According to the latest report by IMARC Group, titled “Folding Furniture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the global folding furniture market growth. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global folding furniture market size reached US$ 4.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.2 Billion by 2028, exhibiting a growth rate (CAGR) of 4.2% during 2023-2028.
Folding furniture is a type of furniture that can be folded into a shape that takes up relatively less space. It is manufactured using wood, steel, plastic, and aluminum and is widely installed in small buildings and rooms for sleeping, storage, and other purposes. It is highly durable, efficient, versatile, lightweight, ergonomic, convenient, convertible, affordable, and user-friendly. Some most commonly used folding furniture includes tables, kitchen interiors, furniture, beds, desks, cabinets, and chairs. Since it is portable, compact in size, and allows optimal space usage, folding furniture finds extensive applications across residential and commercial spaces, such as offices, hospitals, and hotels.
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Folding Furniture Market Trends and Drivers:
The global folding furniture market is primarily driven by the emerging trend of compact and integrated modular homes due to the increasing number of nuclear families. In addition, there has been a significant increase in the demand for personalized workspace at home owing to the implementation of remote working models amid the recent coronavirus disease (COVID–19) outbreak.
Apart from this, with changing lifestyles and rapid urbanization, the escalating demand for lightweight, minimalist, and multifunctional furniture to enhance the aesthetic appeal of the living space has accelerated the product adoption rate. Furthermore, the leading manufacturers are offering customizable folding furniture made using sustainable resources, such as plywood.
Along with this, the launch of augmented reality (AR)-based apps that allow users to test furniture in real-time by displaying a virtual three-dimensional (3D) model of products within a space is positively influencing the market growth. Other factors, including the expanding real estate sector, ongoing infrastructural development, and easy product availability via online retail channels, are also anticipated to propel the market growth.
Global Folding Furniture Market 2023-2028 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Folding Furniture Companies:
Ashley Furniture Industries Inc., Dorel Industries Inc., Flexfurn limited, Haworth Inc. (Haworth International Ltd.), Hussey Seating Company, Inter IKEA Systems B.V. (Inter IKEA Holding B.V), Kestell Furniture LLC, La-Z-Boy Incorporated, Lifetime Products Inc., Meco Corporation, Murphy Wall Beds Hardware Inc, Nilkamal Furniture and Sauder Woodworking Company.
The report has segmented the market on the basis of region, product type, distribution channel and application.
Breakup by Product Type:
- Tables and Chairs
- Sofas
- Beds
- Others
Breakup by Distribution Channel:
- Offline
- Online
Breakup by Application:
- Residential
- Commercial
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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