South Korea Furniture Market Growth, Outlook, Scope and Opportunity 2024-2032

Furniture Market- South Korea

Market Statistics

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:

Market Trends in South Korea's Furniture Industry

Urbanization and Demographic Shifts

• High Urbanized Population:
• Increasing urbanization is driving the market as more people reside in cities.
• There is a rising demand for compact, multifunctional furniture suitable for smaller living spaces.
• Younger Demographics:
• Younger consumers prioritize contemporary, space-efficient designs that align with their modern lifestyles.
• Single-Person Households:
• The growing number of single-person households is boosting the demand for furniture that combines aesthetics with practicality.

Impact of Remote Work

• Home Office Furniture:
• The shift to remote work is influencing the market, with a rising demand for ergonomic and comfortable home office furnishings.
• Innovation and Productivity:
• Manufacturers are innovating to offer furniture that enhances productivity while blending seamlessly with home interiors.

Home Renovations and Design Trends

• Increase in Renovations:
• The growing trend of home renovations and interior design projects is driving demand for modern and trendy furniture.
• Market Growth:
• South Korea’s status as a major e-commerce market, supported by high-speed internet and advanced digital infrastructure, is further boosting market growth.

Government Support and Sustainability

• Government Policies:
• Governing agencies are introducing policies that stimulate domestic production and international trade.
• SME Support:
• Small and medium-sized enterprises (SMEs) are benefiting from support for technological advancements and enhanced manufacturing capabilities, improving product quality and global competitiveness.
• Sustainability Trends:
• Growing emphasis on sustainability is increasing demand for eco-friendly furniture options.

Technological Advancements and E-commerce

• Digital Presence and AR:
• Companies are enhancing their digital presence and adopting technologies like augmented reality (AR) to improve the shopping experience by allowing buyers to visualize furniture in their homes before purchasing.
• Investment in Online Platforms:
• Businesses are investing in robust online platforms to meet consumer expectations for convenience and variety, offering a favorable market outlook in the country.

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

Request for customization: https://www.imarcgroup.com/request?type=report&id=21191&flag=E

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.

Contact Us:  

IMARC Group 

134 N 4th St. Brooklyn, NY 11249, USA 

Email: sales@imarcgroup.com 

Tel No:(D) +91 120 433 0800 

United States: +1-631-791-1145