Secondhand Apparel

Secondhand Apparel

Global Secondhand Apparel Market to Reach US$430.8 Billion by 2030

The global market for Secondhand Apparel estimated at US$179.8 Billion in the year 2023, is expected to reach US$430.8 Billion by 2030, growing at a CAGR of 13.3% over the analysis period 2023-2030. Secondhand Dresses & Tops, one of the segments analyzed in the report, is expected to record a 13.6% CAGR and reach US$168.1 Billion by the end of the analysis period. Growth in the Secondhand Shirts & T-Shirts segment is estimated at 12.5% CAGR over the analysis period.

The U.S. Market is Estimated at US$49.0 Billion While China is Forecast to Grow at 17.8% CAGR

The Secondhand Apparel market in the U.S. is estimated at US$49.0 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$95.2 Billion by the year 2030 trailing a CAGR of 17.8% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 10.0% and 11.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 10.6% CAGR.

Secondhand Apparel - Key Trends and Drivers

Secondhand apparel has emerged as a significant segment within the fashion industry, driven by a growing awareness of sustainability and economic pragmatism. Consumers are increasingly turning to secondhand clothing as an eco-friendly alternative to fast fashion, which is notorious for its environmental impact. Secondhand shops, thrift stores, and online platforms like Depop, ThredUp, and Poshmark offer a wide variety of pre-owned clothing, catering to diverse tastes and budgets. These platforms not only provide consumers with access to unique and vintage items but also enable them to extend the lifecycle of garments, thereby reducing waste. The rise of the circular economy concept, where resources are reused and recycled, has further popularized secondhand apparel as a viable and responsible shopping option.

The appeal of secondhand apparel extends beyond environmental benefits, offering economic advantages to both buyers and sellers. For buyers, secondhand clothing is often significantly cheaper than new items, making it accessible to a broader audience. For sellers, it provides an opportunity to declutter their wardrobes and earn money from items they no longer wear. Additionally, the stigma once associated with wearing used clothing has diminished, as fashion influencers and celebrities openly endorse thrift shopping and vintage fashion. This shift in perception has been bolstered by the rise of social media, where individuals proudly share their secondhand finds and promote sustainable fashion choices. As a result, secondhand apparel has become a fashionable and socially conscious choice for many consumers.

The growth in the secondhand apparel market is driven by several factors. One of the primary drivers is the increasing consumer demand for sustainable and ethical fashion options, as awareness of the environmental and social impacts of fast fashion continues to rise. Technological advancements, particularly the proliferation of online marketplaces and mobile apps, have made buying and selling secondhand clothing more accessible and convenient. The economic downturns and financial uncertainties brought about by global events like the COVID-19 pandemic have also led more consumers to seek cost-effective shopping alternatives. Furthermore, the expanding middle class in emerging economies is driving demand for affordable yet stylish clothing, contributing to the growth of the secondhand market. Additionally, fashion brands and retailers are beginning to embrace the resale model, integrating secondhand offerings into their business strategies to attract eco-conscious consumers. These factors collectively ensure that the secondhand apparel market will continue to expand, reflecting broader shifts in consumer behavior and industry practices towards sustainability and value-driven shopping.

Select Competitors (Total 51 Featured) -

• AB Lindex
• Chikatex SL
• Depop Limited
• Etsy, Inc.
• H&M Group
• Micolet Web, SL
• Mobacotex, S.L
• Poshmark, Inc.
• thredUP, Inc.
• Thrift+
• Uniqlo Co., Ltd.
• Vestiaire Collective
• Vinted Inc
• Wallapop
• Zalando;

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