Apparel Rental Market Size and Trend Analysis by Category, Segments and Region, Consumer Attitudes and Competitive Landscape, 2016-2026

Pages: 55 Published: December 09, 2022 Report Code: GDAPP220001RR

The apparel rental market size is valued at $4.9 billion in 2022 and is expected to achieve a CAGR of more than 19% during 2022-2026. The market is driven by increased consumer awareness of the environmental impacts of fast fashion, with specialist platforms such as HURR, Le Closet, and GlamCorner launching and capitalizing on the demand for more sustainable ways of wearing new outfits.

Apparel rental is more established in the APAC region. Consumers in the region are more used to renting both traditional dress and Western occasionwear, as well as subscribing to rental clothing subscriptions, which are especially popular in East Asia.

The apparel rental market research report offers comprehensive insight and analysis of the apparel rental market, including market sizes and forecasts for 48 countries and category breakdowns. It also provides a detailed analysis of the key trends shaping the market and the leading companies in apparel rental.

Apparel Rental Market Outlook

Apparel Rental Market Outlook

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Apparel Rental Market Drivers

An increasing number of rental platforms are now allowing consumers to rent out their products via a consumer-to-consumer model. This helps the platforms to provide a greater selection of items, and also benefits consumers as they can make extra money lending out products that would largely be sat in their wardrobes unworn.

While occasion wear is currently the key product offer for most rental companies, people would generally only need to hire items once or twice a year. Therefore, some platforms have been diversifying their ranges to become more casual, with the rental of casual items having been the norm in Japan and South Korea for many years now.

Apparel Rental Market Segmentation by Regions

The key regions in the apparel rental market are Asia-Pacific, Europe, the Americas, and Middle East & Africa. Asia-Pacific region has the highest market share in the apparel rental market in 2022. Europe’s rental apparel market share declined between 2016 and 2022 because of the impacts of the pandemic, but the region has the highest growth potential out to 2026, with its share of the market set to rise.

Apparel Rental Market Analysis by Regions

Apparel Rental Market Analysis by Regions

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Apparel Rental Market Segmentation by Categories

The key categories in the apparel rental market are clothing, footwear, and accessories. Clothing is the leading category in the apparel rental market owing to wide availability and because of shoppers who are looking for something unique to wear to events. Womenswear overtook menswear as the biggest category within the clothing rental market in 2018, following the gradual decline of suit rental and the emergence of numerous womenswear rental platforms.

Apparel Rental Market Share by Categories

Apparel Rental Market Share by Categories

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Apparel Rental Market – Competitive Landscape

Some of the leading companies in the apparel rental market are Rent the Runway, Hirestreet, HURR, Circos, Moss Bros, and airCloset.

Rent the Runway: Founded in 2009, Rent the Runway was one of the first platforms to pave the way for the rental industry. With its launch coinciding with a period of recession in the US, the company was created to help women that purchase luxury occasion wear that they will only wear once to avoid credit card debt.

Hirestreet: Hirestreet was launched in 2017 to make sustainable fashion more accessible for women. Premium and luxury apparel is often favored on rental platforms due to its aspirational nature and higher price tags, with rental making these items more affordable for many consumers. Premium and luxury apparel is often favored on rental platforms due to its aspirational nature and higher price tags, with rental making these items more affordable for many consumers.

Apparel Rental Market Report Overview

Market Size (2022) $4.9 billion
CAGR (2022-2026) >19%
Key Regions Asia-Pacific, Europe, the Americas, and Middle East & Africa
Key Categories Clothing, Footwear, and Accessories
Leading Companies Rent the Runway, Hirestreet, HURR, Circos, Moss Bros, and airCloset

Key Highlights

  • While the growth of the apparel rental market will slow in forecast years as the market matures, it will still experience double-digit growth as rental platforms expand to new regions and consumers become increasingly comfortable with renting apparel.
  • The apparel rental market is widely contrasted between regions, with Asia-Pacific and North America being early adopters of the trend while Europe is experiencing a boom in the current period.
  • Eastern Europe’s apparel rental market will grow the strongest in forecast years thanks to its growing economy and the growing presence of online rental platforms.

Reasons to Buy

  • Understand what is behind the high growth in the apparel rental market, and the differentiation between categories.
  • Learn about the geographical differences in consumers renting apparel, and which are the key countries driving growth in the market.
  • Identify what makes the leading rental players successful and how you could integrate these strategies within your own business.

Key Players

Adidas
Aiayu
airCloset
Arket
By Rotation
Caastle
Circos
Cocoon
Crew Clothing
David Jones
Depop
Drexcode
Fendi
Flyrobe
For the Creators
French Connection
Ganni
GlamCorner
Gucci
H&M
Hirestreet
HURR
Jos A Bank
Laxus
Le Closet
Loewe
Louis Vuitton
Marks & Spencer
Men's Warehouse
Moschino
Moss Bros
Ms.Paris
Mulberry
Nuuly
Patagonia
Paula Janz
Ralph Lauren
Rebecca Minkoff
Rent the Runway
Rotaro
Selfridges
Series Eight
Tailored Brands
The Clothing Rental
thelittleloop
The Stylease
Tommy Hilfiger
Vigga
Vivrelle
Wrapd
YCloset

Table of Contents

Table of Contents

DEFINITIONS & GEOGRAPHIC COVERAGE

EXECUTIVE SUMMARY

KEY TRENDS IN THE GLOBAL APPAREL RENTAL MARKET

Global Apparel Rental Market Drivers

Global Apparel Rental Market Inhibitors

Intentions to rent apparel by age group and region, 2022

Key Trends

Potential for rental platforms to expand beyond occasionwear

Pop-ups can help allay fit concerns among shoppers

Brands launch their own rental services to benefit from increased interest

Subscription services fulfil growing demand for convenient shopping

Sustainable rental is not as straightforward as it seems

Strategies for Success in the Global Apparel Rental Market

THE GLOBAL APPAREL RENTAL MARKET: TOTAL MARKET SIZE & FORECASTS TO 2026

Global Apparel Rental Market, 2016, 2022 and 2026

Global Apparel Rental Market, 2016-2026

THE GLOBAL APPAREL RENTAL MARKET: REGIONAL PERFORMANCE & FORECASTS TO 2026

Global Apparel Rental Market by Region, 2016, 2022 & 2026

Global Apparel Rental Market by Region, 2016-2026

Global Apparel Rental Market by Region, 2022-2026

Global Apparel Rental Market: Regional Summary

Top 10 Global Apparel Rental Markets

THE GLOBAL APPAREL RENTAL MARKET: CATEGORY PERFORMANCE & FORECASTS TO 2026

Category Trends

Global Apparel Rental Market by Category, 2016, 2022 & 2026

Global Apparel Rental Market by Category, 2016-2026

Global Apparel Rental Market by Category, 2016, 2022 & 2026

COMPETITIVE LANDSCAPE: COMPANY PROFILES

Company in Focus

Rent the Runway

Hirestreet

HURR

Circos

Moss Bros

airCloset

Rental Companies to Watch

APPENDIX

Apparel Rental Market by Country

METHODOLOGY, DEFINITIONS & CONTACTS

List of Tables

List of Tables

Company in Focus: Rent the Runway

Company in Focus: Hirestreet

Company in Focus: HURR

Company in Focus: Circos

Company in Focus: Moss Bros

Company in Focus: airCloset

Apparel Rental Market Value ($ bn), Forecast Value and CAGR Growth (%) by Country, 2016-2026

List of Figures

List of Figures

Intentions to rent apparel by age group and region, 2022

Global Apparel Rental Market Value 2016, 2022 & 2026 ($ bn), with CAGR (%)

Global Apparel Rental Market Value ($ bn) 2016-2026, and Annual Growth (%)

Regional Share within the Global Apparel Rental Market (%), 2016, 2022 (f) & 2026 (f)

Regional Growth (%) within the Global Apparel Rental Market, 2016-2026

Forecast CAGR by Region (% in USD) within the Global Apparel Rental Market, 2022-2026

Top 10 Global Apparel Rental Countries by Value ($ bn), 2016, 2022 & 2026

Top 10 Global Apparel Rental Countries by Forecast CAGR (%), 2022-2026

Category Share within the Global Apparel Rental Market (%), 2016, 2022 & 2026

Category Growth (%) within the Global Apparel Rental Market, 2016-2026

Global Apparel Rental Market by Category Value ($ bn), 2016, 2022 & 2026

Global Apparel Rental Market by Category Forecast CAGR (%) 2022-2026

Frequently Asked Questions

The apparel rental market size is valued at $4.9 billion in 2022.

The apparel rental market is expected to achieve a CAGR of more than 19% during 2022-2026.

The key regions in the apparel rental market are Asia-Pacific, Europe, the Americas, and Middle East & Africa.

The key categories in the apparel rental market are clothing, footwear, and accessories.

Some of the leading companies in the apparel rental market are Rent the Runway, Hirestreet, HURR, Circos, Moss Bros, and airCloset.

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