The Global Used Clothing Market: A Booming Industry

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The Global Used Clothing Market: A Booming Industry

19 9 月, 2024
By D, Allen

Used clothes supplier

In a society of mass consumption, between the years 2000 and 2015, the production of clothing more than doubled from around 50 billion tonnes to a little over 100 billion tonnes. The global used clothing market is booming and is expected to reach a milestone value of $80 billion, doubling the value of the fast fashion market in the coming years.

Fashion has evolved beyond simply wearing the trendiest outfits or chasing the most expensive brands. Today, global consumers are increasingly turning to used clothes for many reasons.

Shopping for used clothes is one of the easiest and best things we can do to contribute to a greener earth. Deciding to buy used clothes is a great start, but knowing where to shop is crucial.

The demand for quality wearables from used clothes suppliers has reached an all-time high. It’s clear that used clothing is fast becoming the average person’s first source of fashion, with the wardrobe of the average used clothing consumer made up of 25% pre-owned clothing.

The Used Clothing Market: A New Goldmine?

The global used clothing market is experiencing rapid growth, reminiscent of the American gold rush. More traders (wholesalers and retailers) and consumers are tapping into this goldmine. The global used clothing market has seen the sales of pre-owned clothes grow to an astronomical 21 times more than the mainstream retail clothing market in the past three years.

Consumers worldwide are increasingly concerned about the environment and the impact of consumerism on their wallets. These factors have created a bigger market for used clothing than ever before. This boom in the pre-owned clothing market is further facilitated by used clothing dealers like Kungfu KingAAA, one of the best wholesale used clothing suppliers in the world.

Data from several studies reveal that the used clothing market is growing at a much faster rate than sustainable fashion. Public acceptance of used clothes has also reached a commendable height, making the market’s growth very astonishing.

A larger share of the average clothing consumer’s wardrobe is increasingly occupied by used clothes. For example, the US clothing market is predicted to be filled to 18% by used clothing, fueled by several trends significantly changing how people source their clothes.

Driving Catalysts for the Growth of the Global Used Market

Several factors contribute to the explosive growth of the global used market. One major driving factor is consumers’ desire for better value. Shoppers realize that patronizing the used clothing market is the easiest way to get what they want.

The social stigma formerly associated with used clothing has drastically reduced. 90% of Gen Z shoppers believe there is no stigma associated with buying used clothing. Almost 50% of shoppers in a survey said they intend to spend more money purchasing used clothes in the coming months.

Fashion consumers have become more concerned with sustainability, especially young shoppers. They are now more sensitive to the damage the fashion industry causes, including its enormous water footprint, poor working conditions for workers, and hazardous substances used to create colors. Consumers are dedicated to making fashion decisions that will help mitigate these harms.

The COVID-19 pandemic also contributed to the growth of the global used market. The economic redundancy and restriction of movement during the lockdown period made avid fashion shoppers adjust by looking for other ways to meet their clothing needs, turning to online shopping for used clothes.

The shift towards the used clothing market makes a lot of difference to the world and encourages people to purchase more used clothing. According to reliable statistics, it was estimated that in 2022, 1.65 pounds of CO2e would be saved if everyone wore used clothing to one wedding. Saving this amount of CO2e is equivalent to taking 56 million cars off the road for an entire day.

Everyone is jumping on the thrift clothing bandwagon, seeing the used clothing market as a source of getting quality clothes at a cheaper price and as a means of earning good income. Resellers and savvy fashion shoppers have increased their interest in used clothing because of the higher quality it offers, allowing it to be resold while still in good condition. This reduces the demand for cheap “fast fashion” items.

As consumers’ concern for the environmental impact of production, transportation, and industrial waste continues to increase, many are also increasing their used clothing consumption to reduce their carbon footprint.

Market experts project that the used clothing market could hit $64 billion globally within the next five years. The traditional thrift sector is also predicted to make up to $36 billion, with analysts saying the global used market will reach $80 billion by 2029, almost 200% of the value of the fast fashion industry, which is worth $44 billion.

3 Factors Accelerating the Growth of the Global Used Market

The Gen-Z Influence

Younger consumers, especially those between 16 and 23, are powering the used clothing aesthetics trend. These Gen-Z shoppers are helping drive the used market growth by associating with it and showcasing vintage-inspired looks on social media.

According to ThredUP research, about 80% of consumers in this age group believe there is no stigma associated with rocking a used clothing item. The study also discovered that 90% of Gen Z fashion consumers are more than willing to shop for used clothing, a far cry from what older generations are willing to do.

Demand for More Sustainable Clothing

A major catalyst driving the growth of the global used clothing economy is the demand for more sustainable clothing. Due to several complications in the global ecosystem, many people are now searching for more sustainable fashion options.

According to a 2019 fashion report by the global fashion search platform Lyst, people are searching for keywords closely related to sustainability more than ever before. Keywords related to sustainable fashion have risen on average to about 75% yearly.

The Desire to Reduce the Global Footprints of Garments

Consumers have learned that wearing clothes for just nine months longer helps reduce their footprint by 20%. Increasing the lifespan of a garment for more than nine months when it could have been discarded will reduce its environmental impacts to as low as 20-30%, according to a recent BBC report.

Active Used Clothing Markets

From 2020 to 2029, the global used clothing market size is expected to increase by 12.4% CAGR. From $8.6 billion in 2020, market analysts predict it will climb to $27.5 billion or more.

The global used clothing market is very populated with several established players who play key roles in the market. The size of these active markets gives them a commanding say in the clothing resale industry. The used clothing market uses proprietary technology that requires years of extensive research and planning to be implemented efficiently.

Let’s break down the active used clothing markets worldwide by region: Asia Pacific (APAC), Europe, the Middle East and Africa (MEA), North America, and South America

Asia Pacific (APAC)

Countries include China, Singapore, South Korea, Japan, Malaysia, India, Australia, ASEAN nations, and the rest of APAC.

Europe

Active used clothing markets are located in countries like the United Kingdom, France, Germany, Croatia, Norway, Turkey, Italy, Ukraine, Spain, Poland, Russia, Georgia, and Estonia.

Middle East and Africa (MEA)

The Middle East’s active used clothing market regions consist of countries such as the United Arab Emirates (UAE), Oman, Qatar, Saudi Arabia, Kuwait, and Bahrain. On the African front, there are very active used clothing markets in Nigeria, Ghana, Togo, Mali, Benin Republic, South Africa, Botswana, Zimbabwe, Mozambique, Kenya, Tanzania, and the rest of Africa.

North America

This includes the United States, Mexico, Canada, Jamaica (and most of the Caribbean nations), Puerto Rico, Costa Rica, etc.

South America

The South American continent is one of the biggest used clothing markets in the world, partly due to its size, population, and economic state. Countries include Brazil, Argentina, Ecuador, Chile, Colombia, Uruguay, and the rest of South America.

A Survey of Some of the Biggest Used Clothing Markets in the World

The global used clothing market has expanded significantly due to the consuming public’s enlightenment about the benefits of buying used clothes.

USA

ThredUP published a report based on findings from Global Data showing that American fashion consumers now prefer fashion choices considered more sustainable. According to ThredUP, the US used clothing market, which was $36 billion in 2020, is likely to reach $77 billion over the next five years and could even cross the $100 billion benchmark.

Kenya

Kenya is one of the biggest importers of used clothing in Africa, with over 8,000 containers of unsorted used clothing weighing about 185,000 metric tonnes imported in 2019 alone. Kenya’s Institute of Economic Affairs (IEA) revealed that the used clothing market of the country directly keeps over 2 million people in jobs.

India

Although the import of used clothes has been banned in India, the domestic used clothing market is reviving, particularly in Mumbai, one of India’s largest cities. Kandla in Gujarat is also a major market for pre-loved clothing in India.

How the Used Clothing Market Affects All Parties

The effect of the global used market is felt differently by the various players (consumers, retailers, wholesalers, and importers/exporters) in the industry.

Consumers benefit from cheap yet fashionable clothing, quality materials that last long, and the opportunity to help the environment. For retailers and wholesalers, the growth of the global used market means good business, with an increased demand among consumers and access to reputable bale clothes suppliers.

For importers and exporters, expert projections of an explosive used clothing market portend increased demand for used clothing, making it a good time to enter into trade partnerships with reputable used clothing suppliers and become part of this fast-growing global market.

Conclusion

The used clothing market is a booming industry with tremendous growth potential. By understanding the factors driving this growth and the impact on different market players, businesses

and consumers alike can benefit from this sustainable and economically advantageous trend.

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