The growth of the second hand home furnishing accessories market is thriving on the back of cost efficiency and environmental sustainability as the second hand home furnishing products are available at a much lower price from that of a new product and they do not require new resources that need to be consumed, hence reducing the pollution that is produced while manufacturing of the new products. Further, there is an increasing demand for unique customized products for home decor that drives the consumers towards the second hand furnishing market.
The global second hand home furnishing accessories market accounted for USD 4,923.0 Million in 2017 and is predicted to reach remarkable market valuation of USD 7,206.3 Million by the end of 2025 by expanding at a CAGR of 5.0% over the forecast period 2018-2025.
In terms of geography, the global second hand home furnishing accessories market is segmented by regions into North America, Latin America, Europe, Asia-Pacific and Middle East and Africa, out of which, Asia Pacific accounted for a dominant share of 37.1% during 2017 and is estimated to continue with its positive growth by expanding at a CAGR of 5.6% over the forecast period. The second dominant region in the market is North America that is estimated to grow on the back of availability of second hand goods along with changing consumer behavior as they can avail minimally used products at a much lower price to meet their furnishing needs. Further, Europe market is expected to expand at a CAGR of 4.4% during the forecast period i.e. 2018-2025 and is expected to mark Y-o-Y growth rate of 4.9% in 2025.
The global second hand home furnishing accessories market is further segmented by distribution channel into online stores and offline stores. Among these segments, the offline store segment occupies the largest market owing to the ease of consumers who can personally inspect the product for damages prior to the purchase. However, the online stores segment is growing at a faster rate around the globe as they open a window of options for the consumers to select from the variety of products listed online.
The Report titled “Global Second Hand Home Furnishing Accessories Market Outlook – Industry Demand Analysis & Opportunity Assessment 2017–2025” also includes some prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Global Second Hand Home Furnishing Accessories Market Outlook 2025”, analyses the overall second hand home furnishing accessories industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global second hand home furnishing accessories market in the near future.