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Home & Garden Product Retail in South Korea

Summary

Home & Garden Product Retail in South Korea industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2017-21, and forecast to 2026). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Key Highlights

- The home & garden products market consists of gardening and outdoor living products, home improvement products, and homewares. Gardening and outdoor living includes garden buildings, manual and electric garden tools, garden utensils, outdoor living products (garden furniture, barbecues, ornaments), and plants and growing media (bulbs, compost, domestic fertilizer, flowering plants, seeds, shrubs and trees). Home improvement includes retail (not trade) sales of decorating materials (paint, varnish, wall tiles, wallpaper), Electricals hardware (alarms, light fittings, plugs, switches), hardware (brackets, locks, nails, bolts, nuts, etc.), other materials (adhesive, aggregates, boards, cement, doors, window frames, glass, bricks, timber, etc.), and manual and power tools. Homewares includes retail sales of home hardware (crockery, cutlery, glassware, rubbish bins, storage, mechanical utensils and home devices e.g. scales), lamps and lampshades, textiles and soft furnishings (bathroom textiles, beddings, cushions, futons, hammocks, mattresses, table linen, furniture covers, doormats), and window dressings (blinds, curtain poles, rails, curtains, hooks). All market data and forecasts are represented as a consumer expenditure in retailers which includes sales taxes (e.g. VAT) and figures presented are in nominal terms (i.e., without adjustment for inflation) and all currency conversions used in the creation of this report have been calculated using constant 2021 annual average exchange rates.
- The South Korean home & garden product retail market had total revenues of $26.5bn in 2021, representing a compound annual growth rate (CAGR) of 4% between 2017 and 2021.
- Home Improvement and Gardening Supplies Specialists account for the largest proportion of sales in the South Korean home & garden product retail market in 2021, sales through this channel generated $10.6bn, equivalent to 40% of the market's overall value.
- South Korean market was resilient to the impact of COVID-19 and saw an accelerated growth in 2020. South Korean consumers generally have spent more time at home in 2020 sue to lockdown restrictions. This has stimulated demand for home and garden products. In 2021, the market decelerates but experience moderate growth. This is attributed to the sustained working conditions throughout the year.

Scope

- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the home & garden product retail market in South Korea
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the home & garden product retail market in South Korea
- Leading company profiles reveal details of key home & garden product retail market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the South Korea home & garden product retail market with five year forecasts by both value and volume

Reasons To Buy

- What was the size of the South Korea home & garden product retail market by value in 2021?
- What will be the size of the South Korea home & garden product retail market in 2026?
- What factors are affecting the strength of competition in the South Korea home & garden product retail market?
- How has the market performed over the last five years?
- What are the main segments that make up South Korea's home & garden product retail market?