Global Second-Hand Apparel Market is valued approximately at USD 71.22 billion in 2022 and is anticipated to grow with a compounded annual growth rate of more than 14.8% over the forecast period 2023-2030. Second-hand apparel includes used clothing, shoes, accessories, and other fashion items. Buying second-hand apparel is a popular way to reduce waste, save money, and support sustainability by giving new life to pre-owned garments. It is a common practice in thrift stores, online marketplaces, and through clothing swaps or donations. Growing e-commerce market and growing demand for second-hand apparel anticipated to fuel the market growth during the forecast period.
According to India Brand Equity Foundation (IBEF) in 2023, the market has already experienced a substantial 21.5% growth, reaching USD 74.8 billion in 2022 and it is expected that the market may witness significant growth, with a value of approximately USD 350 billion by 2030, According to the World Economic Forum in 2021, the second-hand apparel market reached a value of USD 39.23 billion. Simultaneously, the counterfeit industry was expected to reach a staggering USD 4.2 trillion by the end of 2022, primarily fueled by the illicit trade of counterfeit clothing. According to Organization for Economic Co-operation and Development (OECD) in 2019. The trade of counterfeit and pirated goods has shown a consistent increase in recent years, despite stagnant overall trade volumes, it accounts for 3.3% of global trade. Following closely behind are counterfeit cosmetics and personal care products, watches and jewelry, as well as handbags and luggage. However, growing concern towards counterfeit products and rapidly changing customer's preferences may hamper the market growth. Moreover, increasing demand for branded products and availability of second-hand branded products come out as the growth opportunities of this market.
The key regions considered for the Global Second-Hand Apparel Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Middle East & Africa region dominated the market because of the rising demand of second-hand apparel owing to the low disposable income in the region and adaptation of second-hand apparel in rural areas in this region. Europe is expected to be the fastest growing region due to the rising trends of thrift culture and accessibility of second-hand markets in this region.
Major market player included in this report are:
- Thredup Inc.
- The RealReal Inc.
- Poshmark Inc.
- Vinted Limited
- Micolet
- Ebay Inc.
- A&E Clothing Corporation
- Chikatex SL Co. Ltd.
- StockX LLC
- British Used Clothing Company
Recent Developments in the Market:
- In February 2022, H&M introduced a fresh second-hand apparel initiative in Sweden, its home market, during 2022. This offering encompasses not only second-hand clothing from H&M Group brands but also includes garments from external brands like ASOS, Nike, and Zara.
- In October 2019, Farfetch and Thrift+ collaborated to enable customers to donate their unwanted items to charities in exchange for store credit. Thrift+ operates as an online platform for selling secondhand clothing and donates a portion of the sales revenue to one of the 160,000 registered charities in the UK. Thrift+ is also a participant in Farfetch's technology accelerator program, Dream Assembly.
Global Second-Hand Apparel Market Report Scope:
- Historical Data: 2020 - 2021
- Base Year for Estimation: 2022
- Forecast period: 2023-2030
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Product, Sector, Target Population, Distribution Channel, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
By Product:
- Dresses & Tops
- Shirts & T-shirts
- Sweaters, Coats & Jackets
- Jeans & Pants
- Other
By Sector:
- Resale
- Traditional Thrift Stores & Donation
By target Population:
By Distribution Channel:
- Wholesalers/Distributors
- Hypermarkets/Supermarkets
- Multi-Brand Stores
- Independent Small Stores
- Departmental Stores
- Online Retailers
- Other
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Second-Hand Apparel Market, by region, 2020-2030 (USD Billion)
- 1.2.2. Second-Hand Apparel Market, by Product, 2020-2030 (USD Billion)
- 1.2.3. Second-Hand Apparel Market, by Sector, 2020-2030 (USD Billion)
- 1.2.4. Second-Hand Apparel Market, by Target Population, 2020-2030 (USD Billion)
- 1.2.5. Second-Hand Apparel Market, by Distribution Channel, 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Second-Hand Apparel Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Second-Hand Apparel Market Dynamics
- 3.1. Second-Hand Apparel Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Growing E-Commerce industry
- 3.1.1.2. Growing demand for second-hand apparel
- 3.1.2. Market Challenges
- 3.1.2.1. Growing Concern for Counterfeit Products
- 3.1.2.2. Rapidly Changing Customer's Preferences
- 3.1.3. Market Opportunities
- 3.1.3.1. Increasing Demand for Branded Products
- 3.1.3.2. Availability of Second-Hand Products
Chapter 4. Global Second-Hand Apparel Market: Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economic
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Second-Hand Apparel Market, by Product
- 5.1. Market Snapshot
- 5.2. Global Second-Hand Apparel Market by Product, Performance - Potential Analysis
- 5.3. Global Second-Hand Apparel Market Estimates & Forecasts by Product 2020-2030 (USD Billion)
- 5.4. Second-Hand Apparel Market, Sub Segment Analysis
- 5.4.1. Dresses & Tops
- 5.4.2. Shirts & T-shirts
- 5.4.3. Sweaters, Coats & jackets
- 5.4.4. Jeans & Pants
- 5.4.5. Other
Chapter 6. Global Second-Hand Apparel Market, by Sector
- 6.1. Market Snapshot
- 6.2. Global Second-Hand Apparel Market by Sector, Performance - Potential Analysis
- 6.3. Global Second-Hand Apparel Market Estimates & Forecasts by Sector 2020-2030 (USD Billion)
- 6.4. Second-Hand Apparel Market, Sub Segment Analysis
- 6.4.1. Resale
- 6.4.2. Traditional Thrift Stores & Donation
Chapter 7. Global Second-Hand Apparel Market, by Target Population
- 7.1. Market Snapshot
- 7.2. Global Second-Hand Apparel Market by Target Population, Performance - Potential Analysis
- 7.3. Global Second-Hand Apparel Market Estimates & Forecasts by Target Population 2020-2030 (USD Billion)
- 7.4. Second-Hand Apparel Market, Sub Segment Analysis
- 7.4.1. Men
- 7.4.2. Women
- 7.4.3. Kids
Chapter 8. Global Second-Hand Apparel Market, by Distribution Channel
- 8.1. Market Snapshot
- 8.2. Global Second-Hand Apparel Market by Distribution Channel, Performance - Potential Analysis
- 8.3. Global Second-Hand Apparel Market Estimates & Forecasts by Distribution Channel 2020-2030 (USD Billion)
- 8.4. Second-Hand Apparel Market, Sub Segment Analysis
- 8.4.1. Wholesalers/ Distributors
- 8.4.2. Hypermarkets/Supermarkets
- 8.4.3. Multi-Brands Stores
- 8.4.4. Independent Small Stores
- 8.4.5. Online Retailers
- 8.4.6. Other
Chapter 9. Global Second-Hand Apparel Market, Regional Analysis
- 9.1. Top Leading Countries
- 9.2. Top Emerging Countries
- 9.3. Second-Hand Apparel Market, Regional Market Snapshot
- 9.4. North America Second-Hand Apparel Market
- 9.4.1. U.S. Second-Hand Apparel Market
- 9.4.1.1. Product breakdown estimates & forecasts, 2020-2030
- 9.4.1.2. Sector breakdown estimates & forecasts, 2020-2030
- 9.4.1.3. Target Population breakdown estimates & forecasts, 2020-2030
- 9.4.1.4. Distribution Channel breakdown estimates & forecasts, 2020-2030
- 9.4.2. Canada Second-Hand Apparel Market
- 9.5. Europe Second-Hand Apparel Market Snapshot
- 9.5.1. U.K. Second-Hand Apparel Market
- 9.5.2. Germany Second-Hand Apparel Market
- 9.5.3. France Second-Hand Apparel Market
- 9.5.4. Spain Second-Hand Apparel Market
- 9.5.5. Italy Second-Hand Apparel Market
- 9.5.6. Rest of Europe Second-Hand Apparel Market
- 9.6. Asia-Pacific Second-Hand Apparel Market Snapshot
- 9.6.1. China Second-Hand Apparel Market
- 9.6.2. India Second-Hand Apparel Market
- 9.6.3. Japan Second-Hand Apparel Market
- 9.6.4. Australia Second-Hand Apparel Market
- 9.6.5. South Korea Second-Hand Apparel Market
- 9.6.6. Rest of Asia Pacific Second-Hand Apparel Market
- 9.7. Latin America Second-Hand Apparel Market Snapshot
- 9.7.1. Brazil Second-Hand Apparel Market
- 9.7.2. Mexico Second-Hand Apparel Market
- 9.8. Middle East & Africa Second-Hand Apparel Market
- 9.8.1. Saudi Arabia Second-Hand Apparel Market
- 9.8.2. South Africa Second-Hand Apparel Market
- 9.8.3. Rest of Middle East & Africa Second-Hand Apparel Market
Chapter 10. Competitive Intelligence
- 10.1. Key Company SWOT Analysis
- 10.1.1. Company 1
- 10.1.2. Company 2
- 10.1.3. Company 3
- 10.2. Top Market Strategies
- 10.3. Company Profiles
- 10.3.1. Thredup Inc.
- 10.3.1.1. Key Information
- 10.3.1.2. Overview
- 10.3.1.3. Financial (Subject to Data Availability)
- 10.3.1.4. Product Summary
- 10.3.1.5. Recent Developments
- 10.3.2. The RealReal Inc.
- 10.3.3. Poshmark Inc.
- 10.3.4. Vinted Limited
- 10.3.5. Micolet
- 10.3.6. Ebay Inc.
- 10.3.7. A&E Clothing Corporation
- 10.3.8. Chikatex SL Co. Ltd.
- 10.3.9. StockX LLC
- 10.3.10. British Used Clothing Company
Chapter 11. Research Process
- 11.1. Research Process
- 11.1.1. Data Mining
- 11.1.2. Analysis
- 11.1.3. Market Estimation
- 11.1.4. Validation
- 11.1.5. Publishing
- 11.2. Research Attributes
- 11.3. Research Assumption