PROSPECTS AND OPPORTUNITIES
Kitchenware to post best performance as economic challenges limit growth
Homewares in South Korea is expected to witness decline over the forecast period, partly due to the ongoing economic slowdown, which has led to cautious consumer spending. Consumers are set to remain conservative in their purchasing decisions, only spending on essential items which should impact demand for non-essential goods like homewares.
Demand for stove-top cookware declines as modern appliances and space-saving solutions gain popularity
The decline in consumer demand for stove-top cookware in South Korea is driven by shifts in cooking habits. As modern kitchen appliances like air fryers, induction cookers, and electric pressure cookers gain popularity, consumers are increasingly opting for these more efficient, versatile, and convenient cooking methods that require less manual effort.
Corelle's Duranano cookware collection grows in popularity due to its sustainable, health-conscious design and advanced nanotechnology
In 2024, Corelle Brand Korea introduced the Duranano Collection, a premium line of non-stick stainless steel cookware. This collection utilises a patented nanotechnology that embeds metal powders like titanium and zirconium into the stainless steel surface at high temperatures, creating a durable, eco-friendly non-stick surface without harmful chemicals like PTFE or PFOA.
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Overview:
Understand the latest market trends and future growth opportunities for the Homewares 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 Homewares 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 Homewares 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 Homewares in South Korea?
- Which are the leading brands in Homewares in South Korea?
- How are products distributed in Homewares 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 Homewares?
- Has the economic fall-out of COVID-19 negatively or positively impacted consumer interest and demand for Homewares?
- Where is future growth expected to be most dynamic?
Homewares in South Korea - Category analysis
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 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:
Homewares
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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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Homewares
Cooking utensils, dishes, tableware, cutlery, drinkware, serving trays and other small articles used in a home. Items must be new when sold to the consumer. Second-hand / used homewares are excluded, as are antique sales. Homewares refers to dining (beverageware, cutlery and dinnerware) and kitchen (cookware and kitchenware).
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 Homewares research and analysis database.
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