South Korea Furniture Market Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 3.60% (2024-2032)
A highly urbanized population is driving the market in South Korea as more people are residing in cities and opting for compact, multifunctional furniture that fits into smaller living spaces. According to the latest report by IMARC Group, the South Korea furniture market size is projected to exhibit a growth rate (CAGR) of 3.60% during 2024-2032.
South Korea Furniture Industry Trends and Drivers:
A combination of factors, including expanding urbanization and changing consumer lifestyles, as well as an increasing demand for modern, space-efficient furniture, are responsible for the growth of the South Korea furniture market. Additionally, the market is propelling as consumers are seeking compact and multifunctional furniture that maximizes small living spaces. This trend is strong among younger generations and first-time homeowners who prioritize practicality and design. Moreover, the growing popularity of home interior design and DIY culture, often influenced by social media and online platforms, is pushing the need for stylish, customizable furniture that allows individuals to create personalized living environments. The rapid growth of e-commerce has also made it easier for consumers to surf and purchase furniture online, contributing to the expansion of the market.
The increasing focus on sustainable practices and eco-friendly materials is augmenting the South Korea furniture market. In addition to this, as environmental concerns rise, consumers are becoming conscious of the effect of their purchases, leading to a high demand for furniture made from sustainable, recycled, or ethically sourced materials. Furniture manufacturers are responding to this by offering products that align with eco-conscious values and incorporating green practices in their production processes. Furthermore, the need for premium, high-quality furniture is growing, driven by an expanding middle class with higher disposable incomes. This is particularly evident in the rising interest in luxury and designer furniture, which emphasizes craftsmanship and long-lasting materials. The advancing consumer preferences, combined with the increasing influence of digital platforms and sustainability trends, are expected to continue shaping the South Korea furniture market in the coming years.
Download sample copy of the Report: https://www.imarcgroup.com/south-korea-furniture-market/requestsample
South Korea Furniture Industry Segmentation:
The report has segmented the market into the following categories:
Material Insights:
- Metal
- Wood
- Plastic
- Glass
- Others
Distribution Channel Insights:
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Stores
- Others
End Use Insights:
- Residential
- Commercial
Regional Insights:
- Seoul Capital Area
- Yeongnam (Southeastern Region)
- Honam (Southwestern Region)
- Hoseo (Central Region)
- Others
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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