South Korea Home Decor Market Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 3.80% (2024-2032)
The home decor industry in South Korea is flourishing, driven by evolving lifestyle trends, innovative designs, and growing consumer demand for stylish living spaces. According to the latest report by IMARC Group, South Korea home decor market size reached USD 14.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 20 Billion by 2032, exhibiting a growth rate (CAGR) of 3.80% during 2024-2032.
South Korea Home Decor Industry Trends and Drivers:
The South Korea home decor market is growing fast. It's due to rising incomes, urbanization, and a focus on home aesthetics. Younger South Koreans are making more investments in home decor. They want stylish, personalized living spaces. Social media, especially Instagram and Pinterest, fuels this trend. People share their beautifully decorated homes, inspiring others to do the same. South Korean home decor trends include a rise in minimalist and Scandinavian designs. They feature clean lines, neutral colors, and functional furniture.
The demand for sustainable, eco-friendly home decor is on the rise. Consumers are now more aware of environmental issues. Online shopping has driven the growth of the home decor market. E-commerce platforms offer a wide range of products and a convenient experience. Also, the rise of DIY culture has increased demand for home decor. The South Korean home decor market is evolving. It will soon offer great opportunities for domestic and international brands. Businesses can grow by tapping into the Korean market. They must know consumers' preferences and trends.
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South Korea Home Decor Industry Segmentation:
The report has segmented the market into the following categories:
Product Type Insights:
- Home Furniture
- Home Textiles
- Flooring
- Wall Decor
- Lighting
- Others
Distribution Channel Insights:
- Home Decor Stores
- Supermarkets and Hypermarkets
- Online Store
- Gift Shops
- Others
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 provides a comprehensive suite of market entry and expansion services. IMARC offerings include a 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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