Second-Hand Product Market Report 2024

Where is the largest and fastest growing market for second-hand product? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more. The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

The second-hand product market size has grown rapidly in recent years. It will grow from $376.48 billion in 2023 to $424.1 billion in 2024 at a compound annual growth rate (CAGR) of 12.6%. The growth during the historic period can be attributed to the expansion of online platforms, increased internet penetration, growing environmental concerns, greater availability of second-hand products, and rising sales.

The second-hand product market size is expected to see rapid growth in the next few years. It will grow to $685.21 billion in 2028 at a compound annual growth rate (CAGR) of 12.7%. The growth in the forecast period can be attributed to a rising interest in vintage and unique items, growing demand for sustainable consumption, and increased internet penetration. Major trends during this period include a heightened demand for affordable technology, greater awareness of environmental impacts, a shift towards sustainable fashion, increased use of online platforms, and advancements in technology.

The expanding availability of e-commerce platforms is expected to drive the growth of the second-hand product market. E-commerce platforms are online systems that facilitate the buying and selling of products or services over the internet, managing digital storefronts and transactions. The rise in e-commerce platforms is fueled by technological advancements that make it easier for businesses to reach global audiences and for consumers to shop conveniently online. E-commerce for second-hand products enables the convenient buying and selling of pre-owned items, which increases access to affordable goods and promotes sustainability. For example, according to the Census Bureau of the Department of Commerce in February 2024, e-commerce sales grew by 7.5% in the fourth quarter of 2023 compared to the same period in 2022. Thus, the growing availability of e-commerce platforms is contributing to the expansion of the second-hand product market.

Leading companies in the second-hand product market are focusing on innovative offerings such as second-hand clothing platforms to attract environmentally conscious consumers and meet the rising demand for sustainable fashion. These platforms, whether online or physical, allow individuals to buy and sell pre-owned garments. For instance, in September 2023, Zara, a Spain-based fast fashion company, introduced its pre-owned platform in France. This platform, named Zara Pre-Owned, allows customers to sell, repair, or donate second-hand clothing through Zara’s stores, website, and mobile app. Building on the success of its UK launch, the initiative aims to promote circular fashion practices by extending the life of clothing items and reducing waste. It includes a clothing repair service, an online marketplace for buying and selling used Zara items, and a home collection service for donations.

In July 2021, ThredUp Inc., a US-based provider of clothing exchange and recycling services, acquired Remix Global AD for €24 million ($26.13 million). This acquisition enables ThredUp to enter the European market by leveraging Remix’s established presence and operational capabilities in Central and Eastern Europe. Remix Global AD is a Bulgaria-based provider of second-hand products.

Major companies operating in the second-hand product market are Amazon.com Inc., Apple Inc., Samsung Electronics Co Ltd, Microsoft Corporation, Robert Bosch GmbH, HP Inc., Audi AG, Inter IKEA Systems B.V., Adidas AG, eBay Inc., Rolex Watch U.S.A. Inc., Levi Strauss & Co., Tiffany & Co., Eileen Fisher Inc., Nudie Jeans, Patagonia Inc., Breitling, Mud Jeans, Luxclusif, Madewel.

North America was the largest region in the second-hand product market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the second-hand product market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the second-hand product market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A second-hand product, also known as a used or pre-owned product, is an item that has been previously owned and used by someone other than the original purchaser. These products are often sold or donated by their previous owners and can be purchased at a lower price compared to new items. While second-hand products may show signs of wear and tear, they are generally still functional and usable.

The main types of second-hand products include furniture, clothing, vehicles, electronics, sporting goods, and others. Second-hand furniture refers to previously owned and used household or office furnishings that are resold. The pricing for second-hand products typically falls into mid-range and high-end segments, and they are distributed through various channels, both online and offline. Their applications span commercial, recreational, residential, and other uses, and they are utilized by individuals, businesses, and institutions.

The second-hand products market research report is one of a series of new reports that provides second-hand products market statistics, including second-hand products industry global market size, regional shares, competitors with a second-hand products market share, detailed second-hand products market segments, market trends and opportunities, and any further data you may need to thrive in the second-hand products industry. This second-hand products market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The second-hand product market consists of sales of vintage clothing, laptops, and top wear. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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