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Home and Garden in South Korea

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    Report

  • 44 Pages
  • June 2024
  • Region: South Korea
  • Euromonitor International
  • ID: 2674519
In 2023, home and garden in South Korea saw low current value growth, but faced mixed performances across various categories, influenced by the broader economic landscape and shifting consumer preferences. Real GDP growth slowed in 2023, impacting consumer spending and investment.

The Home and Garden in South Korea report offers a comprehensive guide to the size and shape of market demand at a national level. It provides the latest retail sales data (historic date range), allowing you to identify the categories driving growth. It also identifies the leading companies and their brands, and offers strategic analysis of key factors influencing demand - from new product developments, consumer lifestyles, route to market and pricing issues. Forecasts to 2028 illustrate how market demand is expected to evolve in the medium-term

Product coverage: Home Improvement and Gardening, Homewares and Home Furnishings.

Data coverage: Market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?

  • Get a detailed picture of the Home and Garden market;
  • Pinpoint growth sectors and identify factors driving change;
  • Understand the competitive environment, the market’s major players and leading brands;
  • Use five-year forecasts to assess how the market is predicted to develop.

Table of Contents

EXECUTIVE SUMMARY
  • Home and garden in 2023: The big picture
  • 2023 key trends
  • Competitive landscape
  • Retailing developments
  • What next for home and garden?
MARKET DATA
  • Table 1 Sales of Home and Garden by Category: Value 2018-2023
  • Table 2 Sales of Home and Garden by Category: % Value Growth 2018-2023
  • Table 3 NBO Company Shares of Home and Garden: % Value 2019-2023
  • Table 4 LBN Brand Shares of Home and Garden: % Value 2020-2023
  • Table 5 Penetration of Private Label in Home and Garden by Category: % Value 2018-2023
  • Table 6 Distribution of Home and Garden by Format: % Value 2018-2023
  • Table 7 Distribution of Home and Garden by Format and Category: % Value 2023
  • Table 8 Forecast Sales of Home and Garden by Category: Value 2023-2028
  • Table 9 Forecast Sales of Home and Garden by Category: % Value Growth 2023-2028
DISCLAIMER
SOURCES
  • Summary 1 Research Sources
GARDENING IN SOUTH KOREAKEY DATA FINDINGS
2023 DEVELOPMENTS
  • Gardening equipment grows in 2023 as gardening becomes popular as a recreational activity
  • Power tools are increasingly popular amongst South Koreans as they offer convenience
  • Lawn mowers sees growth in 2023 due to suburbanisation in South Korea
PROSPECTS AND OPPORTUNITIES
  • Pots and planters set to grow over the forecast period due to their practicality
  • Increased urban gardening expected to drive growth in horticulture
CATEGORY DATA
  • Table 10 Sales of Gardening by Category: Value 2018-2023
  • Table 11 Sales of Gardening by Category: % Value Growth 2018-2023
  • Table 12 NBO Company Shares of Gardening: % Value 2019-2023
  • Table 13 LBN Brand Shares of Gardening: % Value 2020-2023
  • Table 14 Distribution of Gardening by Format: % Value 2018-2023
  • Table 15 Forecast Sales of Gardening by Category: Value 2023-2028
  • Table 16 Forecast Sales of Gardening by Category: % Value Growth 2023-2028
HOME FURNISHINGS IN SOUTH KOREAKEY DATA FINDINGS
2023 DEVELOPMENTS
  • Barbecues grows as consumers opt for outdoor living products due to shrinking living spaces
  • Demand for multipurpose furniture leads to growth for sofa beds in South Korea
  • Rise in time spent at home leads to growth in demand for outdoor furniture
PROSPECTS AND OPPORTUNITIES
  • Preference for comfortable mattresses and beds with storage to aid the growth of home furnishings
  • Cultural preference for Korean barbecue to lead to growth in demand for charcoal barbecue sets
CATEGORY DATA
  • Table 17 Sales of Home Furnishings by Category: Value 2018-2023
  • Table 18 Sales of Home Furnishings by Category: % Value Growth 2018-2023
  • Table 19 NBO Company Shares of Home Furnishings: % Value 2019-2023
  • Table 20 LBN Brand Shares of Home Furnishings: % Value 2020-2023
  • Table 21 LBN Brand Shares of Light Sources: % Value 2020-2023
  • Table 22 Distribution of Home Furnishings by Format: % Value 2018-2023
  • Table 23 Forecast Sales of Home Furnishings by Category: Value 2023-2028
  • Table 24 Forecast Sales of Home Furnishings by Category: % Value Growth 2023-2028
HOME IMPROVEMENT IN SOUTH KOREAKEY DATA FINDINGS
2023 DEVELOPMENTS
  • Preference for functionality boosts growth in bathroom and sanitaryware
  • Decorative paint increases in 2023 due to a rise in DIY projects
  • Increased demand for stylish flooring leads to continued growth for floor covering
PROSPECTS AND OPPORTUNITIES
  • Hardware forecast to see dynamic growth in South Korea due to growth via retail e-commerce
  • Hand tools set to grow over the forecast period due to increasing urbanisation
CATEGORY DATA
  • Table 25 Sales of Home Improvement by Category: Value 2018-2023
  • Table 26 Sales of Home Improvement by Category: % Value Growth 2018-2023
  • Table 27 NBO Company Shares of Home Improvement: % Value 2019-2023
  • Table 28 LBN Brand Shares of Home Improvement: % Value 2020-2023
  • Table 29 Distribution of Home Improvement by Format: % Value 2018-2023
  • Table 30 Forecast Sales of Home Improvement by Category: Value 2023-2028
  • Table 31 Forecast Sales of Home Improvement by Category: % Value Growth 2023-2028
HOMEWARES IN SOUTH KOREAKEY DATA FINDINGS
2023 DEVELOPMENTS
  • Dinnerware faces decline in 2023 as consumers opt to dine out
  • As consumers opt for durable items, food storage sees a decline
  • Shifting consumer habits lead to a decline for kitchen utensils
PROSPECTS AND OPPORTUNITIES
  • Shift to convenient lifestyles set to limit growth in beverageware
  • Ovenware forecast to struggle to achieve growth as consumers opt for convenience
CATEGORY DATA
  • Table 32 Sales of Homewares by Category: Value 2018-2023
  • Table 33 Sales of Homewares by Category: % Value Growth 2018-2023
  • Table 34 Sales of Homewares by Material: % Value 2018-2023
  • Table 35 NBO Company Shares of Homewares: % Value 2019-2023
  • Table 36 LBN Brand Shares of Homewares: % Value 2020-2023
  • Table 37 Distribution of Homewares by Format: % Value 2018-2023
  • Table 38 Forecast Sales of Homewares by Category: Value 2023-2028
  • Table 39 Forecast Sales of Homewares by Category: % Value Growth 2023-2028