The global off-the-shelf second-hand furniture hit a significant high in the year 2018 and is expected to grow exponentially between the years 2015-2024. The industry is expected to grow exponentially at a compound annual growth rate of 6%. The off-the-shelf second-hand furniture is characterized by several factors, with each factor playing a crucial role in the growth and development of the industry. The rapidly evolving online marketplaces combined with a rise in disposable income, has helped the industry grow by leaps and bounds.
The growing awareness among people, affordable pricing, and the trust on the online platforms have boosted the growth prospects of the off-the-shelf second-hand furniture industry. On the other hand, the rise in disposable income and extensive penetration of advanced internet facilities has helped the industry grow by leap and bound. On the other hand, the extensive money-saving facility has propelled growth further in developing countries across the globe. The growth opportunity of the off-the-shelf second-hand furniture industry has helped the industry grow by leap and bound in the years around the world.
However, despite being a popular option, the industry is looked at with skeptic’s eyes. The rising number of fraudulent cases, coupled with a lack of verification process in place, has affected the growth prospects of the industry negatively. However, despite the challenges, analysts predict a strong growth potential of off-the-shelf second-hand furniture. This, in turn, has led the investors to bet aggressively on the growth prospects of the industry. The industry is expanding rapidly and hence acts as a massive opportunity.
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The global off-the-shelf second-hand furniture industry can be segmented in several ways based on several critical factors, with each factor playing an essential role in the growth of the sector. The segmentation based on which the industry is segmented into are by type, by application, and by distribution channel. Based on type, the industry is segmented into kitchen furniture, dining furniture, indoor furniture, outdoor furniture, bathroom furniture, and others. On the other hand, based on the application, the global off-the-shelf second-hand furniture industry is segmented into residential and commercial. Based on the distribution channel, the industry is segmented into online and offline channels.
The global off-the-shelf second-hand furniture industry finds its most significant share in the Asia Pacific region. The rise in several online marketplaces selling second-hand products coupled with growing per capita has helped the industry flourish in the area. Other significant nations like the United States show some great signs of growth and hence pose great potential. The offline presence of the industry shows great sign of growth too and thus has attracted significant investors all across the globe.
A latest report highlighted the growth aspects of the global off-the-shelf second hand furniture industry. The reported highlighted key drivers of growth and the major players in the industry. The report as discussed the role of technology as an enabling factor
Table Of Content:
2. Research Methodology
3. Executive Summary
4. Market Forces
5. Market Outlook by Type (Current size & future market estimates)
6. Market Outlook by Function (Current size & future market estimates)
7. Market Outlook by Application (Current size & future market estimates)
8. Market Outlook by Regions (Current size & future market estimates)
9. Competitive Landscape
10. Company Profiles Includes: Company Overview, Product & Services Offerings, Financials (only for listed companies), New Developments and Innovation)
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