South Korea Home Textile Market Size
| 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.
South Korea Home Textile Market Trends
Growing Bed Linen Segment
The bedding market in Korea is valued at USD 1.5 trillion the previous year. Individuals in South Korea shows a lot of interest in bed linen as there is a rise in the demand for mattress and good sleep. It is, in turn, leading to the bed linen demand in the market.
New trends in the bedding market are showing up as consumers are desiring more functional and eco-friendly bedding. Households with cafes at home and dining are mostly leading to the healthy bedding demand at home.
Social consensus for healthy bed linen that keeps away dust linen is growing in the market. Reduced costs and mass customization is expected to drive the market. Crown Goose bedding is popular in the market owing to technology famous for high quality. The fluffy goose is used for the special method of down proof. 3-D printed and cotton textiles using nanotechnologies are getting traction in the market.
Rising E-commerce in The Market
The technological level in the textile industry of South Korea rose considerably, with around 85% use of technologies in the market. The market for home textile consumption through online distribution of channels is rising. Technological innovations such as easy order placement and direct goods delivery are increasing product consumption, such as bedspreads, duvets, and linen in the market.
The market competition is rising due to the growth in the e-commerce channel. With the rise in the number of websites, the market is also experiencing growth. Innovations in sleep technology, such as herbal, microbial, and anti-mist, are the future of the home textile market.
South Korea Home Textile Industry Overview
South Korea Home textile market is fragmented, with various small and local players and a large number of small companies present in the market. The home textile of the South Korean market is facing rising competition from manufacturers from China, India, and Vietnam. South Korean companies relocated to other destinations due to market competitiveness, minimum wage, and high-quality workforce between players.
South Korea Home Textile Market Leaders
IKEA Korea
Allerman co., Ltd.
The Willbes & Co., Ltd.
Texview Corporation.
Evezary
*Disclaimer: Major Players sorted in no particular order
South Korea Home Textile Market News
- March 2023: Origin Materials Inc. partnered with South Korean industrial conglomerate Hyosung Advanced Materials Corp. to use Origin's zero-carbon plastic and make sustainable and high-value specialty materials.
- Jan 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.
South Korea Home Textile Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Defination
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness- Porter's Five Forces Analysis
4.5.1 Bargainning Power of Suppliers
4.5.2 Bargainning Power of Buyers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competative Rivalry
4.6 Insights into Latest Technological Innovations and Recent Trends in the Industry
4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Product
5.1.1 Bed Linen
5.1.2 Bath Linen
5.1.3 Kitchen Linen
5.1.4 Upholstery Covering
5.1.5 Floor Covering
5.2 By Distribution
5.2.1 Supermarkets & Hypermarkets
5.2.2 Specialty Stores
5.2.3 Online
5.2.4 Other Distribution Channels
5.3 By End-User
5.3.1 Residential
5.3.2 Commercial
5.3.2.1 Hospitality and Leisure
5.3.2.2 Hospital
5.3.2.3 Offices
5.3.2.4 Other Commercial End-Users
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Evezary
6.2.2 IKEA Korea
6.2.3 Allerman co., Ltd.
6.2.4 The Willbes & Co., Ltd.
6.2.5 Texview Corporation
6.2.6 Seo Yoon Fabrics Co., Ltd
6.2.7 Songwol Co., Ltd.
6.2.8 Hyosung Tnc.
6.2.9 Songpa Terra Tower
6.2.10 Bogwang I&t*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
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 | ||||||
|
South Korea Home Textile Market Research FAQs
What is the current South Korea Home Textile Market size?
The South Korea Home Textile Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in South Korea Home Textile Market?
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.
What years does this South Korea Home Textile Market cover?
The report covers the South Korea Home Textile Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the South Korea Home Textile Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
South Korea Home Textile Industry Report
Statistics for the 2024 South Korea Home Textile market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South Korea Home Textile analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
