Home and Garden in South Korea

June 2024 | 44 pages | ID: H4664159DCDEN
Euromonitor International Ltd

Abstracts

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. Elevated debt servicing burdens and a sluggish housing market dampened private consumption, while traditional categories such as dinnerware and kitchenware declined as more people opted to dine out and use meal deliver...

Euromonitor International's 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.

Euromonitor International has over 40 years' experience of publishing market research reports, business reference books and online information systems. With offices in London, Chicago, Singapore, Shanghai, Vilnius, Dubai, Cape Town, Santiago, Sydney, Tokyo and Bangalore and a network of over 800 analysts worldwide, Euromonitor International has a unique capability to develop reliable information resources to help drive informed strategic planning.

Contents

Home and Garden in South Korea
Euromonitor International
June 2024

LIST OF CONTENTS AND TABLES

HOME AND GARDEN IN SOUTH KOREA
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 KOREA
KEY 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 KOREA
KEY 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 KOREA
KEY 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 KOREA
KEY 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