Global Off The Shelf Second Hand Furniture Market Overview
As per MRFR analysis, the Off the Shelf Second Hand Furniture Market Size was estimated at 17.12 (USD Billion) in 2022.
The Off the Shelf Second Hand Furniture Market industry is expected to grow from 18.62(USD Billion) in 2023 to 39.7 (USD Billion) by 2032. The Off The Shelf Second Hand Furniture Market CAGR (growth rate) is expected to be around 8.78% during the forecast period (2024 - 2032).
Key Off the Shelf Second Hand Furniture Market Trends Highlighted
The global market for off-the-shelf second-hand furniture is experiencing significant growth, driven by a surge in consumer demand for sustainable and affordable home furnishings. The increasing popularity of online marketplaces and the growing awareness of environmental concerns are key market drivers.
The trend towards smaller living spaces in urban areas and the desire for unique and eclectic décor are also contributing to the demand for second-hand furniture. This market offers opportunities for businesses to cater to the evolving preferences of eco-conscious and cost-savvy consumers.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Off The Shelf Second Hand Furniture Market Drivers
Changing Consumer Preferences
One important trend causing a shift in consumer preferences away from first-hand furniture towards second-hand furniture is the increased interest in sustainability and the fact that consumers are becoming increasingly aware of the environmental impact of fast furniture. People are looking for unique, vintage and eco-friendly furniture and this is the reason why the off-the-shelf second-hand furniture market is growing. Another factor causing growth is the upcycling and restoration of furniture from the past since this is a growing trend.In conclusion, the Off The Shelf Second Hand Furniture Market is growing because of the increased popularity of sustainable and eco-friendly products.
Economic Factors
The lowering of disposable income due to the global economic downturn and rising inflation has made the consumer much more price sensitive. Therefore, as the customer opts for more cost effective version, there is a growing percentage of customers opting for second-hand furniture. The Off The Shelf Second Hand Furniture Market is expected to benefit from the growing consciousness of costs among consumers.
Technological Advancements
Due to online markets and plethora of mobile applications it became much easier for people to buy or sell any kind of second-hand furniture. It presents a simple and accessible way for customers to connect with local sellers, and find unique and cheap furniture. Consequently, the Off The Shelf Second Hand Furniture Market is expected to be driven by adoption of online platforms.
Off The Shelf Second Hand Furniture Market Segment Insights
Off The Shelf Second Hand Furniture Market Product Type Insights
The Off The Shelf Second Hand Furniture Market is segmented by product type into furniture, home décor, lighting, and other accessories. Among these segments, furniture holds the largest market share, accounting for over 60% of the global revenue in 2023. The dominance of furniture can be attributed to the increasing demand for used furniture due to its affordability, sustainability, and unique designs. Home décor is another significant segment, with a market share of around 25%. Consumers are increasingly opting for used home décor items to add character and style to their homes without breaking the bank.Lighting and other accessories also contribute to the market, with growing popularity among consumers looking for budget-friendly ways to enhance their living spaces. The overall Off The Shelf Second Hand Furniture Market is projected to witness steady growth in the coming years, driven by rising consumer awareness about sustainability, affordability, and the desire for unique and vintage items.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Off The Shelf Second Hand Furniture Market Material Insights
The Off The Shelf Second Hand Furniture Market is segmented on the basis of Material into Wood, Metal, Fabric, Plastic, and Glass. The Wood segment held the largest market share in 2023, accounting for over 30% of the Off The Shelf Second Hand Furniture Market revenue. The Metal segment is expected to witness the highest market growth during the forecast period, owing to its durability and affordability. The Fabric segment is also expected to witness significant growth, due to the increasing popularity of upholstered furniture. The Plastic segment is expected to hold a small market share, due to its low durability and environmental concerns.The Glass segment is also expected to hold a small market share, due to its fragility and high cost. Overall, the Off The Shelf Second Hand Furniture Market is expected to witness significant growth over the forecast period, driven by the increasing popularity of second-hand furniture, the rising demand for sustainable furniture, and the growing number of online marketplaces for second-hand furniture.
Off The Shelf Second Hand Furniture Market Price Range Insights
The Price Range segment is a crucial aspect of the Off The Shelf Second Hand Furniture Market segmentation. It categorizes the market based on the price range of second-hand furniture items. The 'Low (Under $100)' segment caters to consumers seeking affordable options for basic furniture needs. In 2023, this segment held a significant market share of approximately 37.2%. The 'Mid (Between $100 and $500)' segment targets consumers willing to pay more for better quality and design options. It accounted for around 42.8% of the market in 2023 and is expected to witness steady growth in the coming years.The 'High (Over $500)' segment caters to a niche market of discerning consumers seeking high-end and exclusive second-hand furniture items. This segment is projected to grow at a CAGR of 9.4% during the forecast period, driven by increasing demand for luxury and vintage furniture.
Off The Shelf Second Hand Furniture Market Sales Channel Insights
The Off The Shelf Second Hand Furniture Market is segmented by Sales Channel into Online Marketplaces, Thrift Stores, Garage Sales, and Auctions. Among these, Online Marketplaces are expected to dominate the market in the coming years due to the increasing popularity of online shopping and the convenience it offers. In 2023, the Off The Shelf Second Hand Furniture Market revenue from Online Marketplaces is projected to be around USD 10.2 billion, and it is estimated to reach USD 19.3 billion by 2032, exhibiting a CAGR of 8.5%. Thrift Stores, on the other hand, are expected to witness steady growth, primarily driven by the growing trend of thrifting and the affordability it provides.Garage Sales and Auctions are expected to remain niche segments, contributing a smaller share to the overall market revenue.
Off The Shelf Second Hand Furniture Market Condition Insights
The condition segment of the Off The Shelf Second Hand Furniture Market is categorized into Excellent, Good, Fair, and Poor. The Excellent condition segment held the largest market share in 2023, accounting for around 40% of the Off The Shelf Second Hand Furniture Market revenue. This is attributed to the increasing demand for high-quality used furniture that is in near-new condition. The Good condition segment is expected to grow at a significant CAGR during the forecast period, owing to the rising popularity of online marketplaces that offer a wide variety of used furniture in good condition at affordable prices.The Fair and Poor condition segments are expected to have a moderate market share, as they cater to budget-conscious consumers who are willing to purchase used furniture with some wear and tear.
Off The Shelf Second Hand Furniture Market Regional Insights
Regionally, North America held the largest market share in 2023, accounting for over 35% of the global revenue. The region's mature furniture market and growing consumer preference for sustainable and affordable options contribute to its dominance. Europe follows North America, capturing a significant market share due to rising urbanization and increasing disposable income. The APAC region is projected to witness the fastest growth over the next decade, driven by the expanding middle class, growing awareness about sustainability, and the presence of a large youth population.South America and MEA are expected to contribute a smaller but steadily growing share to the global market.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Off The Shelf Second Hand Furniture Market Key Players And Competitive Insights
The major players are focusing on new product development. For instance, in 2023, Chairish, a leading online marketplace for vintage and antique furniture, has launched a contemporary furniture product line. Additionally, this company has entered Canada, representing its first step in international expansion. Other participants, such as AptDeco and Decaso, are focusing on marketing and advertising campaigns that raise public awareness and attract more customers. AptDeco, Inc. is a prominent player in the Off The Shelf Second Hand Furniture Market. This company offers a variety of furniture including sofas, chairs, tables, and beds. Additionally, this product offering provides convenience as customers can select various items of furniture. Furthermore, this organization offers free delivery and assembly services, making shopping as convenient as possible. Nowadays companies that operate in this industry must consider environmental issues and enhance sustainability, and AptDeco has been able to achieve this goal. Decaso is another company that became a strong player in the Off The Shelf Second Hand Furniture Market. One of the reasons why it has become successful is a wide choice of high-quality offers that also meet the requirements of various styles including mid-century modern and contemporary products. Moreover, the company has implemented a number of quality control measures that allow it to greatly limit the risk of faults in the production of furniture. In addition to the quality of offers, the company is also valued by customers for its customer service that also includes high-quality white-glove delivery and setup services.
Key Companies in the Off The Shelf Second Hand Furniture Market Include
- eBay
- RetiqueIt
- Trove
- Furnishly
- The RealReal
- Wayfair
- Poshmark
- OfferUp
- Sotheby's Home
- AptDeco
- Chairish
- 1stDibs
- Facebook Marketplace
- Decaso
- Mercari
Off The Shelf Second Hand Furniture Market Developments
The Global Off-the-Shelf Secondhand Furniture Market is projected to reach USD 39.7 billion by 2032, exhibiting a CAGR of 8.78% over the forecast period from 2024 to 2032. The growing popularity of sustainable and eco-friendly practices is driving market growth, as secondhand furniture helps reduce waste and conserve resources. The increasing affordability and convenience of purchasing secondhand furniture through online marketplaces and specialized stores are further contributing to market expansion. Additionally, the rising trend of minimalism and downsizing is creating a demand for compact and portable furniture options, which secondhand furniture often provides. The market is expected to witness significant growth in emerging economies, where the demand for affordable and stylish furniture is growing rapidly.
Off The Shelf Second Hand Furniture Market Segmentation Insights
- Off The Shelf Second Hand Furniture Market Product Type Outlook
- Furniture
- Home Decor
- Lighting
- Other Accessories
- Off The Shelf Second Hand Furniture Market Material Outlook
- Wood
- Metal
- Fabric
- Plastic
- Glass
- Off The Shelf Second Hand Furniture Market Price Range Outlook
- Low (Under $100)
- Mid (Between $100 and $500)
- High (Over $500)
- Off The Shelf Second Hand Furniture Market Sales Channel Outlook
- Online Marketplaces
- Thrift Stores
- Garage Sales
- Auctions
- Off The Shelf Second Hand Furniture Market Condition Outlook
| Report Attribute/Metric |
Details |
| Market Size 2022 |
17.12(USD Billion) |
| Market Size 2023 |
18.62(USD Billion) |
| Market Size 2032 |
39.7(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
8.78% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
eBay ,RetiqueIt ,Trove ,Furnishly ,The RealReal ,Wayfair ,Poshmark ,OfferUp ,Sotheby's Home ,AptDeco ,Chairish ,1stDibs ,Facebook Marketplace ,Decaso ,Mercari |
| Segments Covered |
Product Type ,Material ,Price Range ,Sales Channel ,Condition ,Regional |
| Key Market Opportunities |
Ecommerce Expansion Growing Environmental Consciousness Urban Population Surge Upscale Secondhand Segment Social Commerce Channels |
| Key Market Dynamics |
Rising environmental awareness Growing disposable income Technological advancements Increasing urbanization Shifting consumer preferences |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Off The Shelf Second Hand Furniture Market was valued at USD 18.62 billion in 2023 and is projected to reach USD 39.7 billion by 2032, exhibiting a CAGR of 8.78% during the forecast period.
North America is expected to dominate the Off The Shelf Second Hand Furniture market throughout the forecast period, owing to the growing popularity of thrifting and vintage furniture, as well as the presence of a large number of second-hand furniture stores and online marketplaces.
The growth of the Off The Shelf Second Hand Furniture market is primarily attributed to increasing environmental consciousness, rising disposable incomes, and growing popularity of online marketplaces. Additionally, the COVID-19 pandemic has led to a shift in consumer spending towards more affordable and sustainable options, further favoring the growth of the market.
Some of the key competitors in the Off The Shelf Second Hand Furniture market include Goodwill Industries International, Salvation Army, eBay, Etsy, Craigslist, and Facebook Marketplace.
Off The Shelf Second Hand Furniture finds applications in various settings, including residential, commercial, and hospitality. It is commonly used in homes, apartments, offices, restaurants, and hotels, among others.
The Off The Shelf Second Hand Furniture market in the Asia-Pacific region is expected to exhibit a CAGR of 10.2% during the forecast period, owing to the increasing urbanization and rising disposable incomes in countries such as China, India, and Japan.
Key trends influencing the Off The Shelf Second Hand Furniture market include the growing popularity of online marketplaces, the emergence of subscription-based furniture rental services, and the increasing demand for sustainable and eco-friendly furniture options.
The Off The Shelf Second Hand Furniture market faces challenges such as the perception of used furniture being of lower quality, the lack of standardization in product quality, and the difficulty in verifying the authenticity of second-hand items.
The Off The Shelf Second Hand Furniture market is projected to generate revenue of around USD 24.5 billion by 2025, exhibiting a steady growth trajectory.
The COVID-19 pandemic had a significant impact on the Off The Shelf Second Hand Furniture market, leading to a temporary decline in sales due to store closures and reduced consumer spending. However, the market has since rebounded and is expected to continue growing in the coming years.
