Authored By: Sarah
11 Jul 2024

 Secondhand Apparel Market Size to grow by USD 183.54 billion between 2024-2028

According to a research report “ Secondhand Apparel Market” by End-user (Women, Men, Kids) Type (Traditional thrift stores, donations, Resale) Geography (APAC, North America, Europe, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 183.54 billion, at a CAGR of  14.76% during the forecast period. The secondhand apparel market is experiencing significant growth due to increasing consumer consciousness regarding environmental sustainability. With the rise of awareness about the environmental impact of fast fashion, there is a growing preference for used and secondhand clothing as a more eco-friendly alternative. This trend is driven by individuals who recognize the importance of reducing textile waste and minimizing the carbon footprint associated with the production of new apparel. The textile industry's overall environmental impact is being addressed through various means, including the promotion of secondhand clothing by eco-conscious influencers on social media and the adoption of circular economy concepts by fashion firms that encourage the resale of apparel.

Browse market data tables, figures, and in-depth TOC on “Secondhand Apparel Market” by End-user (Women, Men, Kids) Type (Traditional thrift stores, donations, Resale) Geography (APAC, North America, Europe, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample

 

By End-user, the Women segment is projected to dominate the market size in 2024

The secondhand apparel market experiences significant growth due to the increasing popularity of sustainable fashion practices, with traditional thrift stores and donations playing a pivotal role. These businesses offer pre-owned clothing at economical prices, catering to environmentally conscious consumers. The market landscape is marked by the rising trend of circular fashion, where thrift stores serve as essential components in the circular economy. Donations from individuals ensure a vast and diverse inventory of secondhand apparel for these businesses. The growing awareness of the detrimental effects of fast fashion on the environment boosts the appeal of thrift stores among eco-conscious customers, fostering a culture of reusing and recycling clothing.

By Type, Traditional thrift stores  segment is expected to hold the largest market size for the year 2024

The global secondhand apparel market is witnessing a significant expansion, with men representing the largest consumer demographic. This growth can be attributed to shifting consumer preferences towards sustainable fashion, cost-effective options, and the quest for unique styles. Men are increasingly opting for used and secondhand clothing to promote eco-friendly practices, minimize textile waste, and mitigate the environmental impact of the fashion industry. Platforms such as Poshmark and ThredUp cater to this demand by offering a carefully selected range of pre-owned men's clothing. The resurgence of vintage and thrift apparel signifies a cultural transformation, as consumers prioritize affordability and environmental consciousness in their clothing choices.

APAC is forecasted to hold the largest market size by region in 2024

The secondhand apparel market in Asia Pacific (APAC) is experiencing robust growth, driven by several key factors. Sustainability and circular fashion concepts have gained traction among consumers, leading to a surge in demand for pre-owned apparel. This trend is further fueled by increasing environmental consciousness and a preference for unique, vintage fashion items. Online resale platforms and marketplaces have proliferated, providing buyers with convenient access to a wide array of affordable, pre-used apparel. The growing awareness of the environmental impact of fast fashion is propelling the expansion of the secondhand apparel market in APAC, creating a favorable environment for its continued growth during the forecast period.

The Secondhand Apparel Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Amazon.com Inc.
  • ASOS Plc
  • Bahaal Technologies Pvt Ltd
  • Depop Ltd.
  • eBay Inc.
  • Etsy Inc.
  • Goodwill Industries International
  • Hennes and Mauritz AB
  • leboncoin
  • Patagonia Inc.
  • Poshmark Inc.
  • SHEIN
  • The RealReal Inc.
  • The Salvation Army
  • ThredUp Inc.
  • UNIQLO India Pvt. Ltd.
  • Vestiaire Collective
  • VINTED INC.
  • Wallapop
  • Zalando SE
.

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Research Analysis Overview

The secondhand apparel market is experiencing a surge in demand as consumers seek sustainable fashion solutions amidst the ongoing virus spread and concerns over air pollution. Ozone, a leading player in the market, offers air filtration systems and air ventilators to ensure indoor air quality. With the increasing awareness of the importance of air cleanliness, Ozone's Airflows, Air clean, and Air ventilators have become popular choices. However, the global supply chain disruptions due to the pandemic and the rise in electricity and natural gas prices have affected delivery times. Market players like Hisense, CoolingXpert, and IntelliPro are investing in automation and smart equipment to reduce their carbon footprint and improve product lines through research and development. Key market drivers like policy support for sustainable fashion and the growing popularity of digital resale platforms such as Poshmark and Tradesy are expected to drive the market's growth during the forecast period. Other sales channels like departmental stores, independent small stores, multi-brand stores, hypermarkets/supermarkets, wholesalers/distributors, and online retailers are also contributing to the market's growth. Despite the challenges, the secondhand apparel market is expected to grow significantly due to its environmental benefits and affordability. Additionally, the market's shift towards sustainable production and distribution methods, such as the use of renewable energy and the reduction of greenhouse gas emissions, is a positive sign for the industry's future.

Market Research Overview

The secondhand apparel market is witnessing a significant boost in the 21st century as consumers increasingly embrace the circular economy and seek sustainable fashion options. Unwanted things, such as caps, boots, jeans, clutch purses, monk shoes, jackets, Polo shirts, bracelets, scarves, slippers, sandals, active and beachwear, suits, swimsuits, coats, gems, and various accessories, find new life in this market. Charities and retailers like Arket, Sellpy, Weekday, Monki, COS, Afound, and others are leading the charge, selling pre-owned items alongside new product lines. Key market drivers include the availability of top-quality used apparel at reasonably priced, the latest trends, and the sustainable fashion movement. Online marketplaces like StockX, Mobacotex, eBay Inc, HunTex Recycling Kft, Chikatex, Thrift+, Percentil, Micolet, Vinted, and various digital resale platforms are transforming the industry. The target population includes kids, men, and women, with product types ranging from jeans & pants, coats & jackets, sweaters, shirts & T-shirts, dresses & tops, outerwear, and more. Recycled polyester, fair trade sweaters, sustainable trousers, and recycled components are becoming increasingly popular. Fashion brands, marketplaces, and rental platforms are collaborating with each other and forming business alliances and direct partnerships to expand their reach. The secondhand clothing venture is projected to grow further in the forecast period, driven by consumers' perceptions of nostalgia, craftsmanship, individuality, and environmental consciousness. Millennials and Generation Z are leading the charge towards a circular future, with eCommerce and internet usage playing a crucial role in the industry's growth. The used clothing market is expected to continue its significant expansion, with rental platforms, clothing brands, and eCommerce companies leading the way.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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