Europe's second-hand apparel industry is estimated to hit a value of US$ 17,329.90 million in 2024. The momentum is forecast to prevail with a CAGR of 7.70%, taking the valuation to a projected US$ 36,368.10 million by 2034. This growth trajectory reflects a growing consumer preference for sustainable fashion options, coupled with economic considerations and shifting attitudes towards pre-owned clothing. As awareness of environmental issues continues to rise, the appeal of second-hand apparel is expected to resonate strongly with European consumers, fueling the market’s expansion over the next decade.
Wherever the talks about fashion sustainability take place, vintage and second-hand clothing always have an important role to play. This is due in part to their relatability: people have amazing thrift shop buys and old stuff they cherished for years. But the cultural significance of these goods could be rather intricate.
Russia and Eastern Europe are the places associated with second-hand shops buying a previously worn garment was seen as proof of poverty in Soviet times. Things are changing in the newer generations. 25% of the second-hand customer’s clothing is made up from preowned apparel, thus making second hand market very popular.
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The fear of a recession may cause a reversal in the profitability trend, just as the cost-of-living problem may encourage individuals to transform their clothes into an additional source of revenue. In addition, significant progress has been made in privacy and product-authentication standards, making it simpler and safer for individuals to market their items online.
Second-hand fashion also caters to the demand for exclusivity among customers. It has numerous celebrity admirers, including Zendaya, who has frequently appeared on the red carpet wearing vintage clothing. Lorde and Rihanna, both singers, are admirers of the second-hand trend. All of these variables will continue to influence the industry during the forecast period.
Key Takeaways from the Europe Second-hand Apparel Market Study
- Spain second-hand apparel market is expected to be worth US$ 1,900 Mn in 2022, growing at 6% CAGR from 2022 to 2032.
- Sales of second hand apparels in Russia are expected to surge at 9.1% CAGR from 2022 to 2032.
- In terms of product type, the sweater and coats & jackets segments will witness highest growth over the forecast period.
- By sales channel, online retailers are expected to generate maximum revenue across Europe for second hand apparels.
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“Businesses that enters the resale market may assist to ease consumers’ concern about counterfeiting. However, in order to thrive in this new retail environment, brands and retailers will need to develop and adopt creative business strategies that represent the changing nature and evolving customer habits.” Says an FMI Analyst.
Who is winning?
Leading players operating in the Europe & Spain Second-hand Apparel market are:
- Vinted
- Ebay
- Vestaire Collective
- StockX
- Depop
- Artpal
- Etsy
- Rubylane
- Amazon
- Spoonflower
- Farfetch
- Yaga
- F&P Stock Solutions
- Garson & Shaw
- Others (as per request)
Get More Valuable Insights
Future Market Insights, in its new offering, provides an unbiased analysis of the Europe & Spain second-hand apparel market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
The study divulges compelling insights on the Europe second-hand apparel market by product type (dresses & tops, shirts & t-shirts, sweater, coats & jackets, jeans & pants, and others), by sector (resale, traditional thrift stores & donations), by target population (men, women, kids), by sales channel (wholesalers/distributors, hypermarkets/supermarket, multi-brand store, independent small stores, departmental stores, online retailers, other sales channel) & Country (Spain, Germany, U.K., France, Italy, Russia, Ukraine, Netherlands, Poland, Hungary & Rest of Europe).
