Second Hand Apparel Market Report 2024 (Global Edition)

Global Second Hand Apparel Market Report 2024 Market Size Split by Type (Dresses & Tops, Shirts & T-shirts, Sweaters, Coats & Jackets, Jeans & Pants, Others), by Sales Channel (Wholesalers/Distributor...

Second Hand Apparel Market Report Description

We have various report editions of Second Hand Apparel Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.

Second Hand Apparel Market Insights Video

Competitive Landscape of the Second Hand Apparel Market

There are many competitors in the very competitive secondhand apparel sector. Manufacturers are meeting the individual wants of consumers by offering state-of-the-art items. Credible businesses are introducing a range of secondhand apparel for use in many professions and industries.

Second Hand Apparel News

• October 2023: Vinted, Europe's premier C2C online marketplace for secondhand fashion, has launched its Item Verification service after months of testing. Members can now have selected items on Vinted worth more than 100 euros certified by Vinted's team of specialists using this service. The introduction is a big step forward in the fight against counterfeiting and increasing trust in the authenticity of designer second-hand merchandise.
• August 2022: Tommy Hilfiger, a subsidiary of PVH Corp., and thredUP, one of the largest online resale platforms for women's and children's apparel, shoes, and accessories, are pleased to announce their collaboration and the launch of the new 360-resale program, which will allow U.S.-based consumers to clean out their closets and shop secondhand. The program is made possible by thredUP's Resale-as-a-Service (RaaS), which provides scalable, customizable resale experiences on behalf of some of the world's most recognizable brands and merchants.

Top Companies Market Share in Second Hand Apparel Industry: (In no particular order of Rank)

• Thredup Inc.
• The RealReal
• Poshmark
• Vinted
• Micolet
• Percentilma
• Thrift+
• Chikatex
• HunTex Recycling Kft
• EBay Inc.
• British Used Clothing Company
• A&E Used Clothing Wholesale
• Mobacotex
• Tradesy
• StockX
• Others
• Confidential Data
• Access The Paid Version
• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

In terms of revenue, the Asia Pacific Second Hand Apparel Market share was 35% of the total market

According to Cognitive Market Research, Asia Pacific dominated the market in 2023 and accounted for a share of more than 35% of the global revenue. Due to consumers' growing taste for designer clothing for a variety of occasions, there is a surge in the market for secondhand apparel, which creates a significant demand for international secondhand clothing stores. As a result, it is anticipated that the entry of international consignment stores into the region will spur industry growth. Multinational labels are expected to feel more confident to expand in the region due to increased demand from customers who have been exposed to their brands through social media. The trend is expected to continue throughout the forecast period, much like how the region's growing demand for special event attire is substantially boosting sales growth. In Asia, special occasion wear is highly sought after. Asians are quite meticulous about their traditional attire.

Throughout the projected period, the North American market is anticipated to post a very high revenue CAGR of 14.0%. The increasing number of ethical consumers is one of the key factors driving growth in the US market for secondhand apparel.  Some of the main reasons propelling growth in the secondhand apparel market include the growing number of conscientious consumers, the increasing prevalence of online marketplaces where people can buy and sell pre-owned goods, including clothing, and the strong presence of top providers of pre-owned clothing. Vintage clothing is one strategy to solve the labor and environmental issues associated with the secondhand apparel industry in a time of fast fashion and outsourcing. The idea that design trends resurface after a long hiatus and that vintage clothing has more character than contemporary clothing is what gave rise to the vintage fashion clothing trend.

The current report Scope analyzes Second Hand Apparel Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Second Hand Apparel Market

North America Second Hand Apparel Market Analysis:

North America acquired the second-highest market share in 2023 and contributed more than 30.00% of global revenue, according to Cognitive Market Research. One of the main reasons propelling growth in the American market for secondhand apparel is the rise in the number of ethical buyers.  The growing number of ethical consumers, the rise in popularity of online marketplaces where people can buy and sell pre-owned goods, including clothing, and the dominance of leading suppliers of pre-owned clothing are some of the key factors driving growth in the secondhand apparel market. Due to the presence of well-known international companies and their ongoing creativity in creating stylish denim collections to suit changing consumer preferences for colored denim trousers, the market in the area is expanding. Thus, the growing online sales of secondhand apparel coupled with rising consumer preference boosts the regional market growth.

Europe Second Hand Apparel Market

Europe Second Hand ApparelMarket Analysis:

The European market acquired a significant market share of 25% by growing at a  CAGR of 14.3% throughout the projection period. The secondhand apparel market in Europe is a sizable and varied sector that includes a broad range of clothes and fashion-related goods. It covers everything from high-end designer labels to mass-market quick fashion. Sustainability is becoming a major factor driving the market for secondhand apparel. Secondhand clothes are becoming more and more popular among consumers who are trying to lessen their environmental impact. Purchasing secondhand apparel increases the useful life of clothing and lowers the demand for new manufacturing. The e-commerce secondhand apparel sector is going through significant changes in the region as a result of expanding globalization, technical advancements, and modifications in consumer purchasing habits. The main reasons propelling e-commerce sales in the garment sector are the expanding secondhand apparel business and the impact of fashion trends.

Asia Pacific Second Hand Apparel Market

Asia Pacific Second Hand Apparel Market Analysis:

The Asia Pacific market is expected to lead the market by acquiring 35% of the global market in the projected timeframe by contributing USD 53.38 billion to the global market. The market for secondhand apparel is expanding as a result of consumers' increased preference for designer apparel for a range of situations, which generates a large demand for worldwide secondhand apparel retailers. Therefore, it is projected that the arrival of foreign consignment stores in the area will promote industry expansion. The pattern is anticipated to persist for the duration of the projected period, in a similar manner to how the region's expanding need for clothing for special occasions is significantly driving up sales growth. The use of biodegradable shirts and changes in lifestyle are driving growth in the demand for shirts and t-shirts market. As a result, the increased demand for designer clothes is maintaining regional dominance

South America Second Hand Apparel Market

South America Second Hand Apparel Market Analysis:

According to Cognitive Market Research, Latin America acquired a significant market in 2023 of 6.00% of the global revenue. Due to a number of causes, such as global trends, sustainability concerns, and economic considerations, the market for secondhand apparel in Latin America has been expanding and changing. Due to financial hardships, many people in Latin America find used clothing to be an appealing option. Used clothing is a sensible option for individuals and families on a budget because it is frequently less expensive than new products. Online marketplaces and conventional thrift stores coexist in Latin America's secondhand apparel industry. The increased demand for used clothing is met by local platforms and internet marketplaces such as MercadoLibre, in addition to the ubiquitous thrift stores and flea markets. Therefore, the growing financial tension in the region coupled with rising thrift stores propels the market’s growth.

Middle East and Africa Second Hand Apparel Market

Middle East and Africa Second Hand Apparel Market Analysis:

The Middle East and Africa acquired considerable market share in 2023, accounting for a share of over 4.00% of worldwide revenue, according to Cognitive Market Research. Cultural events, individualized presents, and corporate branding are some of the drivers driving this sector. Secondhand clothes are commonly accessible in local marketplaces and unofficial trade over most of the Middle East and Africa. Used clothing is frequently imported from Western nations and offered for sale in tiny stores or outdoor marketplaces. In the MEA area, a few ethical and ecological fashion labels are starting to gain popularity. These companies prioritize ethical manufacturing practices and may employ repurposed or recycled materials. Online platforms are becoming more popular throughout the Middle East and Africa due to the growth of e-commerce. These marketplaces offer a practical means of conducting business between buyers and sellers of secondhand apparel. Thus, the growing Western influence in the region fostered market expansion.

Second Hand Apparel Market Analysis

Second Hand Apparel Type Segment Analysis

According to Cognitive Market Research, dresses & tops are the product type that is utilized the most frequently in the market for secondhand apparel. This can be linked to the growing global trend of used tops and dresses, particularly among women. The global market for secondhand apparel is anticipated to expand in the near future due to shifting consumer preferences, which will result in a big demand for dresses and tops among women. Customers are putting increased pressure on clothing makers to uphold their commitment to sustainability as they grow more aware of the impact that the industry has on the environment.

Jeans & pants are the second-most used product type. Global economic growth and ongoing product innovation are predicted to drive jeans sales. Jeans styles that are available include bell bottoms, boot cuts, high rises, cropped, slim, tapered, and regular fits. These elements are predicted to raise the demand for jeans.

• Dresses & Tops
• Shirts & T-shirts
• Sweaters, Coats & Jackets
• Jeans & Pants
• Others

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Second Hand Apparel Industry. Request a Free Sample PDF!

Second Hand Apparel Sales Channel Segment Analysis

Online retailers are the secondhand apparel market's most popular channel. It is anticipated that internet merchants will quickly transform the secondhand apparel market's sales. This can be attributed to the growth of e-commerce platforms and the trend of buying used clothing online in order to cut expenses and save time. In an effort to expand their customer base and enhance sales, businesses specializing in secondhand apparel are thinking about moving their focus from physical thrift stores to online marketplaces.

According to Cognitive Market Research, multi-brand stores are the second-most popular channel. Customers can browse for a variety of fashion selections in one convenient location at multi-brand apparel stores. These shops serve a broad spectrum of customer tastes by providing a varied assortment of clothing, accessories, shoes, and occasionally even other lifestyle products.

• Wholesalers/Distributors
• Hypermarkets/Supermarkets
• Multi-brand Stores
• Independent Small Stores
• Departmental Stores
• Online Retailers
• Other Sales Channel

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Second Hand Apparel Sector Segment Analysis

The resale sector is the secondhand apparel market's most popular category. A number of factors have contributed to the rise in popularity of resale clothing in recent years, including affordability, sustainability, and the demand for antique or one-of-a-kind clothing.  Purchasing used clothing is thought to be more environmentally beneficial than buying new apparel. It lessens the need for the manufacture of new clothes, which can use a lot of resources and pollute the environment.

According to Cognitive Market Research, traditional thrift stores & donations are the second-most popular sector. Retail facilities known as traditional thrift stores offer pre-owned or used apparel, accessories, home products, and other commodities. They are frequently connected to charity or charitable organizations and have a big impact on the resale market.  As more individuals become aware of the advantages of secondhand shopping and its favorable effects on the environment and society, their involvement has grown.

• Resale
• Traditional Thrift Stores & Donations

Second Hand Apparel Target Population Segment Analysis

According to Cognitive Market Research, women's secondhand apparel is the most extensively used product in the secondhand apparel market. The market is seeing a growth in demand for high-end women's clothing, including Indo-Western clothing, jogging jeans, and formal and casual ensembles that come in creative patterns and current styles. This is one of the main things supporting the global market expansion, along with people's growing awareness of their physical appearance.

Men's secondhand apparel ranks second in usage. The sector’s expansion might be ascribed to millennial men's growing awareness of fashion. Because the macho segment of society has the power to demand higher costs, designers have increased their attention to this market segment.

• Men
• Women
• Kids

Author's Detail

Swasti Dharmadhikari

Research associate at Cognitive Market Research

LinkedIn

Profile

Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.

Author's Conclusion