South Korea Home Office Furniture Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Seating, Storage Units & File Cabinets, Desks & Tables, Others), By Material Type (Wood, Metal, Plastic, Glass, Others), By Price range (Low, Medium, High), and South Korea Home Office Furniture Market Insights Forecasts to 2032

Industry: Electronics, ICT & Media

RELEASE DATE Dec 2023
REPORT ID SI3307
PAGES 200
REPORT FORMAT PathSoft

South Korea Home Office Furniture Market Size Insights Forecasts to 2032

  • The South Korea Home Office Furniture Market Size was valued at USD 287.3 Million in 2022.
  • The Market Size is Growing at a CAGR of 3.6% from 2022 to 2032.
  • The South Korea Home Office Furniture Market Size is Expected to Reach USD 409.1 Million by 2032.

South Korea Home Office Furniture Market

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South Korea Home Office Furniture Market Size is Expected to Reach USD 409.1 Million by 2032, at a CAGR of 3.6% during the forecast period 2022 to 2032.

 

Market Overview

Home office furniture is a category of furniture that is specifically designed to create functional workspaces in residential settings. It includes desks, chairs, storage units, shelves, and other accessories designed to meet the specific requirements of remote work and study. With the increasing popularity of remote work and flexible working arrangements, home office furniture is essential for providing ergonomic support, organization, and comfort. These furnishings are intended to maximize space utilization, boost productivity, and foster an environment conducive to tasks such as remote work, online learning, and personal projects. As more individuals seek effective ways to integrate work and living spaces, home office furniture is gaining popularity as an essential component of modern living, contributing to better work-life balance and overall efficiency.

 

Report Coverage

This research report categorizes the market for South Korea’s home office furniture market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea home office furniture market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the South Korea home office furniture market.

 

South Korea Home Office Furniture Market Report Coverage

Report CoverageDetails
Base Year:2022
Market Size in 2022:USD 287.3 Million
Forecast Period:2022-2032
Forecast Period 2022-2032 CAGR:3.6%
2032 Value Projection: USD 409.1 Million
Historical Data for:2019-2021
No. of Pages:200
Tables, Charts & Figures:100
Segments covered:COVID-19 Impact Analysis, By Product Type, By Material Type, By Price range
Companies Covered: Fursys, Livart Neoce, Sangdo Furniture Co., Ltd, Kaos Co., Ltd., Dawon Chair Co. Ltd., Fomers Furniture, Hyundai Livart Corporation, Merryfair, Patra Inc., and Others key vendors,
Pitfalls & Challenges:COVID-19 Empact,Challenges, Future, Growth, & Analysis

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Driving Factors

The rising demand for ergonomic and functional furniture that supports productive home workspaces, fueled by technological advancements and changing work dynamics, will drive South Korea market growth during the forecast period. Furthermore, as the concept of work-life balance evolves, increasing investments in creating comfortable and organized home office environments has increased demand for stylish and versatile furniture solutions. Aside from that, the growing trend of freelancing, entrepreneurship, and online learning has fueled the demand for dedicated home workspaces, propelling sales of desks, chairs, storage units, and accessories tailored to specific needs. Furthermore, owing to rapid urbanization and limited living spaces, there is an increasing demand for compact and space-saving furniture options, which is propelling market growth. Moreover, the growing influence of interior design trends and the desire for aesthetically pleasing work environments have increased demand for home office furniture that seamlessly integrates with residential decor, contributing to market growth during forecast period.

 

Restraining Factors

Prices for raw materials used in furniture manufacturing, such as chipboard, wood, foam, polish chemical materials, color paints, and hardware, have risen. Timber production, on the other hand, has decreased dramatically as a result of unchecked deforestation. Furthermore, increased environmental awareness and conflict have resulted in more stringent regulations governing the use of wood. To meet demand, the forest industry in many parts has turned to plantations. All of these factors are impeding the growth of the South Korea home office furniture market.

 

Market Segment

  • In 2022, the seating segment accounted for the largest revenue share over the forecast period.

Based on product type, the South Korea home office furniture market is segmented into seating, storage units & file cabinets, desks & tables, and others. Among these, the seating segment has the largest revenue share over the forecast period. Seating refers to a variety of chairs that are designed to provide comfort, support, and functionality during work and leisure activities. Ergonomic task chairs that promote proper posture, executive chairs for a professional touch, and versatile stools for dynamic work environments are all available as seating options. As remote work and flexible arrangements become more common, the importance of ergonomic and comfortable seating grows. Workplace seating that is well-designed increases productivity and contributes to overall well-being by lowering the risk of musculoskeletal issues and fatigue.

 

  • In 2022, the wood segment accounted for the largest revenue share over the forecast period.

Based on material type, the South Korea home office furniture market is segmented into wood, metal, plastic, glass, and others. Among these, the wood segment has the largest revenue share over the forecast period. Wood is available in a variety of finishes and styles, catering to a wide range of interior design preferences and aesthetics. Wood in home office furniture adds warmth and sophistication to workspaces, creating a balanced and inviting environment. As the demand for aesthetically pleasing and functional home office setups grows, wood emerges as a preferred material due to its ability to blend in with a variety of home interiors.

 

  • In 2022, the medium segment accounted for the largest revenue share over the forecast period.

Based on price range, the South Korea home office furniture market is segmented into low, medium, and high. Among these, the medium segment has the largest revenue share over the forecast period. The medium price range occupies a critical position in home office furniture by striking a balance between affordability and quality. Medium-priced furniture, which sits between budget and premium options, appeals to a wide range of consumers looking for good value without sacrificing functionality and durability. This price range drives the market by meeting the needs of both budget-conscious consumers and those seeking higher-quality materials and designs. Medium-priced home office furniture provides consumers with ergonomic features, stylish aesthetics, and dependable performance without requiring a large financial investment.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea home office furniture market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

  • Fursys
  • Livart Neoce
  • Sangdo Furniture Co., Ltd
  • Kaos Co., Ltd.
  • Dawon Chair Co. Ltd.
  • Fomers Furniture
  • Hyundai Livart Corporation
  • Merryfair
  • Patra Inc.
  • Others key vendors

 

Key Target Audience

  • Market Players
  • Investors
  • End-users
  • Government Authorities 
  • Consulting and Research Firm
  • Venture capitalists
  • Value-Added Resellers (VARs)

 

Market Segment

This study forecasts revenue at regional, and country levels from 2021 to 2032. Spherical Insights has segmented the South Korea home office furniture market based on the below-mentioned segments:

 

South Korea Home Office Furniture Market, By Product Type

  • Seating
  • Storage Units & File Cabinets
  • Desks & Tables
  • Others

 

South Korea Home Office Furniture Market, By Material Type

  • Wood
  • Metal
  • Plastic
  • Glass
  • Others

 

South Korea Home Office Furniture Market, By Price Range

  • Low
  • Medium
  • High

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