Global OFF THE SHELF Second Hand Furniture
Market Report
2024
The Global OFF The SHELF Second Hand Furniture market size is USD 21.1 billion in 2023 and will expand at a compound annual growth rate (CAGR) of 7.00% from 2023 to 2030
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, The Global OFF The SHELF Second Hand Furniture market size is USD 21.1 billion in 2023 and will expand at a compound annual growth rate (CAGR) of 7.00% from 2023 to 2030 Major market participants in off-the-shelf used furniture use a variety of tactics to preserve and grow their market presence.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global OFF THE SHELF Second Hand Furniture Market Sales Revenue 2023 | $ 21.1 Billion |
Global OFF THE SHELF Second Hand Furniture Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 7% |
Middle East and Africa OFF THE SHELF Second Hand Furniture Market Sales Revenue 2023 | $ 0.63 Billion |
Middle East and Africa OFF THE SHELF Second Hand Furniture Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 0.3% |
North America OFF THE SHELF Second Hand Furniture Market Sales Revenue 2023 | $ 6.33 Billion |
North America OFF THE SHELF Second Hand Furniture Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 6.33% |
Europe OFF THE SHELF Second Hand Furniture Market Sales Revenue 2023 | $ 6.12 Billion |
Europe OFF THE SHELF Second Hand Furniture Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 6.12% |
Asia Pacific OFF THE SHELF Second Hand Furniture Market Sales Revenue 2023 | $ 6.96 Billion |
Asia Pacific OFF THE SHELF Second Hand Furniture Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 7.6% |
South America OFF THE SHELF Second Hand Furniture Market Sales Revenue 2023 | $ 1.06 Billion |
South America OFF THE SHELF Second Hand Furniture Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 1.06% |
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List of Competitors |
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Country Analysis |
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Key Qualitative Information Covered |
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Report scope is customizable as we have a huge database of OFF THE SHELF Second Hand Furniture industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
OFF THE SHELF Second Hand Furniture Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Product innovation, such as long-lasting formulas and a wide variety of color options, aggressive marketing efforts that make use of social media and influencer relationships, growing e-commerce channels, and highlighting sustainability with eco-friendly packaging are some of these tactics. They also spend money on research to learn about consumer trends and preferences helps them make sure their products meet changing standards for fashion and beauty. In the competitive off the shelf second hand furniture market, these tactics assist major players in gaining a sizable market share and maintaining their competitiveness.
For instance, in June 2022, IKEA introduced GREAKER, a new drawer cabinet with extra stability and safety measures intended to reduce furniture tip-over, one of the most dangerous safety challenges facing the furniture industry.
Thoughtful furniture purchases and recycling may not seem like big deals, but if enough people use them, they may make a big difference. Steelcase, a furniture manufacturer and designer, is shifting to a circular economy business model and attempting to construct more easily disassembled and recyclable furniture. For a business or organization, waste management expenses might account for up to 4% of total expenses on average. A greater awareness of furniture garbage, or "f-waste," has arisen with the rise in popularity of flat-pack furniture companies.
For instance, IKEA disclosed that it was testing a program in Switzerland for renting out office supplies. Similar to Feather, a number of furniture rental companies cater to urban millennials who may not wish to settle down.
One of the biggest global users of internet marketing techniques for both household and commercial use is the furniture business. The primary causes of the global construction boom and the increase in investments in residential and commercial infrastructure are the furnishings market's upward trends. The number of restaurants, resorts, hotels, and shopping centers will rise in industrialized nations due to increased affluence and disposable income levels. New technology, design, and materials allow producers to innovate more quickly, which benefits luxury and creative furniture stores as well.
For instance, in September 2022, IKEA and the Swedish House Mafia collaborated to enable many music lovers to share their ideas and democratize the process of creating music at home. The result is the OBEGRNSAD collection, which consists of over 20 items and will go on sale globally in October 2022.
An antique piece of furniture will not be durable because it has already weathered the test of time. Although house furnishings do not have an expiration date like packaged foods, most people no longer purchase them with the intention of using them forever. A more mobile culture, a greater range of furniture price options, and changing tastes have all contributed to the creation of a new average lifespan for furniture. Most things have a lifespan of several years on average. The quantity of daily use, the level of maintenance needed, and the original materials used in the furniture's creation all matter a lot.
The global market for off-the-shelf second-hand furniture is significantly impacted by the COVID-19 pandemic. The number of people working remotely from home and staying at home has increased demand for reasonably priced, cozy furnishings. Consequently, there is now a greater market for used furniture. Nevertheless, the epidemic has also hampered supply chains, delayed shipment, and created logistical problems, all of which have impacted the availability of used furniture.
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The major players adopt new tactics quickly in order to gain a competitive advantage and take a substantial portion of the market. To serve a sizable customer base and obtain a competitive advantage, the key players in the Off The Shelf Second Hand Furniture industry place a strong emphasis on extending their unique offers.
Top Companies Market Share in OFF THE SHELF Second Hand Furniture Industry: (In no particular order of Rank)
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As per Cognitive Market Research, the Asia Pacific region held a dominant position in the market in 2023, contributing over 33% of the worldwide revenue. The most advanced digital economy has emerged in Asia-Pacific. Due to the growing demand for second hand furniture, a large number of new players have entered the market and are conducting business through various online platforms. Businesses are making a range of acquisitions to expand their reach, seize chances, and spur expansion. For example, Flipkart has successfully acquired eBay India, an online auction company. Flipkart primarily uses eBay India to sell used items to its customers through its product exchange programs.
North America is the category growing at the fastest rate. Because it is now easier to find used furniture through both online and offline means, the off-the-shelf second-hand furniture market in North America is expanding quickly. A vast range of furniture designs are being adopted by consumers in order to meet their wants. The availability of goods at enticing price points is influencing the adoption of used furniture, and this is predicted to have a major effect on the used furniture market in the coming years.
The current report Scope analyzes OFF THE SHELF Second Hand Furniture Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!
According to Cognitive Market Research, the Middle East and Africa accounted for 3% of worldwide revenue in 2023 and are projected to rise at a CAGR of 0.3%. The market for off-the-shelf used furniture thrift stores in the Middle East and Africa has better growth prospects because of increased customer trust in online platforms, fair costs, and growing public awareness. The residential segment will hold the largest market share in this region because of the growing disposable income of middle class people. In summary, this sector's market is expected to expand in the years to come and account for 7.2% of the entire projected market value by 2030.
According to Cognitive Market Research, North America is anticipated to develop at the fastest rate in 2023, accounting for 30% of global revenue and expanding at a CAGR of 6.33% after that. As vintage furniture becomes more widely available through internet merchants like eBay and Amazon, the demand for it is predicted to expand in North America. The market for used furniture is expected to be significantly impacted by the adoption of used furniture in the upcoming years due to the availability of products at attractive price points. Owing to the region's robust expansion in the secondhand furniture sector, the commercial category continued to have the largest market share. In conclusion, because used furniture is now more widely available through both online and offline channels, the off-the-shelf second-hand furniture market in North America is expanding quickly. Consumers are embracing a variety of furniture styles to meet their demands.
According to Cognitive Market Research, Europe held 29% of the share of total market revenue and is anticipated to grow at a CAGR of 6.12%. Germany and the UK are the two nations that control the majority of the European market for used off-the-shelf furniture. Because of their rising popularity and consumers' increased desire to get the most return on investment, charity stores are predicted to overtake other offline shopping destinations as the main destination for second-hand furniture products during the projection period. These elements are anticipated to fuel the expansion of Europe's off-the-shelf second-hand furniture market. Due to the region's developing hotel and restaurant industries, the dining furniture segment maintained the biggest market share. In conclusion, customers' growing desire to cut costs across Europe is driving the industry's growth.
According to Cognitive Market Research, Asia Pacific had a substantial market share in 2023, accounting for over 33% of global revenue, and is expected to grow at a CAGR of 7.60%. The digital economy has grown to be the most advanced in Asia-Pacific. The growing demand for used furniture is attracting a lot of new entrants into the market, and they are conducting business via a range of online platforms. Commercial segment held the largest market share in this region as businesses are making a variety of acquisitions to increase their market share, seize opportunities, and spur expansion. In conclusion, the increased use of e-commerce in this region is driving up the market for off-the-shelf used furniture.
Cognitive Market Research estimates that in 2023, sales of off-the-shelf used furniture will earn over 5% of worldwide revenue, and will grow at a CAGR of 1.06% in Latin America. The off-the-shelf used furniture market in Latin America is defined by a number of variables, all of which are essential to the expansion and advancement of the sector. The quickly changing online markets and increased disposable income have led to tremendous growth in the industry. The commercial segment held the largest market share in this region as the hotel and restaurants businesses are growing due to increase in tourism. In conclusion the market for off the shelf second hand furniture is growing in this region at a steady rate as thee disposable income of individuals grows.
Global OFF THE SHELF Second Hand Furniture Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing OFF THE SHELF Second Hand Furniture Industry growth. OFF THE SHELF Second Hand Furniture market has been segmented with the help of its Type, Application Distribution Channel, and others. OFF THE SHELF Second Hand Furniture market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, living rooms held the major market share over the forecast period. Hardwoods like oak and maple provide sturdy, long-lasting furniture. Avoid softwoods such as pine lumber when buying used wood furniture, especially couches. Pine is an excellent material for lightweight or low-pressure things in general, and before making any purchases, consider how durable the wood is that is used to make sofas and other living room furniture.
A large amount of the total cost of a kitchen remodel may go into kitchen cabinets. However, purchasing second hand or used kitchen cabinets might help down the substantial cost of new ones. In the market for used kitchen furniture, functioning cabinets are frequently sold as used items. For a long time, working cabinets have been a standard feature in kitchens.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of OFF THE SHELF Second Hand Furniture Industry. Request a Free Sample PDF!
According to Cognitive Market Research, the residential segment holds a prominent market share. The increasing need for new residential development projects in metropolitan areas to accommodate urban migration and the expanding global population are key factors driving demand for this category. Furthermore, it is anticipated that the market's growth prospects will be supported throughout the forecast period by the real estate industry's various promotional programs and consumers' increasing spending power.
The commercial business is rising as a result of the increasing demand for second hand furniture in offices and other commercial spaces. Small business owners usually have to make a lot of modifications within a tight budget in order to cover the costs of employee salaries and office rent. By selecting used furniture over new while furnishing the office with furniture and other assets, small business owners can also cut additional costs.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the OFF THE SHELF Second Hand Furniture market report 2024 Edition by contacting our team.
According to Cognitive Market Research, offline holds a prominent market share. Offline retailers can expedite the shopping process by providing a better experience, relevant information, and design specialists' guidance. The market is expected to be propelled by the increasing need to optimize return on investment as well as the quick ascent of charity shops to the top of the offline used furniture product buying hierarchy.
The online sector are the fastest-growing category over the forecast period. The changes brought about by the expansion of the internet and e-commerce have been warmly welcomed by millennials and this has had a big impact on the furniture industry. One of the things propelling the expansion of online businesses in the industry is the growing number of people using social media and digital platforms.
Research Analyst at Cognitive Market Research
I am a research analyst working in various domains including the Consumer Goods domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.
I am a research analyst working in various domains including the Consumer Goods domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.
I am committed to continuous learning and staying abreast of emerging trends in research methodologies. Regular participation in workshops, webinars, and industry conferences ensures that my skills remain sharp and relevant. I spearheaded research initiatives focused on market trends, customer behavior, and competitive landscapes. I have a demonstrated ability to transform complex data sets into clear and concise narratives that inform key business strategies. Collaborating with cross-functional teams, I played a pivotal role in shaping successful projects that hinged on robust research and analysis.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global OFF THE SHELF Second Hand Furniture Market is witnessing significant growth in the near future.
In 2023, the Kitchen Furniture segment accounted for noticeable share of global OFF THE SHELF Second Hand Furniture Market and is projected to experience significant growth in the near future.
The Residential segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies IKEA , Steelcase and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Disclaimer:
Type | Kitchen Furniture, Dining Furniture, Living Room Furniture, Bathroom Furniture, Bedroom Furniture, Outdoor Furniture |
Application | Residential, Commercial |
Distribution Channel | Online, Offline |
List of Competitors | IKEA, Beverly Hills Chairs, Steelcase, London Aerons, Rework Chicago, eBay Inc., Craiglist, Etsy, Lushpad, Yelp, AptDeco, Furnished |
This chapter will help you gain GLOBAL Market Analysis of OFF THE SHELF Second Hand Furniture. Further deep in this chapter, you will be able to review Global OFF THE SHELF Second Hand Furniture Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
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Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America OFF THE SHELF Second Hand Furniture Market Trends North America OFF THE SHELF Second Hand Furniture Technological Road Map North America OFF THE SHELF Second Hand Furniture Market Drivers North America OFF THE SHELF Second Hand Furniture Market Restraints North America OFF THE SHELF Second Hand Furniture Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
You can purchase only the Executive Summary North America Market (2019 vs 2024 vs 2031)
Chapter 3 Europe Market Analysis
You can purchase only the Executive Summary Europe Market (2019 vs 2024 vs 2031)
Chapter 4 Asia-Pacific Market Analysis
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Chapter 5 South America Market Analysis
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Chapter 6 Middle East and Africa Market Analysis
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Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
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Chapter 11 Market Split by Application Analysis 2019 -2031
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Chapter 12 Market Split by Distribution Channel Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global OFF THE SHELF Second Hand Furniture market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Kitchen Furniture have a significant impact on OFF THE SHELF Second Hand Furniture market? |
What are the key factors affecting the Kitchen Furniture and Dining Furniture of OFF THE SHELF Second Hand Furniture Market? |
What is the CAGR/Growth Rate of Residential during the forecast period? |
By type, which segment accounted for largest share of the global OFF THE SHELF Second Hand Furniture Market? |
Which region is expected to dominate the global OFF THE SHELF Second Hand Furniture Market within the forecast period? |
Segmentation Level Customization |
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