PROSPECTS AND OPPORTUNITIES
Solid future growth in home furnishings in alignment with urbanisation and lifestyle shifts
Home furnishings in South Korea is expected to grow well during the forecast in line with socio-demographic and lifestyle shifts. Ongoing urbanisation and the construction of high-rise apartment complexes in major cities, such as Seoul, Busan, and Incheon, is likely to sustain demand for compact and modular furniture suited to smaller living spaces.
Indoor living is expected to grow well amid rising demand for stylish, space-saving designs
Indoor living furniture in South Korea is expected to grow moderately over the forecast period as urban apartments continue to function as multifunctional spaces for living, working, and entertaining. Demand for modular sofas, storage-integrated furniture, and convertible items like sofa beds and expandable tables will gain traction.
Modular indoor furniture is expected to grow well during the forecast period
In 2024, Hanssem Co Ltd introduced its new modular sofas, featuring customisable layouts, built-in storage, and durable, easy-to-clean materials. These are likely to resonate with younger consumers and small families living in compact apartments.
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Overview:
Understand the latest market trends and future growth opportunities for the Home Furnishings 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.
If you're in the Home Furnishings 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 Furnishings 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 Furnishings in South Korea?
- Which are the leading brands in Home Furnishings in South Korea?
- How are products distributed in Home Furnishings 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 Furnishings?
- Has the economic fall-out of COVID-19 negatively or positively impacted consumer interest and demand for Home Furnishings?
- Where is future growth expected to be most dynamic?
Home Furnishings in South Korea - Category analysis
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
Home and Garden in South Korea - Industry Overview
Home and garden in 2024: The big picture
2024 key trends
Competitive landscape
Retail developments
What next for home and garden?
DISCLAIMER
The following categories and subcategories are included:
Home Furnishings
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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)
Home Furnishings
The furniture and other moveable articles in a home that are necessary or useful for comfort and convenience. Items must be new when sold to the consumer; second-hand/used home furnishings are excluded. Antiques are also excluded. Home furnishings refers to indoor living (home textiles, indoor furniture and window coverings), outdoor living (BBQ's, garden sheds and outdoor furniture) and lighting (lighting sources and light fixtures).
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Home Furnishings research and analysis database.
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