Archives

2024

2025

South Korea Luxury Goods Market 2025 | Growth, Trends, Forecast by 2033

South Korea Luxury Goods Market Overview

Base Year: 2024

Historical Years: 2019-2024

Forecast Years: 2025-2033

Market Growth Rate: 4.7% (2025-2033)

An emerging hub for high-end fashion, South Korea showcases a vibrant blend of traditional elegance and modern luxury, driven by discerning consumers and innovative trends. According to IMARC Group, South Korea luxury goods market size reached USD 5.5 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 8.3 Billion by 2033, exhibiting a growth rate (CAGR) of 4.7% during 2025-2033.

Download sample copy of the Report: https://www.imarcgroup.com/south-korea-luxury-goods-market/requestsample

South Korea Luxury Goods Industry Trends and Drivers:

Growing consumer wealth as well as a strong cultural inclination towards premium products are the factors responsible for the growth of the South Korea luxury goods market. Additionally, one of the primary drivers is the rising disposable income among young and affluent consumers who prioritize luxury goods as symbols of status and personal achievement. Besides this, the influence of K-pop, Korean dramas, and social media has amplified the visibility & desirability of luxury brands, encouraging aspirational purchases. The market also benefits from an advanced retail landscape, with high-end department stores, flagship boutiques, and duty-free shops catering to domestic and international consumers. Moreover, the growing adoption of e-commerce platforms has made luxury goods more accessible, further driving sales.

Sustainability, along with consumers increasingly seeking eco-friendly and ethically produced luxury items, is augmenting the South Korea luxury goods market. This shift has led brands to adopt more transparent and sustainable practices. Digital innovation is another significant trend, as luxury brands leverage technology such as augmented reality (AR) and virtual reality (VR) to enhance the shopping experience. Furthermore, personalized, and customized products are also in high demand, allowing consumers to create unique luxury items tailored to their preferences. Apart from this, the rise of the luxury resale market is gaining traction, appealing to value-conscious and environmentally aware consumers. A strong influence on global fashion and luxury through cultural exports is expected to drive the continued growth of the South Korea luxury goods market in the coming years.

South Korea Luxury Goods Industry Segmentation: 

The market report offers a comprehensive analysis of the segments, highlighting those with the largest South Korea luxury goods market share. It includes forecasts for the period 2025-2033 and historical data from 2019-2024 for the following segments.

The report has segmented the market into the following categories:

Type Insights:

• Clothing and Apparel
• Footwear
• Bags
• Watches
• Jewelry
• Others

Distribution Channel Insights:

• Single-Brand Stores
• Multi-Brand Stores
• Online Stores
• Others

Regional Insights:

• Seoul Capital Area
• Yeongnam (Southeastern Region)
• Honam (Southwestern Region)
• Hoseo (Central Region)
• Others

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Key highlights of the Report:

• Market Performance (2019-2024)
• Market Outlook (2025-2033)
• COVID-19 Impact on the Market
• Porter’s Five Forces Analysis
• Strategic Recommendations
• Historical, Current, and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include a thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape, and benchmarking analyses, pricing and cost research, and procurement research.

Contact Us:  

IMARC Group 

134 N 4th St. Brooklyn, NY 11249, USA 

Email: sales@imarcgroup.com 

Tel No:(D) +91 120 433 0800 

United States: +1-631-791-1145

by marketreport on 2025-02-19 03:35:53