Home and garden in 2024: The big picture
Home and garden in South Korea witnessed robust value growth in 2024, driven by evolving lifestyles, urbanisation, and government support. Gardening expanded significantly due to the rising public interest in floriculture, supported by initiatives like the government’s Flower Road programme aimed at beautifying urban spaces and boosting tourism.
2024 key trends
In 2024, home furnishings was the dominant category within home and garden. Rapid urbanisation has led to smaller living spaces, especially in cities like Seoul and Busan, prompting stronger demand for smart, space-efficient furniture solutions.
Competitive landscape
Hanssem Co Ltd leads home and garden in 2024 due to its strong nationwide retail presence and digital-first marketing which appeals to younger, design-conscious consumers. Its success in creating personalised, seamless shopping experiences has helped the company to maintain a leading position, despite economic challenges and the weaker housing market.
Retail developments
Home product specialists was the largest retail channel for home and garden products in 2024, as these retailers offer a compelling mix of accessibility, trend-responsiveness, and lifestyle alignment. These retailers provide wide assortments, from gardening supplies and homewares to furniture and home improvement products, integrated seamlessly with lifestyle and décor trends.
What next for home and garden?
Home and garden in South Korea is set to witness a significant slowdown over the forecast period, in constant value terms. Despite the country’s modest economic recovery in 2024, consumers will remain cautious with expenditure and are expected to limit discretionary purchases on home and garden products.
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Overview:
Understand the latest market trends and future growth opportunities for the Home and Garden industry in South Korea with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
- Gardening
- Home Furnishings
- Home Improvement
- Homewares
If you're in the Home and Garden industry in South Korea, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Home and Garden in South Korea report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Home and Garden in South Korea?
- Which are the leading brands in Home and Garden in South Korea?
- How are products distributed in Home and Garden in South Korea?
- How is the rise of e-commerce changing the retail and competitive landscape?
- Have home seclusion and social distancing measures following COVID-19 benefited sales of Home and Garden?
- Has the economic fall-out of COVID-19 negatively or positively impacted consumer interest and demand for Home and Garden?
- Where is future growth expected to be most dynamic?
Home and Garden in South Korea
Home and garden in 2024: The big picture
2024 key trends
Competitive landscape
Retail developments
What next for home and garden?
DISCLAIMER
Home Improvement in South Korea
KEY DATA FINDINGS
Home improvement grows well driven by DIY culture, ageing apartments and wellness trends
LG Hausys and Hansol Homedeco lead with innovation in design, eco-friendly materials and lifestyle-driven solutions
Home improvement and gardening stores remains the dominant distribution channel
Home improvement set to prosper amid ageing homes and DIY culture
Focus on eco-friendly, space-efficient, and tech-driven products in bathrooms, flooring, and hand tools
Leading player unveils sustainable luxury vinyl tiles
Gardening in South Korea
KEY DATA FINDINGS
Gardening category thrives amid urban demand and government backing
99 Flower Co Ltd and Nongwoo Bio Co Ltd bring innovation to the gardening category
Home improvement and gardening stores lead growth in home gardening
Healthy growth in gardening will be driven by urbanisation and e-commerce
Floriculture and government initiatives set the stage for growth of horticulture
Technological advances will bring new smart gardening solutions
Homewares in South Korea
KEY DATA FINDINGS
Homewares witnesses growth as demand for dining, kitchenware and furniture rises
Groupe SEB Korea and Thermos Korea leads homewares through product innovation and localisation
Grocery retailers are key distribution channel for homewares
Kitchenware to post best performance as economic challenges limit growth
Demand for stove-top cookware declines as modern appliances and space-saving solutions gain popularity
Corelle's Duranano cookware collection grows in popularity due to its sustainable, health-conscious design and advanced nanotechnology
Home Furnishings in South Korea
KEY DATA FINDINGS
Urban consumers seek home furnishings to create stylish and functional outdoor spaces
Hanssem Co Ltd holds notable lead in home furnishings
Homewares and home furnishing stores take the lead in distribution
Solid future growth in home furnishings in alignment with urbanisation and lifestyle shifts
Indoor living is expected to grow well amid rising demand for stylish, space-saving designs
Modular indoor furniture is expected to grow well during the forecast period
The following categories and subcategories are included:
Home and Garden
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- Bathroom and Sanitaryware
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- Carpets
- Floor Tiles
- Wooden Flooring
- Other Floor Covering
- Hand Tools
- Hardware
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- Lacquer and Varnish
- Decorative Paint
- Kitchen Sinks
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- Corded Drills
- Cordless Drills
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- Other Corded Power Tools
- Other Cordless Power Tools
- Power Tool Accessories
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- Wall Tiles
- Wallpaper
- Other Home Improvement
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- Fertiliser
- Soil
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- Pest Control
- Herbicides
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- Gardening Hand Tools
- Gardening Power Tools
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- Walk Power Lawn Mowers
- Riding Lawn Mowers
- Robotic Lawn Mowers
- Watering
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- Indoor Plants
- Seeds
- Other Horticulture
- Pots and Planters
- Other Gardening
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- Beverageware
- Cutlery
- Dinnerware
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- Ovenware
- Stove Top Cookware
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- Food Storage
- Kitchen Utensils
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- Bath Textiles
- Bed Textiles
- Kitchen and Dining Textiles
- Living Room Textiles
- Rugs
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- Beds
- Chests of Drawers
- Mattresses
- Wardrobes
- Dining Furniture
- Home Office Furniture
- Kitchen Furniture
- Living Room Furniture
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- Sofa Beds
- Other Sofas
- Other Sitting Furniture
- Storage Furniture
- Other Indoor Furniture
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- Blinds
- Curtains
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- Charcoal Barbecues
- Electric Barbecues
- Gas Barbecues
- Outdoor Furniture
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- Lighting Fixtures
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- Incandescent Lamps
- Halogen Lamps
- Linear Fluorescent Lamps (LFL)
- Compact Fluorescent Lamps (CFL)
- Light-Emitting Diode Lamps (LED)
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Home and Garden
This project has a strict focus on sales to consumers only. Trade and professional sales are excluded. Home and garden refers to gardening, home improvement, homewares and home furnishings.
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This report originates from Passport, our Home and Garden research and analysis database.
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