Secondhand Apparel Set for Strong Hike in Sales Through 2027; MEA Is Developing a Highly Lucrative Market for Investors, Forecasts a New FMI Study

Players in the second-hand apparel market are seeking
opportunities to enhance customer engagement to sustain the positive growth
trajectory.

Future Market Insights, Dubai: The secondhand apparel market is projected to grow at a tremendous CAGR of 11% during the
forecast period (2029-2027). A significant increase in millennial spending,
preference in clothing brands, and overall economic growth are predominant
factors driving the sales of secondhand apparel.

“The young
generation’s inclination towards online reselling platforms to buy environmentally-friendly
clothing will continue to be a major booster to sales,” reveals Future Market
Insights (FMI), in its new study.

Secondhand Apparel Market – Key Takeaways

  • The Middle
    East & Africa (MEA) will remain the key regional market for secondhand apparel.
  • MEA market is
    upheld by the high import of used clothing from the US and Europe, and high
    prevalence of secondhand clothes in Sub-Saharan African countries such as
    Kenya.
  • Dresses and
    tops will remain the sought-out categories, with more than 1/3rd of
    total sales.
  • Shirts and
    T-shirts would outpace other types of apparel in terms of growth in the near
    future.

Request report sample with 250+
pages to gain in-depth insights
: https://www.futuremarketinsights.com/reports/sample/rep-gb-11161

Secondhand Apparel Market – Key Driving Factors

  • Increasing
    spending power of millennials is enabling them to explore trendy, low cost, and
    classy-style used clothes.
  • Growing
    affordability and availability of used clothes are giving a significant thrust
    to sales of secondhand apparel.
  • Rise in
    working women’s population, demand for formal dresses among women is expected
    to further drive the market.
  • Increasing
    consumer awareness of online resale platforms and rapidly growing online
    start-ups for selling pre-owned branded clothes is giving significant traction
    to sales.

Secondhand Apparel Market – Key Constraint

  • The narrowing
    gap between the brand-new and secondhand apparel is expected to hold a
    considerable impact on the rapid growth of the market.

Download Report Methodology: https://www.futuremarketinsights.com/askus/rep-gb-11161

Competition Landscape

Some of the
leading players in the secondhand apparel market are Thredup Inc., The RealReal,
Poshmark, Vinted, Micolet, Percentil.ma, Thrift+, Chikatex, HunTex Recycling
Kft, British Used Clothing Company, eBay Inc., A&E Used Clothing Wholesale,
Mobacotex, Tradesy, StockX, among others. The market players are investing in
promotional activities, expansion of sales outlets, and are entering into
strategic partnerships with prominent retailers to cater to growing demand from
consumers.

More About the Report

The FMI’s
market research report of 250 pages offers comprehensive insights on the secondhand
apparel market. The study divulges compelling insights on the secondhand
apparel market based on product type dresses & tops, shirts & t-shirts,
sweaters, coats & jackets, jeans & pants, and others), sector (resale,
and traditional thrift stores and donations), end-user (men, women, and kids),
and sales channel (hypermarkets/supermarkets, specialty stores, independent
small stores, departmental stores, and other sales channel) across six major
regions.

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About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.

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