Second Hand Furniture Market Size
| Study Period | 2020 - 2029 |
| Market Size (2024) | USD 22.70 Billion |
| Market Size (2029) | USD 31.20 Billion |
| CAGR (2024 - 2029) | 6.57 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Second Hand Furniture Market Analysis
The Off-The-Shelf Second Hand Furniture Market size is estimated at USD 22.70 billion in 2024, and is expected to reach USD 31.20 billion by 2029, growing at a CAGR of 6.57% during the forecast period (2024-2029).
The market is increasing due to the rising availability of second-hand furniture products across online and offline channels. Consumers are adopting various furniture designs which can meet their needs. The adoption of second-hand furniture is getting influenced by the availability of products at an attractive price range which is expected to affect the significant demand for second-hand furniture in upcoming years.
The COVID-19 crisis has altered how people shop by adapting to new technologies. Shopping for furniture is now a decision to buy virtually. On average, second-hand furniture is more than 50% cheaper, allowing consumers access to the products at comparatively less cost. Low cost being the primary factor, is estimated to expand the market.
The rising millennial population has been paving the way for rising sales through online channels. This will positively impact the supply of second-hand furniture through online media. The market's growth is owing to the cost-saving benefits of second-hand furniture and the increasing desire of consumers to save money across the globe.
Second Hand Furniture Market Trends
Offline Distribution Channel is Dominating the Market
The Off-the-Shelf Second Hand Furniture Market is segmented into the distribution channel, which is further segmented into online and offline, out of which the offline segment, with a larger market share in 2021, is anticipated to have the largest share during the forecast period. However, with the rise of an increasing number of smartphone users and increasing penetration of internet users, the market share for the online segment is expected to grow at a higher rate over the forecast period.
Asia-Pacific is Expected to Witness the Highest Growth
The Asia Pacific is expected to account for a larger share in terms of revenue during the forecast period. The increasing size of the online marketplace for second-hand goods is anticipated to drive the growth of the Asia Pacific regional market.
Additionally, ease of accessibility, availability of a large variant of products coupled with comparatively low cost of second-hand furniture is anticipated to drive the growth market in the region during the forecast period. Countries such as China, Japan, and India have the most prominent market in the region.
Second Hand Furniture Industry Overview
The report covers major international players operating in the Off-the-Shelf Second Hand Furniture Market. The Indian mattress market is domestically dominated by players such as IKEA, Beverly Hills Chairs, Steelcase, London Aerons, and others. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping new markets.
Second Hand Furniture Market Leaders
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Ikea
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Beverly Hills Chairs
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Steelcase
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London Aerons
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Rework Chicago
*Disclaimer: Major Players sorted in no particular order
Second Hand Furniture Market News
- In March 2023, IKEA proposes major Richmond store expansion, growing by 50% in size. The company submitted a development permit application to the municipal government to seamless perform a major building expansion of the existing building at 3320 Jacombs Road
- In June 2022, IKEA launched GREAKER, a new cabinet with drawers with added safety and stability features designed to decrease one of the furnishing industry's most serious safety issues furniture tip over.
Second Hand Furniture Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Value Chain Analysis
4.5 Porter's Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Insights on Technological Innovations in the Market
4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Kitchen Furniture
5.1.2 Dining Furniture
5.1.3 Living Room Furniture
5.1.4 Bathroom Furniture
5.1.5 Indoor Furniture
5.1.6 Outdoor Furniture
5.2 By Application
5.2.1 Residential
5.2.2 Commercial
5.3 By Distribution Channel
5.3.1 Online
5.3.2 Offline
5.4 Geography
5.4.1 North America
5.4.2 Europe
5.4.3 Asia-Pacific
5.4.4 South America
5.4.5 Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 IKEA
6.1.2 Beveraly Hills Chairs
6.1.3 Steelcase
6.1.4 London Aerons
6.1.5 Rework Chicago
6.1.6 eBay Inc.
6.1.7 Craiglist
6.1.8 Etsy
6.1.9 Amazon
6.1.10 Yelp*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. APPENDIX
Second Hand Furniture Industry Segmentation
A complete background analysis of the Off-the-Shelf Second Hand Furniture Market, which includes an assessment of the parental market, emerging trends by segments and regional markets, Significant changes in market dynamics, and a market overview, is covered in the report.
The Off-The-Shelf Second Hand Furniture Market is Segmented By Type (Kitchen Furniture, Dining Furniture, Living Room Furniture, Bathroom Furniture, Indoor Furniture, and Outdoor Furniture), By Application (Residential, and Commercial), By Distribution Channel (Online, and Offline), by Geography (North America, Europe, Asia-Pacific, South America, and the Middle East and Africa). The report offers market size and forecast values for the Off-The-Shelf Second Hand Furniture Market in (USD) for the above segments.
| By Type | |
| Kitchen Furniture | |
| Dining Furniture | |
| Living Room Furniture | |
| Bathroom Furniture | |
| Indoor Furniture | |
| Outdoor Furniture |
| By Application | |
| Residential | |
| Commercial |
| By Distribution Channel | |
| Online | |
| Offline |
| Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| South America | |
| Middle East and Africa |
Second Hand Furniture Market Research FAQs
How big is the Off-The-Shelf Second Hand Furniture Market?
The Off-The-Shelf Second Hand Furniture Market size is expected to reach USD 22.70 billion in 2024 and grow at a CAGR of 6.57% to reach USD 31.20 billion by 2029.
What is the current Off-The-Shelf Second Hand Furniture Market size?
In 2024, the Off-The-Shelf Second Hand Furniture Market size is expected to reach USD 22.70 billion.
Who are the key players in Off-The-Shelf Second Hand Furniture Market?
Ikea, Beverly Hills Chairs, Steelcase, London Aerons and Rework Chicago are the major companies operating in the Off-The-Shelf Second Hand Furniture Market.
Which is the fastest growing region in Off-The-Shelf Second Hand Furniture Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Off-The-Shelf Second Hand Furniture Market?
In 2024, the Asia Pacific accounts for the largest market share in Off-The-Shelf Second Hand Furniture Market.
What years does this Off-The-Shelf Second Hand Furniture Market cover, and what was the market size in 2023?
In 2023, the Off-The-Shelf Second Hand Furniture Market size was estimated at USD 21.30 billion. The report covers the Off-The-Shelf Second Hand Furniture Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Off-The-Shelf Second Hand Furniture Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What opportunities are available in the Off-the-Shelf Second-Hand Furniture Market?
The Opportunities are available in the Off-the-Shelf Second-Hand Furniture Market are a) Growing consumer-to-consumer (C2C) and business-to-consumer (B2C) online stores b) The expansion of e-commerce, especially with the increasing use of mobile devices for transactions
What are the key segments of the Second Hand Furniture Market?
The key segments of the Second Hand Furniture Market are a) Type: Kitchen Furniture, Dining Furniture and Living Room Furniture b) Application: Residential and Commercial c) Distribution Channel: Online and Offline
Off The Shell Second Hand Furniture Industry Report
The global off-the-shelf second-hand furniture market is experiencing significant growth, driven by factors such as rising awareness of environmental sustainability, cost-saving benefits, and the increasing availability of second-hand furniture through online and offline channels. Key market segments include kitchen furniture, dining furniture, living room furniture, bathroom furniture, bedroom furniture, and outdoor furniture. The market is also segmented by application into residential and commercial uses, and by distribution channel into online and offline sales. The secondhand furniture market is characterized by a dynamic ecosystem where economic trends, technological innovations, and regulatory shifts collectively propel its evolution. The second-hand furniture market promotes sustainability by reducing the need for manufacturing inputs and lowering the carbon footprint. The used furniture market presents significant opportunities for investors, making it an attractive destination for capital deployment and strategic investments. Off-the-shelf second-hand furniture analysis includes a market forecast outlook, historical overview, share and size provided by Mordor Intelligence™ Industry Reports. Get a sample of this industry analysis as a free report PDF download to stay updated on the latest trends and opportunities in the 2nd hand furniture market.
