The market is growing rapidly due to the rising availability of second-hand furniture products across both online and offline channels. Consumers are adopting various furniture designs which are able to meet their needs.
New York, March 04, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "OFF-THE-SHELF SECOND HAND FURNITURE MARKET - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06030489/?utm_source=GNW
- 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 the second-hand furniture in upcoming years.
- On average, second-hand furniture is more than 50% cheaper which allows the consumers access to the products at comparatively less cost. Low cost being the primary factor is estimated to expand the market.
- Rising millennial population across the countries such as India and China has been paving the way for rising sales through the online channels. This will positively impact the supply of second-hand furniture through online channels.
- The growth of the market is owing to the cost saving benefits of the second-hand furniture and the increasing desire of consumers to save money across the globe.
Key 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 2017 is anticipated to have the largest share during the forecast period. However, on the rise of an increasing number of smartphone users and increasing penetration of the 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 Off-the-Shelf Second Hand Furniture Market is segmented by regions into North America, South America, Europe, Asia-Pacific and the Middle East and Africa. 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.
The report covers major international players operating in the Off-the-Shelf Second Hand Furniture Market. The India mattresses market is domestically dominated by players such as IKEA, Beveraly 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 by tapping new markets.
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Read the full report: https://www.reportlinker.com/p06030489/?utm_source=GNW
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