Global Off the Shelf Second Hand Furniture Market Scope Report

Global Off the Shelf Second Hand Furniture Market Highlights Over 2023 - 2033

The global off the shelf second hand furniture market is estimated to garner a significant revenue by the end of 2033 by growing at a CAGR of ~6% over the forecast period, i.e., 2023 – 2033. Further, the market generated a notable revenue in the year 2022. The growth of the market can be attributed to the increasing demand for off the shelf second hand furniture. For instance, the average annual spending by Americans on furniture/ appliances accounted for more than USD 2, 300.

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Off the shelf refers to something that is not customized and already present in stock. On the other hand, second hand appliances refer to things that are not new and have been owned by someone else. The used good retailers are offering their products through two main channels such as online and offline mode to the consumers. Hence, the surging number of online second hand retailers is expected to boost the growth of the global off the shelf second hand furniture market. There are between 11 Million -25 Million e-commerce sites around the globe in the year 2022

Global Off the Shelf Second Hand Furniture Market: Growth Drivers and Challenges

Growth Drivers

• Rising Concern for Furniture Waste– There has been growing environmental concern owing to the rising waste that has not been recycled. Therefore, it is projected to increase the growth of the global off the shelf second hand furniture market. Every year, more than 20 Million pieces of furniture are discarded in the United Kingdom.

• Growing Need for Cost Saving Benefits for Second Hand Furniture– In the United States, nearly 50 per cent of the adults belongs to middle class in the year 2022.

• Rising Population– According to the World Bank, the total population has increased from 6.11 Billion in 2000 to 7.84 Billion in 2021.

• Growing Demand for Furniture on Retail E-Commerce– In the year 2021, the furniture sales in the United States accounted for 17 per cent of the total retail e-commerce.

Challenges

• Risk of Less Useful Life

• Issues Related to the Appliance Quality

• Lack of Warranty

The global off the shelf second hand furniture market is segmented and analyzed for demand and supply by distribution channel into offline, and online. Out of these, the online segment is anticipated to hold the largest share over the forecast period owing to the large number of internet users across the globe, and the growing sellers’ wish to cover more consumers through expanding in different locations with little cost. There were more than USD 5 Trillion e-retail sales across the globe in the year 2021.

Global Off the Shelf Second Hand Furniture Market Regional Synopsis

Regionally, the global off the shelf second hand furniture market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in the Asia Pacific region is projected to hold the largest market share by the end of 2033 on the back of rising household numbers, followed by a surge in the population, and rising demand for furniture.  In the year 2020, there were more than 500,000,000 households in China.

Market Segmentation

Our in-depth analysis of the global off the shelf second hand furniture market includes the following segments:

Key Companies Dominating the Global Off the Shelf Second Hand Furniture Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global off the shelf second hand furniture market that are included in our report are ZEFO, eBay Inc., Carousell, OLX, Wallapop, OfferUp, Inc., Quikr, Varagesale, Shpock (finderly GmbH & Co KG), Letgo, and others.

Global Off the Shelf Second Hand Furniture Market: Latest Developments

• February, 2020: Quikr announced the launch of its first QuikrBazaar store in Chhattisgarh (India) that brings its assured products with a full warranty and replacement guarantee

• September, 2022: eBay Inc., announced the partnership with Reskinned in order to expand its preloved offering and reduce growing fashion waste

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal. 

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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