Online Clothing Rental Market: Major Trends Reshaping the Future of the Industry

Stay ahead with our updated market reports featuring the latest on tariffs, trade flows, and supply chain transformations.

What Will the Online Clothing Rental Industry Market Size Be by 2025?
The size of the online clothing rental market has surged significantly in the past few years. It is predicted to expand from $1.73 billion in 2024 to $1.92 billion in 2025, showcasing a compound annual growth rate (CAGR) of 11.0%. Factors contributing to the growth during the historical period include shifting consumer perspectives on possession, heightened ecological consciousness, the emergence of the sharing economy, a preference for varied fashion without long-term obligations, and the development of e-commerce and digital platforms.

What's the Long-Term Growth Forecast for the Online Clothing Rental Market Size Through 2029?
The market size of online clothing rental is predicted to experience quick expansion in the forthcoming years. It is projected to reach $2.9 billion by 2029, with a compound annual growth rate (CAGR) of 10.9%. The surge in growth over the prediction period can be credited to the increasing awareness of sustainability, the uptake of circular fashion methods, heightened emphasis on experiential and on-demand fashion, rising demand for designer clothes, and a growing preference for changing fashion statements. The forecast period is expected to see major developments such as technological finesse in virtual fitting and sizing, the rise of specialized rental platforms for particular clothes, partnerships between fashion brands and rental platforms, the utilization of artificial intelligence for personalized fashion suggestions, and the broadening of rental services to include high-end and designer fashion.

View the full report here:
https://www.thebusinessresearchcompany.com/report/online-clothing-rental-global-market-report

What Are the Key Growth Drivers Fueling the Online Clothing Rental Market Expansion?
The rise in the usage of mobile devices and the internet is set to stimulate the expansion of the online clothing rental market. Factors such as economic progress, IT infrastructure development, favorable government and corporate policies, and the urbanization level collectively contribute to the growth of mobile and internet usage. In the scope of online clothing rental services, an individual rents apparel online, utilizing internet services and executes the payment online. Example being, Finder - a US-centric personal finance comparison website reported that in 2022, the proportion of smartphone users in the UK was 89 percent, an increase from 87 percent in 2021, as revealed in September 2023. Moreover, the International Telecommunication Union (ITU), a Swiss agency specializing in information and communication technologies, stated in February 2024 that in 2023, nearly 5.4 billion individuals, or 67 percent of the global population were using the Internet. This is a 45 percent rise from 2021. Hence, the escalating mobile and internet usage signifies progression in the online clothing rental market.

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=6269&type=smp

What Are the Key Trends Driving Online Clothing Rental Market Growth?
Advancements in technology are significantly influencing the online clothing rental industry. Such advancements pave the way for online clothing companies to seamlessly integrate their operations and business models. For example, MatchesFashion, an online business based in the UK, launched the Luxury Rental Service in November 2022. This online platform lets consumers rent high-end fashion items, offering a green, hassle-free alternative to purchasing luxury apparel. It caters predominantly to those who desire access to premium clothing without the need to own them long-term. MatchesFashion's rental service is in line with the growing popularity of fashion rental platforms aimed at minimizing waste and promoting sustainability. The service combines luxury and ease while maintaining the high-end image of the brand by making designer attire available for short-term use or special events.

How Is the Online Clothing Rental Market Segmented?
The online clothing rental market covered in this report is segmented -

1) By Clothing Styles: Western Wear, Ethnic Wear, Other Clothing Styles
2) By Dress Code: Formal, Casual, Traditional
3) By Price Range: Low, Mid, Premium
4) By End User: Women, Men, Kids

Subsegments:
1) By Western Wear: Casual Wear, Formal Wear, Activewear, Outerwear, Dresses
2) By Ethnic Wear: Traditional Dresses, Kurtas And Kurtis, Sherwanis, Fusion Wear
3) By Other Clothing Styles: Sportswear, Beachwear, Loungewear, Costumes And Party Wear

Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=6269&type=smp

Which Companies Are Leading the Charge in Online Clothing Rental Market Innovation?
Major companies operating in the online clothing rental market include Rent the Runway, Le Tote, HURR Collective, GlamCorner, MyWardrobeHQ, Bag Borrow or Steal, The RealReal, Snag Tights, Style Lend, Vinted, Portray, Wardrobe Society, Kidizen, Your Closet, ShopLooks, Rented, Dress & Go, ShareWardrobe, Cladwell, Borrowed & Blue, Armarium, FashionPass, Rent-a-Center, La Tote, Trendy Butler, ReDress, Chic By Choice, Modsy, Rent My Wardrobe.

Which Regions Are Leading the Global Online Clothing Rental Market in Revenue?
North America was the largest region in the online clothing retail market in 2024. The regions covered in the online clothing rental market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=6269

This Report Supports:
1. Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2. Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3. Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4. Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.

Learn More About The Business Research Company
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model (GMM), is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.

Reach out to us:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.