Global outlook, share, crucial players, size, competitive distribution and regional forecasts 2016-2026 – Packaging News 24

In terms of value, the global online clothing rental market is expected to grow at a CAGR of 9.8% over the forecast period and is expected to be valued at US $ 1,952.4 million by the end of 2026 .

Increased fashion spending around the world should boost overall market growth

A growing preference for access to designer clothing and constantly evolving fashion statements are fueling the global market for online clothing rental. With a growing emphasis on sharing rather than possession, instant access to items you want to wear without repeating the same attire over and over and an increasing awareness of the positive environmental impacts of the economy. sharing is driving the growth of the online clothing rental market.

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Rising household disposable income, especially in developing countries like China and India, has boosted consumer spending on fashion. This has increased the demand for online rental clothing. In addition, the adoption of mobile devices, especially smartphones and tablets in countries such as China, India, Indonesia, Brazil and other parts of the world, is growing rapidly and is expected to fueling growth in global online clothing rental revenues over the forecast period.

The demographic segments of men and children are expected to have the highest share of income

Among all demographic segments of the global online clothing rental market, revenues for the men and children segment are expected to be the highest, with a CAGR of 10.3% and 10.4% respectively over the 2016- forecast period. 2026. The female segment is expected to remain dominant and is expected to represent a 61.0% share of value over the forecast period. Continued demand for western designer dresses from women around the world is expected to fuel the growth of the online clothing rental market over the forecast period.

The Peer-to-Peer business model segment is expected to contribute to a larger share of the global online clothing rental market

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The peer-to-peer segment is expected to generate comparatively higher revenues compared to other segments of the economic model over the forecast period and is expected to account for around 92.9% of the value share of the overall global market by the end of 2016. The hybrid business model segment is also expected to experience favorable revenue growth in the global online clothing rental market, recording a CAGR of 10.9% over the forecast period. This segment is expected to create an additional US $ 95.0 million opportunity between 2016 and 2026.

The online clothing rental market in North America is expected to record the highest value growth between 2016 and 2026

The North American and APEJ markets are expected to contribute significantly to overall revenue growth in the global online clothing rental market. Growing fashion awareness and increased fashion spending in these regions is expected to fuel the growth of the online clothing rental market over the forecast period. Among all regions, North America is expected to dominate the overall revenue share of the global online clothing rental market and represent 42.3% of the market at the end of 2016.

The North American, Western European and APEJ markets are estimated to collectively hold more than 90% of the global online clothing rental market by the end of 2016. In the top three markets , the women, men and children segments are expected to experience significant growth rates over the forecast period.

Major market players focus on proven business strategies to gain market share

The key companies operating in the global online clothing rental market are Rent the Runway, Poshmark, Elanic Services Pvt Ltd., Dress & Go, GlamCorner Pvt Ltd., Envoged, Etashee, Secoo Holdings Ltd and Secret Worldwide. These companies are adopting strategies such as new product launches, acquisitions and geographic extensions to consolidate their presence in the global online clothing rental market.

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