Market Trends of Turkey Cookware Industry
This section covers the major market trends shaping the Turkey Cookware Market according to our research experts:
Growing Urbanization is Driving the Market
Improving the quality of city life is and will continue to be one of the most important global development challenges. Turkey has experienced very rapid urbanization over the last six decades. The urban share of Turkey's population has risen from 25 percent in 1950 to nearly 77 percent today. Over this period, the pressures of urbanization have grown, particularly in secondary cities with massive infrastructure and investment needs. Over the next 10 years, Turkey will build or refurbish some 13 million housing units, the motorization rate is expected to increase nearly 40 percent.
Demand for kitchen cookware is seen more in the urban market, especially in high-tier cities. Growing urbanization and product up-gradation are also some of the key factors for the growth of the kitchen cookware market. An increase in surplus money and the growing number of working populations in urban societies are anticipated to drive the demand for kitchen appliances and luxury cookware.
Rapid Growth in E-Commerce
The Turkish e-commerce market is modest compared with many other European nations, but its rapid growth in sales volumes sets it apart as a country to consider. Sited between Europe and Asia, Turkey has distinct features that make it markedly different to many other European e-commerce markets.
Turkey is the 18th largest market for e-commerce with a revenue of USD 16 billion in 2021. In the third quarter of 2021, Turkey recorded approximately 336.5 million e-commerce transactions, the highest number per quarter ever recorded in the country. That is 50 percent higher than the 222 million online transactions completed in the same period the previous year.Boasting excellent sales growth over the past three years, Turkey is a dynamic market for e-commerce. However, the availability of physical, digital and banking infrastructure to handle rising levels of e-commerce is an ongoing issue in Turkey.
