Tuxedo Rental Market Size and Trends

The global tuxedo rental market is estimated to be valued at USD 874.2 Mn in 2025 and is expected to reach USD 1,341.6 Mn by 2032, exhibiting a compound annual growth rate (CAGR) of 6.3% from 2025 to 2032.

Key Takeaways of the Tuxedo Rental Market

The online rental segment is expected to contribute 53.5% share of the market in 2025.
The traditional tuxedos segment is expected to contribute 36.3% share of the market in 2025.
The men segment is expected to account for 46.1% of the market share in 2025.
North America is projected to top the market with 33.0% share, followed by Asia Pacific with 26.2% share in 2025.

Market Overview:

The market has been growing steadily over the years driven by the rising number of social events such as weddings, formals, and parties where wearing a tuxedo is considered appropriate formal attire. This market is expected to witness positive growth over the forecast period supported by increasing disposable incomes. Rising number of social events along with the growing trend of renting formal attires as against ownership is expected to drive the market growth. Furthermore, ease of rental and availability of wide collection through online platforms are making tuxedo rentals more convenient for customers. However, increasing penetration of websites and apps offering used tuxedos at lower prices might limit the growth of the organized tuxedo rental sector to some extent in the coming years.