Apparel Rental Market Size, Share and Trend Analysis by Segments, Region, Category Performance and Competitive Landscape to 2027
Powered by
All the vital news, analysis, and commentary curated by our industry experts.
Apparel Rental Market Report Overview
The apparel rental market size was $6.2 billion in 2023 and the market will achieve a CAGR of more than 11% during 2023-2027. The apparel rental market will grow in 2024 but the market’s potential will remain restricted due to its limited application outside of occasionwear.
Apparel Rental Market Overview, 2023-2027 ($ Billion)
Buy the Full Report to Know More About the Apparel Rental Market Forecast
Download a Free Report Sample
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 |
Enquire & Decide | Discover the perfect solution for your business needs. Enquire now and let us help you make an informed decision before making a purchase. |
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.
Buy Full Report to Know More About the Trends in the Apparel Rental Market
Download a Free Report Sample
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 because of the occasionwear platforms, particularly womenswear, which focus on items such as dresses and skirts. Moreover, in the accessories rental market, luxury handbags have fueled growth as many consumers cannot afford to buy such items brand new.
Apparel Rental Market Analysis by Categories, 2023 (%)
Buy Full Report to Know More about the Categories in the Apparel Rental Market
Download a Free Report Sample
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 rental services. The strength of specialists such as HURR and My Wardrobe HQ will also aid the fast growth of the European rental market in the coming years.
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 (%)
Buy the Full Report to Know More about the Regions in the Apparel Rental Market
Download a Free Report Sample
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.
After starting as a purely consumer-to-consumer platform, HURR has since expanded into managed listings via brand partnerships. For instance, in July 2022, HURR became the first fashion rental service globally to receive B Corp certification, demonstrating its high standard of social and environmental performance, transparency and accountability. HURR has a partnership with the B Corp certified dry-cleaning business Oxwash to aid its credentials.
Apparel Rental Market Analysis by Brands
Buy Full Report to Know More about the Brands in the Apparel Rental Market
Download a Free Report Sample
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.
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
Table
Figures
Frequently asked questions
-
What was the apparel rental market size in 2023?
The apparel rental market size was $6.2 billion in 2023.
-
What will the apparel rental market growth rate be during the forecast period?
The apparel rental market will grow at a CAGR of more than 11% during 2023-2027.
-
Which region accounted for the highest share of the apparel rental market in 2023?
Asia-Pacific accounted for the highest share of the apparel rental market in 2023.
-
Which category accounted for the highest share of the apparel rental market in 2023?
The clothing category accounted for the highest share of the apparel rental market in 2023.
-
Which are the leading brands in the apparel rental market?
A few of the leading apparel rental brands are HURR, By Rotation, Nuuly, and Gwynnie Bee, among others.
Get in touch to find out about multi-purchase discounts
reportstore@globaldata.com
Tel +44 20 7947 2745
Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.