Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, The Global Folding Furniture Market Size is Estimated to Grow from USD 4.30 Billion in 2023 to USD 10.96 Billion by 2033, Growing at a CAGR of 9.81% during the forecast period 2023-2033.
Browse key industry insights spread across 215 pages with 110 Market data tables and figures & charts from the report on the Global Folding Furniture Market Size, Share, and COVID-19 Impact Analysis, By Product (Tables & Chairs, Beds, Sofas, and Others), By Application (Commercial and Residential), By Distribution Channel (Online and Offline), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.
The industry that manufactures, markets, and distributes folding furniture for use in homes, businesses, and hospitality settings is known as the global folding furniture market. When not in use, folding furniture may be folded up or down, making it a flexible and space-saving choice. The main factors driving the need for folding furniture are increased urbanization and smaller living areas, the need for multipurpose furniture that saves space, and the growing popularity of minimalist living. New furniture designs that are long-lasting, aesthetically pleasing, and functional are constantly being developed by furnishing companies. Another important factor driving the expansion of the folding furniture market is the use of sustainable manufacturing practices and ethically produced materials in the production of such furniture. However, the difficulty for folding furniture manufacturers is to compete with these inexpensive substitutes.
The tables and chairs segment held the largest share of 51.45% in 2023 and is estimated to grow at a CAGR of 8.78% throughout the projection period.
Based on the product, the global folding furniture market is categorized into tables & chairs, beds, sofas, and others. Among these, the tables and chairs segment held the largest share of 51.45% in 2023 and is estimated to grow at a CAGR of 8.78% throughout the projection period. Folding tables and chairs provide tiny households with unmatched versatility and space-saving potential. They are also the go-to choices for clients with tiny outdoor spaces, such as balconies, terraces, gardens, and porches. Businesses continue to create cutting-edge designs built from sustainable materials because they understand the importance of folding tables and chairs.
The residential segment dominated the global folding furniture market share in 2023 and is estimated to grow at a CAGR of 9.29% throughout the projection period.
Based on the application, the global folding furniture market is classified into commercial and residential. Among these, the residential segment dominated the global folding furniture market share in 2023 and is estimated to grow at a CAGR of 9.29% throughout the projection period. The main cause of this growth is the growing demand from consumers for small and adaptable furniture options in urban homes where making the most of available space is essential. Affordability, usability, and increased mobility are the main factors driving the popularity of folding furniture in residential contexts, such as apartments, tiny houses, and rental apartments.
The offline segment accounted for the largest share of 67.18% in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the distribution channel, the global folding furniture market is divided into online and offline. Among these, the offline segment accounted for the largest share of 67.18% in 2023 and is anticipated to grow at a significant CAGR during the forecast period. One major aspect propelling these retailers is the availability of customizable furniture solutions catered to customer tastes and particular space constraints. The availability of furniture in big-box retailers, which allows customers to purchase home furnishings in addition to other necessities for the home, has also increased demand for offline businesses that sell folding furniture.
Asia Pacific is expected to hold the largest share of the global folding furniture market through the forecast period.
Asia Pacific is expected to hold the largest share of the global folding furniture market through the forecast period. The growing residential and non-residential development activities that will stimulate expansion in the folding furniture industry are predicted to place Asia-Pacific at the highest end of the market. The region's average apartment sizes are among the lowest in the world, and countries are struggling with land shortages. Additionally, it is anticipated that the local market's growth rate will be accelerated by the increase in urbanization and industrialization.
North America is predicted to grow at the fastest CAGR of the global folding furniture market over the forecast period. The market is anticipated to grow quickly in North America because of the region's robust commercial and residential infrastructure development as well as the growing demand for low-maintenance interior materials. The need for furniture, especially folding furniture, is increasing due to the real estate market's continuous increase.
Company Profiling
Major key players in the global folding furniture market include Haworth, Inc., Dorel Industries, Inc., Meco Corporation, Murphy Wall Beds Hardware, Inc., Ashley Furniture Industries, La-Z-Boy, Inc., Flexsteel Industries, Inc., Leggett & Platt, Inc., Inter IKEA Systems B.V., Resource Furniture, Sauder Woodworking Company, and others.
Recent Developments
Key Target Audience
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global folding furniture market based on the below-mentioned segments:
Global Folding Furniture Market, By Product
Global Folding Furniture Market, By Application
Global Folding Furniture Market, By Distribution Channel
Global Folding Furniture Market, By Regional Analysis
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