The secondhand goods industry has been growing in popularity across Asia Pacific. This is influenced by the allure of discovering reasonably priced, high-quality goods and a rising consciousness of sustainability & environmental issues among consumers.
NEWARK, Del, Dec. 11, 2023 (GLOBE NEWSWIRE) — As per newly released data by Future Market Insights (FMI), the Asia Pacific secondhand goods industry is expected to be worth US$ 77,914.5 million in 2024 and US$ 1,96,645.8 million in 2034. The industry is expected to surge at a 9.7% CAGR from 2024 to 2034.
The secondhand goods industry is driven by the growing awareness of environmental issues and the convenience & ease of buying and selling secondhand goods online. The rising middle-class population has considerably aided the spread, including increasing awareness of sustainability and demand for unique & vintage items. With more discretionary income, consumers are interested in sustainable and affordable purchasing options, making used items desirable.
A significant factor propelling the expansion of the secondhand goods industry is the growing focus on environmental awareness and sustainability. Purchasing used goods helps prolong the life of products and lowers the demand for new manufacturing, which promotes a more circular and sustainable economy.
To save money, consumers frequently resort to secondhand businesses. As pre-owned goods are usually less expensive than their new equivalents, they are a desirable choice for those on a tight budget. This affordability applies to several interests, including electronics and apparel.
Get a Sample Copy of this Report at: https://www.futuremarketinsights.com/reports/sample/rep-gb-18613
The second-hand goods industry has changed with the development of online marketplaces. Connecting and conducting business has become simpler for consumers and sellers due to Facebook Marketplace, eBay, Craigslist, and specialized resale applications.
Expanding mobile apps and e-commerce platforms has been crucial to developing the secondhand goods industry. With the help of websites such as Shopee, Lazada, Carousell, and eBay, it is simpler for customers to buy & sell used goods. This trend has been made more accessible by the increasing use of cell phones and the rising popularity of mobile applications for secondhand shopping.
Key Takeaways from the Asia Pacific Secondhand Goods Industry Report:
- The beauty and health segment by product type is projected to gain traction over the forecast period with a CAGR of 18.4%.
- The Asia Pacific secondhand goods industry is expected to be worth US$ 77,914.5 million in 2024.
- The Asia Pacific secondhand goods industry is expected to reach a valuation of US$ 1,96,645.8 million in 2034.
- The Asia Pacific secondhand goods business is projected to surge at 9.7% CAGR from 2024 to 2034.
- Japan is projected to surge at a CAGR of 9.0% by 2034.
“Countries such as Japan and South Korea have a culture of thrift shopping, and buying pre-owned goods is deeply ingrained. Rising environmental consciousness, cost-effectiveness, and a growing preference for unique items have further driven the growth of the secondhand goods industry in the Asia Pacific,” Says Sneha Verghese, Senior Consultant for Consumer Goods and Products at Future Market Insights (FMI).
Get Instant Access to Our Detailed Report: https://www.futuremarketinsights.com/checkout/18613
Competitive Landscape
The Asia Pacific secondhand goods industry, boasts a vibrant and diverse competitive landscape driven by consumer interest in cost-effective alternatives. Online marketplaces such as Carousell, Rakuten, and OLX have become vital hubs for buying and selling secondhand items, offering several categories, from fashion and electronics to home goods.
The Asia Pacific secondhand goods industry is poised for continued expansion, fuelled by evolving consumer preferences favoring sustainability, affordability, and diverse choices. As players innovate and adapt to meet changing demands, the landscape will likely witness further evolution and intensifying competition in the years ahead.
For instance,
- In 2023, SaSa was honored with the “2023 Greater Bay Area Most Outstanding Business Awards” by CORPHUB.
- In 2022, the e-commerce behemoth Amazon invested in Cashify, a re-commerce platform specializing in electronic devices like mobile phones and laptops.
Scope of the Report:
| Attribute | Details | |
| Estimated Industry Value (2024) | US$ 77,914.5 million | |
| Projected Industry Value (2034) | US$ 1,96,645.8 million | |
| Anticipated Growth Rate (2024 to 2034) | 9.7 % | |
| Forecast Period | 2024 to 2034 | |
| Historical Data Available for | 2019 to 2023 | |
| Industry Analysis | US$ million for Value | |
| Key Countries Covered |
| |
| Key Segments Covered |
| |
| Key Companies Profiled |
| |
| Report Coverage | Forecast, Company Share Analysis, Competition Intelligence, Dynamics and Challenges, and Strategic Growth Initiatives | |
Request the Full Report Methodology Now: https://www.futuremarketinsights.com/request-report-methodology/rep-gb-18613
Asia Pacific Secondhand Goods Industry Outlook by Category:
By Product Type:
- Apparel/Fashion
- Women’s
- Men’s
- Baby/Kids
- House, Garden, Do-It-Yourself
- Consumer Electronics
- Media and Entertainment
- Consumer Appliances
- Beauty and Health
- Toys
- Leisure, Sports, and Fitness
- Pet Supplies
By Sales Channel:
- Thrift Stores/Resale Stores
- Online Market Places
- Consignment Shops
- Other Channels
About the Consumer Products Division at Future Market Insights (FMI)
Expert analysis, actionable insights, and strategic recommendations – the consumer products team at Future Market Insights (FMI) helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the consumer products industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
Authored by:
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
Explore FMI’s Extensive Ongoing Coverage on Consumer Product Domain:
- The sunglasses market is estimated to be valued at US$ 32,171.4 million in 2024. The value of the market was US$ 30,236.3 million in 2023. The progress of the market is expected to be at a CAGR of 6.0% from 2024 to 2034. The sunglasses market is expected to reach US$ 57,614.1 million by 2034.
- The dye sublimated apparel market size reached US$ 4533.7 million in 2023. The demand for dye sublimated apparel is anticipated to rise at a 12.40% CAGR over the forecast period. The total valuation of the market is predicted to increase from US$ 5,100.4 million in 2024 to US$ 16,416 million in 2034.
- The global market for laptop carry cases is anticipated to be worth around US$ 1,803.00 million in 2024. The market is predicted to grow at a steady rate of 6.80% between 2024 and 2034, reaching a valuation of US$ 3,481.10 million by 2034.
- The global cold plunge tub market size was US$ 318.6 million in 2023. The global cold plunge tub market is anticipated to increase to US$ 552.7 million by 2034 from US$ 332.9 million in 2024. The cold plunge tub sales are projected to strengthen at a 5.2% CAGR from 2024 to 2034.
- Demand for lifestyle sneakers in the United Kingdom is anticipated to exhibit a promising CAGR of 6.10% through 2034. In 2023, the UK lifestyle sneaker industry was valued at US$ 53,471.4 million. The lifestyle sneaker sales are expected to grow considerably, from US$ 56,893.6 million in 2024 to around US$ 1,02,853.1 million by 2034.
About Future Market Insights, Inc. (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
