Apparel Rental Market Size, Share and Trend Analysis by Segments, Region, Category Performance and Competitive Landscape to 2027

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Apparel Rental Market Report Overview

The apparel rental market size was $6.2 billion in 2023. The market is expected to achieve a CAGR of more than 11% during 2023-2027. The apparel rental market will grow in 2024 but the market’s potential will remain restricted due to its limited application outside of occasionwear.

Apparel Rental Market Overview, 2023-2027 ($ Billion)
Apparel Rental Market Overview, 2023-2027 ($ Billion)
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The Apparel rental market research report offers a comprehensive overview and analysis of the apparel rental market and the key trends shaping it. The report also includes the market sizes and forecasts for 48 countries and category breakdowns. In addition, the report provides in-depth insights on the leading companies to help gain a competitive edge.

Market Size (2023) $6.2 billion
CAGR (2023-2027) >11%
Historical Period 2017-2022
Forecast Period 2023-2027
Key Categories ·       Clothing

·       Footwear

·       Accessories

Key Regions ·       Asia-Pacific

·       Europe

·       Americas

·       Middle East and Africa

Key Countries ·       The USA

·       China

·       India

·       The UK

·       South Korea

Leading Brands ·       HURR

·       By Rotation

·       Nuuly

·       Gwynnie Bee

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Apparel Rental Market – Key Trends

The key trends shaping the apparel rental market are diversification of product offerings to widen the appeal, collaborating with specialist platforms and services, and experimenting with in-store rental services to alleviate fit barriers.

Diversification of product offerings: Platforms are increasingly diversifying their product range to offer more day-to-day options and thus widen the appeal of the apparel rental market. Many are also introducing skiwear to capitalize on the popularity of the sport. Childrenswear rental also represents a lucrative market, as the fast rate at which children grow out of clothing impacts both the environment and consumers’ finances.

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Apparel Rental Market Segmentation by Categories

The clothing category accounted for the highest share of the apparel rental market in 2023

The key categories in the apparel rental market are clothing, footwear, and accessories. The clothing category growth will continue to be the fastest within the rental market due to occasionwear platforms, particularly womenswear, which focus on items such as dresses and skirts. Moreover, in the accessories rental market, luxury handbags have fuelled growth as many consumers cannot afford to buy such items brand new.

Apparel Rental Market Analysis by Categories, 2023 (%)
Apparel Rental Market Analysis by Categories, 2023 (%)
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Apparel Rental Market Segmentation by Regions and Countries

Asia-Pacific accounted for the highest share of the apparel rental market in 2023

The key regions in the apparel rental market are Asia-Pacific, Europe, the Americas, and the Middle East and Africa. Europe is expected to be the rental market’s fastest-growing region, fuelled by the high number of traditional players launching their own rental services. The strength of specialists such as HURR and My Wardrobe HQ will also aid the fast growth of the European rental market. The Americas’ market share is expected to decline the most between 2023 and 2027.

The major countries in the apparel rental market are the US, China, India, the UK, and South Korea, among others. In 2023, the US accounted for the highest market share. Meanwhile, France will experience the strongest forecast growth owing to online platforms such as Les Cachotieres and Le Closet.

Apparel Rental Market Analysis by Regions, 2023 (%)
Apparel Rental Market Analysis by Regions, 2023 (%)
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Apparel Rental Market - Competitive Landscape

A few of the leading brands in the apparel rental market are:

  • HURR
  • By Rotation
  • Nuuly
  • Gwynnie Bee

HURR is a womenswear rental platform that mainly offers hire for premium and luxury brands and predominantly specializes in occasionwear. It currently operates in the UK through its online proposition and a permanent space in London’s Selfridges department store. After starting out as a purely consumer-to-consumer platform, HURR has since expanded into managed listings via brand partnerships.

Apparel Rental Market Analysis by Brands
Apparel Rental Market Analysis by Brands
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Segments Covered in the Report

Apparel Rental Market Categories Outlook (Value, $ Billion, 2017-2027)

  • Clothing
  • Footwear
  • Accessories

Apparel Rental Market Regional Outlook (Value, $ Billion, 2017-2027)

  • Asia-Pacific
  • Europe
  • Americas
  • Middle East and Africa

Apparel Rental Market Country Outlook (Value, $ Billion, 2017-2027)

  • The USA
  • China
  • India
  • The UK
  • South Korea

Key Highlights

  • Affordability represents the biggest incentive for renting apparel according to the UK consumers, as it is more cost-effective than buying items brand new, especially as consumers mainly choose to rent special outfits for events that they would only wear once.
  • An increasing number of retailers and brands have begun launching their own rental propositions in recent years, and though these initiatives are unlikely to drive significant revenue, they allow brands to improve their sustainability credentials and relevance.
  • There are still several inhibitors for growth in the apparel rental market. Many UK shoppers who did not rent apparel said this was due to their preference for owning items, showing there is a long way to go to convince consumers of the benefits of renting.
  • Rental is most popular for luxury and premium brands, with a few of the UK renters stating that renting allowed them access to something they could not afford to buy outright.

Reasons to Buy

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

ASOS
Ba&sh
Bo+Tee
Boohoo
By Rotation
Coperni
Damson Madder
Eloquii
Farm Rio
French Connection
Ganni
Good American
Gwynnie Bee
H&M
Hirestreet
HURR
Jaquemus
John Lewis & Partners
La Más Mona
Levi's
Lidl
LK Bennett
Maje
Mango
Missoma
Moss Bros
Motel
Mugler
Mulberry
My Wardrobe HQ
Net-a-Porter
Nobody's Child
Nuuly
Oh Polly
OOSC
Oxwash
Paco Rabanne
Paige
Rejina Pyo
Rent The Runway
Rixo
Rntr
Selfridges
The Kooples
Universal Standard
Urban Outfitters
Victoria Beckham
Zadig & Voltaire
Zara

Table of Contents

  • 1. Executive Summary
  • 2. Key Trends in the Global Apparel Rental Market

    • 2.1. Rental platforms diversify their product offerings to widen appeal
    • 2.2. Mainstream brands launch rental with specialist platforms and services
    • 2.3. Brands experiment with in-store rental services to alleviate fit barriers

  • 3. Global Apparel Rental Market Size to 2027
  • 4. Regional Performance to 2027
  • 5. Category Performance to 2027
  • 6. Consumer Insights
  • 7. Competitive Landscape: Company Profiles

    • 7.1. Nuuly
    • 7.2. HURR
    • 7.3. By Rotation
    • 7.4. Gwynnie Bee

  • 8. Appendix
  • 9. Definitions & Methodology

Table

Rental Market Value by Country ($ bn) 2017, 2022, 2023 & 2027 with Forecast Growth ($ bn) and CAGR (%) 2023-2027

Figures

Global Apparel Rental Market Value 2017, 2023, 2027 (£ bn) with Five-Year CAGR (%)

Global Apparel Rental Market Value (£ bn) 2017-2027, Annual Growth (%)

Global Apparel Rental Market by Region (%), 2017, 2023 & 2027

Top 10 Global Apparel Rental Markets by Value ($ m), 2017, 2023 & 2027 and 2023-2027 CAGR (%)

Global Apparel Rental Market by Category Share (%), 2017, 2023 & 2027

Global Apparel Rental Market Sub-Category by Value 2017-2027

Percentage of consumers that had already, or intended to rent apparel in 2023, globally and by region

Most Popular Apparel Styles Rented in the UK

Reasons that UK Consumers Rented Apparel

Reasons that UK Consumers Did Not Rent Apparel

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