Secular Market refers to a market driven by long-term trends. These trends are usually a combination of large-scale national and worldwide events like wars, demographic shifts and governmental policies. These forces can last 5 to 25 years, causing asset prices to rise or fall over a long period.
Additional meaning of Secular Market:
Secular market trends consist of a series of sequential primary trends. A secular bear market consists of smaller bull markets and larger bear markets; a secular bull market consists of larger bull markets and smaller bear markets.