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Report Overview

The South Korea clothes market attained a value of USD 29.64 billion in 2023. The market is projected to grow at a CAGR of 3.42% between 2024 and 2032, reaching a value of around USD 39.90 billion by 2032.

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

South Korea Clothes Market Report Summary Description Value
Base Year USD Billion 2023
Historical Period USD Billion 2018-2023
Forecast Period USD Billion 2024-2032
Market Size 2023 USD Billion 29.64
Market Size 2032 USD Billion 39.90
CAGR 2018-2023 Percentage 1.40%
CAGR 2024-2032 Percentage 3.42%
CAGR 2024-2032 - Market by Distribution Channels Online 7.06%
CAGR 2024-2032 - Market by End Use Women 3.91%

Safety and Quality Standards in the Clothing and Textile Sector Augments the Clothing Demand

The Korean Certification Mark (KC mark)  is a required certification mark that denotes conformity with laws and regulations. Certain textile and garment products (including leather goods and footwear) imported into or marketed in South Korea are mandated to have the KC mark. For goods that are under its purview, KATS provides the KC mark. The Common Safety Standards for Children's Products, which apply to items, components, or accessories used by or for children under the age of 13, control infant and child textiles and leather products under the Special Act on Safety Management of Children's Products. Hazardous materials and criteria for physical safety are covered under the standard. Such safety and quality control standards help in building the trust of people, which compels the manufacturers to abide by the rules and produce quality products to meet the growing demand in the South Korea clothes industry.

south korea clothes market

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Collaboration With Celebrities for Endorsements Boosts Brand Awareness and Sales in South Korea

With the growing prevalence of 'Hallyu', brands now collaborate with K-Pop celebrities to reach out to local as well as overseas fans. Thus, due to the growing celebrity influence, especially among young generations, several clothing brands collaborate with K-Pop celebrities to promote their goods. In 2020, one of the leading athleisure brands, Andar , teamed up with the girl group Mamamoo to promote their new range of athleisure clothing. Such collaborations with celebrities help in gaining traction and boosting sales, thereby propelling the growth of the clothing industry in the country. In the short term, celebrity endorsements boost sales, while in the long run, they expand brand awareness. Additionally, this celebrity marketing strategy is particularly successful for launching a new product, growing a market, or repositioning a brand.

Market Segmentation

Based on type, the South Korea clothes market can be segmented into:

  • Inner clothing
  • Outer clothing

Based on fabric type, the clothes market of South Korea can be divided into:

  • Knit
  • Woven
  • Non-Woven

On the basis of application, the South Korea clothes market can be bifurcated into:

  • Formal Wear
  • Casual Wear
  • Sports Wear
  • Safety Wear
  • Others

Based on end use, the South Korea clothes market can be divided into:

  • Women
  • Men
  • Kids
CAGR 2024-2032 - Market by End Use
Women 3.91%
Men XX%
Kids XX%

On the basis of distribution channels, the clothes market of South Korea can be segmented into:

  • Retail Stores
  • Online Stores
CAGR 2024-2032 - Market by Distribution Channels
Retail Stores XX%
Online 7.06%

south korea clothes market by segments

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Continuous Research to Innovate Eco-Friendly Clothes to Bolster the South Korea Clothes Market

Because of their ongoing research and development (R&D), South Korean textile manufacturers are benefiting from the current global economic revival. Taekwang Industrial Co ., the first business in South Korea to commercialise spandex in 1979, is currently working on creating sustainable textiles. The business created recycled plastic waste-made spandex, and it intends to commercialise the recycled spandex to produce women's underwear and bags. The firm intends to increase the availability of its sustainable textile goods and is working to include the fabric for shoes and t-shirts in the market. In collaboration with other businesses domestically and overseas, the company has been developing technologies to recover fibres from low-quality plastic trash. Such eco-friendly innovations attract environmentally conscious people and aid the growth of the South Korea clothes market.

South Korea clothes market and textile industry was crucial to the first industrialization of the nation, but it has since been overtaken by other sectors, most notably the automobile and electronics industries. Although they continue to play a significant role in a variety of vertically integrated operations, the textile and clothing markets are still significant in South Korea. Moreover, with the rising disposable incomes and high standards of living, the South Korean population are willing to spend on premium and sustainable clothing available in the market, which proliferates the growth of the clothes industry in South Korea.

The Surge of E-commerce Platforms Leading to the Expansion of Clothes Market in South Korea

With a turnover of approximately US$92 billion  in 2021, South Korea was the sixth-largest market for eCommerce, ahead of France and behind Germany. The market has seen an increase in the purchase of clothing through online distribution channels. In the South Korea clothing market, technological advancements such as the development of user-friendly applications and websites and offering quick order placing, discounts, conducting online promotional events, and quick delivery of items are increasing the demand for clothes, particularly casual and formal wear.

The pandemic increased internet purchasing because individuals avoided going to physical businesses to avoid contracting the novel coronavirus infection. Poshmark, Inc., a prominent social e-commerce platform for new and used fashion, is slated to be acquired by Naver Corp., South Korea's largest internet firm, for an estimated $1.2 billion in enterprise value. According to a joint press statement issued by the two firms, the purchase broadens and diversifies Naver's premier e-commerce platform and prepares it to capitalise on global online fashion e-commerce and sustainable economic prospects.

south korea clothes market by region

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Key Players in the South Korea Clothes Market

The report gives a detailed analysis of the following key players in the South Korea clothes market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • 87MM Inc.
  • UNIQLO Co., Ltd.
  • Acme de la vie Co., Ltd.
  • Beyond Closet Co., Ltd.
  • Five Space Co.,Ltd.
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Fabric Type
  • Application
  • End Use
  • Distribution Channels
Breakup by Type
  • Inner Clothing
  • Outer Clothing
Breakup by Fabric Type
  • Knit
  • Woven
  • Non-Woven
Breakup by Application
  • Formal Wear
  • Casual Wear
  • Sports Wear
  • Safety Wear
  • Others
Breakup by End Use
  • Women
  • Men
  • Kids
Breakup by Distribution Channels
  • Retail Stores
  • Online Stores
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Trade Data Analysis
  • Major Exporting Countries
    • By Value
    • By Volume
  • Major Importing Countries
    • By Value
    • By Volume
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • 87MM Inc.
  • UNIQLO Co., Ltd.
  • Acme de la vie Co., Ltd.
  • Beyond Closet Co., Ltd.
  • Five Space Co.,Ltd.
  • Others

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

The market is projected to grow at a CAGR of 3.42% between 2024 and 2032.

Increasing demand for eco-friendly clothes, research and development of sustainable clothes, growing prevalence of e-commerce platforms, high disposable income and high standards of living are the major drivers of the South Korea clothes industry.

High quality and safety standards and celebrity collaborations are the key trends in the market.

The dominant type of clothes in the industry are inner clothing and outer clothing.

The leading distribution channels in the market are retail stores and online stores.

The major players in the South Korea clothes industry are 87MM Inc., UNIQLO Co., Ltd., Acme de la vie Co., Ltd., Beyond Closet Co., Ltd., and Five Space Co.,Ltd., among others.

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63 Fiona Drive, Tamworth, NSW

+61 448 06 17 27

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.

+63 287899028, +63 967 048 3306

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84865399124