Global: The global resale apparel market is projected to reach $204.7 billion in 2024, marking a growth rate of 17.6%. This surge is attributed to rising consumer demand for affordable and sustainable fashion, particularly in North America and Europe, with expectations for continued growth in the coming years.
The global resale apparel market has reached a significant milestone, recording a remarkable growth rate of 17.6% to achieve a valuation of $204.7 billion in 2024. This information comes from GlobalData, which has documented that this marks the fourth consecutive year of double-digit growth for the sector, driven largely by a consumer trend towards preloved fashion. In contrast, the traditional apparel market saw minimal growth of only 0.1% during the same period.
Alice Price, an Apparel Analyst at GlobalData, attributed this surge to the increasing consumer preference for more affordable fashion, particularly in economically uncertain areas such as North America and Europe. Price commented, “The resale apparel market has been benefitting from consumers seeking more affordable fashion… coupled with rising environmental awareness, as consumers become more conscious of the amount of fashion ending up in landfills.” This dual focus on budget-friendly options and sustainability has fuelled a thriving market for second-hand clothing and accessories.
Looking ahead, forecasts indicate that the resale apparel market will continue to flourish, with an anticipated growth rate of 13.3% in 2025, and a compound annual growth rate (CAGR) of 11.4% expected from 2023 to 2028. Regions projected to experience the most substantial growth include Asia Pacific and the Middle East and Africa, with expected CAGRs of 14.1% and 11.6%, respectively. This trend is attributed to a diminishing stigma surrounding the purchase of secondhand goods and a growing awareness of the environmental implications of fashion consumption.
There is a notable surge in luxury resale, as consumers in these high-growth regions increasingly seek designer offerings. In contrast, the Americas and Europe—boasting well-established resale markets—are expected to see slower growth. In particular, Latin America and Eastern Europe’s relatively lower online penetration may hinder the development of resale platforms.
According to Price’s analysis, footwear is projected to witness the highest growth within the resale market over the coming years, with an expected CAGR of 13.8%. This increase is driven by the rising popularity of resale trainers, particularly those that are rare or limited edition, which tend to appreciate in value. Furthermore, the accessories segment is forecasted to marginally increase its market share to 9.9%, with a CAGR of 11.6%, as secondhand designer items, such as handbags, gain appeal among consumers who find themselves priced out of traditional luxury.
While clothing remains the most dominant category in resale apparel sales, it is expected to experience the slowest growth rate, with a forecast CAGR of 11.0%. Its market share may contract by 1.5 percentage points to 76.9%, as other categories, particularly footwear and accessories, gain traction.
The ongoing evolution of the resale market suggests that consumers are embracing options that balance modern sensibilities with retro charm, highlighting a future that integrates timeless fashion into contemporary lifestyles.
Source: Noah Wire Services
