South Korea Office Furniture Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 691.20 Million |
| Market Size (2029) | USD 806.75 Million |
| CAGR (2024 - 2029) | 3.14 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
South Korea Office Furniture Market Analysis
The South Korea Office Furniture Market size is estimated at USD 691.20 million in 2024, and is expected to reach USD 806.75 million by 2029, growing at a CAGR of 3.14% during the forecast period (2024-2029).
The South Korean office furniture market is expected to experience growth in the foreseeable future, driven by factors such as an increase in the number of start-ups and home offices and a heightened focus on employee health and well-being. Office furniture encompasses a variety of items such as desks, office chairs, storage cabinets, and other furnishings commonly found in work environments.
The office furniture market in South Korea is growing steadily, driven by increasing demand for ergonomic and aesthetically pleasing office furniture, the expansion of commercial office spaces, and a focus on creating modern work environments. South Korea's office furniture market is also influenced by smart office solutions and sustainability trends, with companies seeking eco-friendly and energy-efficient furniture options. Additionally, the rise of remote work and the need for home office furniture have fueled the demand for innovative and functional office furniture in South Korea.
South Korea Office Furniture Market Trends
Rise in Commercial Offices in South Korea is Driving the Growth in the Market
The commercial office sector in South Korea has experienced significant growth in recent years. The various factors contribute to the development of the market, including increased foreign investment, government support for business expansion, and a growing economy.
One of the key drivers of the rise in commercial offices is the increasing number of multinational companies establishing a presence in South Korea. These companies require office space to accommodate their operations, leading to increased demand for the office furniture market.
Additionally, the South Korean government has implemented various policies to attract foreign investment (FDI) and support the growth of businesses. These policies include tax incentives, streamlined regulatory processes, and infrastructure development, all of which have contributed to the expansion of the commercial office sector, which impacts the growth of the office furniture market.
Rise in Online Sales is Driving the Market
Online office furniture sales have experienced a notable expansion in recent years, propelled by several factors. These factors comprise the increasing prevalence of remote work, the convenience of online shopping, and the accessibility of a wide range of competitively priced products. South Korea boasts a robust e-commerce framework and a high rate of internet penetration, which have bolstered online sales growth across multiple industries, including furniture. The South Korean office furniture market is highly competitive, with local and international companies providing various products to satisfy diverse consumer demand.
South Korea Office Furniture Industry Overview
The South Korean Office Furniture Market is fragmented with the presence of many players. The market players are concentrating on forming strategic partnerships, product innovation, and expanding their operations to gain a competitive edge. Consider cultural preferences and design aesthetics to tailor your products for the South Korean market. Adapting to local tastes can significantly enhance your appeal and market penetration. Moreover, players include Fursys Inc., Livart Furniture Co. Ltd, Sangdo Furniture Co. Ltd, Kaos Co., Ltd, and Patra Co. Ltd.
South Korea Office Furniture Market Leaders
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Livart Furniture Co., Ltd.
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Fursys Inc.
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Sangdo Furniture Co., Ltd
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Kaos Co., Ltd.
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Patra Co., Ltd.
*Disclaimer: Major Players sorted in no particular order
South Korea Office Furniture Market News
- November 2023: Nitori Co., often referred to as Japan's IKEA, launched its inaugural store in South Korea, furthering its expansion efforts across Asia. This move aligns with Nitori Co.'s ambition to expand its total store count from 902 to 3,000 by 2032, primarily through new store openings in international markets.
- March 2022: Global e-sports organization Gen.G Esports (Gen.G) and FURSYS' chair brand Sidiz announced the renewal of a multi-year partnership and expansion of joint marketing activities from Korea to global markets.
South Korea Office Furniture Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
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
4.2.1 Rise in New Offices in South Korea
4.2.2 Wide Range of Design Broadening Consumer Base
4.3 Market Restraints
4.3.1 Fluctuations in Raw Material Prices and Rise in Shipping Prices
4.3.2 Intense Competition from Both Local and International Players
4.4 Market Opportunities
4.4.1 Advancement in Innovative and Cost-efficient Furniture Solutions
4.5 Industry Value Chain/Supply Chain Analysis
4.6 Industry Attractiveness - Porter's Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
4.7 Insights on Current Trends and Innovations in the Market
4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Chairs
5.1.2 Tables
5.1.3 Storage Cabinets
5.1.4 Desks
5.1.5 Other Office Furniture
5.2 By Material
5.2.1 Wood
5.2.2 Metal
5.2.3 Plastic
5.2.4 Other Materials
5.3 By Distribution Channel
5.3.1 Offline
5.3.2 Online
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Fursys Inc.
6.2.2 Livart Furniture Co. Ltd
6.2.3 Sangdo Furniture Co. Ltd
6.2.4 Kaos Co. Ltd
6.2.5 Patra Co. Ltd
6.2.6 Yhahoung Office Furniture Co. Ltd
6.2.7 Dawon Chair
6.2.8 Fomers Furniture
6.2.9 Armindo
6.2.10 Merryfair*
- *List Not Exhaustive
7. MARKET OPPORTUNTIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
South Korea Office Furniture Industry Segmentation
Office furniture refers to the items and fixtures used in an office setting to support various activities such as working, seating, and storage. The South Korean office furniture market is segmented by type, material, and distribution channel. By type, the market is segmented into chairs, tables, storage cabinets, desks, and other office furniture (credenzas, hutches, modular storage, etc.). By material, the market is segmented into wood, metal, plastic, and other materials (aluminum, etc.). By distribution channel, the market is segmented into offline and online. The reports offer the market sizing and forecasts for the South Korean office furniture market in value (USD) for all the above segments.
| By Type | |
| Chairs | |
| Tables | |
| Storage Cabinets | |
| Desks | |
| Other Office Furniture |
| By Material | |
| Wood | |
| Metal | |
| Plastic | |
| Other Materials |
| By Distribution Channel | |
| Offline | |
| Online |
South Korea Office Furniture Market Research FAQs
How big is the South Korea Office Furniture Market?
The South Korea Office Furniture Market size is expected to reach USD 691.20 million in 2024 and grow at a CAGR of 3.14% to reach USD 806.75 million by 2029.
What is the current South Korea Office Furniture Market size?
In 2024, the South Korea Office Furniture Market size is expected to reach USD 691.20 million.
Who are the key players in South Korea Office Furniture Market?
Livart Furniture Co., Ltd., Fursys Inc., Sangdo Furniture Co., Ltd, Kaos Co., Ltd. and Patra Co., Ltd. are the major companies operating in the South Korea Office Furniture Market.
What years does this South Korea Office Furniture Market cover, and what was the market size in 2023?
In 2023, the South Korea Office Furniture Market size was estimated at USD 669.50 million. The report covers the South Korea Office Furniture Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the South Korea Office Furniture Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
South Korea Office Furniture Industry Report
Statistics for the 2023 South Korea Office Furniture market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South Korea Office Furniture analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
