The global online clothing rental market is estimated to be valued at ~US$ 2,007.3 Mn in 2022 and is projected to reach ~US$ 4,828.3 Million by 2032, with overall demand growing at a robust CAGR of ~9.2% from 2022 to 2032.

In a recent analysis, Future Market Insights (FMI) predicted that the online clothes rental market will increase strongly between 2021 and 2031. By 2021, the market is anticipated to generate US$ 1.8 billion. The Online Wardrobe Rental industry is starting to adopt a new trend: the subscription model. It appeals to retailers who are pressed to adapt to changing consumer preferences before certain designs fall out of favour.

Despite declining garment sales, the clothing rental industry is expanding its assortments under subscription model plans to reach its customers. In addition to giving potential customers knowledge about clothing rental businesses, the subscription model generates recurring money.

But, retailers could be able to sidestep the expenses associated with conventional brick-and-mortar enterprises. The market for Sustainable Clothing Rental and subscriptions also provides designers with immediate access to consumer preferences. The online clothing rental subscription industry is also broadening its consumer base by needing specialty/niche markets. Several of them are employing novel strategies to get traction. For instance, Gwynnie Bee offers plus-size consumers rental clothing, in contrast to other online fashion rental businesses.

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In the meanwhile, Union Station wants to do away with the hassle of purchasing bridesmaid dresses, which are frequently expensive and chosen based on the lady, not the wearer taste,’s and style. The company allows women to pick out the dresses for their bridesmaids, which can then be returned after being dry-cleaned.

Therefore, online garment rental aims to reduce clients’ spending on new apparel for any special occasion or purpose.

Key Takeaways from the Online Clothing Rental Market Study

FMI in its latest study has forecast the market to rise at a CAGR of ~11.0% between 2021 and 2031

The U.S. has emerged as a highly lucrative market, accounting for nearly 95% of the North America market

The U.K. is projected to register 11.8% Y-o-Y growth in 2021, performing exceedingly well within the Europe market

Germany and France will continue exhibiting high demand for online clothing rental

Within East Asia, the demand for China and South Korea is expected to be higher than Japan

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COVID-19 Causing Disruptions in Online Clothing Rental

Online garment rental was slated for sustainability before the COVID-19, but the pandemic has created substantial delays as occasions like weddings, social gatherings, and other festivities had to be postponed due to the implementation of lockdown in numerous countries around the world.

Rental demand fell, according to businesses like Rotaro, Rent the Runway, and others. Since the majority of online garment rental businesses depend on events, the pandemic period saw a significant impact on the industry when there were no events and few people going out.

Who is winning

Rent the Runway, Rotaro, GlamCorner Pty Ltd., Gwynnie Bee Company, Mine for Nine LLC, Dress Hire AU, ThreadTread, Nuuly, Rent The Front Row LLC, Dress Go Company, Chic by Choice Company, Style Lend Company, Rent It Bae Company, Mr. Ms. Collection, The Secret Wardrope, Banana Republic LLC, Le Tote Company, and Lending Luxury are some of the major players in the online clothing rental

In September 2020, to meet the changing preference/needs of today’s shoppers Rent the Runway implements new clothing subscription model plans which include dry cleaning and rental coverage, free shipping and returns, and members-only discounts. Further, the company is also using sustainable strategies to improve the environment by using recyclable garment bags.

In 2019, the Gap Inc. owned company Banana Republic LLC had partnered with CaaStle and launched ‘style passport’ an online rental subscription for women. This would help the company to connect with millennials and Gen Zs who would to experience fashion in a sustainable manner.

Get Valuable Insights into Online Clothing Rental Market

Future Industry Insights’ latest product, which presents historical demand data (from 2016 to 2020) and projected information for the years 2021 to 2031, offers an unbiased analysis of the global online clothing rental market. The study provides compelling insights on the online clothing rental market based on end-user (business-to-business, business-to-consumer, and consumer-to-consumer, or B2B), product type (knitwear, trousers jeans, jumpsuits, suits blazers, coats jackets, skirts shorts, and ethnic wear), business model (standalone model, and subscription model), end-user (business-to-business).

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