South Korea Office Furniture - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)
The South Korea Office Furniture Market size is estimated at USD 691.20 million in 2024, and is expected to reach USD 806.75 million by 2029, growing at a CAGR of 3.14% during the forecast period (2024-2029).
The South Korean office furniture market is expected to experience growth in the foreseeable future, driven by factors such as an increase in the number of start-ups and home offices and a heightened focus on employee health and well-being. Office furniture encompasses a variety of items such as desks, office chairs, storage cabinets, and other furnishings commonly found in work environments.
The office furniture market in South Korea is growing steadily, driven by increasing demand for ergonomic and aesthetically pleasing office furniture, the expansion of commercial office spaces, and a focus on creating modern work environments. South Korea's office furniture market is also influenced by smart office solutions and sustainability trends, with companies seeking eco-friendly and energy-efficient furniture options. Additionally, the rise of remote work and the need for home office furniture have fueled the demand for innovative and functional office furniture in South Korea.
South Korea Office Furniture Market Trends
Rise in Commercial Offices in South Korea is Driving the Growth in the Market
The commercial office sector in South Korea has experienced significant growth in recent years. The various factors contribute to the development of the market, including increased foreign investment, government support for business expansion, and a growing economy.
One of the key drivers of the rise in commercial offices is the increasing number of multinational companies establishing a presence in South Korea. These companies require office space to accommodate their operations, leading to increased demand for the office furniture market.
Additionally, the South Korean government has implemented various policies to attract foreign investment (FDI) and support the growth of businesses. These policies include tax incentives, streamlined regulatory processes, and infrastructure development, all of which have contributed to the expansion of the commercial office sector, which impacts the growth of the office furniture market.
Rise in Online Sales is Driving the Market
Online office furniture sales have experienced a notable expansion in recent years, propelled by several factors. These factors comprise the increasing prevalence of remote work, the convenience of online shopping, and the accessibility of a wide range of competitively priced products. South Korea boasts a robust e-commerce framework and a high rate of internet penetration, which have bolstered online sales growth across multiple industries, including furniture. The South Korean office furniture market is highly competitive, with local and international companies providing various products to satisfy diverse consumer demand.
South Korea Office Furniture Industry Overview
The South Korean Office Furniture Market is fragmented with the presence of many players. The market players are concentrating on forming strategic partnerships, product innovation, and expanding their operations to gain a competitive edge. Consider cultural preferences and design aesthetics to tailor your products for the South Korean market. Adapting to local tastes can significantly enhance your appeal and market penetration. Moreover, players include Fursys Inc., Livart Furniture Co. Ltd, Sangdo Furniture Co. Ltd, Kaos Co., Ltd, and Patra Co. Ltd.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
The South Korean office furniture market is expected to experience growth in the foreseeable future, driven by factors such as an increase in the number of start-ups and home offices and a heightened focus on employee health and well-being. Office furniture encompasses a variety of items such as desks, office chairs, storage cabinets, and other furnishings commonly found in work environments.
The office furniture market in South Korea is growing steadily, driven by increasing demand for ergonomic and aesthetically pleasing office furniture, the expansion of commercial office spaces, and a focus on creating modern work environments. South Korea's office furniture market is also influenced by smart office solutions and sustainability trends, with companies seeking eco-friendly and energy-efficient furniture options. Additionally, the rise of remote work and the need for home office furniture have fueled the demand for innovative and functional office furniture in South Korea.
South Korea Office Furniture Market Trends
Rise in Commercial Offices in South Korea is Driving the Growth in the Market
The commercial office sector in South Korea has experienced significant growth in recent years. The various factors contribute to the development of the market, including increased foreign investment, government support for business expansion, and a growing economy.
One of the key drivers of the rise in commercial offices is the increasing number of multinational companies establishing a presence in South Korea. These companies require office space to accommodate their operations, leading to increased demand for the office furniture market.
Additionally, the South Korean government has implemented various policies to attract foreign investment (FDI) and support the growth of businesses. These policies include tax incentives, streamlined regulatory processes, and infrastructure development, all of which have contributed to the expansion of the commercial office sector, which impacts the growth of the office furniture market.
Rise in Online Sales is Driving the Market
Online office furniture sales have experienced a notable expansion in recent years, propelled by several factors. These factors comprise the increasing prevalence of remote work, the convenience of online shopping, and the accessibility of a wide range of competitively priced products. South Korea boasts a robust e-commerce framework and a high rate of internet penetration, which have bolstered online sales growth across multiple industries, including furniture. The South Korean office furniture market is highly competitive, with local and international companies providing various products to satisfy diverse consumer demand.
South Korea Office Furniture Industry Overview
The South Korean Office Furniture Market is fragmented with the presence of many players. The market players are concentrating on forming strategic partnerships, product innovation, and expanding their operations to gain a competitive edge. Consider cultural preferences and design aesthetics to tailor your products for the South Korean market. Adapting to local tastes can significantly enhance your appeal and market penetration. Moreover, players include Fursys Inc., Livart Furniture Co. Ltd, Sangdo Furniture Co. Ltd, Kaos Co., Ltd, and Patra Co. Ltd.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rise in New Offices in South Korea
4.2.2 Wide Range of Design Broadening Consumer Base
4.3 Market Restraints
4.3.1 Fluctuations in Raw Material Prices and Rise in Shipping Prices
4.3.2 Intense Competition from Both Local and International Players
4.4 Market Opportunities
4.4.1 Advancement in Innovative and Cost-efficient Furniture Solutions
4.5 Industry Value Chain/Supply Chain Analysis
4.6 Industry Attractiveness - Porter's Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
4.7 Insights on Current Trends and Innovations in the Market
4.8 Impact of COVID-19 on the Market
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Chairs
5.1.2 Tables
5.1.3 Storage Cabinets
5.1.4 Desks
5.1.5 Other Office Furniture
5.2 By Material
5.2.1 Wood
5.2.2 Metal
5.2.3 Plastic
5.2.4 Other Materials
5.3 By Distribution Channel
5.3.1 Offline
5.3.2 Online
6 COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Fursys Inc.
6.2.2 Livart Furniture Co. Ltd
6.2.3 Sangdo Furniture Co. Ltd
6.2.4 Kaos Co. Ltd
6.2.5 Patra Co. Ltd
6.2.6 Yhahoung Office Furniture Co. Ltd
6.2.7 Dawon Chair
6.2.8 Fomers Furniture
6.2.9 Armindo
6.2.10 Merryfair*
7 MARKET OPPORTUNTIES AND FUTURE TRENDS
8 DISCLAIMER AND ABOUT US
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rise in New Offices in South Korea
4.2.2 Wide Range of Design Broadening Consumer Base
4.3 Market Restraints
4.3.1 Fluctuations in Raw Material Prices and Rise in Shipping Prices
4.3.2 Intense Competition from Both Local and International Players
4.4 Market Opportunities
4.4.1 Advancement in Innovative and Cost-efficient Furniture Solutions
4.5 Industry Value Chain/Supply Chain Analysis
4.6 Industry Attractiveness - Porter's Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
4.7 Insights on Current Trends and Innovations in the Market
4.8 Impact of COVID-19 on the Market
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Chairs
5.1.2 Tables
5.1.3 Storage Cabinets
5.1.4 Desks
5.1.5 Other Office Furniture
5.2 By Material
5.2.1 Wood
5.2.2 Metal
5.2.3 Plastic
5.2.4 Other Materials
5.3 By Distribution Channel
5.3.1 Offline
5.3.2 Online
6 COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Fursys Inc.
6.2.2 Livart Furniture Co. Ltd
6.2.3 Sangdo Furniture Co. Ltd
6.2.4 Kaos Co. Ltd
6.2.5 Patra Co. Ltd
6.2.6 Yhahoung Office Furniture Co. Ltd
6.2.7 Dawon Chair
6.2.8 Fomers Furniture
6.2.9 Armindo
6.2.10 Merryfair*
7 MARKET OPPORTUNTIES AND FUTURE TRENDS
8 DISCLAIMER AND ABOUT US
