The global demand for secondhand clothes is projected to grow at an impressive CAGR of 14.8% during the forecast period (2022-2032), in comparison to 7.1% CAGR registered from 2017 to 2021. This will further bolster market growth over the next ten years.Ģ017-2021 Global Secondhand Apparel Market Outlook Compared To 2022-2032 Forecast New start-ups are also entering this space to take advantages of the emerging opportunities.
Similarly, leading companies are moving towards online sales platforms to expand their customer base and increase their sales. As a result, there has been a sharp rise in the sales of second apparel during the last few years and the trend is likely to continue during the forecast period. People have become aware about the environmental benefits of using secondhand clothes over new ones. As a result, better attire, fashion accessories, and other items are chosen to boost self-esteem, and, in turn, the preference of customers for a variety of apparel is increasing. Second-hand apparel is becoming a trending fashion in the ever-growing fashion market, and the expanding fashion industry is altering the use of apparel with second-hand apparel taking up multiple platforms.Ĭustomers' perspectives on good looks have all changed as a result of the journey of establishing oneself. Share of secondhand apparel market in its parent market (secondhand product market) is around 12%-15%.Įstimated Secondhand Apparel Market Size (2022) Growing popularity of secondhand apparel among general masses due to their less expensive nature and better quality is a key factor driving demand for secondhand apparel in the market. The global second-hand apparel market is estimated at US$ 71,225.6 million in 2022 and is projected to expand at a prolific CAGR of 14.8% from 2022 to 2032, reaching a valuation of US$ 282,748.6 million by 2032. Secondhand Apparel Market Outlook (2022-2032)
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