Report Overview

Turkey's Furniture market has dramatically expanded during the last decade amid rapid urbanization due to factors like an increase in disposable income and changing lifestyles. The rapid market expansion is predominantly due to the entry of several real estate developers, and the demand for residential property has been a huge boon for the housing industry. This has fueled growth in the market for household furniture. A solid foundation for the expansion and development of the furniture industry has been established by the strong economy, public funding, young population base, and other industry-specific factors.

Turkey Furniture Market - Industry Trends & Forecast Report 2028

Turkey's Furniture market was worth USD 1.31 billion in 2021 and is projected to reach USD 4.27 billion by 2028, exhibiting a CAGR of 18.5% in the forecast period. Turkey's Furniture market has dramatically expanded during the last decade amid rapid urbanization due to factors like an increase in disposable income and changing lifestyles. The rapid market expansion is predominantly due to the entry of several real estate developers, and the demand for residential property has been a huge boon for the housing industry. This has fueled growth in the market for household furniture. A solid foundation for the expansion and development of the furniture industry has been established by the strong economy, public funding, young population base, and other industry-specific factors.

Turkey Furniture - Overview

Turkish artisanal furniture making dates back to the 19th century and was done in small workshops. However, due to rapid globalization and other factors, the furniture industry is currently transitioning into the fashion industry. In Turkey, furniture is made in small-scale manufacturing and large-scale factories. The furniture production is highly dispersed among numerous small workshops, and these little workshops are crucial to creating hand-carved and handmade furniture. Workshops are flexible setups with the capacity and workforce to expand their production line and accomplish bulk orders. Large furniture companies use automated mass-production techniques to create standard models, and the majority of their output is intended for export.

Turkey Furniture Market Forecast and Trends

Growth Drivers

Consistent Development of Innovative & Luxurious Furniture Products to Drive Market Development

The market for furniture products is likely to be fueled by the firm’s regular presentation of their lavish home amenities and their potential to draw customers. Luxury furniture is primarily used for high-end interior design and adds aesthetic beauty to home decor. The demand for luxury furniture for use in homes and businesses is being driven primarily by the growing trend of having a luxurious and comfortable relaxing experience. In order to efficiently offer customers products based on their demands for home design, businesses are now concentrating on offering a personalized product buying experience to outlet visitors. This will probably improve the affiliated companies' brand perception, which will assist the expansion of the home furnishings sector.

Expanding Consumer Interest in Branded Home Furnishings Coupled with Government Initiatives

The furniture market is driven by the rising demand for branded home furnishings and the expanding consumer spending power on home decor goods. The government's growing infrastructure development initiatives are a further factor driving demand for furniture in residential and commercial buildings. Government-sponsored construction initiatives across the nation, particularly in urban areas, are also anticipated to play a significant role in the expansion of the furniture market.

Restraints

Demand for Second-hand Furniture is Increasing, Which is Limiting Market Growth.

The middle-income segment of the population now favors affordable, used home furnishings over expensive products. The market's expansion is anticipated to be constrained by this. Additionally, fierce competition from unorganized industry participants around the nation is limiting the company expansion of well-known corporations. The industry's growth is anticipated to be hampered by fluctuating raw material prices and shifting import & customs levies on fixture products.

Impact of COVID-19 on Turkey Furniture Market

Upholstery shops all over the country were forced to close due to the COVID-19 lockdown restrictions. As a result of this restriction, upholstery shops saw their sales decline. People also restricted their purchases of furniture from these stores to reduce the risk of coronavirus infections. These factors hampered the industry's growth as a whole during the pandemic. However, during the pandemic phase, homes increasing preference for work tables and chairs is mainly driven by shifting corporate professionals' preferences toward the remote working style. The shift in customer behavior towards purchasing home furnishings from online retailers has also increased demand for such things throughout the pandemic.

Turkey Furniture Market - By Material

Based on Material, Turkey's furniture market is segmented into wood, polymer, metal, glass, and leather. The wood segment catered the largest market share in 2021 and is anticipated to grow at the highest CAGR during the forecast period. Turkey's overall land area is nearly 80 Billion acres, and 27.2 percent (21,2 Billion ha) of the country's land area is covered in forests. With 9,000 herbaceous and woody plant species, Turkey possesses one of the most diverse floral kingdoms in the world. Calabrian pine, Crimean pine, Scots pine, oak, cedar, and fir are the main tree species utilized to produce roundwood. As wood is a naturally abundant raw material that can be used in the production of almost all types of furniture products, this growth is anticipated to accelerate. Processing raw timber is the main method used to create wooden furniture. Particleboard, fiberboard, and plywood are the three main types of wooden panels.

Turkey's extensive milling and wood manufacturing sector is in a position to export wood goods to regional Middle Eastern markets, especially those nations without their own wood manufacturing industries. Due to its relatively cheaper labor costs, Turkey is also in a competitive position to supply semi-processed wood goods and furniture to the EU. Over the past ten years, Turkish sectors reliant on forest products, such as the panel and furniture industries, have improved their capacity, enabling them to take advantage of these regional prospects.

Turkey Furniture Market - By End Use

Based on end-use, the market segment is bifurcated into two types: domestic use and commercial use. Due to the significant demand for chairs and sofa sets among residential consumers for their house and backyard seating preferences, the domestic segment accounts for a significant portion of the market. Due to the wide availability of computer desks in various sizes and designs worldwide, the commercial segment enjoys a sizeable market share and generates substantial revenues. Furthermore, as remote work becomes more and more common among corporate employees, the need for ergonomic office chairs is projected to decline, spurring further segmental expansion. To give their guests a pleasant living experience, many premier hotels and restaurants worldwide opt to incorporate high-quality and opulent home decor items in their hotel facilities. This will increase the demand for high-end furnishings in these settings. Additionally, the global expansion of hotel and restaurant chains is driving up product revenues in this market category.

Competitive Landscape

Key players operating in the Turkey furniture market are Istikbal Mobilya, Dogtas Mobilya, Idas, ENZA Home, Tepe Home Mobilya, Alfemo, Bellona, Mudo Concept, and other prominent players.

The Turkey furniture market is moderately fragmented with the presence of several manufacturing companies in the country. The market leaders retain their supremacy by spending on research and development, incorporating cutting-edge technology into their goods, and releasing upgraded items for customers. Various tactics are used, including strategic alliances, agreements, mergers, and partnerships.

Recent Development

• In March 2021, A new deal between The Used Kitchen Company and The Symphony Group was signed to improve sustainability in the kitchen sector. Symphony's cabinet chipboard contains recycled content in a 49% ratio, and all of its wood-based components have FSC certification (FSC).

• In December 2021, In order to better serve Turkish exporters in industrialized nations like the US, Germany, France, and Britain, seven well-known furniture brands in Turkey banded together under the common brand f-tr Furniture Partners.

Scope of the Report

Attributes	Details
Years Considered	Historical data – 2018-2021
	Base Year – 2021
	Estimated Year - 2022
	Forecast – 2022 – 2028
Facts Covered	Revenue in USD Billion
Market Coverage	Turkey
Product Service/Segmentation	By Material, By End Use
Key Players	Istikbal Mobilya, Dogtas Mobilya, Idas, ENZA Home, Tepe Home Mobilya, Alfemo, Bellona, Mudo Concept and other prominent players.

 

By Material

• Wood
• Polymer
• Metal
• Glass
• Leather

By End Use

• Domestic Use
• Commercial Use

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. Turkey Furniture Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Consistent Development of Innovative & Luxurious Furniture Products
         2. Expanding Consumer Interest in Branded Home Furnishings Coupled with Government Initiatives
         3. Others
      2. Restraints
         1. Demand for Second-hand Furniture is Increasing
         2. Others
      3. Opportunities
         1. Rising demand for luxury and premium furniture
         2. Rising demand for different sculptures shapes furniture’s
      4. Challenges
         1. Shutting down of upholstery shops
   3. Porter’s Five Forces Analysis
      1. Bargaining End-use Industry of Suppliers
      2. Bargaining End-use Industry of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
   4. Recent Developments
4. Turkey Furniture Market Overview
   1. Market Size & Forecast by Value, 2018–2028
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Material
         1. Wood
         2. Polymer
         3. Metal
         4. Glass
         5. Leather
      2. By End-User
         1. Domestic Use
         2. Commercial Use
5. Competitive Landscape
   1. List of Key Players and their Offerings
   2. Company Market Share Analysis, 2021
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
6. Impact of Covid-19 Across Furniture Market
7. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
   1. Istikbal Mobilya
   2. Dogtas Mobilya
   3. Idas
   4. ENZA Home
   5. Tepe Home Mobilya
   6. Alfemo
   7. Bellona
   8. Mudo Concept
   9. Other Prominent Players
8. Key Strategic Recommendations
9. Research Methodology
   1. Qualitative Research
      1. Primary and Secondary Products
   2. Quantitative Research
      1. Primary and Secondary Products
   3. Breakdown of Primary Research Respondents
      1. Secondary Research
      2. Primary Research
   4. Breakdown of Primary Research Respondents, By Industry Participants
   5. Market Breakdown & Data Triangulation

 

Note: Financial in information in case of non-listed companies will be provided as per availability

The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

 

List of Figures

 

 Figure 1        Turkey Furniture Market Segmentation

Figure 2        Turkey Furniture Market Value Chain Analysis

Figure 3        Company Market Share Analysis, 2021

Figure 4        Turkey Furniture Market Size, By Value (USD Billion), 2018–2028

Figure 5        Turkey Furniture Market Share, By Material, By Value, 2018–2028

Figure 6        Turkey Furniture Market Share, By End-User, By Value, 2018–2028

 

List of Tables

 

Table 1         Turkey Furniture Market Size, By Material, By Value, 2018–2028                            

Table 2         Turkey Furniture Market Size, By End-User, By Value, 2018–2028                 

Table 3         Istikbal Mobilya Company Overview                                      

Table 4         Istikbal Mobilya Financial Overview                                      

Table 5         Dogtas Mobilya Company Overview                                      

Table 6         Dogtas Mobilya Financial Overview                                       

Table 7         Idas Company Overview                                  

Table 8         Idas Financial Overview                                   

Table 9         ENZA Home Company Overview                                          

Table 10        ENZA Home Financial Overview                                           

Table 11        Tepe Home Mobilya Company Overview                                          

Table 12        Tepe Home Mobilya Company Financial Overview                                       

Table 13        Alfemo Company Overview                                        

Table 14        Alfemo Financial Overview                                         

Table 15        Bellona Company Overview 

Table 16        Bellona Financial Overview

Table 17        Mudo Concept Company Overview 

Table 18        Mudo Concept Financial Overview