Market Size of South Korea Home Textile Industry
| 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.webp)
*Disclaimer: Major Players sorted in no particular order |
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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.
