In 2023, the turnover in the carpets and rugs market in South Korea was 44.5 billion KRW. Forecasted data for the sector shows a steady decline, with turnover expected to decrease year-on-year: -2.86% in 2024, -2.86% in 2025, -2.87% in 2026, -2.89% in 2027, and -2.95% in 2028. Over the five-year period, the compound annual growth rate (CAGR) stands at -2.89%, indicating a consistent downward trend over the forecasted term.
Future trends to watch for include potential market disruptions from advancements in flooring technology, shifts in consumer preferences towards hard flooring options, and the impact of economic policies on manufacturing and import-export dynamics.
