In 2022, although home and garden in South Korea saw declines in current value terms and in value terms at constant 2022 prices, sales remained higher than the pre-pandemic level, seen in 2019. The increased amount of time spent at home during the pandemic saw consumers turn their consumption focus inwards, towards the home.
The “plant parent” trend in South Korea resulted in a considerable boost to demand for gardening products during the pandemic, which continued into 2022 even as the pandemic eased. Since most South Korean consumers live in apartments, they do not have full gardens, and instead grow potted plants on balconies and in the home.
Home and garden in South Korea remained highly fragmented in 2022, with even the most prominent players accounting for a single-digit value share. South Korean furniture player Hanssem stood out as the leading player in the overall industry in 2022, followed at a distance by Swedish giant IKEA.
As South Korean society reopened post-COVID-19, and consumers began venturing out of their homes once again, the sales and share of retail e-commerce declined in overall home and garden in 2022, with a particularly steep decline seen by home furnishings. However, trade sources believe that online sales still have potential for growth, and noted that the decline in sales via retail e-commerce was only slightly higher than the decline in sales for home and garden as a whole.
Following the decline seen in value sales in 2022, home and garden in South Korea is expected to return to modest levels of value growth in current terms and at constant 2022 prices over the forecast period, as the effects of inflation subside and supply chain issues are resolved. Premiumisation is expected to gain currency in home and garden, as consumers increasingly opt for higher-quality home and garden products and are willing to pay higher prices.
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Understand the latest market trends and future growth opportunities for the Home and Garden industry in South Korea with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Home and Garden
This project has a strict focus on sales to consumers only. Trade and professional sales are excluded. Home and garden refers to gardening, home improvement, homewares and home furnishings.
See All of Our DefinitionsThis report originates from Passport, our Home and Garden research and analysis database.
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