Sales of secondhand goods in Asia Pacific are estimated to be valued at US$ 71,025.1 million in 2023. Demand for secondhand goods recorded a y-o-y growth of 8.9% in 2023, and it is expected to reach US$ 77,914.5 million in 2024.
By 2034, Asia Pacific secondhand goods sales are projected to exhibit a 9.7% CAGR. It is anticipated to be valued at US$ 1,96,645.8 million.
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.
The industry is also growing due to shifting customer perceptions about secondhand goods. Nowadays, individuals are open to purchasing used goods such as apparel, gadgets, furniture, and more.
People are urged to consider used products as more environmentally responsible alternatives due to the emphasis on sustainable living and trash reduction. This is not just a consumer goods trend; it is also influencing sectors such as fashion, where interest in vintage and thrift store purchasing is rising.
The emergence of digital platforms and e-commerce has transformed Asia Pacific’s secondhand goods sector. Online marketplaces have created handy channels for buying and selling used products, allowing customers more extensive reach and accessibility.
Attributes | Key Insights |
---|---|
Base Value of Asia Pacific Secondhand Goods Industry (2023) | US$ 71,025.1 million |
Estimated Asia Pacific Secondhand Goods Industry Size (2024) | US$ 77,914.5 million |
Projected Estimated Asia Pacific Secondhand Goods Industry Revenue (2034) | US$ 1,96,645.8 million |
Value-based CAGR (2024 to 2034) | 9.7% |
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The Asia Pacific secondhand goods industry expanded significantly, owing mainly to changing consumer attitudes toward sustainability, cost-effectiveness, and increased acceptance of pre-owned items. This demonstrated a boom in the adoption of used items in a variety of sectors, including fashion, electronics, and furniture, driven by a growing middle class and an expanding internet economy.
Historical CAGR (2019 to 2023) | 6.8% |
---|---|
Forecast CAGR (2024 to 2034) | 9.7% |
The industry will likely surge exponentially as a result of several key factors. These factors include environmental consciousness among consumers. It is expected to drive demand for sustainable alternatives, consequently increasing the popularity of pre-owned items.
Changing economic landscapes, particularly in emerging economies, are anticipated to increase the acceptance of used items as a viable and often preferred alternative to new products. The industry will also benefit from rising circular economy initiatives and government regulations focused on decreasing waste and encouraging reuse. As a result, the Asia Pacific secondhand goods industry is estimated to rise at a significant CAGR of 9.7% during the forecast period.
Shift toward Conscious Consumerism
Emergence of Peer-to-peer Resale Models
E-commerce Penetration and Digital Platforms
The section brings to the fore key highlights of the secondhand goods industry across prominent countries in the Asia Pacific. Out of all the countries profiled, Australia and New Zealand are expected to remain a highly lucrative hub for secondhand goods companies, exhibiting a CAGR of 12.8%. Thailand, Japan, and India are anticipated to follow with CAGRs of 12.6%, 9.0%, and 7.5%, respectively.
Country | China |
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Growth Rate, 2024 to 2034 | 6.6% |
Country | Japan |
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Growth Rate, 2024 to 2034 | 9.0% |
Country | India |
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Growth Rate, 2024 to 2034 | 7.5% |
Country | Thailand |
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Growth Rate, 2024 to 2034 | 12.6% |
Country | Australia and New Zealand |
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Growth Rate, 2024 to 2034 | 12.8% |
The secondhand goods industry in China is thriving, driven by a confluence of factors, including rising environmental consciousness, evolving consumer preferences, and the proliferation of e-commerce platforms. As China's middle class expands, individuals are increasingly adopting a more sustainable approach to consumption, seeking alternatives to buying new goods.
The trend is fueling the growth of secondhand product providers, where consumers can find quality items at a fraction of the original price. Additionally, the millennial population in China is less brand-conscious than previous generations.
They are more open to purchasing secondhand goods. They appreciate the unique styles and stories associated with pre-loved items, which can be a growth-driving factor.
The rise of e-commerce platforms such as Xianyu and Zhuan Zhuan has revolutionized the secondhand shopping experience, providing convenient access to a vast array of secondhand goods. These platforms have streamlined transactions, enhanced product authenticity, and fostered a community of secondhand enthusiasts. As a result, the secondhand goods industry in China is poised for continued growth, driven by these synergistic factors.
Consumers are becoming more ecologically conscious, preferring to reuse and recycle products in Thailand. Furthermore, the economic component is critical, as a part of the population is looking for cost-effective solutions. Quality secondhand goods are frequently available at lower prices, appealing to budget-conscious shoppers.
The popularity of vintage and retro items among younger populations adds to the industry’s allure in Thailand. This cultural change toward recognizing one-of-a-kind objects has increased demand for used goods.
Government initiatives supporting sustainability and circular economy principles help to drive growth by encouraging thrift shopping and recycling. These elements are creating a booming secondhand goods sector in Thailand.
The Australia and New Zealand secondhand goods industry has been steadily growing in recent years, driven by environmental consciousness, economic considerations, and changing consumer attitudes. With an increasing awareness of the ecological impact of consumerism, more people are opting to buy used items, contributing to expansion.
The rise of online marketplaces and mobile apps has also made it easier for individuals to buy and sell secondhand goods, further fueling the growth of this sector. The government in the country has been implementing policies to support sustainable practices, including encouraging the purchase of used goods, which has contributed to expansion.
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The table below highlights growth projections of top segments in the Asia Pacific secondhand goods industry. Based on product type, the beauty and health segment is set to lead the industry during the assessment period, thriving at a CAGR of 18.4% through 2034. Based on the sales channel, the consignment shops segment is set to showcase a significant CAGR of 12.0% through 2034.
Growth Outlook by Key Product Type
Product Type | Beauty and Health |
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Value CAGR | 18.4% |
In the Asia Pacific secondhand goods industry, the beauty and health segment stands out prominently, experiencing a substantial surge in demand and supply. This segment encompasses a wide array of products, including pre-owned skincare, cosmetics, wellness devices, and health-related items.
Consumers across the Asia Pacific are increasingly gravitating toward sustainable consumption practices, fueling the growth of the secondhand industry for beauty and health products. The appeal lies not only in cost-effectiveness but also in the rising consciousness about reducing environmental impact. The expansion is further propelled by the emphasis on authenticity and quality assurance in the secondhand beauty and health domain.
Growth Outlook by Key Sales Channel
Sales Channel | Consignment Shops |
---|---|
Value CAGR | 12.0% |
Consignment shops play a prominent role in the secondhand goods industry in Asia Pacific. These shops serve as crucial sales channels due to their ability to attract sellers and buyers.
Consignment stores provide a platform for individuals to sell their used items while offering buyers access to pre-owned goods at competitive prices. Their popularity stems from the variety of items available, from clothing to electronics, furniture, and more.
Consumers are increasingly drawn to consignment shops due to the environmentally conscious aspect of reusing things and the potential for finding unique or vintage pieces. This trend in the Asia Pacific showcases a growing preference for sustainable shopping practices and the value placed on reducing waste by extending the lifecycle of products.
Several key players have emerged, each carving their niche within this burgeoning industry. Online marketplaces such as Carousell, Rakuten, and OLX have become vital hubs for buying and selling secondhand items. These have been offering several categories, from fashion and electronics to home goods.
The Asia Pacific secondhand goods industry is poised for continued expansion, fueled by evolving consumer preferences favoring sustainability, affordability, and diverse choices. As players innovate and adapt to meet the changing demands of consumers, the landscape will likely witness further evolution and intensifying competition in the years ahead.
For instance,
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 | China, Japan, India, South Korea, Indonesia, Thailand, Singapore, Malaysia, Hong Kong, Australia and New Zealand, Rest of Asia Pacific |
Key Segments Covered | Product Type, Sales Channel |
Key Companies Profiled | Carousell; OLX; Tokopedia; Reebelo; Sangeetha Mobiles; Cashify; Hamleys; BookMooch; Qoo10; My Toys; Nykaa; Flipkart; PetSmart; Pet Lovers Centre; Anchanto; Rakuten; SaSa; Kakaku.com; Toy "R" Us; Yahoo! Auctions Japan |
Report Coverage | Forecast, Company Share Analysis, Competition Intelligence, Dynamics and Challenges, and Strategic Growth Initiatives |
Demand in Asia Pacific is expected to rise at a CAGR of 9.7% through 2034.
Revenue in Asia Pacific is set to reach US$ 77,914.5 million in 2024.
Total sales are projected to reach US$ 1,96,645.8 million in 2034.
Emergence of peer-to-peer resale models and availability of more mindful consumers.
Carousell, OLX, and Tokopedia are key players.
1. Executive Summary 1.1. Industry Outlook 1.2. Demand Side Trends 1.3. Supply Side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Industry Overview 2.1. Coverage / Taxonomy 2.2. Definition / Scope / Limitations 3. Key Market Trends 3.1. Key Trends Impacting the Market 3.1.1. The Sustainability Imperative 3.1.2. Online Platforms Push Resale 3.1.3. Availability of More Mindful Consumers 3.1.4. Changing Retail Landscape 3.1.5. Others (during the course of the study) 3.2. Future Prospects of Industry 3.2.1. Factors Fueling Growth 3.2.2. Influx of Brands 3.2.3. Increasing Demand of Sustainable Products 4. Business - Pricing Analysis 4.1. Regional Pricing Analysis By Product Type 4.2. Pricing Break-up 4.2.1. Manufacturer Level Pricing 4.2.2. Distributor Level Pricing 4.3. Regional Average Pricing Analysis Benchmark 5. Demand (in Value or Size in US$ million) Analysis 2019 to 2023 and Forecast, 2024 to 2034 5.1. Historical Value (US$ million) Analysis, 2019 to 2023 5.2. Current and Future Value (US$ million) Projections, 2024 to 2034 5.2.1. Y-o-Y Growth Trend Analysis 5.2.2. Absolute $ Opportunity Analysis 6. Business Background 6.1. Macro-Economic Factors 6.1.1. GDP Growth Outlook 6.1.2. Industry Overview 6.1.3. Spending Outlook 6.1.4. Consumer Spending Outlook 6.1.5. Per Capita Income 6.2. Forecast Factors - Relevance and Impact 6.2.1. Top Companies Historical Growth 6.2.2. GDP Growth Forecast 6.2.3. Top Companies Historical Growth 6.2.4. Gross Value Added 6.2.5. Industry Outlook 6.2.6. Urbanization Growth Outlook 6.3. Value Chain 6.3.1. Profit Margin Analysis at each sales point 6.3.2. List and role of key participant 6.3.2.1. Manufacture 6.3.2.2. Distributors/Retailers 6.4. Dynamics 6.4.1. Drivers 6.4.2. Restraints 6.4.3. Opportunity Analysis 6.5. PESTLE Analysis of Business 6.6. Porter’s Five Force Analysis 7. Analysis 2019 to 2023 and Forecast 2024 to 2034, by Product Type 7.1. Introduction / Key Findings 7.2. Historical Size (US$ million) Analysis By Product Type, 2019 to 2023 7.3. Current and Future Size (US$ million) Analysis and Forecast By Product Type, 2024 to 2034 7.3.1. Apparel/Fashion 7.3.1.1. Women’s 7.3.1.2. Men’s 7.3.1.3. Baby/Kids 7.3.2. House, Garden, Do-It-Yourself 7.3.3. Consumer Electronics 7.3.4. Media and Entertainment 7.3.5. Consumer Appliances 7.3.6. Beauty and Health 7.3.7. Toys 7.3.8. Leisure, Sports, and Fitness 7.3.9. Pet Supplies 7.4. Attractiveness Analysis By Product Type 8. Analysis 2019 to 2023 and Forecast 2024 to 2034, By Sales Channel 8.1. Introduction / Key Findings 8.2. Historical Size (US$ million) Analysis By Sales Channel, 2019 to 2023 8.3. Current and Future Size (US$ million) Analysis and Forecast By Sales Channel, 2024 to 2034 8.3.1. Thrift Stores/Resale Stores 8.3.2. Online Market Places 8.3.3. Consignment Shops 8.3.4. Other Channels 8.4. Attractiveness Analysis By Sales Channel 9. Industry Analysis 9.1. Introduction / Key Findings 9.2. Analysis 9.3. Attractiveness Analysis 10. China Analysis 2019 to 2023 and Forecast 2024 to 2034 10.1. Introduction 10.2. Pricing Analysis 10.3. Historical Size (US$ million) Trend Analysis By Taxonomy, 2019 to 2023 10.4. Current Size (US$ million) Forecast By Taxonomy, 2024 to 2034 10.4.1. By Product Type 10.4.2. By Sales Channel 10.5. Business Attractiveness Analysis 10.5.1. By Product Type 10.5.2. By Sales Channel 10.6. Key Trends 10.7. Drivers and Restraints - Impact Analysis 10.8. Key Players Participants - Intensity Mapping 11. Japan Analysis 2019 to 2023 and Forecast 2024 to 2034 11.1. Introduction 11.2. Pricing Analysis 11.3. Historical Size (US$ million) Trend Analysis By Taxonomy, 2019 to 2023 11.4. Current Size (US$ million) Forecast By Taxonomy, 2024 to 2034 11.4.1. By Product Type 11.4.2. By Sales Channel 11.5. Business Attractiveness Analysis 11.5.1. By Product Type 11.5.2. By Sales Channel 11.6. Key Trends 11.7. Drivers and Restraints - Impact Analysis 11.8. Key Players Participants - Intensity Mapping 12. India Analysis 2019 to 2023 and Forecast 2024 to 2034 12.1. Introduction 12.2. Pricing Analysis 12.3. Historical Size (US$ million) Trend Analysis By Taxonomy, 2019 to 2023 12.4. Current Size (US$ million) Forecast By Taxonomy, 2024 to 2034 12.4.1. By Product Type 12.4.2. By Sales Channel 12.5. Business Attractiveness Analysis 12.5.1. By Product Type 12.5.2. By Sales Channel 12.6. Key Trends 12.7. Drivers and Restraints - Impact Analysis 12.8. Key Players Participants - Intensity Mapping 13. South Korea Analysis 2019 to 2023 and Forecast 2024 to 2034 13.1. Introduction 13.2. Pricing Analysis 13.3. Historical Size (US$ million) Trend Analysis By Taxonomy, 2019 to 2023 13.4. Current Size (US$ million) Forecast By Taxonomy, 2024 to 2034 13.4.1. By Product Type 13.4.2. By Sales Channel 13.5. Business Attractiveness Analysis 13.5.1. By Product Type 13.5.2. By Sales Channel 13.6. Key Trends 13.7. Drivers and Restraints - Impact Analysis 13.8. Key Players Participants - Intensity Mapping 14. Indonesia Analysis 2019 to 2023 and Forecast 2024 to 2034 14.1. Introduction 14.2. Pricing Analysis 14.3. Historical Size (US$ million) Trend Analysis By Taxonomy, 2019 to 2023 14.4. Current Size (US$ million) Forecast By Taxonomy, 2024 to 2034 14.4.1. By Product Type 14.4.2. By Sales Channel 14.5. Business Attractiveness Analysis 14.5.1. By Product Type 14.5.2. By Sales Channel 14.6. Key Trends 14.7. Drivers and Restraints - Impact Analysis 14.8. Key Players Participants - Intensity Mapping 15. Thailand Analysis 2019 to 2023 and Forecast 2024 to 2034 15.1. Introduction 15.2. Pricing Analysis 15.3. Historical Size (US$ million) Trend Analysis By Taxonomy, 2019 to 2023 15.4. Current Size (US$ million) Forecast By Taxonomy, 2024 to 2034 15.4.1. By Product Type 15.4.2. By Sales Channel 15.5. Business Attractiveness Analysis 15.5.1. By Product Type 15.5.2. By Sales Channel 15.6. Key Trends 15.7. Drivers and Restraints - Impact Analysis 15.8. Key Players Participants - Intensity Mapping 16. Singapore Analysis 2019 to 2023 and Forecast 2024 to 2034 16.1. Introduction 16.2. Pricing Analysis 16.3. Historical Size (US$ million) Trend Analysis By Taxonomy, 2019 to 2023 16.4. Current Size (US$ million) Forecast By Taxonomy, 2024 to 2034 16.4.1. By Product Type 16.4.2. By Sales Channel 16.5. Business Attractiveness Analysis 16.5.1. By Product Type 16.5.2. By Sales Channel 16.6. Key Trends 16.7. Drivers and Restraints - Impact Analysis 16.8. Key Players Participants - Intensity Mapping 17. Malaysia Analysis 2019 to 2023 and Forecast 2024 to 2034 17.1. Introduction 17.2. Pricing Analysis 17.3. Historical Size (US$ million) Trend Analysis By Taxonomy, 2019 to 2023 17.4. Current Size (US$ million) Forecast By Taxonomy, 2024 to 2034 17.4.1. By Product Type 17.4.2. By Sales Channel 17.5. Business Attractiveness Analysis 17.5.1. By Product Type 17.5.2. By Sales Channel 17.6. Key Trends 17.7. Drivers and Restraints - Impact Analysis 17.8. Key Players Participants - Intensity Mapping 18. Hong Kong Analysis 2019 to 2023 and Forecast 2024 to 2034 18.1. Introduction 18.2. Pricing Analysis 18.3. Historical Size (US$ million) Trend Analysis By Taxonomy, 2019 to 2023 18.4. Current Size (US$ million) Forecast By Taxonomy, 2024 to 2034 18.4.1. By Product Type 18.4.2. By Sales Channel 18.5. Business Attractiveness Analysis 18.5.1. By Product Type 18.5.2. By Sales Channel 18.6. Key Trends 18.7. Drivers and Restraints - Impact Analysis 18.8. Key Players Participants - Intensity Mapping 19. Australia and New Zealand Analysis 2019 to 2023 and Forecast 2024 to 2034 19.1. Introduction 19.2. Pricing Analysis 19.3. Historical Size (US$ million) Trend Analysis By Taxonomy, 2019 to 2023 19.4. Current Size (US$ million) Forecast By Taxonomy, 2024 to 2034 19.4.1. By Product Type 19.4.2. By Sales Channel 19.5. Business Attractiveness Analysis 19.5.1. By Product Type 19.5.2. By Sales Channel 19.6. Key Trends 19.7. Drivers and Restraints - Impact Analysis 19.8. Key Players Participants - Intensity Mapping 20. Rest of Analysis 2019 to 2023 and Forecast 2024 to 2034 20.1. Introduction 20.2. Pricing Analysis 20.3. Historical Size (US$ million) Trend Analysis By Taxonomy, 2019 to 2023 20.4. Current Size (US$ million) Forecast By Taxonomy, 2024 to 2034 20.4.1. By Product Type 20.4.2. By Sales Channel 20.5. Business Attractiveness Analysis 20.5.1. By Product Type 20.5.2. By Sales Channel 20.6. Key Trends 20.7. Drivers and Restraints - Impact Analysis 20.8. Key Players Participants - Intensity Mapping 21. Structure Analysis 21.1. Analysis by Tier of Companies 21.2. Share Analysis of Top Players 21.3. Presence Analysis 22. Competition Analysis 22.1. Competition Dashboard 22.2. Competition Benchmarking 22.3. Competition Deep Dive 22.3.1. Carousell 22.3.1.1. Overview 22.3.1.2. Product Portfolio 22.3.1.3. Profitability by Segments (Product/Channel/Region) 22.3.1.4. Sales Footprint 22.3.1.5. Strategy Overview 22.3.2. Amazon Marketplace 22.3.3. OLX 22.3.4. Tokopedia 22.3.5. Reebelo 22.3.6. Sangeetha Mobiles 22.3.7. Cashify 22.3.8. Hamleys 22.3.9. BookMooch 22.3.10. Qoo10 22.3.11. My Toys 22.3.12. Nykaa 22.3.13. Flipkart 22.3.14. PetSmart 22.3.15. Pet Lovers Centre 22.3.16. Anchanto 22.3.17. Rakuten 22.3.18. SaSa 22.3.19. Kakaku.com 22.3.20. Toy "R" Us 22.3.21. Yahoo! Auctions Japan 22.3.22. Others (as requested) 23. Assumptions and Acronyms Used 24. Research Methodology
Consumer Product
March 2024
REP-GB-15854
315 pages
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