Second Hand Clothing Market Size
The secondhand economy a 24 billion market as of 2018 is projected to grow to nearly 1 5 times the size of fast fashion retailers with high turnaround and lower prices like zara and h m within.
Second hand clothing market size. An alarming rate of 68 pounds of clothing is estimated to be thrown away by each american. But by 2028 the used fashion market is set to skyrocket in value to 64 billion in the. Until the mid 19th century second hand clothing was an important way of acquiring clothing. In 2018 the global resale apparel market was valued at 5 billion u s.
Second hand clothing is a major source of business. In 2018 it ranked as the world s second biggest exporter of used clothing with exports valuing at approximately. It is said that over 70 percent of the total world population wears second hand clothes. Secondhand clothing process garments are passed on through donations to charities community groups or commercial collection banks sold to textile recycling plants are sorted graded and put into bales recyclers look for type fabric and quality of the garment when sorting clothing can be categorized into more than 400 groups poor quality garments may be processed into fibers or used as.
In 2018 versus 35 billion for fast fashion. Secondhand apparel market value worldwide from 2012 to 2018 with a forecast from 2019 to 2023 by segment in. The global trade of secondhand clothing has a long history. The uk also plays a key role in trading second hand and used goods worldwide.
The second hand apparel market was worth 24 billion in the u s.
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