Apparel Supply Chain Market: Adapting to Consumer Demand Shifts

 The global apparel supply chain market was valued at USD 863.75 billion in 2021 and is projected to reach USD 1,119.69 billion by 2028, growing at a compound annual growth rate (CAGR) of 3.8% from 2022 to 2028. The increasing demand for apparel from the fashion sector and the expansion of online retail channels are anticipated to drive market growth during the forecast period.

 

The apparel supply chain empowers companies to maintain control over various aspects of the entire process, enabling them to swiftly adapt to industry trends and produce relevant collections. This capability is expected to create new business opportunities for key players and further stimulate the apparel supply chain market in the coming years.

 

The integration of advanced technologies within the apparel supply chain to collect accurate and timely data is anticipated to create lucrative opportunities for the market. Additionally, implementing sustainability initiatives within the apparel supply chain has become essential for reducing carbon emissions, marking it as an important trend moving forward.

 

Key Market Trends & Insights

• Regional Performance: The Asia Pacific region dominated the market, accounting for over 55.0% of revenue in 2021, and is expected to grow at the fastest CAGR of 4.4% from 2022 to 2028. The increased use of e-commerce platforms for purchasing products, combined with rising apparel sales in the region, is expected to drive market growth.
• Process Segmentation: The pre-production segment led the market, holding a revenue share of over 80.0% in 2021 and is projected to expand at the fastest CAGR of 3.9% from 2022 to 2028. The growing demand for apparel from the fashion industry, along with increased e-commerce usage for apparel purchases, has elevated the importance of the pre-production segment in the apparel supply chain.
• Trade Logistics: The trade logistics segment is expected to grow at a significant CAGR of 3.2% during the forecast period. Trade logistics offers companies flexibility and enhances operational control while also reducing costs.

 

Order a free sample PDF of the Apparel Supply Chain Market Intelligence Study, published by Grand View Research.

 

Market Size & Forecast

• 2021 Market Size: USD 863.75 Billion
• 2028 Projected Market Size: USD 1,119.69 Billion
• CAGR (2022-2028): 3.8%
• Asia Pacific: Largest market in 2021

 

Key Companies & Market Share Insights

The apparel supply chain market features both established and emerging players. Many key companies are pursuing various strategies, including alliances, partnerships, and mergers to capture greater market share. For instance, in December 2021, Li & Fung Limited formed a strategic partnership and announced its acquisition of LF Logistics by Maersk to streamline and connect supply chains for customers.

 

Key Players

• BSL Ltd.
• INVISTA Equities, LLC (Koch Industries, Inc.)
• Luthai Group
• Paulo de Oliveira company
• China Textiles (Shenzhen) Co., Ltd.
• Paramount Textile Mills (P) Ltd.
• Successori Reda SpA
• Mayur Fabrics
• Rhodia SA (Solvay Group)
• Li & Fung Limited

 

Explore Horizon Databook – The world's most expansive market intelligence platform developed by Grand View Research.

 

Conclusion

The apparel supply chain market is poised for steady growth driven by rising demand from the fashion sector and the increasing reliance on online retail channels. As companies leverage advanced technologies and focus on sustainability, the market is likely to experience significant transformations. The Asia Pacific region will continue to lead the market, bolstered by its growing e-commerce landscape. With strategic partnerships and innovative practices, key players are well-positioned to capitalize on the evolving dynamics of the apparel supply chain.

Apparel Market Trends and The Rise of Athleisure and Casual Wear

 The global apparel market was valued at USD 1.77 trillion in 2024 and is projected to reach USD 2.26 trillion by 2030, with a compound annual growth rate (CAGR) of 4.2% from 2025 to 2030. This growth is primarily driven by increasing consumer spending on apparel worldwide.

 

According to the U.S. Bureau of Labor Statistics, in 2023, the average annual household expenditure for women’s apparel was approximately USD 655, while for men’s apparel it was USD 406. The expanding availability of products through online distribution, the growing penetration of e-commerce platforms, and a diverse range of collections launched by key market players are expected to further fuel growth during the forecast period.

 

Furthermore, rising disposable incomes in emerging markets are significantly contributing to the growth of the global apparel market. Countries like China, India, and Brazil are undergoing rapid urbanization and economic development, strengthening the middle class and enhancing purchasing power. This demographic shift is increasing demand for clothing and accessories as consumers seek to update their wardrobes, follow fashion trends, and improve their lifestyles.

 

There is also an increasing preference among consumers for sustainable and environmentally friendly apparel, which is likely to influence market growth. Consumers are becoming more aware of the environmental impacts of their consumption habits and the materials used in production. As a result, they are actively searching for clothing that is sustainably and ethically produced, favoring eco-friendly materials such as organic cotton and recycled fabrics. There is a growing demand for brands to adopt transparent supply chains, minimize waste, and ensure fair labor practices. Embracing sustainable practices is essential for both individuals and businesses to reduce their environmental footprint and promote a more sustainable future.

 

Key Market Trends & Insights

• Regional Performance: The Asia Pacific region dominated the global market with a revenue share of 40.5% in 2024. This leadership is driven by the increasing penetration of e-commerce, a heightened focus among fashion brands on improving their digital presence, and a growing preference among young consumers for the latest fashion trends.
• S. Market Share: The U.S. held the largest revenue share of the regional market in 2024, bolstered by the presence of major companies, rising disposable incomes among young consumers, an influx of new entrants, and technological advancements that enhance production, design, and distribution capabilities.
• Market Segment: The mass apparel segment led the global market with a revenue share of 68.0% in 2024. This segment continually introduces new designs and patterns that engage customers, prompting retailers to replace inventory with the latest arrivals rather than restocking older items.
• End Use Segment: The women’s segment captured the largest revenue share in 2024, reflecting a surge in demand for new trends and diverse options. Women's fashion is in higher demand than men's, driven by a wide variety available, including dresses, skirts, blouses, and accessories, leading designers and retailers to prioritize offerings in this segment.
• Distribution Channel: The offline segment accounted for the largest revenue share in 2024. Offline shopping offers a personalized experience, allowing customers to assess product features such as fabric quality and design. Store associates can provide tailored assistance, styling advice, and effectively address customer inquiries.

 

Order a free sample PDF of the Apparel Market Intelligence Study, published by Grand View Research.

 

Market Size & Forecast

• 2024 Market Size: USD 1.77 Trillion
• 2030 Projected Market Size: USD 2.26 Trillion
• CAGR (2025-2030): 4.2%
• Asia Pacific: Largest market in 2024

 

Key Companies & Market Share Insights

Key players in the apparel industry include Adidas AG, Puma SE, VF Corporation, Burberry Group plc, and Nike Inc. These major companies are adopting strategies such as new product development, innovation, collaboration, and efficient marketing and distribution.

• Burberry Group plc: A luxury apparel brand known for its diverse product range, including outerwear and scarves, operating across the Asia Pacific, Europe, the Middle East, Africa, and the Americas.
• Adidas AG: Offers a wide variety of apparel, including sportswear and athleisure, catering to global sports enthusiasts with specialized collections.

 

Key Players

• VF Corporation
• Burberry Group plc
• Puma SE
• Adidas AG
• NIKE Inc.
• H & M Hennes & Mauritz AB
• LVMH
• KERING
• PVH Corp.
• INDITEX

 

Explore Horizon Databook – The world's most expansive market intelligence platform developed by Grand View Research.

 

Conclusion

The apparel market is poised for significant growth, driven by increasing consumer spending, evolving fashion trends, and a heightened focus on sustainability. With the rise of e-commerce and the demand for diverse clothing options, the market is well-positioned for continued expansion. As consumer preferences increasingly shift towards sustainable practices, brands that prioritize ethical production and transparency will likely gain a competitive advantage in this dynamic industry.

Anti-counterfeit Packaging Market: Regulatory Framework and Compliance

     The global anti-counterfeit packaging market size was estimated at USD 177.92 billion in 2024 and is projected to reach USD 345.93 billion by 2030, registering a CAGR of 11.7% from 2025 to 2030. The increasing demand for brand protection solutions, particularly for pharmaceutical products, is a significant driver of this growth.

 

Additionally, the ease of product monitoring throughout the supply chain is anticipated to further propel market growth over the next seven years. Technological advancements that enhance the capabilities of anti-counterfeit solutions are also expected to contribute to market expansion.

 

A primary driver of the market is the growing global concern regarding product counterfeiting, especially in pharmaceuticals, luxury goods, and consumer electronics. For example, according to data from US Customs and Border Protection, over USD 2.0 billion worth of goods and more than USD 20.0 million worth of counterfeit drugs were seized at the U.S. border in 2022. Consequently, the increasing investments by drug manufacturers and the U.S. government to address counterfeiting issues are likely to stimulate industry growth throughout the forecast period.

 

Key Market Trends & Insights

• North America dominated the global market, accounting for the largest revenue share of over 43.0% in 2024. This dominance is attributed to a robust regulatory framework and stringent enforcement measures. The FDA's Drug Supply Chain Security Act (DSCSA) and the Food Safety Modernization Act (FSMA) have mandated advanced tracking and authentication systems for pharmaceuticals and food products.
• By technology, the track & trace segment led the overall market with a revenue share of over 49.0% in 2024 and is expected to exhibit strong growth with a CAGR of 12.2% during the forecast period. These technologies facilitate real-time product monitoring throughout the supply chain, utilizing serialization, barcodes, RFID tags, or QR codes that provide unique identifiers for each product.
• By application, the pharmaceutical segment captured the largest revenue share of over 27.0% in 2024 and is anticipated to experience significant growth with a CAGR of 12.7% over the forecast period. Anti-counterfeit packaging in the pharmaceutical sector is crucial for ensuring the authenticity of medicines, helping to prevent the circulation of counterfeit drugs that could endanger patients.

 

Order a free sample PDF of the Anti-counterfeit Packaging Market Intelligence Study, published by Grand View Research.

 

Market Size & Forecast

• 2024 Market Size: USD 177.92 Billion
• 2030 Projected Market Size: USD 345.93 Billion
• CAGR (2025-2030): 11.7%
• North America: Largest market in 2024

 

Key Companies & Market Share Insights

The market is characterized by fragmentation, with numerous small manufacturers entering with innovative production technologies. Competition among companies is largely driven by the technology offered and the level of innovation implemented. Firms are investing heavily in mergers & acquisitions, R&D, and innovation to gain a competitive edge.

 

Key Players

• 3M
• AVERY DENNISON CORPORATION
• CCL Industries
• DuPont
• Zebra Technologies Corp.
• ITL Group
• SML Group
• SATO Holdings Corporation
• SICPA HOLDING SA
• Systech International
• Applied DNA Sciences
• AlpVision SA
• Authentix
• Atlantic Zeiser GmbH

 

Explore Horizon Databook – The world's most expansive market intelligence platform developed by Grand View Research.

 

Conclusion

The anti-counterfeit packaging market is poised for substantial growth driven by technological advancements, regulatory requirements, and a heightened focus on brand protection. With significant investments in innovation and a proactive approach to combating counterfeiting, the industry is likely to evolve rapidly, addressing the critical challenges posed by product fraud across various sectors.

Cassava Starch Market: Exploring New Applications in Food and Non-Food Sectors

 The global cassava starch market was valued at USD 5.45 billion in 2023 and is projected to reach USD 8.14 billion by 2030, growing at a CAGR of 5.9% from 2024 to 2030. The market is witnessing strong growth, largely fueled by evolving consumer lifestyles and increasing health awareness.

 

One of the primary drivers is the rising demand for convenience foods. With the pace of urbanization increasing and daily routines becoming more fast-paced, consumers are seeking quick, easy-to-prepare food options. Cassava starch plays a crucial role in the formulation of various processed foods such as instant soups, sauces, and ready-to-eat meals due to its effective binding, thickening, and stabilizing properties. This trend has significantly contributed to the expansion of the cassava starch industry, as manufacturers look to enhance product texture, consistency, and shelf life.

 

Another important factor supporting market growth is the increasing prevalence of gluten intolerance and celiac disease, which has led to a surge in demand for gluten-free food products. As cassava starch is naturally gluten-free, it has become a popular choice for producing alternatives like gluten-free bread, pasta, and baked goods. The shift toward healthier dietary habits that accommodate specific nutritional needs—without sacrificing taste or texture—is a key influence on market trends, making cassava starch an essential ingredient in gluten-free formulations.

 

Furthermore, the rapid growth of the food processing industry—particularly in regions where cassava is a staple, such as Asia Pacific and Africa—continues to bolster cassava starch consumption. In these markets, cassava starch is used in a wide range of food products including noodles, snacks, and bakery items, improving both quality and consistency. This versatility makes cassava starch highly attractive to food manufacturers aiming to innovate and respond to diverse consumer preferences. Consequently, the rising demand also stimulates investments in production infrastructure and technological advancements across the supply chain.

 

Key Market Trends & Insights

• In 2023, the Asia Pacific region held the largest share of global cassava starch revenue, accounting for 57.3%. This dominance is attributed to strong demand across various industries, including food and beverages, pharmaceuticals, and textiles, where cassava starch serves as a vital functional ingredient.
• By product type, modified cassava starch led the market in 2023, generating USD 2.54 billion in revenue. Modified starches outperform native starches in terms of texture, viscosity, and stability, making them highly suitable for applications in products such as puddings, sauces, and baked goods. These functional advantages drive their widespread use in both food and non-food sectors.
• By application, the food and beverage segment was the largest in 2023, with a revenue of USD 2.34 billion. The segment’s growth is strongly tied to increasing demand for gluten-free alternatives. As more consumers adopt diets that eliminate gluten for health reasons, cassava starch is increasingly used in the production of snacks, sauces, and baked products, offering a reliable and natural gluten-free solution.

 

Order a free sample PDF of the Cassava Starch Market Intelligence Study, published by Grand View Research.

 

Market Size & Forecast

• 2023 Market Size: USD 5.45 Billion
• 2030 Projected Market Size: USD 8.14 Billion
• CAGR (2024-2030): 5.9%
• Asia Pacific: Largest market in 2023

 

Key Companies & Market Share Insights

 

Leading players in the cassava starch market include Cargill Incorporated, Tate & Lyle, Ingredion, and AGRANA Starch. These companies have extensive product portfolios and global distribution networks, positioning them at the forefront of the industry.

 

Their strengths lie in robust R&D capabilities, which allow them to continuously improve product functionality for diverse uses across food and beverages, pharmaceuticals, and industrial applications. Additionally, their focus on natural, gluten-free ingredients and commitment to clean-label solutions resonate strongly with the growing segment of health-conscious consumers. Strategic partnerships and investments in innovation enable these key players to stay competitive and meet evolving consumer expectations.

 

Key Players

• Tate & Lyle
• Cargill, Incorporated
• Ingredion
• AGRANA Starch
• Psaltry International Limited
• KPN Pharma Co., Ltd.
• Visco Starch
• SPAC Starch Products Ltd.
• Vaighai Agro
• Ekta International
• Aryan International
• Sanstar Bio-Polymers Ltd.
• Asia Fructose Co., Ltd.
• Thai Foods Product International Co., Ltd.
• Ng Wah International Development Limited

 

Explore Horizon Databook – The world's most expansive market intelligence platform developed by Grand View Research.

 

Conclusion

The global cassava starch market is set to grow steadily through 2030, driven by a combination of factors including the rising demand for convenient and gluten-free foods, the expansion of food processing industries, and increased awareness of dietary health concerns. Cassava starch’s functional versatility, natural gluten-free properties, and suitability for a range of applications across food and non-food sectors make it a valuable ingredient in today’s market. With Asia Pacific maintaining its leadership position and global players actively innovating, the cassava starch industry is well-positioned for sustained growth and transformation in the coming years.    

Cassava Flour Market: Innovations in Production and Processing Techniques

 The global cassava flour market was valued at USD 4.74 billion in 2023 and is projected to reach USD 7.24 billion by 2030, expanding at a compound annual growth rate (CAGR) of 6.3% from 2024 to 2030. This growth is being fueled by evolving consumer preferences and dynamic market trends.

 

A major factor driving market expansion is the increasing demand for functional foods. As consumers become more health-aware, there is a rising preference for food products that offer nutritional benefits—particularly those that are gluten-free and high in fiber. Cassava flour naturally fulfills these requirements, being gluten-free and rich in carbohydrates and fiber, which promote digestive health and deliver long-lasting energy. These attributes are contributing to innovation in product development and greater incorporation of cassava flour into health-oriented food products.

 

In parallel, the growth of the food and beverage sector is significantly supporting market expansion. As urbanization accelerates and the working population grows—especially in developing countries like India and China—the need for convenient, healthy food options is increasing. Thanks to its versatility, cassava flour is being widely used in the production of snacks, baked goods, and other gluten-free offerings. Its compatibility with the plant-based food trend further boosts its market potential, as manufacturers aim to serve a broader range of consumers seeking nutritious and sustainable dietary alternatives. 

 

Key Market Trends & Insights

• The Asia Pacific region accounted for the largest market share in 2023, holding 57.3% of global revenue. Growth in countries such as China, Japan, and India is driven by the staple role of cassava in regional diets, along with its expanding applications across various food sectors.
• By product type, conventional cassava flour led the market with a revenue of USD 3.03 billion in 2023. This dominance is largely due to its cost-effectiveness and widespread availability. Conventional variants are more economically produced than organic alternatives, making them accessible to a wider segment of consumers and food processors.
• In terms of distribution channel, supermarkets and hypermarkets generated the highest revenue in 2023, totaling USD 2.28 billion. These retail outlets benefit from well-established supply chains and ensure consistent availability of cassava flour. They also provide consumers the advantage of in-person shopping, which includes evaluating product quality before purchase—a preference in many regional markets.
• By application, the food and beverage segment was the largest contributor to market revenue in 2023, with USD 2.84 billion. The rise in gluten-free diets—due to conditions such as celiac disease and gluten sensitivity—has led to cassava flour becoming a popular substitute for wheat flour. Its health benefits and adaptability in recipes continue to support its growth in this segment.

 

Order a free sample PDF of the Cassava Flour Market Intelligence Study, published by Grand View Research.

 

Market Size & Forecast

• 2023 Market Size: USD 4.74 Billion
• 2030 Projected Market Size: USD 7.24 Billion
• CAGR (2024-2030): 6.3%
• Asia Pacific: Largest market in 2023

 

Key Companies & Market Share Insights

Several companies are capitalizing on rising consumer interest in gluten-free and health-centric food products, which is significantly boosting cassava flour’s adoption in the food and beverage sector. Moreover, there's growing participation from companies prioritizing sustainable and clean-label practices, which align with the values of health-conscious consumers.

For instance:

• Psaltry International and MHOGO Foods have made sustainability central to their cassava processing operations. These firms appeal to customers looking for organic and natural ingredients, further supporting the market's upward momentum.

 

Key Players

• DADTCO Rivers Cassava Processing Company
• Psaltry International
• PT Agromoda Solution Indonesia
• Green Hills Natural Foods
• MHOGO Foods
• Mocaf Factory
• Cargill
• Archer Daniels Midland Company (ADM)
• Grain Millers, Inc.
• Tereos Group
• Thai Wah Public Company Limited
• Roquette Frères
• Emsland Group
• Ingredion Incorporated
• Otto's Naturals

 

Explore Horizon Databook – The world's most expansive market intelligence platform developed by Grand View Research.

 

Conclusion

The global cassava flour market is on a steady growth trajectory, driven by increasing demand for gluten-free, plant-based, and functional foods. Cassava flour’s inherent qualities—such as its versatility, high fiber content, and gluten-free nature—make it an ideal choice for modern health-conscious consumers. The market is particularly strong in the Asia Pacific region, supported by dietary traditions and rising urban consumption. With continued innovation, expanding distribution, and growing alignment with sustainability goals, cassava flour is expected to maintain a significant presence in global food markets through 2030.

Cashmere Clothing Market: Insights into Consumer Preferences and Trends

 The global cashmere clothing market was valued at USD 2.80 billion in 2023 and is expected to reach USD 4.24 billion by 2030, expanding at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2030. Cashmere garments continue to gain popularity worldwide, becoming emblematic of luxury, comfort, and style.

 

Sourced from the fine fibers of cashmere goats, this premium material is celebrated for its exceptional softness and warmth. The growing global demand for cashmere clothing reflects consumers' increasing preference for high-quality, natural fibers that offer both tactile appeal and long-term value.

 

The rise in demand is also influenced by fashion trends and celebrity endorsements, which have played a crucial role in boosting visibility and desirability. High-profile figures such as Taylor Swift, Kate Middleton, Emily Ratajkowski, Selena Gomez, and Carrie Underwood have been seen promoting or wearing cashmere clothing, enhancing its aspirational value. Notably, in September 2022, Gigi Hadid launched a direct-to-consumer cashmere brand called Guest In Residence, while Brad Pitt co-founded the luxury label God’s True Cashmere in January 2023. These initiatives have further amplified consumer interest in the category.

 

The growing popularity of cashmere garments is fueled by their luxurious feel, natural insulation, and lightweight warmth, which make them suitable across a variety of climates and occasions. These characteristics align closely with modern consumers’ focus on comfort, sustainability, and functional luxury, reinforcing the appeal of cashmere as a versatile wardrobe staple.

 

Order a free sample PDF of the Cashmere Clothing Market Intelligence Study, published by Grand View Research.

 

Key Market Trends & Insights

• Europe held the largest share of the global cashmere clothing market in 2023, accounting for 36.8% of total revenue. The region's strong demand is driven by deep-rooted fashion traditions, evolving consumer preferences, and a growing emphasis on sustainability and ethical sourcing, prompting a rise in demand for responsibly made cashmere products.
• By product type, cashmere sweaters and coats accounted for the largest revenue share at 51.4% in 2023. Renowned for their luxurious softness and comfort, these garments continue to attract consumers willing to invest in high-end wardrobe pieces that offer both style and tactile satisfaction.
• By end user, women’s cashmere clothing dominated the market in 2023, capturing a 58.8% revenue share. The popularity of items such as shawls and scarves among female consumers has led to the launch of more unique and innovative designs, fueling further growth. There is also an increasing preference for combining functional performance with high-end design.
• By distribution channel, offline sales made up the majority of the market in 2023, accounting for 60.9% of revenue. Physical retail outlets, including boutiques and department stores, offer a more immersive and personalized shopping experience, often featuring knowledgeable staff who guide customers through the nuances of cashmere care, quality grades, and styling.

 

Market Size & Forecast

• 2023 Market Size: USD 2.80 Billion
• 2030 Projected Market Size: USD 4.24 Billion
• CAGR (2024-2030): 6.2%
• Europe: Largest market in 2023

 

Key Companies & Market Share Insights

 

Leading companies in the cashmere clothing market include Loro Piana S.P.A., WHITE + WARREN, Pringle of Scotland Limited, and LISA TODD:

• Loro Piana offers an extensive portfolio of luxurious apparel, including sweaters, scarves, and outerwear. The brand is known for its commitment to traditional Italian craftsmanship and sustainability, making it a benchmark for elegance and quality.
• Pringle of Scotland Ltd. specializes in high-quality cashmere knitwear and holds a royal warrant for producing knitted garments. Its offerings cater to both men and women and reflect the brand’s heritage and innovation in textile design.
• LISA TODD distributes its cashmere clothing through specialty boutiques, department stores, and other retail outlets across North America, Europe, and Asia.

 

Among the emerging players, brands such as 360Cashmere, TSE Cashmere, and Autumn Cashmere are gaining traction:

• These companies offer a wide array of cashmere garments, including cardigans, pants, and sweaters, often sourcing their material from Alashan, China—a region known for its premium-grade cashmere.
• 360Cashmere distributes its products through various retailers in the U.S., Europe, and Canada, catering to the growing demand for fashionable, premium knitwear.

 

Key Players

• Loro Piana S.P.A.
• Brunello Cucinelli S.p.A.
• Pringle of Scotland Ltd
• Autumn Cashmere
• TSE Cashmere
• 360CASHMERE
• REPEAT cashmere
• WHITE + WARREN
• KINROSS CASHMERE
• LISA TODD
• Gobi Cashmere

 

Explore Horizon Databook – The world's most expansive market intelligence platform developed by Grand View Research.

 

Conclusion

The global cashmere clothing market is poised for steady growth through 2030, fueled by increasing consumer demand for premium, natural fibers, ongoing celebrity influence, and the evolving emphasis on sustainability and luxury fashion. With Europe maintaining its dominance in the market and women’s apparel leading in product segments, the future of cashmere clothing is anchored in both tradition and innovation. Established brands and emerging players alike are adapting to changing consumer expectations, offering stylish, functional, and ethically produced garments that continue to elevate cashmere as a luxury essential.

Car Rental Market: Analyzing Regional Dynamics and Opportunities

 The global car rental market was estimated at USD 149.87 billion in 2024 and is projected to reach USD 278.03 billion by 2030, growing at a compound annual growth rate (CAGR) of 10.5% from 2025 to 2030. This growth is primarily driven by an increase in global travel for both business and leisure purposes, leading to a heightened demand for convenient and flexible transportation options.

 

Technological advancements, particularly in online booking and mobile app integration, have made car rental services more accessible, streamlining the rental process and enhancing the customer experience. The rise of smartphones and internet penetration across both developed and developing regions has further bolstered growth in the car rental industry. Operators are improving their services through better customer and corporate data management, which facilitates personalized offerings and enhances fleet operations. Major players are also leveraging integrated global systems to manage their international operations more effectively, positioning themselves to attract a growing number of global travelers.

 

A notable trend is the rise of "bleisure" travel, where business trips are combined with leisure activities. This trend particularly resonates with younger employees, driving demand for flexible rental services that cater to both corporate and family travel needs. Additionally, car rental companies are focusing on sustainability by incorporating eco-friendly vehicles, such as electric and hybrid cars, to meet the increasing demand for environmentally conscious transportation.

 

While the pandemic had a temporary adverse effect on the car rental industry, especially in airport rentals, recovery is evident as global travel resumes. Companies have adapted to new hygiene and safety standards, building customer confidence. Furthermore, the shift toward non-airport rentals is reshaping the industry, with increased demand in urban and suburban areas as domestic travel rises, presenting new growth opportunities.

 

Key Market Trends & Insights

• North America Market Share: The car rental market in North America accounted for 36.39% of global market revenue in 2024. The presence of leading car rental operators like Avis Budget Group and Enterprise Rent-a-Car is expected to offer lucrative growth opportunities, alongside the increasing number of business and leisure trips in the region.
• S. Market Growth: The U.S. car rental industry is projected to grow at a CAGR of 8.7% from 2025 to 2030. A key factor driving this growth is the strong post-pandemic demand for rental cars, with leisure and business travel rebounding robustly. Major U.S. cities such as New York, Los Angeles, and Miami have experienced a notable increase in travel, spurring the need for short-term vehicle rentals.
• Online Booking Dominance: The online bookings segment held over 71% of the revenue share in 2024. This is attributed to the growing preference for digital platforms that offer convenience, transparency, and competitive pricing. Consumers increasingly utilize online channels, such as company websites, apps, and third-party platforms like Expedia or Kayak, to compare prices, read reviews, and make real-time bookings.
• Airport Transport Segment: The airport transport segment accounted for over 38% of market revenue in 2024, driven by the high volume of domestic and international travelers. Airport car rentals provide convenience for tourists, business travelers, and those needing reliable transport from airports to hotels or meeting locations, with companies like Avis, Hertz, and Enterprise strategically positioned at major terminals.
• Economy Car Rentals: The economy car rentals segment held over 32% of revenue share in 2024, largely due to affordability, widespread availability, and strong demand from budget-conscious consumers. These vehicles offer a cost-effective solution for travelers seeking reliable transportation for short trips or vacations, particularly as leisure travel increases.

 

Order a free sample PDF of the Carbon Accounting Software Market Intelligence Study, published by Grand View Research.

 

Market Size & Forecast

• Market 2024 Market Size: USD 149.87 Billion
• 2030 Projected Market Size: USD 278.03 Billion
• CAGR (2025-2030): 10.5%
• North America: Largest market in 2024

 

Key Companies & Market Share Insights

The global car rental market is moderately fragmented, characterized by numerous international and local players. Key players are expected to focus on expansion strategies to increase their regional market share, enhance brand awareness, and penetrate developing markets. Their main priority is to improve services to maximize profitability and attract a larger customer base.

 

Strategic partnerships are another critical strategy employed by market participants. For instance, in January 2023, Hertz and Uber Technologies Inc. announced plans to offer up to 25,000 electric vehicles (EVs) for rental to Uber drivers in Europe by 2025. This initiative includes models from renowned brands like Polestar and Tesla, with the rollout beginning in January 2023 in London, allowing Uber drivers to rent these vehicles for their ride-hailing services.

 

Key Players

• Enterprise Holdings
• The Hertz Corporation
• Avis
• Europcar
• Sixt
• ALD Automotive
• Localiza
• Movida
• Carzonrent
• Al-Futtaim Vehicle Rentals (AVR)

 

Explore Horizon Databook – The world's most expansive market intelligence platform developed by Grand View Research.

 

Conclusion

The global car rental market is poised for significant growth, driven by increasing global travel and technological advancements that enhance accessibility and customer experience. The rising trend of bleisure travel and the focus on sustainability further contribute to the market's expansion. As the industry adapts to post-pandemic realities and changes in consumer preferences, new opportunities will emerge, particularly in urban and suburban areas. Companies that strategically leverage technology and partnerships will be well-positioned to capture market share in this evolving landscape.