The global secondhand apparel market is on track to experience exceptional growth over the next decade. With a projected market value of USD 43.49 billion in 2024, the industry is set to expand at a compound annual growth rate (CAGR) of 11.1%, reaching USD 125.18 billion by 2034. This surge in demand for pre-owned clothing is largely driven by growing consumer awareness of the environmental and financial benefits of secondhand shopping, as well as a shift toward more sustainable and value-driven fashion choices.
The Driving Forces Behind Market Growth
Several factors are contributing to the robust growth of the secondhand apparel market. Chief among them are:
- Environmental Consciousness: As concerns over fast fashion’s environmental impact intensify, more consumers are opting for secondhand clothing as a sustainable alternative. By purchasing pre-owned garments, consumers help reduce waste, conserve resources, and lower their carbon footprint.
- Affordability: The cost-effectiveness of secondhand apparel makes it a popular choice, particularly for younger generations like Gen Z and Millennials, who prioritize sustainability without compromising on style. With access to high-quality garments, including luxury brands, at a fraction of the original price, these consumers are embracing thrift shopping as a viable and attractive option.
- Fashion-Forward Vintage Trends: Vintage clothing, particularly retro and nostalgic styles, has become increasingly fashionable. Consumers seeking unique, one-of-a-kind pieces are flocking to secondhand markets, valuing individuality and craftsmanship over mass-produced items.
- Expansion of Online Platforms: The growth of eCommerce platforms dedicated to secondhand apparel has made buying and selling used clothing more convenient. Consumers now have access to a vast selection of pre-owned clothing online, supported by AI and AR technologies for virtual try-ons and personalized recommendations.
Regional Insights
- United States: The U.S. secondhand apparel market is projected to grow at a modest 2.6% CAGR, driven by the rise of quick fashion and online resale platforms.
- United Kingdom: The U.K. market is set to expand at 9.3% CAGR, fueled by strong demand for vintage clothing and the influence of fashion influencers.
- China: In China, the secondhand apparel market is expected to grow at a 4.8% CAGR, driven by the rising desire for designer clothing and the expansion of international secondhand stores.
- India: India’s secondhand apparel market is forecast to grow at an impressive 14.0% CAGR, boosted by demand for special event and vintage-inspired clothing.
- Japan: The Japanese market is anticipated to grow at 7.6% CAGR, fueled by the influence of anime culture and the increasing demand for cosplay-inspired and retro fashion.
Key Product and Consumer Segments
- Women’s Fashion Dominates the Market: Women represent 49.4% of the target demographic for secondhand clothing, with a particularly strong demand for secondhand dresses and tops, which hold a 33.0% market share in 2024. This growth is driven by the increasing preference among women for sustainable, affordable fashion options.
- Emerging Business Models: Start-ups and established brands are leveraging new business models, such as clothing rental services and subscription-based secondhand apparel markets, to capitalize on changing consumer preferences.
Key Companies in the Secondhand Apparel Market
- Thredup Inc.
- The RealReal
- Poshmark
- Vinted
- Micolet
- Percentil.ma
- Thrift+
- Chikatex
- HunTex Recycling Kft
- EBay Inc.
- British Used Clothing Company
- A&E Used Clothing Wholesale
- Mobacotex
- Tradesy
- StockX
Recent Developments
- In January 2024, United Kingdom-based fashion brand HERA launched an integrated platform for secondhand clothing resale, promoting the quality and longevity of its products as part of its circularity journey rather than relying on pre-existing reselling sites.
- In December 2023, Zara expanded its ‘Pre-Owned’ service to sell, repair, or donate second-hand clothes in several European countries, including the United Kingdom, France, Finland, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Croatia, Slovakia, Slovenia, Germany, Austria, Belgium, and Spain, as the market for used apparel grows.
- In October 2023, H&M, the Swedish apparel retailer, is set to launch a new collection called “Pre-Loved” at its flagship London store. This collection is expected to feature secondhand women’s clothing. The move comes as H&M and other fast-fashion brands aim to enhance their sustainability practices.
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Key Segments
By Product Type:
- Dresses and Tops
- Shirts and T-shirts
- Sweaters, Coats and Jackets
- Jeans and Pants
- Others
By Sector:
- Resale
- Traditional Thrift Stores & Donations
By Target Population:
- Men
- Women
- Kids
By Sales Channel:
- Wholesalers or Distributors
- Hypermarkets or Supermarkets
- Multi-brand Stores
- Independent Small Stores
- Departmental Stores
- Online Retailers
- Other Sales Channel
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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