Market Size of Turkey Kitchen Furniture Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 7.10 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Turkey Kitchen Furniture Market Analysis
The Turkey Kitchen Furniture market has generated gross revenue of USD 418 million in the current year and is poised to register a CAGR of more than 7.1% for 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.
