Executive Summary

Apr 2019
Various factors support the growth of home and garden in 2018

Overall, home and garden continued to grow in retail current value terms in 2018. Despite the slowdown in economic growth in South Korea, home and garden showed a positive performance; therefore, major players extended their traditional business territories, such as home furnishings companies entering home improvement, and players in home improvement moving into home furnishings, particularly home living areas.

Mergers and acquisitions, IoT and radonphobia in home furnishings

Home furnishings has been changed by mergers and acquisitions. Hyundai Livart, a home furnishings company, acquired Hanwha L&C, a leading company in home improvement.

Hanssem maintains its strong lead

Hanssem maintained its lead in home and garden in 2018, thanks to its large number of retail shops, Rehaus consulting service and extension to various distribution channels. Hanssem has around 360 home furnishing outlets, and small home interiors shops also have partnerships with the company; thus, most consumers can find services from the brand in their local town.

The slow decrease in the importance of offline channels

The majority of sales in home and garden took place in offline channels such as homewares and home furnishing stores, home improvement and gardening stores, department stores and hypermarkets in 2018. Homewares and home furnishing stores gradually increased its share over the review period, because consumers like to see and feel tangible products.

Stronger growth for home and garden

Home and garden is expected to see a strong current value CAGR over the forecast period – stronger than that seen in the review period. Home furnishings is expected to see especially strong growth in indoor living and lighting, with much weaker growth in outdoor living.

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Home and Garden in South Korea

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Overview

Discover the latest market trends and uncover sources of future market growth for the Home and Garden industry in South Korea with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Home and Garden industry in South Korea, our research will save you time and money while empowering you to make informed, profitable decisions.

The Home and Garden in South Korea market research report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic values, company and brand market shares
  • Five year forecasts of market trends and market growth
  • Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

  • What is the market size of Home and Garden in South Korea?
  • What are the major brands in South Korea?
  • Is DIY suffering or benefiting from consumer austerity?
  • How are emerging channels like internet retailing performing against leading ones like DIY and hardware stores?
  • Where is Do-it-for-me constraining sales of Do-It-Yourself?
  • In which countries are Home and Garden Specialists opening more outlets?

Why buy this report?

  • Gain competitive intelligence about market leaders
  • Track key industry trends, opportunities and threats
  • Inform your marketing, brand, strategy and market development, sales and supply functions

This industry report originates from Passport, our DIY and Gardening market research database.

Home and Garden in South Korea

EXECUTIVE SUMMARY

Various factors support the growth of home and garden in 2018
Mergers and acquisitions, IoT and radonphobia in home furnishings
Hanssem maintains its strong lead
The slow decrease in the importance of offline channels
Stronger growth for home and garden

MARKET DATA

Table 1 Sales of Home and Garden by Category: Value 2013-2018
Table 2 Sales of Home and Garden by Category: % Value Growth 2013-2018
Table 3 NBO Company Shares of Home and Garden: % Value 2014-2018
Table 4 LBN Brand Shares of Home and Garden: % Value 2015-2018
Table 5 Penetration of Private Label in Home and Garden by Category: % Value 2013-2018
Table 6 Distribution of Home and Garden by Format: % Value 2013-2018
Table 7 Distribution of Home and Garden by Format and Category: % Value 2018
Table 8 Forecast Sales of Home and Garden by Category: Value 2018-2023
Table 9 Forecast Sales of Home and Garden by Category: % Value Growth 2018-2023

SOURCES

Summary 1 Research Sources

Gardening in South Korea

HEADLINES

PROSPECTS

Constant growth in the popularity of gardening
Too early for smart gardening, but it has strong potential
A slow shift from offline to online

COMPETITIVE LANDSCAPE

Ikea Korea leads gardening
Fragmentation due to the low entry barrier
Innovations to attract consumers

CATEGORY DATA

Table 10 Sales of Gardening by Category: Value 2013-2018
Table 11 Sales of Gardening by Category: % Value Growth 2013-2018
Table 12 NBO Company Shares of Gardening: % Value 2014-2018
Table 13 LBN Brand Shares of Gardening: % Value 2015-2018
Table 14 Distribution of Gardening by Format: % Value 2013-2018
Table 15 Forecast Sales of Gardening by Category: Value 2018-2023
Table 16 Forecast Sales of Gardening by Category: % Value Growth 2018-2023

Home Furnishings in South Korea

HEADLINES

PROSPECTS

Strong competition in home furnishings
Sleeping products with IoT technology
A slow shift from offline to online

COMPETITIVE LANDSCAPE

Hanssem continues to lead home furnishings
Ikea Korea follows in second place
Radonphobia impacts mattresses

CATEGORY DATA

Table 17 Sales of Home Furnishings by Category: Value 2013-2018
Table 18 Sales of Home Furnishings by Category: % Value Growth 2013-2018
Table 19 NBO Company Shares of Home Furnishings: % Value 2014-2018
Table 20 LBN Brand Shares of Home Furnishings: % Value 2015-2018
Table 21 LBN Brand Shares of Light Sources: % Value 2015-2018
Table 22 Distribution of Home Furnishings by Format: % Value 2013-2018
Table 23 Forecast Sales of Home Furnishings by Category: Value 2018-2023
Table 24 Forecast Sales of Home Furnishings by Category: % Value Growth 2018-2023

Home Improvement in South Korea

HEADLINES

PROSPECTS

Home improvement companies expand into home furnishings
Consumers’ price-sensitivity and the querencia trend
Home improvement and gardening stores leads

COMPETITIVE LANDSCAPE

LG Hausys remains the leader in home improvement
Domestic players dominate home improvement
The rising popularity of internet retailing and home shopping

CATEGORY DATA

Table 25 Sales of Home Improvement by Category: Value 2013-2018
Table 26 Sales of Home Improvement by Category: % Value Growth 2013-2018
Table 27 NBO Company Shares of Home Improvement: % Value 2014-2018
Table 28 LBN Brand Shares of Home Improvement: % Value 2015-2018
Table 29 Distribution of Home Improvement by Format: % Value 2013-2018
Table 30 Forecast Sales of Home Improvement by Category: Value 2018-2023
Table 31 Forecast Sales of Home Improvement by Category: % Value Growth 2018-2023

Homewares in South Korea

HEADLINES

PROSPECTS

Changing family structure influences homewares
Homewares and home furnishing stores leads distribution
Hypermarkets move into the premium segment

COMPETITIVE LANDSCAPE

Homewares is led by Groupe SEB Korea
Other international companies
The declining power of domestic companies

CATEGORY DATA

Table 32 Sales of Homewares by Category: Value 2013-2018
Table 33 Sales of Homewares by Category: % Value Growth 2013-2018
Table 34 Sales of Homewares by Material: % Value 2013-2018
Table 35 NBO Company Shares of Homewares: % Value 2014-2018
Table 36 LBN Brand Shares of Homewares: % Value 2015-2018
Table 37 Distribution of Homewares by Format: % Value 2013-2018
Table 38 Forecast Sales of Homewares by Category: Value 2018-2023
Table 39 Forecast Sales of Homewares by Category: % Value Growth 2018-2023