South Korea Home Textile Market Size, Share, and COVID-19 Impact Analysis, By Product (Bed Linen, Bath Linen, Kitchen Linen, Upholstery Covering, Floor Covering, Others), By Distribution Channel (Supermarkets & Hypermarkets, Specialty Stores, E-Commerce, Others), and South Korea Home Textile Market Insights Forecasts to 2032

Industry: Consumer Goods

RELEASE DATE Dec 2023
REPORT ID SI3172
PAGES 200
REPORT FORMAT PathSoft

South Korea Home Textile Market Insights Forecasts to 2032

  • The South Korea Home Textile Market Size was valued at USD XX Billion in 2022.
  • The Market Size is Growing at a CAGR of 4.9% from 2022 to 2032.
  • The South Korea Home Textile Market Size is Expected to Reach USD XX Billion by 2032.

 

South Korea Home Textile Market

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The South Korea Home Textile Market Size is Expected to Reach USD XX Billion by 2032, at a CAGR of 4.9% during the forecast period 2022 to 2032.

 

Market Overview

Home textiles are a wide range of products made from various fabrics and materials that are used for a variety of purposes in residential settings. These items are not only functional but also decorative, allowing homeowners to express their style and create inviting living spaces. South Korea's textile industry is observing changes and stages as the 7th largest exporter of textiles in the world. With an increase in home furnishing, South Korea's textile industry is undergoing a major transformation. Home textiles are increasing the market's protection and decoration of home furnishings. Over the forecast period, home textiles were mostly used for decoration; however, consumer desire for health space is rapidly increasing the market demand for home textiles. The residential segment is seeing rising demand for duvets in the home textiles segment, and there has been a growing demand in the market for environmentally friendly products, so many players are investing in the products. Textiles are expected to grow in the forecasted period due to rising customer awareness and demand for home products. The Korean government's announcement of green star certification will increase the government's costs.

 

Report Coverage

This research report categorizes the market for South Korea’s home textile 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 textile 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 textile market.

 

South Korea Home Textile Market Report Coverage

Report CoverageDetails
Base Year:2022
Market Size in 2022:USD XX Billion
Forecast Period:2022-2032
Forecast Period 2022-2032 CAGR:4.9%
2032 Value Projection:USD XX Billion
Historical Data for:2018-2021
No. of Pages:200
Tables, Charts & Figures:110
Segments covered:By Product, By Distribution, and COVID-19 Impact Analysis.
Companies Covered: IKEA Korea, Allerman Co., Ltd., The Willbes & Co., Ltd., Texview Corporation., Evezary, Hanwha Group, Kolon Industries, Inc., DAE-A Co., Ltd., Shinhan Industrial Co., Ltd., E-Land Group, Doh Interiart, Tesco PLC (Tesco Stores Limited), Livart Furniture Co., Ltd., Nilkamal Limited, and Others
Pitfalls & Challenges:COVID-19 Empact, Challenge, Future, Growth, & Analysis

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Driving Factors

The South Korean population's growing affluence has increased their spending capacity on home furnishings, including home textiles. Furthermore, urbanization trends have resulted in an increase in residential construction and, as a result, a higher demand for home textile products. In addition, consumer preferences for more comfortable and visually appealing home environments are driving demand for innovative home textile solutions. Additionally, the popularity of home decor influencers and interior design content on social media platforms has increased demand for fashionable home textiles. People are becoming more interested in environmentally friendly products as a result of environmental concerns. Because natural fibers are more environmentally friendly than synthetic fibers, manufacturers all over the world are creating products that use them. Bamboo furniture and wood drapes are two examples of aesthetically pleasing products. Manufacturers are now using natural fibers instead of chemical colors. As a result, rising demand for eco-friendly home furnishings will provide opportunities for South Korea home textile market expansion during the forecast period.

 

Restraining Factors

The influx of low-cost domestic textile imports from other countries may present difficulties for domestic manufacturers. Volatility in textile raw material prices can have an impact on overall production costs, affecting profit margins. While there is growing interest in sustainable textiles, the adoption of environmentally friendly practices throughout the supply chain may be slow.

 

Market Segment

  • In 2022, the bed linen restaurants segment accounted for a major share over the forecast period.

Based on the product, the South Korea home textile market is segmented into bed linen, bath linen, kitchen linen, upholstery covering, floor covering, and others. Among these, the bed linen segment accounted for a major share over the forecast period. The growth can be attributed to a rise in the demand for mattresses and good sleep, which in turn is leading to the demand for bed linen in the market. New bedding market trends are emerging as consumers seek more functional bedding and eco-friendly bedding. Households with cafes and dining areas are primarily driving the demand for healthy bedding at home. In the market, there is a growing social consensus for healthy bed linen that keeps dust at bay. Cost reductions and mass customization are expected to drive segmental growth during the forecast period.

 

  • In 2022, the e-commerce segment accounted fastest growth over the forecast period.

Based on distribution channel, the South Korean home textile market is segmented into supermarkets & hypermarkets, specialty stores, e-commerce, and others. Among these, the e-commerce segment accounted fastest growth over the forecast period. The market's consumption of home textiles via e-commerce distribution channels has been increasing. Technological advancements such as easy order placement and direct delivery of goods are increasing market consumption of products such as bedspreads, duvets, and linen.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea home textile 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.

  • IKEA Korea
  • Allerman Co., Ltd.
  • The Willbes & Co., Ltd.
  • Texview Corporation.
  • Evezary
  • Hanwha Group
  • Kolon Industries, Inc.
  • DAE-A Co., Ltd.
  • Shinhan Industrial Co., Ltd.
  • E-Land Group
  • Doh Interiart
  • Tesco PLC (Tesco Stores Limited)
  • Livart Furniture Co., Ltd.
  • Nilkamal Limited
  • Others

 

Key Target Audience

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

 

Recent Development

  • In January 2023, Pure-Lex, a South Korean startup, joined the healthcare business with US tech company Nvidia Corp. to launch an artificial intelligence AI-based pillow that helps reduce snoring and sleep apnea this year.

 

Market Segment

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

 

South Korea Home Textile Market, By Product

  • Bed Linen
  • Bath Linen
  • Kitchen Linen
  • Upholstery Covering
  • Floor Covering
  • Others

 

South Korea Home Textile Market, By Distribution Channel

  • Supermarkets & Hypermarkets
  • Specialty Stores
  • E-Commerce
  • Others

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