The India secondhand luxury goods market size reached US$ 618.3 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,556.2 Million by 2032, exhibiting a growth rate (CAGR) of 10.5% during 2024-2032.
Report Attribute
|
Key Statistics
|
---|---|
Base Year
|
2023
|
Forecast Years
|
2024-2032
|
Historical Years
|
2018-2023
|
Market Size in 2023
|
US$ 618.3 Million |
Market Forecast in 2032
|
US$ 1,556.2 Million |
Market Growth Rate 2024-2032 | 10.5% |
Secondhand luxury goods are high-end and premium products purchased by the second and later end users. These goods include antique furniture, footwear, apparel, artwork, jewelry and fashion accessories like bags and watches. They also provide an extended warranty period and offer economic benefits to the seller as they can be resold instead of being discarded. They also help reduce carbon footprints and minimize the dependence on raw materials while lowering waste production levels.
The India secondhand luxury goods market is primarily driven by the growing influence of western fashion trends, improving living standards and rising disposable incomes of the consumers. Besides this, with the rising environmental concerns, individuals are shifting toward secondhand luxury products, which decrease the volume of waste sent to landfills. Apart from this, the growing adoption of high-end fashion accessories and clothing due to the rising accessibility and affordability is also catalyzing the market growth. Furthermore, the introduction of various international e-commerce platforms that offer overseas delivery options has increased the sales of pre-owned luxury goods.
IMARC Group provides an analysis of the key trends in each sub-segment of the India secondhand luxury goods market report, along with forecasts at the country and regional level from 2024-2032. Our report has categorized the market based on product type, demography and distribution channel.
Breakup by Product Type:
Breakup by Demography:
Breakup by Distribution Channel:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Report Features | Details |
---|---|
Base Year of the Analysis | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Units | US$ Million |
Segment Coverage | Product Type, Demography, Distribution Channel, Region |
Region Covered | North India, West and Central India, South India, East India |
Customization Scope | 10% Free Customization |
Report Price and Purchase Option | Single User License: US$ 2699 Five User License: US$ 3699 Corporate License: US$ 4699 |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The India secondhand luxury goods market was valued at US$ 618.3 Million in 2023.
We expect the India secondhand luxury goods market to exhibit a CAGR of 10.5% during 2024-2032.
The increasing demand for high-end fashion accessories at lower prices, along with the emerging trend of re-selling unwanted luxury goods, is primarily driving the India secondhand luxury goods market.
The sudden outbreak of the COVID-19 pandemic has led to the rising utilization of several online retail platforms to provide a safe and reliable environment for customers to re-sell and buy secondhand luxury goods across the nation.
Based on the product type, the India secondhand luxury goods market can be categorized into handbags, jewelry & watches, clothing, small leather goods, footwear, accessories, and others. Currently, handbags account for the majority of the total market share.
Based on the demography, the India secondhand luxury goods market has been segregated into women, men, and unisex. Among these, women currently exhibit a clear dominance in the market.
Based on the distribution channel, the India secondhand luxury goods market can be bifurcated into offline and online. Currently, offline holds the largest market share.
On a regional level, the market has been classified into North India, West and Central India, South India, and East India, where North India currently dominates the India secondhand luxury goods market.