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Second-hand Homeware Market Size
Second-hand Homeware Market size was valued at around USD 28.5 billion in 2023 and is estimated to register a CAGR of around 5.4% between 2024 and 2032. Customers are buying used household items to reduce wastage and lower their carbon footprint as they become more conscious of environmental deterioration and climate change. People are increasingly inclined to buy & sell used goods to prolong their lifespan as they support the circular economy, which recycles and reuses resources.
The accessibility of pre-owned household items might differ significantly based on one's geographical location, with certain areas offering a reduced selection. Buyer options may be limited by the rarity of certain homeware categories in the used market. Potential customers may lose faith in used home goods due to their variable quality. It can be difficult for purchasers to assess fair value for used goods as prices might vary widely.
Who are the leading second-hand homeware industry players?
1stDibs.com, Inc., AptDeco, Inc., Chairish, Inc., eBay Inc., Goodwill Industries International, Inc., IKEA Retail, Kaiyo Inc., Letgo , Mercari, Inc., and OfferUp Inc., among others.
Why is the second-hand homeware industry booming in North America?
North America second-hand homeware market held 37% revenue share in 2023 driven by consumer preference for cost-effective used furniture and sustainability efforts like IKEA's buy-back initiatives, supported by robust e-commerce platforms and mobile apps facilitating convenient transactions.
Why is the demand for second-hand furniture rising?
The furniture segment in the market is expected to reach USD 20.7 billion by 2032 owing to the rising trend in used furniture among budget-conscious consumers and the push for sustainability through resale and recycling initiatives.
What is the size of the second-hand homeware market?
Global second-hand homeware industry was valued at USD 28.5 billion in 2023 and is anticipated to register 5.4% CAGR between 2024 and 2032 due to the sustainability and environmental concerns along with increased acceptance of pre-owned goods.