Second-Hand Fashion Market - By Product Type (Clothing, Accessories), By Price Range (Low, Medium, High), By Consumer Group (Men, Women, Kids), By Distribution Channel (Online, Offline), Forecast 2024 - 2032

Second-Hand Fashion Market Size

Second-Hand Fashion Market size was valued at around USD 70.8 billion in 2023 and is estimated to register a CAGR of around 7.6% between 2024 & 2032. Due to its ability to prolong the life cycle of garments, decrease textile waste, and minimize carbon footprints, the Second-Hand market presents a sustainable alternative.
 

In addition, it allows consumers to get premium, branded, or designer goods at a small portion of their original price, further experiencing growth. Used clothes can vary widely in terms of quality and condition. Customers may come across worn-out, damaged, or misrepresented merchandise, which may discourage them from buying Second-Hand goods. As the Second-Hand fashion industry relies on the availability of donated or resold items, inventory is irregular and limited. Furthermore, it can be difficult to discover particular sizes or designs, making it less appealing to some customers preferring a more predictable buying experience
 

Second-Hand Fashion Market Trends

Social media influencers, celebrities, and fashion bloggers usually advocate for sustainable fashion choices and Second-Hand clothing by sharing their thrifted findings. More people are exploring Second-Hand possibilities due to this visibility and endorsement, thereby changing public perception and increasing societal acceptance and normality of thrift store purchasing. The younger generations—Millennials and Gen Z in particular—place a higher value on ethical and sustainable consumption. As buying used goods becomes more common, the stigma attached to it is fading, in turn, stimulating market demand.
 

Second-Hand Fashion Market Analysis

Based on product type, the market is segmented into clothing & accessories. In 2023, the clothing segment accounted for a revenue of around USD 46.2 billion and is expected to reach USD 87.9 billion by 2032. The market expansion of Second-Hand apparel is aided by online resale websites. Businesses, such as Vinted, Poshmark, Depop, and ThredUp, have experienced exponential growth. Furthermore, through collaborations, buy-back programs, and specialized resale sections, mainstream stores and premium brands are entering into the Second-Hand market. For example, merchants, such as Urban Outfitters, have developed sites including Nuuly Thrift, and labels, such as Levi's and Patagonia, have introduced their own resale schemes.

Based on consumer group, the second-hand fashion market is segmented into men, women, and kids. In 2023, the women segment emerged dominant, commanding a market share of around 63%, and is expected to reach 64% by 2032. Women's vintage and Second-Hand clothing is frequently at the forefront of trends, providing one-of-a-kind, antique, and even expensive designer items that are not available in regular retail establishments. This cutting-edge strategy draws customers searching for unique, premium products. One of the main motivators is the allure of discovering rare, old, or unusual products that allow women to express their style and distinguish themselves from the crowd, boosting business growth.

North America held the largest second-hand fashion market share of around 43% in 2023 and is anticipated to reach USD 60 billion by 2032. North American consumers are demanding more sustainable fashion options owing to their growing environmental consciousness. As they place a high value on eco-friendly practices, Gen Z and Millennials are especially susceptible to this tendency. Furthermore, Second-Hand options are increasingly being incorporated into the business strategies of luxury brands and mainstream merchants. Retail behemoths, such as Walmart and Nordstrom, have extended their product options and reached a broader audience by collaborating with online resale platforms to market used goods.
 

The U.S. dominated the North America Second-Hand Fashion market with a revenue of over USD 23.9 billion in 2023 and is expected to grow at a CAGR of 8% during the forecast period. The availability and appeal of used goods have increased owing to technological advancements. Online platforms offer secure payment methods, virtual try-ons, AI-driven customization, and user-friendly interfaces. These developments improve the shopping experience and draw in more customers, propelling market demand.
 

Germany dominated the Europe Second-Hand Fashion market with a revenue of around USD 5.4 billion in 2023 and is expected to grow at a CAGR of 7.9% from 2024 to 2032. The German market for used clothing is growing rapidly owing in large part to online retailers. Apps and websites, such as Momox Fashion, eBay Kleinanzeigen, and Vinted (previously Kleiderkreisel), have become popular. These marketplaces offer a practical and easy-to-use interface for buying and selling used apparel. Additionally, the industry will develop due to the introduction of Second-Hand sections by brands, such as Zalando, and collaborations between traditional stores and Second-Hand platform providers to provide a greater selection of sustainable fashion options.
 

China dominated the Asia Pacific Second-Hand Fashion market with a revenue of around USD 3.5 billion in 2023 and is expected to reach around USD 6.9 billion by 2032. China's market for vintage clothing is expanding due to digitalization. Internet resources, such as Zhuanzhuan, Idle Fish, and Xianyu, have gained popularity. These marketplaces provide Chinese customers with ease and accessibility by offering a large selection of used apparel. China's largest e-commerce companies are heavily involved in the used fashion industry. Companies, such as Tencent and Alibaba, have invested in or created specialized marketplaces for used products, utilizing their vast user bases and technological prowess to propel the market demand.
 

Second-Hand Fashion Market Share

The Second-Hand Fashion market is fragmented, with several regional companies operating on a global scale. In 2023, ThredUp Inc., Poshmark, Inc., Depop Ltd., The RealReal, Inc., and Vestiaire Collective S.A. led the market. These corporations strategically deploy mergers, acquisitions, partnerships, and facility expansions to expand their customer base, broaden their product offerings, and establish a stronger foothold in the market. They also leverage their vast distribution networks and resources to explore new markets.
 

Second-Hand Fashion Market Companies

Major players operating in the second-hand fashion industry are:

• Buffalo Exchange, Ltd.
• Crossroads Trading Co.
• Depop Ltd.
• Goodwill Industries International, Inc.
• Grailed, Inc.
• Kidizen, Inc.
• Plato's Closet, Inc.
• Poshmark, Inc.
• Rebelle GmbH
• The RealReal, Inc.
• The Salvation Army
• ThredUp Inc.
• Tradesy, Inc.
• Vestiaire Collective S.A.
• Vinted UAB
   

Second-Hand Fashion Market News

• In December 2021, Farfetch, acquired Luxclusif, a worldwide business-to-business resale platform catering to the luxury fashion sector, for an undisclosed amount. Through the acquisition, Luxclusif's advanced technology infrastructure and its team were integrated into Farfetch's operations.
   
• In July 2021, ThredUp Inc. acquired Remix Global AD (Remix), a European fashion resale company. This acquisition resulted in strong domestic growth for ThredUP .
   
• In June 2021, Etsy acquired Depop, a popular Second-Hand fashion app. Depop is known for its vintage and streetwear collections. The acquisition helped Etsy attract younger shoppers and strengthen its position in the used clothing market.
   

The Second-Hand fashion market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Billion) and volume (Million Units) from 2021 to 2032, for the following segments:

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Market, By Product Type

• Clothing
  • Top wear
    • Tops
    • T-Shirts
    • Others (Sweaters, blouses, etc.)
  • Bottom wear
    • Jeans
    • Shorts
    • Leggings
    • Others (Joggers and sweatpants, etc.)
• Accessories
  • Bags and purses
  • Shoes
  • Jewelry
  • Other accessories

Market, By Price Range

• Low
• Medium
• High

Market, By Consumer Group

• Men
• Women
• Kids

Market, By Distribution Channel

• Online
  • E-commerce
  • Company websites
• Offline
  • Consignment shops
  • Thrift stores
  • Other physical stores (Pop-up shops, etc.)

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Malaysia
  • Indonesia
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• MEA
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA