South Korea Home Textile Market Size (2024 - 2029)

The South Korea Home Textile Market is experiencing significant growth, driven by an increasing demand for home furnishings and a shift in consumer preferences towards health-conscious living spaces. This transformation is contributing to the expansion of the market size, as home textiles evolve from primarily decorative uses to essential components for protection and decoration. The residential segment, particularly for duvets, is witnessing heightened demand, alongside a growing interest in environmentally friendly products. Despite challenges posed by the COVID-19 pandemic, which disrupted supply chains and affected pricing, the market is poised for growth, supported by government initiatives like the Green Star certification.

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Market Size of South Korea Home Textile Industry

South Korea Home Textile Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR (2024 - 2029) 5.00 %

Major Players

South Korea Home Textile Market Major Players

*Disclaimer: Major Players sorted in no particular order

South Korea Home Textile Market Analysis

The South Korea Home Textile Market is expected to register a CAGR of greater than 5% during the forecast period(2024-2029).

South Korea's textile industry is observing changes and stages as the world's 7th largest exporter of textiles. The textile industry of South Korea is undergoing a major transformation with an increase in home furnishing. Home textiles are increasing the protection and decoration of home furnishings in the market. In the past, home textiles were mostly used for decoration purposes. However, consumer desire for health space is growing the demand for home textiles in the market rapidly.

The residential segment is seeing rising demand for duvets in home textiles. There is a growing demand for environmentally friendly products in the market. Thereby many players are investing in the products. Demand for home products and rising awareness among customers are expected to drive the growth of textiles in the forecasted period. Green Star certification announced by the Korean government will further add to the cost of the government.

The rapid COVID-19 outbreak affected the South Korean economy. It spread several difficulties to the home textile industry, where most of the market is under pressure, and disturbed the textile supply chain from fabric to garments. The lockdown of factories and retail stores completely affected the home textile. Due to this situation, the pricing also fell in the domestic and International markets.

South Korea Home Textile Industry Segmentation

Home textiles are fabrics and clothes used specifically for furnishing a residence. The functional and aesthetic uses of each define the materials and design of each. The report covers a complete South Korea Home Textile Market background analysis. It includes an economic assessment and the sector's contribution to the economy, a market overview, market size estimation for key segments, emerging trends in the market segments, market dynamics, and logistics spending by the end-user industries.

South Korea Home Textile Market Is Segmented By Product (Bed Linen, Bath Linen, Kitchen Linen, Upholstery Covering, And Floor Covering), Distribution (Supermarkets & Hypermarkets, Specialty Stores, Online And Other Distribution Channels), And End-User (Residential And Commercial (Hospitality And Leisure, Hospital, Offices, And Other Commercial End Users)). The Report Offers The Market Sizes And Forecasts In Value (USD) For All The Above Segments.

By Product
Bed Linen
Bath Linen
Kitchen Linen
Upholstery Covering
Floor Covering
By Distribution
Supermarkets & Hypermarkets
Specialty Stores
Online
Other Distribution Channels
By End-User
Residential
Commercial
Hospitality and Leisure
Hospital
Offices
Other Commercial End-Users
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South Korea Home Textile Market Size Summary

The South Korea home textile market is experiencing significant growth, driven by a shift in consumer preferences towards health-conscious and eco-friendly products. As the seventh largest textile exporter globally, South Korea's industry is undergoing a transformation with increased focus on home furnishings that offer both protection and decoration. The demand for home textiles is rapidly rising, fueled by a growing consumer desire for healthier living spaces. This trend is particularly evident in the residential segment, where there is a notable increase in the demand for duvets and bed linens. The market is also seeing a surge in interest for environmentally friendly products, prompting many companies to invest in sustainable offerings. The introduction of the Green Star certification by the Korean government is expected to further enhance the market's growth trajectory.

The South Korean home textile market is characterized by its technological advancements and rising competition, particularly from e-commerce channels. With a high adoption rate of technology, the market is witnessing innovations such as 3-D printed textiles and nanotechnology applications, which are gaining traction among consumers. The market is fragmented, with numerous small and local players competing alongside larger companies, and facing competition from manufacturers in China, India, and Vietnam. The COVID-19 pandemic posed challenges by disrupting supply chains and affecting pricing, but the market is rebounding with new trends in bedding and increased online consumption. Collaborations, such as those between Origin Materials Inc. and Hyosung Advanced Materials Corp., highlight the industry's focus on sustainability and innovation, further propelling the market forward.

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South Korea Home Textile Market Size - Table of Contents

  1. 1. MARKET INSIGHTS AND DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Industry Value Chain Analysis

    5. 1.5 Industry Attractiveness- Porter's Five Forces Analysis

      1. 1.5.1 Bargainning Power of Suppliers

      2. 1.5.2 Bargainning Power of Buyers

      3. 1.5.3 Threat of New Entrants

      4. 1.5.4 Threat of Substitutes

      5. 1.5.5 Intensity of Competative Rivalry

    6. 1.6 Insights into Latest Technological Innovations and Recent Trends in the Industry

    7. 1.7 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Product

      1. 2.1.1 Bed Linen

      2. 2.1.2 Bath Linen

      3. 2.1.3 Kitchen Linen

      4. 2.1.4 Upholstery Covering

      5. 2.1.5 Floor Covering

    2. 2.2 By Distribution

      1. 2.2.1 Supermarkets & Hypermarkets

      2. 2.2.2 Specialty Stores

      3. 2.2.3 Online

      4. 2.2.4 Other Distribution Channels

    3. 2.3 By End-User

      1. 2.3.1 Residential

      2. 2.3.2 Commercial

        1. 2.3.2.1 Hospitality and Leisure

        2. 2.3.2.2 Hospital

        3. 2.3.2.3 Offices

        4. 2.3.2.4 Other Commercial End-Users

South Korea Home Textile Market Size FAQs

The South Korea Home Textile Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)

IKEA Korea, Allerman co., Ltd., The Willbes & Co., Ltd., Texview Corporation. and Evezary are the major companies operating in the South Korea Home Textile Market.

South Korea Home Textile Market Report Snapshots

South Korea Home Textile Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)