Home Décor - Turkey | Statista Market Forecast

In Turkey, the revenue in the Home Décor market Segment reaches a substantial amount of US$3.64bn in 2024.
As we look ahead, the market is projected to experience an annual growth rate of 5.24% (CAGR 2024-2029).
When compared on a global scale, United States leads the way in generating the highest revenue, with a staggering US$35bn in 2024.
Taking into account the population figures, in 2024, each person in Turkey contributes US$42.17 in terms of revenue to the Home Décor market Segment.
Turkey's booming home décor market is embracing a fusion of traditional Ottoman designs with modern aesthetics.

Definition:

The Home Decor segment includes a variety of accessories and furnishings used to make a space more aesthetically appealing. Items in this segment can be found in virtually every room within the home and are typically used to showcase one’s unique style and creativity.

Structure:

The Home Decor segment is divided into four subsegments:

The Decorations subsegment refers to a variety of decorative items that are used to enhance the aesthetics of indoor spaces, such as wall art, decorative objects, vases, and sculptures
The Carpets & Rugs subsegment refers to products designed to cover and enhance the flooring of indoor spaces. These products range from large area rugs to small accent rugs, and are available in a variety of materials, colors, patterns, and textures, providing both functional and aesthetic value to the space.
The Candles subsegment covers decorative and aromatic wax-based products that are commonly used to provide mood lighting and fragrance to indoor spaces.
The Curtains & Blinds subsegment includes products designed to cover windows and regulate the amount of light that enters a room. This segment encompasses a wide range of styles and materials, from traditional drapes and blinds to modern shades and screens.

Additional Information:

The Home Decor segment consists of revenue and average revenue per capita data. Per capita figures consider the whole population. This segment includes only business to consumer (B2C) sales. Business to business (B2B) sales (e. g., furniture for coffee shops, offices, etc.) are excluded in the figures shown. For more information on the displayed data, click the info button on the right-hand side of each box. In terms of key players in the furniture market, IKEA is the leading furniture company; however, with the rise of eCommerce, players such as Wayfair are gaining ground.

Candles
Curtains
Carpets & Rugs
Decorative Accessories

Flameless & Floating Candles
Shower Curtains
Smart Blinds
Clocks
Plants
Mirrors

The Home Décor market in Turkey is experiencing significant growth and development in recent years. Customer preferences have shifted towards more modern and contemporary designs, with a focus on functionality and practicality. This trend is driven by the increasing urbanization and changing lifestyles of Turkish consumers. Additionally, the rise of e-commerce platforms has made it easier for customers to access a wide range of home décor products, further fueling the market growth.

Customer preferences: In Turkey, customers are increasingly opting for modern and contemporary home décor styles. This preference can be attributed to the influence of global design trends and the desire for a more minimalist and streamlined look. Turkish consumers are also seeking out home décor products that are both functional and aesthetically pleasing, as they look to create spaces that are not only beautiful but also practical for their everyday needs.

Trends in the market: One of the key trends in the Home Décor market in Turkey is the growing popularity of online shopping. E-commerce platforms have made it easier for consumers to browse and purchase a wide range of home décor products from the comfort of their homes. This trend has not only increased the accessibility of home décor products but has also opened up new opportunities for small and local businesses to reach a wider customer base. Another trend in the market is the increasing demand for sustainable and eco-friendly home décor products. Turkish consumers are becoming more conscious of the environmental impact of their purchasing decisions and are actively seeking out products that are made from sustainable materials and produced in an environmentally friendly manner. This trend is driven by a combination of factors, including growing awareness of climate change and the desire to support ethical and responsible brands.

Local special circumstances: Turkey's rich cultural heritage and history play a significant role in shaping the Home Décor market. Turkish consumers have a strong appreciation for traditional craftsmanship and artisanal products. This has led to a resurgence of interest in traditional Turkish home décor styles, such as Ottoman-inspired designs and handwoven textiles. Local artisans and craftsmen are capitalizing on this trend by creating unique and high-quality home décor products that showcase Turkey's cultural heritage.

Underlying macroeconomic factors: The growth of the Home Décor market in Turkey can also be attributed to favorable macroeconomic factors. Turkey has experienced steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. As a result, consumers are more willing to invest in home décor products to enhance the aesthetics and comfort of their living spaces. Additionally, the construction and real estate sectors have been booming in Turkey, driving demand for home décor products among homeowners and property developers. In conclusion, the Home Décor market in Turkey is witnessing significant growth and development driven by shifting customer preferences, the rise of e-commerce platforms, and favorable macroeconomic factors. Turkish consumers are increasingly opting for modern and contemporary home décor styles while also showing a growing interest in sustainable and eco-friendly products. The country's rich cultural heritage and history also play a significant role in shaping the market, with a resurgence of interest in traditional Turkish home décor styles. Overall, the market is poised for continued growth in the coming years as consumer spending and demand for home décor products continue to rise.

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.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

From homeware to office furniture, even expanding over to pet care, the furniture industry is all-encompassing and ever-growing. Be it homes, schools, offices, or even outdoors, furniture is what gives a room its function and purpose.