The Turkey Kitchen Furniture Market is expected to register a CAGR of 7.1% during the forecast period.
The COVID-19 pandemic had a huge impact on the kitchen furniture industry. After the pandemic, commercial work started up, and with that, the kitchen furniture market started to grow. People are going out, traveling, and working more, so commercial kitchens in places like hotels and restaurants are helping the market grow. Unfortunately, Turkey, which usually relies on imports for their furniture, has been hit by supply chain issues and a temporary ban on global trade.
Turkey is an attractive country because of its transportation facilities, tourism, entertainment opportunities, and convention tourism. Istanbul, as a renowned city, draws the attention of investors from all around the world. The number of house sales to foreigners has accelerated in Turkey due to legislative amendments that eased citizenship with investment limits for foreigners. The rise in tourism and increase in the number of house sales to foreigners has created a demand for luxury homes, creating a need for kitchen furniture in the country. The surging urbanization, rise in the number of households, and remodeling in residential kitchens are the key market drivers. Chinese investment in Turkey has increased dramatically, and it is expected to increase in the coming years.
They generally invest in luxury properties and beautifully designed five-star managed apartments with services and excellent facilities. With an increase in investments, people increased their spending on home renovation, such as living rooms and kitchens, and they are investing in higher-quality products, which is further increasing the demand for luxury furniture and modern kitchen.
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The COVID-19 pandemic had a huge impact on the kitchen furniture industry. After the pandemic, commercial work started up, and with that, the kitchen furniture market started to grow. People are going out, traveling, and working more, so commercial kitchens in places like hotels and restaurants are helping the market grow. Unfortunately, Turkey, which usually relies on imports for their furniture, has been hit by supply chain issues and a temporary ban on global trade.
Turkey is an attractive country because of its transportation facilities, tourism, entertainment opportunities, and convention tourism. Istanbul, as a renowned city, draws the attention of investors from all around the world. The number of house sales to foreigners has accelerated in Turkey due to legislative amendments that eased citizenship with investment limits for foreigners. The rise in tourism and increase in the number of house sales to foreigners has created a demand for luxury homes, creating a need for kitchen furniture in the country. The surging urbanization, rise in the number of households, and remodeling in residential kitchens are the key market drivers. Chinese investment in Turkey has increased dramatically, and it is expected to increase in the coming years.
They generally invest in luxury properties and beautifully designed five-star managed apartments with services and excellent facilities. With an increase in investments, people increased their spending on home renovation, such as living rooms and kitchens, and they are investing in higher-quality products, which is further increasing the demand for luxury furniture and modern kitchen.
Turkey Kitchen Furniture Market Trends
The Kitchen Furniture Market is Being Driven by Rising Housing Construction
The demand for the kitchen furniture market has been increasing due to the rise in the construction sector in Turkey and is expected to grow during the forecast period driven by population growth, which in turn drives residential construction. With the increase in population every year, the need for robust infrastructure and housing have become major essentials to the nation, owing to which the construction sector is expected to grow during the forecast period. The lowest number of house sales occurred in April and May 2020, totaling around 42 thousand house transactions. The residential and foreign buyers investing in innovative and modern residential apartments in Turkey have driven demand for kitchen furniture.Contracts Account for the Majority of Kitchen Furniture Sales
Sales through contracts include projects, building trade, and direct sales. Retail sales in Turkey happen through local craftsman shops, kitchen specialists, furniture chains, DIY stores, and e-commerce. Contracts & projects account for a major portion of Turkey's kitchen Furniture sales. Sales through retailers are very low when compared to contracts. In Turkey, the majority of kitchen furniture sales are distributed through contracts, and the remaining are distributed through retailers. In Turkey, people prefer contractors over stores because of increased disposable income and foreign investments, which makes their work easier than spending time searching for products at retailers. Contractors' furniture work will be more satisfactory than people who assemble their own kitchen by purchasing kitchen furniture products.Turkey Kitchen Furniture Industry Overview
Few big firms currently dominate the Turkey Kitchen Furniture market in terms of market share. Mid-size and smaller businesses, on the other hand, are expanding their market presence by gaining new contracts and entering new markets, owning to technical improvements and product developments. Some of the key players in the Turkey Kitchen Furniture market are Ahsapsan, Bauhaus, Domsan, Istikbal, Kelebek, Lineadecor, Silverline, Vanucci, Veneta Cucine, Ikea, and Other prominent players.Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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Table of Contents
1 INTRODUCTION
4 MARKET INSIGHTS AND DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Ahsapsan
- Bauhaus
- Domsan
- Istikbal
- Kelebek
- Lineadecor
- Silverline
- Vanucci
- Veneta Cucine
- Ikea*
Methodology
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