PROSPECTS AND OPPORTUNITIES
Solid growth expected during the forecast period, with advances in technology
Even in a period of severely weakened consumer sentiment, South Korean consumers are still willing to spend on products they feel necessary, especially when they perceive high value for the price. When a product offers distinct, life-changing features that clearly differentiate it from previous models, consumers are more inclined to make a purchase.
Unit price of automatic dryers expected to drop in the forecast period with the rise of single households
Since the COVID-19 pandemic the penetration of automatic dryers has grown rapidly, and as the category expands, the competition has intensified. In the past, dryers were expensive and consumed a lot of electricity, but recently, a wider range of automatic dryers targeting various household sizes and budgets has been introduced.
Top-loading washing machines expected to maintain demand
Although front-loading washing machines are expected to continue to gradually gain popularity, top-loading washing machines are expected to remain popular in South Korea moving forward, for several reasons. They offer strong washing power, effectively handle large loads such as blankets, and allow laundry to be added mid-cycle for added convenience.
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Overview:
Understand the latest market trends and future growth opportunities for the Home Laundry Appliances 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 Laundry Appliances 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 Laundry Appliances 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 Laundry Appliances in South Korea?
- Which are the leading brands in South Korea?
- How are products distributed in South Korea?
- To what extent has COVID-19 and accordant macroeconomic and retail disruption impacted demand?
- How are considerations such as urban development and the rise in single-person households determining sales growth?
- Where is future growth expected to be most dynamic?
Home Laundry Appliances in South Korea - Category analysis
KEY DATA FINDINGS
Resilient volume demand for automatic dryers amidst decline for overall home laundry appliances
LG and Samsung both introduce all-in-one washer dryers
Physical channels remain dominant, while retail e-commerce gains significance
Solid growth expected during the forecast period, with advances in technology
Unit price of automatic dryers expected to drop in the forecast period with the rise of single households
Top-loading washing machines expected to maintain demand
Consumer Appliances in South Korea - Industry Overview
Consumer appliances in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for consumer appliances?
DISCLAIMER
The following categories and subcategories are included:
Home Laundry Appliances
- Built-in Home Laundry Appliances
- Freestanding Home Laundry Appliances
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- Built-in Automatic Dryers
- Freestanding Automatic Dryers
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- Built-in Automatic Washer Dryers
- Freestanding Automatic Washer Dryers
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- Built-in Automatic Washing Machines
- Freestanding Automatic Washing Machines
- Semi-Automatic Washing Machines
Home Laundry Appliances
Home laundry appliances includes the following categories: automatic dryers, automatic washing machines, automatic washer dryers and semi-automatic washing machines.
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 Laundry Appliances research and analysis database.
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