Turkey has emerged as one of the fastest growing and highly untapped industry during the past few years. Housing industry has received tremendous support from the entry of a number of real estate developers and increasing demand for residential property. This has infused growth in the household furniture market growth. Booming economy, the government support, and young population base coupled with other industry specific factors have created a strong platform for the furniture industry to grow and prosper.
According to our latest research report “Turkey Furniture Market Analysis”, furniture demand in Turkey has dramatically expanded during the last decade amid rapid urbanization, increase in disposable income, and changing life style. In the wake of financial turmoil and credit crunch, the industry stood strong and posted year on year positive growth in 2009. Moreover, the furniture demand is anticipated to grow at a CAGR of around 16% during 2011-2013, making Turkey one of the most attractive furniture markets in the European Union.
At the segment front, household furniture is the most attractive market segment for local manufacturers. The profit margins in household furniture segment are usually higher than office furniture as bulk purchases rarely take place. Customization and vast variety in the segment also increases product costs and profit levels. It is anticipated that household segment will continue to dominate the industry’s demand-supply mix on the back of various factors discussed and analyzed in the report.
Our report “Turkey Furniture Market Analysis” is an outcome of widespread research and conceptual analysis of the Turkish furniture industry potentials. It provides information and statistics on furniture industry structure, production developments, demand trends, and import-export scenarios. The report provides segment wise furniture production and demand forecasts to facilitate cutting edge market intelligence. The report also covers consumer behavior analysis, and presents information on regional market developments. Brief overview of key industry participants have been also added to provide a balanced research outlook of the concerned industry.
