South Korea Furniture Market (2020-2026) | Share, Industry, COVID-19 IMPACT, Growth, Outlook, Analysis, Companies, Revenue, Trends, Size, Forecast & Value

south korea furniture market Synopsis

The South Korea furniture market is forecast to register a CAGR of 7.9% during the period 2020-2026, driven by rising disposable income, growing urbanization, and an increase in online shopping. Factors such as changing lifestyle preferences and government initiatives are also expected to drive the furniture market growth in South Korea over the projected period. Moreover, increasing demand for multi-functional furniture with advanced features such as smart connectivity technology will further boost the growth of this market during this forecast period.

In terms of product type, seating (sofa) segment is expected to hold a major share of the overall industry revenue during 2020-2026 owing to changing lifestyles and rising trends towards home decor products among consumers in South Korea. In addition, sofa beds are gaining popularity due to their space utilization capabilities which suit today`s compact living spaces among young population groups looking for convenience and comfort while purchasing furniture products from leading brands like Samsung SDS Co., Ltd., Hyundai Card Co., Ltd., etc.

Also increasing investments from foreign investors coupled with government initiatives aimed at boosting exports through tax incentives on imported materials have resulted into increased presence of international players offering premium quality furniture products across South Korea which will continue aiding expansion prospects for domestic manufacturers over coming years.

Key Highlights of the Report:

• South Korea Furniture Market Outlook
• Market Size of South Korea Furniture Market, 2019
• Forecast of South Korea Furniture Market, 2026
• Historical Data and Forecast of South Korea Furniture Revenues & Volume for the Period 2016 - 2026
• South Korea Furniture Market Trend Evolution
• South Korea Furniture Market Drivers and Challenges
• South Korea Furniture Price Trends
• South Korea Furniture Porter's Five Forces
• South Korea Furniture Industry Life Cycle
• Historical Data and Forecast of South Korea Furniture Market Revenues & Volume By Material Types for the Period 2016 - 2026
• Historical Data and Forecast of South Korea Furniture Market Revenues & Volume By Plastic for the Period 2016 - 2026
• Historical Data and Forecast of South Korea Furniture Market Revenues & Volume By Wood for the Period 2016 - 2026
• Historical Data and Forecast of South Korea Furniture Market Revenues & Volume By Metal for the Period 2016 - 2026
• Historical Data and Forecast of South Korea Furniture Market Revenues & Volume By Other for the Period 2016 - 2026
• Historical Data and Forecast of South Korea Furniture Market Revenues & Volume By Applications for the Period 2016 - 2026
• Historical Data and Forecast of South Korea Furniture Market Revenues & Volume By Residential for the Period 2016 - 2026
• Historical Data and Forecast of South Korea Furniture Market Revenues & Volume By Commercial for the Period 2016 - 2026
• South Korea Furniture Import Export Trade Statistics
• Market Opportunity Assessment By Material Types
• Market Opportunity Assessment By Applications
• South Korea Furniture Top Companies Market Share
• South Korea Furniture Competitive Benchmarking By Technical and Operational Parameters
• South Korea Furniture Company Profiles
• South Korea Furniture Key Strategic Recommendations