Secondhand Apparel Market – Global

Secondhand Apparel market - Innovius Research

18-08-2023
By Yena Paul
Market Report

Secondhand Apparel Market – Global

Secondhand apparel is gaining popularity as a desirable style option in today’s ever-expanding fashion market.

Additionally, the expansion of the fashion industry is causing a shift in how apparel is used, with secondhand apparel increasingly taking up space on various platforms.

Overview of the Secondhand Apparel Market

Global Secondhand Apparel Market study- infographic - Innovius Research

Secondhand Apparel Market Size And Potential Growth

In 2022, the Global Secondhand Apparel market was valued at $177 billion and is expected to reach $211 billion by the end of 2023.

The Global Secondhand Apparel market will grow and reach $351 billion by 2027. The market is expected to grow at an approximate CAGR of 13.57% during the forecast period.

Global Secondhand Apparel Market Size During 2022-2027 ($Billion) - Innovius Research — ***Global Secondhand Apparel Market Size During 2022-2027 ($Billion)***

The secondhand apparel market is growing among the general public because it is cheaper and of higher quality. Younger customers are responsible for much of the expansion that has taken place in the secondhand apparel sector.

Response of Consumers Buying from Online Second-hand Clothing

Top Global Companies

Secondhand Apparel Market – Dynamics & Statistics

Drivers

➟ Rising penetration of online shopping platforms

➟ Emergence of Startups in the Market

➟ Awareness about the Environmental Benefits of Secondhand Apparel

Challenges

➟ No Quality Control

➟ Stigma about Wearing Secondhand Clothing

United States Secondhand Apparel Market Size And Potential Growth

In 2022, the US Secondhand Apparel market was valued at $39 billion. The market is expected to reach $70 billion by 2026, growing at an approximate CAGR of 12.41%.