US: 1.646.568.9797 (24x5)
UK: 44.330.808.0580 (24x5)
Worldwide: 91.703.051.960 (24x7)
Report updated on 11th September, 2021: Global Online Clothing Rental Market 2021 (Includes Business Impact of COVID-19)Global Online Clothing Rental Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2030 is a recent report generated by Trusted Business Insights. The global online clothing rental market report has been segmented as per clothing styles, end user, and region.Request Covid - 19 Impact Global Online Clothing Rental Market: Overview Online clothing rental includes services through which individuals can rent various clothing items to the consumers as per their requirement for a certain period of time. Online clothing rental services are more convenient and cost-effective for consumers. The user can take various clothing items on rent for different occasion such as wedding ceremony, corporate parties, theme party, film making, photo shoots, and many more. Also, the budget and fashion conscious consumer mainly preferred the various online clothing rental services across the globe. The global Online Clothing Rental market size was valued at USD$1.36 billion in 2020 and is projected to reach USD $3.52 billion by 2030 is anticipated to expand at a CAGR of 10.00% over the forecast period from 2020 to 2030.
Global Online Clothing Rental Market: DynamicsIncreasing penetration of smartphone, laptops, tablets, and internet in developed and developing countries coupled with expanding e-commerce industry across the globe are key factors projected to drive growth of the global online clothing rental market. In addition, increasing popularity of online clothing rental services among millennials due to various benefits provided by e-commerce portals such as easy shopping, availability of various designer brands and stylish clothes, cost-effective, and others to the consumers. This is another factor expected to support growth of the target market during the forecast period. Growing demand for online clothing rental services among individuals due to the rising number of fashion and budget consciousness consumers across the globe is another factor projected to boost growth of the global market. In addition, increasing technological advancement in e-commerce and telecommunication sector across the globe and growing demand for various types of clothes such as party wear, designer dresses, wedding suits, and others among individuals through the various online portals. These are other factors expected to fuel growth of the global market over the forecast period. Furthermore, the rising number of aggressive marketing strategies through the several media channels by online rental clothing service providers is another factor projected to boost growth of the global market in the upcoming years. However, limited availability of online rental dresses associated with limited sizes is key factor may hamper growth of the global online clothing rental market. In addition, less awareness about online clothing rental services in many areas across the globe is a challenging factor that may affect growth of the target market to a certain extent.
Global Online Clothing Rental Market: Segment AnalysisIncreasing adoption of ethnic wear especially among the female population due to the frequent use of various ethnic dress patterns for several festivals such as a wedding, photo-shoot, film making, and others. This is the main factor driving the revenue growth of the ethnic wear segment among the clothing styles segment. Among the end-user segment, the women segment is projected to witness significant growth in the target market, owing to rising adoption of ethnic wear, party wear, and other dresses among the female population for special occasions across the globe.
Global Online Clothing Rental Market: Region AnalysisNorth America online clothing rental market accounted for the highest revenue share and is expected to dominate the target market over the forecast period. High demand for online rental clothes among individuals due to the rising celebration of various traditions like several parties, fashion shows, wedding, Halloween, and many other events in countries such as US and Canada in this region. The market in the Asia Pacific is estimated to register a significant rate of growth in the global market followed by the market in Europe, owing to rising adoption of designer dresses associated with brands for various festivals and parties in countries such as China, India, Germany, Franc, and UK in these regions. The market in Latin America and the Middle East & Africa are anticipated to witness moderate growth in terms of revenue, attributable to increasing awareness about various online clothing rental services among individuals in countries in these regions.
Global Online Clothing Rental Market Segmentation:Segmentation by Clothing Styles:
Table of Contents Chapter 1. Methodology and Scope 1.1. Research Methodology 1.2. Research Scope & Assumptions 1.3. List of Data SourcesChapter 2. Executive SummaryChapter 3. Global Online Clothing Rental Market Outlook 3.1. Market Segmentation 3.2. Market Size and Growth Prospects, 2016 - 2027 3.3. Value Chain Analysis 3.4. Market Dynamics 3.4.1. Market driver analysis 3.4.2. Market restraint analysis | read more...