Market Size of South Korea Office Furniture Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 691.20 Million |
| Market Size (2029) | USD 806.75 Million |
| CAGR (2024 - 2029) | 3.14 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South Korea Office Furniture Market Analysis
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 Industry Segmentation
Office furniture refers to the items and fixtures used in an office setting to support various activities such as working, seating, and storage. The South Korean office furniture market is segmented by type, material, and distribution channel. By type, the market is segmented into chairs, tables, storage cabinets, desks, and other office furniture (credenzas, hutches, modular storage, etc.). By material, the market is segmented into wood, metal, plastic, and other materials (aluminum, etc.). By distribution channel, the market is segmented into offline and online. The reports offer the market sizing and forecasts for the South Korean office furniture market in value (USD) for all the above segments.
| By Type | |
| Chairs | |
| Tables | |
| Storage Cabinets | |
| Desks | |
| Other Office Furniture |
| By Material | |
| Wood | |
| Metal | |
| Plastic | |
| Other Materials |
| By Distribution Channel | |
| Offline | |
| Online |
South Korea Office Furniture Market Size Summary
The South Korean office furniture market is poised for growth, driven by the increasing number of start-ups, the rise of home offices, and a growing emphasis on employee health and well-being. This market encompasses a wide range of products, including desks, office chairs, and storage solutions, all essential for modern work environments. The demand for ergonomic and visually appealing furniture is on the rise, fueled by the expansion of commercial office spaces and the trend towards smart office solutions. Sustainability is also a significant factor, with companies increasingly seeking eco-friendly and energy-efficient options. The shift towards remote work has further amplified the need for innovative and functional home office furniture, contributing to the market's expansion.
The commercial office sector in South Korea has seen substantial growth, supported by increased foreign investment, government initiatives, and a robust economy. The influx of multinational companies establishing operations in South Korea has heightened the demand for office furniture. Government policies aimed at attracting foreign direct investment and supporting business growth, such as tax incentives and infrastructure development, have also played a crucial role in this expansion. The market is highly competitive, with both local and international players offering a diverse range of products. Online sales have surged, driven by the convenience of e-commerce and the high internet penetration rate in South Korea. Companies are focusing on strategic partnerships, product innovation, and adapting to local design preferences to enhance their market presence.
South Korea Office Furniture Market Size - Table of Contents
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1. MARKET INSIGHTS AND DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rise in New Offices in South Korea
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1.2.2 Wide Range of Design Broadening Consumer Base
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1.3 Market Restraints
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1.3.1 Fluctuations in Raw Material Prices and Rise in Shipping Prices
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1.3.2 Intense Competition from Both Local and International Players
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1.4 Market Opportunities
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1.4.1 Advancement in Innovative and Cost-efficient Furniture Solutions
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1.5 Industry Value Chain/Supply Chain Analysis
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1.6 Industry Attractiveness - Porter's Five Forces Analysis
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1.6.1 Threat of New Entrants
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1.6.2 Bargaining Power of Buyers/Consumers
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1.6.3 Bargaining Power of Suppliers
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1.6.4 Threat of Substitute Products
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1.6.5 Intensity of Competitive Rivalry
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1.7 Insights on Current Trends and Innovations in the Market
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1.8 Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Chairs
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2.1.2 Tables
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2.1.3 Storage Cabinets
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2.1.4 Desks
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2.1.5 Other Office Furniture
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2.2 By Material
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2.2.1 Wood
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2.2.2 Metal
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2.2.3 Plastic
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2.2.4 Other Materials
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2.3 By Distribution Channel
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2.3.1 Offline
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2.3.2 Online
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South Korea Office Furniture Market Size FAQs
How big is the South Korea Office Furniture Market?
The South Korea Office Furniture Market size is expected to reach USD 691.20 million in 2024 and grow at a CAGR of 3.14% to reach USD 806.75 million by 2029.
What is the current South Korea Office Furniture Market size?
In 2024, the South Korea Office Furniture Market size is expected to reach USD 691.20 million.
