAGR of 8.9% from 2023 to 2030. In a survey jointly published by Bain & Co. and the TMall Luxury Division, it was revealed that mainland China made up 20% of the global luxury market in 2017 and will overtake the United States as the world's largest luxury market by 2025. Contrary to the past, Chinese consumers are becoming less reluctant to buy used luxury goods today. In fact, the market for used luxury goods in China increased from 5.9 billion RMB to 17.3 billion RMB between 2016 and 2020, according to the 2021 China Second-hand Luxury Industry Overview.

• India

India's Online Clothing Rental market size was valued at USD 0.076 billion in 2022 and is expected to reach USD 0.14 billion by 2030, at a CAGR of 8.8% from 2023 to 2030. Due to rising internet usage, increased awareness of sustainability, and rising demand for high-end brands at reasonable prices, the online rental clothing market in India has been expanding. The Stylease and The Clothing Rental, both situated in Mumbai, are other companies that provide clothing rental services in India alongside FlyRobe.

Key Industry Players Analysis:

To increase their market position in the global Online Clothing Rental market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.   

• Rent the runway
• Share Wardrobe
• Secoo Holding limited
• Swapdom
• StyleLend
• Dress Hire
• Le Tote
• Fashion rental service
• The Clothing Rental
• com.
• Omapal Technologies Private Limited
• Etiquette Formal Hire Ltd.
• American Eagle Outfitters

Latest Development:

• In December 2021, Burberry expanded its circular fashion initiative with My Wardrobe HQ and promises to provide rental and resale. Trench coats, handbags, and scarves are among the rental items.
• In November 2021, With the help of Hirestreet, Marks & Spencer started its first trial for renting out clothing. The M&S rental collection includes more than 40 items of women's clothing from its Autograph collection, with an emphasis on high-end materials like leather and silk and the newest gowns from its M&S x Ghost partnership.
• In October 2021, H&M, a major retailer of apparel, has introduced a blockchain-based business for renting out clothing with scannable loT labels. By using their smartphone to scan loT-connected stickers, customers may choose clothes for immediate rental. Each garment's rental history is securely tracked using blockchain, a decentralised ledger utilised for data-sensitive loT networks.

Report Metrics

Report Attribute	Details
Study Period	2022-2030
Base year	2022
CAGR (%)	8.6%
Market Size	1.21 billion in 2022
Projection period	2023-2030
Projection unit	Value (USD)
Segments covered	By Dress Code, By End-User, and By Region.
Report Scope	Revenue Projection, competitive landscape, company ranking, growth factors, and trends
Companies covered	Rent the runway, Share Wardrobe, Secoo Holding limited, Swapdom, StyleLend, Dress Hire, Le Tote, Fashion rental service, The Clothing Rental, Flyrobe.com., Omapal Technologies Private Limited, Etiquette Formal Hire Ltd., and American Eagle Outfitters.
By Dress Code	Formal Casual Traditional
By End-User	Men Women Others
Regional scope	North America Europe Asia-Pacific South America Middle East and Africa

Scope of the Report

Global Online Clothing Rental Market  By Dress Code:

• Formal
• Casual
• Traditional

Global Online Clothing Rental Market By End-User:

• Men
• Women
• Others

Global Online Clothing Rental Market By Application:

• Packing
• Printing

Global Online Clothing Rental Market By Region:

• North America
  • USA
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Russia
• Asia-Pacific
  • Japan
  • China
  • India
  • Korea
  • Southeast Asia
• South America
  • Brazil
  • Peru
• Middle East and Africa
  • UAE
  • South Africa
  • Saudi Arabia

Political Factors- Pressure groups can alter the business environment by forming strong media alliances. These organizations are under pressure from these groups, who organize marketing campaigns and arrange rallies. The online clothing rental market needs to keep a watch on these pressure organizations because they have the ability to affect government policy, which could ultimately have an impact on the general business climate. The online clothing rental market industry should collaborate closely with these organizations in order to earn their trust. To build closer ties with the community, it should also invest in moral and philanthropic initiatives.

Economic Factors- Rising inflation could harm the online clothing rental market's potential to increase revenue since it lowers the purchasing power of money and discourages people from spending on products and services. Exchange rate changes may impact the profitability of a corporation. The online clothing rental market should do this study to accurately Projection exchange rate changes and minimize unwanted trade and business performance impacts. The online clothing rental market industry will be required to make payments at a high interest rate, raising the total cost of the loans obtained.

Social factors- High population growth and an increasing proportion of the young population group are two favorable demographic indications when the online clothing rental market predominantly targets young consumers with its products/services. The online clothing rental market should investigate how the host country views immigration since a welcoming attitude toward immigrants from different cultural backgrounds is a signal that diversity management techniques need to be put into place. The online clothing rental market should alter its promotional strategies in order to encourage diversity and inclusion. The online clothing rental market industry may easily hire personnel from a variety of cultural backgrounds, according to a positive attitude toward migration. Workplace diversity is usually linked to higher productivity, better innovation, and superior overall firm success.

Technological Factors- The research and development trend in the chosen sector or area demonstrates how forward-thinking organizations are in bringing cutting-edge technologies to market. The online clothing rental market industry needs to better understand how new technological developments can benefit the business and provide value to customers. It would be necessary to invest in research and development activities in markets defined by disruptive technology. The online clothing rental market must have a long-term outlook and not expect a quick return on its R&D investments.

Environmental Factors- In some countries, the adoption of the closed-loop, circular economy concept is becoming the norm in a variety of locations and industries. Industries that benefit from supportive institutional frameworks can make recycling and reuse of materials easier. Customers participate actively in recycling in several countries in a manner similar to this. The online clothing rental market industry may benefit from these sustainability trends and use them as a strategy to minimize environmental expenses while also achieving economic goals through lower manufacturing costs.

Legal Factors- In many countries, there are numerous federal and state laws in place to protect consumers from potential economic exploitation. In the era of information technology, laws have become considerably stricter to safeguard consumer privacy. In order to avoid lawsuits, the online clothing rental market must rigorously adhere to data privacy regulations when conducting online transactions. Before entering new markets, online clothing rental market management must investigate regional rules on refunds, discounts, credit terms, quality, deceptive advertising, and maximum pricing (particularly in the case of basic essential goods).

1. Introduction
   • 1. Objectives of the Study
   • 2. Market Definition
   • 3. Research Scope
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
   • 1. Porter’s Five Forces Analysis
   • 2. Value Chain Analysis
   • 3. Top Investment Pockets
     • 3.1. Market Attractiveness Analysis By Dress Code
     • 3.2. Market Attractiveness Analysis By End-User
     • 3.3. Market Attractiveness Analysis By Region
   • 4. Industry Trends
5. Market Dynamics
   • 1. Market Evaluation
   • 2. Drivers
     • 2.1. Increasing spending on fashion activities by consumers
   • 3. Restraints
     • 3.1. Lack of customizability
   • 4. Opportunities
     • 4.1. Increasing focus on children garments
   • 5. Challenges
     • 5.1. Lack of awareness

6. Global Online Clothing Rental Market Analysis and Projection, By Dress Code
   • 1. Segment Overview
   • 2. Formal
   • 3. Casual
   • 4. Traditional
7. Global Online Clothing Rental Market Analysis and Projection, By End-User
   • 1. Segment Overview
   • 2. Men
   • 3. Women
   • 4. Others
8. Global Online Clothing Rental Market Analysis and Projection, By Regional Analysis
   • 1. Segment Overview
   • 2. North America
     • 2.1. U.S.
     • 2.2. Canada
     • 2.3. Mexico
   • 3. Europe
     • 3.1. Germany
     • 3.2. France
     • 3.3. U.K.
     • 3.4. Italy
     • 3.5. Spain
   • 4. Asia-Pacific
     • 4.1. Japan
     • 4.2. China
     • 4.3. India
   • 5. South America
     • 5.1. Brazil
   • 6. Middle East and Africa
     • 6.1. UAE
     • 6.2. South Africa

9. Global Online Clothing Rental Market-Competitive Landscape
   • 1. Overview
   • 2. Market Share of Key Players in the Online Clothing Rental Market
     • 2.1. Global Company Market Share
     • 2.2. North America Company Market Share
     • 2.3. Europe Company Market Share
     • 2.4. APAC Company Market Share
   • 3. Competitive Situations and Trends
     • 3.1. Technology Launches and Developments
     • 3.2. Partnerships, Collaborations, and Agreements
     • 3.3. Mergers & Acquisitions
     • 3.4. Expansions

10. Company Profiles
    • Rent the runway
      • 1.1. Business Overview
      • 1.2. Company Snapshot
      • 1.3. Company Market Share Analysis
      • 1.4. Company Technology Portfolio
      • 1.5. Recent Developments
      • 1.6. SWOT Analysis
    • Share Wardrobe
      • 2.1. Business Overview
      • 2.2. Company Snapshot
      • 2.3. Company Market Share Analysis
      • 2.4. Company Technology Portfolio
      • 2.5. Recent Developments
      • 2.6. SWOT Analysis
    • Secoo Holding limited
      • 3.1. Business Overview
      • 3.2. Company Snapshot
      • 3.3. Company Market Share Analysis
      • 3.4. Company Technology Portfolio
      • 3.5. Recent Developments
      • 3.6. SWOT Analysis
    • Swapdom
      • 4.1. Business Overview
      • 4.2. Company Snapshot
      • 4.3. Company Market Share Analysis
      • 4.4. Company Technology Portfolio
      • 4.5. Recent Developments
      • 4.6. SWOT Analysis
    • StyleLend
      • 5.1. Business Overview
      • 5.2. Company Snapshot
      • 5.3. Company Market Share Analysis
      • 5.4. Company Technology Portfolio
      • 5.5. Recent Developments
      • 5.6. SWOT Analysis
    • Dress Hire
      • 6.1. Business Overview
      • 6.2. Company Snapshot
      • 6.3. Company Market Share Analysis
      • 6.4. Company Technology Portfolio
      • 6.5. Recent Developments
      • 6.6. SWOT Analysis
    • Le Tote
      • 7.1. Business Overview
      • 7.2. Company Snapshot
      • 7.3. Company Market Share Analysis
      • 7.4. Company Technology Portfolio
      • 7.5. Recent Developments
      • 7.6. SWOT Analysis
    • Fashion rental service
      • 8.1. Business Overview
      • 8.2. Company Snapshot
      • 8.3. Company Market Share Analysis
      • 8.4. Company Technology Portfolio
      • 8.5. Recent Developments
      • 8.6. SWOT Analysis
    • The Clothing Rental
      • 9.1. Business Overview
      • 9.2. Company Snapshot
      • 9.3. Company Market Share Analysis
      • 9.4. Company Technology Portfolio
      • 9.5. Recent Developments
      • 9.6. SWOT Analysis
    • com.
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Technology Portfolio
      • Recent Developments
      • SWOT Analysis
    • Omapal Technologies Private Limited
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Technology Portfolio
      • Recent Developments
      • SWOT Analysis
    • Etiquette Formal Hire Ltd.
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Technology Portfolio
      • Recent Developments
      • SWOT Analysis
    • American Eagle Outfitters
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Technology Portfolio
      • Recent Developments
      • SWOT Analysis

List of Table

1. Global Online Clothing Rental Market, By Dress Code, 2023–2030 (USD Billion)
2. Global Formal, Online Clothing Rental Market, By Region, 2023–2030 (USD Billion)
3. Global Casual, Online Clothing Rental Market, By Region, 2023–2030 (USD Billion)
4. Global Traditional, Online Clothing Rental Market, By Region, 2023–2030 (USD Billion)
5. Global Online Clothing Rental Market, By End-User 2023–2030 (USD Billion)
6. Global Men, Online Clothing Rental Market, By Region, 2023–2030 (USD Billion)
7. Global Women, Online Clothing Rental Market, By Region, 2023–2030 (USD Billion)
8. Global Others, Online Clothing Rental Market, By Region, 2023–2030 (USD Billion)
9. Global Online Clothing Rental Market, By Region, 2023–2030 (USD Billion)
10. North America Online Clothing Rental Market, By Dress Code, 2023–2030 (USD Billion)
11. North America Online Clothing Rental Market, By End-User 2023–2030 (USD Billion)
12. USA Online Clothing Rental Market, By Dress Code, 2023–2030 (USD Billion)
13. USA Online Clothing Rental Market, By End-User 2023–2030 (USD Billion)
14. Canada Online Clothing Rental Market, By Dress Code, 2023–2030 (USD Billion)
15. Canada Online Clothing Rental Market, By End-User 2023–2030 (USD Billion)
16. Mexico Online Clothing Rental Market, By Dress Code, 2023–2030 (USD Billion)
17. Mexico Online Clothing Rental Market, By End-User 2023–2030 (USD Billion)
18. Europe Online Clothing Rental Market, By Dress Code, 2023–2030 (USD Billion)
19. Europe Online Clothing Rental Market, By End-User 2023–2030 (USD Billion)
20. Germany Online Clothing Rental Market, By Dress Code, 2023–2030 (USD Billion)
21. Germany Online Clothing Rental Market, By End-User 2023–2030 (USD Billion)
22. France Online Clothing Rental Market, By Dress Code, 2023–2030 (USD Billion)
23. France Online Clothing Rental Market, By End-User 2023–2030 (USD Billion)
24. UK Online Clothing Rental Market, By Dress Code, 2023–2030 (USD Billion)
25. UK Online Clothing Rental Market, By End-User 2023–2030 (USD Billion)
26. Italy Online Clothing Rental Market, By Dress Code, 2023–2030 (USD Billion)
27. Italy Online Clothing Rental Market, By End-User 2023–2030 (USD Billion)
28. Spain Online Clothing Rental Market, By Dress Code, 2023–2030 (USD Billion)
29. Spain Online Clothing Rental Market, By End-User 2023–2030 (USD Billion)
30. Asia Pacific Online Clothing Rental Market, By Dress Code, 2023–2030 (USD Billion)
31. Asia Pacific Online Clothing Rental Market, By End-User 2023–2030 (USD Billion)
32. Japan Online Clothing Rental Market, By Dress Code, 2023–2030 (USD Billion)
33. Japan Online Clothing Rental Market, By End-User 2023–2030 (USD Billion)
34. China Online Clothing Rental Market, By Dress Code, 2023–2030 (USD Billion)
35. China Online Clothing Rental Market, By End-User 2023–2030 (USD Billion)
36. India Online Clothing Rental Market, By Dress Code, 2023–2030 (USD Billion)
37. India Online Clothing Rental Market, By End-User 2023–2030 (USD Billion)
38. South America Online Clothing Rental Market, By Dress Code, 2023–2030 (USD Billion)
39. South America Online Clothing Rental Market, By End-User 2023–2030 (USD Billion)
40. Brazil Online Clothing Rental Market, By Dress Code, 2023–2030 (USD Billion)
41. Brazil Online Clothing Rental Market, By End-User 2023–2030 (USD Billion)
42. Middle East and Africa Online Clothing Rental Market, By Dress Code, 2023–2030 (USD Billion)
43. Middle East and Africa Online Clothing Rental Market, By End-User 2023–2030 (USD Billion)
44. UAE Online Clothing Rental Market, By Dress Code, 2023–2030 (USD Billion)
45. UAE Online Clothing Rental Market, By End-User 2023–2030 (USD Billion)
46. South Africa Online Clothing Rental Market, By Dress Code, 2023–2030 (USD Billion)
47. South Africa Online Clothing Rental Market, By End-User 2023–2030 (USD Billion)

List of Figures 

1. Global Online Clothing Rental Market Segmentation
2. Online Clothing Rental Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Online Clothing Rental Market Attractiveness Analysis By Dress Code
9. Global Online Clothing Rental Market Attractiveness Analysis By End-User
10. Global Online Clothing Rental Market Attractiveness Analysis By Region
11. Global Online Clothing Rental Market: Dynamics
12. Global Online Clothing Rental Market Share By Dress Code (2023 & 2030)
13. Global Online Clothing Rental Market Share By End-User (2023 & 2030)
14. Global Online Clothing Rental Market Share by Regions (2023 & 2030)
15. Global Online Clothing Rental Market Share by Company (2021)