Home Office Furniture - Turkey

Turkey

In Turkey, the revenue in the Home Office Furniture market in 2024 is estimated to be €382.60m.
It is projected that the market will experience an annual growth rate of 0.11% (CAGR 2024-2029).
When compared globally, in the United States generates the highest revenue in this segment, with a total of €17,540m in 2024.
Considering the population, the per person revenue in Turkey is €4.43 in 2024.
Turkey is experiencing a surge in demand for ergonomic home office furniture as more people adapt to remote work.

Key regions: Germany, Brazil, United Kingdom, Denmark, China

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Home Office Furniture market in Turkey is experiencing significant growth and development, driven by changing customer preferences and local special circumstances.

Customer preferences: Customers in Turkey are increasingly prioritizing comfort and functionality when it comes to home office furniture. With the rise of remote work and the need for flexible workspaces, individuals are seeking ergonomic designs and adjustable features that can enhance their productivity and well-being. Additionally, there is a growing demand for compact and space-saving furniture solutions, as many people in Turkey live in apartments with limited space.

Trends in the market: One of the key trends in the Home Office Furniture market in Turkey is the increasing popularity of multifunctional furniture. As individuals look for ways to optimize their living spaces, they are turning to furniture pieces that can serve multiple purposes. For example, desks with built-in storage compartments or convertible tables that can be used as both a desk and a dining table. This trend reflects the need for versatile and adaptable furniture solutions in the home office setting. Another trend in the market is the growing preference for sustainable and eco-friendly furniture. Turkish consumers are becoming more conscious of the environmental impact of their purchasing decisions and are actively seeking out furniture made from sustainable materials and produced using eco-friendly manufacturing processes. This trend is driving the demand for home office furniture made from recycled materials or certified sustainable wood.

Local special circumstances: Turkey has a young and tech-savvy population, which has contributed to the growth of the Home Office Furniture market. With advancements in technology and the increasing availability of high-speed internet, more individuals in Turkey are able to work remotely and set up their own home offices. This has created a need for suitable furniture that can accommodate their work requirements. Furthermore, the COVID-19 pandemic has accelerated the adoption of remote work in Turkey. As companies implemented work-from-home policies to ensure employee safety, many individuals had to quickly set up functional home offices. This sudden shift in work dynamics has led to a surge in demand for home office furniture, as people strive to create comfortable and productive workspaces within their homes.

Underlying macroeconomic factors: Turkey's growing economy and rising income levels have also played a role in the development of the Home Office Furniture market. As individuals have more disposable income, they are able to invest in higher-quality furniture that can meet their specific needs and preferences. Additionally, the increasing urbanization in Turkey has led to a higher demand for home office furniture, as more people are living and working in urban areas where space is limited. In conclusion, the Home Office Furniture market in Turkey is experiencing growth and development due to changing customer preferences, such as the prioritization of comfort and functionality, as well as the increasing demand for multifunctional and sustainable furniture. Local special circumstances, such as the rise of remote work and the impact of the COVID-19 pandemic, have also contributed to the market's growth. The underlying macroeconomic factors, including Turkey's growing economy and rising income levels, further support the development of the market.

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is categorized by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen & Dining room, Outdoor, Home Office, and Baby & Children's Furniture. The Furniture market also includes Lamps and Lighting and Home Décor because the furnishings and accessories within these categories are not specific to any room.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as consumer spending and GDP. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing is well suited for forecasting the Furniture market with a projected steady growth. The main drivers are furniture and furnishings, carpets and other floor coverings, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.