Technavio, a leading provider of market research reports, has released its latest study on Secondhand Apparel Market. This report offers a comprehensive analysis of the current market trends, emerging opportunities, and key challenges.
According to Technavio, the global secondhand apparel market is a segment of the expansive textiles, apparel, and luxury goods market. This parent market encompasses businesses involved in the manufacturing, marketing, and rental services of textiles, apparel, accessories, and luxury goods, excluding footwear manufacturers. The market's growth is driven by several factors, including the increasing working women population worldwide, which boosts disposable income and enhances consumer spending on apparel, accessories, and luxury goods. - The Secondhand Apparel Market is experiencing significant growth, fueled by the Sustainability and ethical practices. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Know what is trending in the market - Access a free sample report!
The market size is estimated to grow by USD 183.54 billion, at a CAGR of 14.76% during the forecast period. Rise of resale platforms for used clothes | Emergence of clothing rental and subscription services | Expanding retail apparel industry
For insights on company offerings- Request a sample report!
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 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.
Technavio is a global market research company offering comprehensive reports and insights on various industries. Our research helps businesses make informed decisions by providing actionable data and trends. Technavio is based on four simple principles: easy-to-access reports, robust industry coverage, a focus on new and emerging technologies, and competitive pricing. We believe in helping companies and executives become better equipped to make faster, sounder, and more effective decisions. Technavio is one of the most influential market research and advisory firms in the world. We work with business and technology leaders to provide cutting-edge market research and insights to companies.
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/
Safe and Secure SSL Encrypted
One user only.
Quick & easy download option
Unlimited user access (Within your organization).
Complimentary Customization Included
*For Enterprise license, go to checkout page
Get the report (PDF) sent to your email within minutes.
