The online clothing rental market has the potential to grow by USD 990 million during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 9.66%.

This online clothing rental market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by end-user (women, men, and children) and geography (APAC, North America, Europe, South America, and MEA). The online clothing rental market report also offers information on several market vendors, including Armoire Style Inc., Glam Corner Pty Ltd., Gwynnie Bee,  La Reina Gown, Le Tote Inc., Lending Luxury, Mine for Nine LLC, Rent the Runway Inc., Rotaro, and Style Lend Inc. among others. View Free Sample Report

Online Clothing Rental Market: Increasing awareness of sustainability to drive growth

• 41% of the market growth will originate from APAC during the forecast period. South Korea (Republic of Korea), Japan, China, and Australia are the key markets for the online clothing rental market in APAC. Market growth in this region will be slower than the growth of the market in North America. The  increasing awareness of sustainability and improvement in laundry services will facilitate the online clothing rental market growth in APAC over the forecast period.
• The growing demand for renting occasion wear by women is estimated to drive the online clothing rental market for women during the forecast period. The segment is expected to have a significant share of the global online clothing rental market during the forecast period. This is attributed to the fact that women being the larger section of shoppers are looking for variety in their clothing options along with the sustainability.
• The growing trend of sustainability has been impacting industries across the world, including fashion. Sustainability approaches in the fashion industry mostly include the reduced volume of packaging, use of renewable and recyclable materials, and use of fewer production resources such as power, water, and materials.

Online Clothing Rental Market: Key Competitors

The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Armoire Style Inc., Glam Corner Pty Ltd., Gwynnie Bee,  La Reina Gown, Le Tote Inc., Lending Luxury, Mine for Nine LLC, Rent the Runway Inc., Rotaro, and Style Lend Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19 Download a Free Sample Report 

Online Clothing Rental Market: Key Highlights of the Report for 2021-2025

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive Online Clothing Rental Market growth during the next five years
• Precise estimation of the online clothing rental market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the industry across APAC, North America, Europe, South America, and MEA
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of Online clothing rental market vendors