Second-Hand Clothing Market to surpass $27.5 Billion by 2030, growing at a CAGR of 12.4%: Exactitude Consultancy

LUTON, BEDFORDSHIRE, UNITED KINGDOM, December 8, 2023 /EINPresswire.com/ -- The “Second-Hand Clothing “Market Research analysis presents estimations of growth, size, and projections for each market segment, accompanied by trends and forecasts based on revenue (in USD million)

Trends in the fashion business change often these days, and celebrities and influencers encourage others to dress in contemporary apparel. However, not everyone can afford to buy high-end goods from a retail store. As a result, they choose to buy used apparel, which is projected to lessen the need for rapid fashion. Furthermore, the demand for formal attire among women worldwide is increasing rapidly as a result of the significant expansion in the working women’s labor efforts. This element is projected to have a significant impact on the growth of the global secondhand clothes industry in the coming years. Businesses are always creating new techniques to retain the attention of millennials, who are expected to take charge in the coming years.

The global second-hand clothing market size is expected to grow at 12.4% CAGR from 2023 to 2030. It is expected to reach above USD 27.5 billion by 2030 from USD 8.6 Billion in 2022.

Top companies covered in this report: ThredUP, Poshmark, The RealReal, Tradesy, Buffalo Exchange, eBay, Mercari, Alibaba Group.

Industry News:

In 2020, Tradesy, a designer reseller, acquired Fitz, a styling service, in order to compete with The RealReal. Fitz has been renamed Tradesy Closet Designer, a new menu item that allows sellers to engage a skilled stylist to manage the selling process as well as organise their closet.

In 2019, Farfetch teamed up with Thrift+, a secondhand clothes platform, to allow shoppers to give unwanted things to charities in exchange for store credit. Thrift+ is an online store that sells used clothing and contributes a portion of the proceeds to one of the UK's 160,000 registered charities. It is a participant in Farfetch's technology accelerator program Dream Assembly.

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Second-Hand Clothing Market Segmentation:

Second-Hand Clothing Market By Type, 2023-2029, (USD Million)

Thrift Stores

Resale Platforms

Second-Hand Clothing Market By Application, 2023-2029, (USD Million)

Men’s Clothing

Women’s Clothing

Kids Clothing

Regional Outlook:

The report’s primary insights into various regions and the major companies involved in each one are provided in this section. When evaluating a region’s or country’s growth, economic, social, environmental, technological, and political issues have all been taken into account. Additionally, each country’s and region’s revenue and sales information for the years 2018 through 2029 will be made available to readers.

The market has been divided into four key regions: North America, Europe, Asia-Pacific, and South America. The regional part will include a thorough analysis of important nations like the United States, Germany, the United Kingdom, Italy, France, China, Japan, South Korea, Southeast Asia, and India.

India is one of the fast-growing secondhand apparel markets and holds a significant share of 18.2% of the entire South Asia secondhand apparel market. Furthermore, FMI predicts the India secondhand apparel market growth to surge at a CAGR of 17.9% during the forecast period, owing to the rapidly growing population, increasing disposable income, and surge in the number of startups offering secondhand clothes.

Important Features of the reports:

- Detailed analysis of the Second-Hand Clothing market

- Fluctuating market dynamics of the industry

- Detailed market segmentation

- Historical, current and projected market size in terms of volume and value

- Recent industry trends and developments

- Competitive landscape of the Second-Hand Clothing Market

- Strategies of key players and product offerings

- Potential and niche segments/regions exhibiting promising growth

- A neutral perspective towards Second-Hand Clothing market performance.

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The report provides insights on the following pointers:

Market Penetration: Comprehensive information on the product portfolios of the top players in the Second-Hand Clothing market.

Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market.

Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market.

Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies.

Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Second-Hand Clothing market

How big will the market and growth rate be in 2029?

What are the key drivers for the global Second-Hand Clothing market?

What are the major market trends influencing the growth of the global Second-Hand Clothing Market?

What are the challenges for market growth?

Who are the key vendors in the global Second-Hand Clothing market?

What market opportunities and threats are vendors facing in the global Second-Hand Clothing market?

What are the main findings of the five forces analysis of the global Second-Hand Clothing Market?

Conclusion: At the end of the Second-Hand Clothing Market report, all findings and estimates are presented. It also includes key drivers and opportunities and regional analysis. The Segmental analysis is also provided in terms of type and application.

Customization of the report: The report can be customized according to the client’s requirements. Get in touch with our sales experts and we’ll make sure you get a report that fits your needs.

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