PROSPECTS AND OPPORTUNITIES
Sluggish sales due to price sensitivity and a decline in homeownership
Sales of home improvement products are expected to be sluggish over the forecast period due to continued economic stagnation and a decline in homeownership rates. High mortgage and credit rates are slowing new home purchases and major renovations, which are the key demand drivers for home improvement categories.
Rising DIY trend, driven by a desire to personalise living spaces and save on professional labour costs
Over the forecast period, other home improvement is expected to be the most dynamic category. Turkish consumers have increasingly embraced DIY projects, driven by a desire to personalise living spaces and save on professional labour costs.
Floor covering growth to be muted by economic stagnation and changing habits
Over the forecast period, growth in Turkey’s floor covering market is expected to remain muted and below inflation levels, primarily due to a mix of economic stagnation, sluggish homeownership, and a decline in marriage rates. While manufacturers like Merinos Hali and Royal Hali are expected to launch affordable synthetic carpets to appeal to budget-conscious consumers, this strategy largely offsets price growth with volume rather than driving real expansion.
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Overview:
Understand the latest market trends and future growth opportunities for the Home Improvement industry in Turkey with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Home Improvement industry in Turkey, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Home Improvement in Turkey report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Home Improvement in Turkey?
- Which are the leading brands in Home Improvement in Turkey?
- How are products distributed in Home Improvement in Turkey?
- How is the rise of e-commerce changing the retail and competitive landscape?
- Have home seclusion and social distancing measures following COVID-19 benefited sales of Home Improvement?
- Has the economic fall-out of COVID-19 negatively or positively impacted consumer interest and demand for Home Improvement?
- Where is future growth expected to be most dynamic?
Home Improvement in Turkey - Category analysis
KEY DATA FINDINGS
Rising cost of tradespeople and growing DIY trend drive growth in 2024
Kaleseramik leads with its commitment to environmentally friendly products
In-store shopping remains dominant as discounters grow amidst economic challenges
Sluggish sales due to price sensitivity and a decline in homeownership
Rising DIY trend, driven by a desire to personalise living spaces and save on professional labour costs
Floor covering growth to be muted by economic stagnation and changing habits
Home and Garden in Turkey - Industry Overview
Home and garden in 2024: The big picture
2024 key trends
Competitive landscape
Retail developments
What next for home and garden?
DISCLAIMER
The following categories and subcategories are included:
Home Improvement
- Bathroom and Sanitaryware
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- Carpets
- Floor Tiles
- Wooden Flooring
- Other Floor Covering
- Hand Tools
- Hardware
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- Lacquer and Varnish
- Decorative Paint
- Kitchen Sinks
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- Corded Drills
- Cordless Drills
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- Other Corded Power Tools
- Other Cordless Power Tools
- Power Tool Accessories
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- Wall Tiles
- Wallpaper
- Other Home Improvement
Home Improvement
Includes: products purchased by consumers through retail channels.Excludes: commercial sales to professional builders / tradesmen / contractors etc. Home improvement refers to bathroom and sanitaryware, decorating sundries, floor covering, hand tools, hardware, home paint, kitchen sinks, power tools, wall covering and other home improvement.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Home Improvement research and analysis database.
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