Global Folding Furniture Market was valued at US$ 9.20 Bn in 2019 and is expected to reach US$ 15.10 Bn by 2026, at a CAGR of 6.39 % during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Foldable furniture contains the furniture that can be crumpled into a shape or position and utilizes less space. Folding furniture is an actual alternative to traditional furniture. The multi-functionality and space equivalent of this type of furniture, also improve the decor of available space.
The objective of the report is to present a comprehensive assessment of the global folding furniture market and contains considerate insights, facts, historical data, industry-validated market data and projections with appropriate set of traditions and methodology. The report also helps in understanding dynamics, structure by analysing the market segments by material, type, end-user and region and, project the global market size. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global folding furniture market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
Increasing preferences of the public to stay in small houses owing to high maintenance cost and other associated costs has motivated the demand for folding furniture across the globe. It also helps to enhance the decoration of the home. The main factor responsible for the growth of the market is the augmented number of smaller homes in the populous cities across the globe is expected to drive the global folding furniture market. Increasing the requirement for saving space is also propelling the growth in the global folding furniture market.
Increasing demand for decorative interior and low maintenance structure products are also projected to make growth opportunities for the global folding furniture market. Furthermore, the changeable prices of raw material are limiting the growth in the global folding furniture market.
The foldable furniture contains beds, tables and most prominently, the chair. Folding chairs single take up space once they are desired and can be kept in a closet when they are not in practice. A mishmash of the portable, lightweight and simply storable qualities has fashioned an appeal among the universal population.
Currently, folding chairs are essential for a picnic, outdoor event, or family gathering. The folding furniture can be an excessive saver for a flat or cramped house. Furthermore, Foldable beds segment is projected to grow at the high rate of CAGR during the forecast period .A bed is only used in the short time of the night but, it grosses up a large amount of space in the day. The bed that can be folded up in the wall that goes and exposes a shelf, can save much space. Many societies living in the apartments and save space with the usage of foldable furniture.
The online segment is estimated to witness high growth in global folding furniture market. Online platform become popular owing to that it provide the delivery to the doorstep by order of products. With an online platform, the consumer can compare the price of a folding furniture on different websites. Online platforms provides the home delivery and free shipping and Exchange & return offer turns to upsurge the demand for product.
Geographically, Asia Pacific is expected to lead the global folding furniture market. The increasing growth of real estate along with rapid urban population is expected to drive the folding furniture market during the forecast period. A growing number of residential and commercial buildings specifically in emerging regions is projected to enlarge the growth of Asia Pacific folding furniture during the forecast period. Additionally, the folding furniture manufacturers are frustrating to provide to the metropolitan ways of life of customers and are adding interesting features to the furniture. Some of the key players are focusing to meet the increasing needs of the consumers are expanding their product portfolio in this region.
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Scope of the Report Global Folding Furniture Market
Global Folding Furniture Market, By Product Type
• Other furniture
Global Folding Furniture Market, By Application
Global Folding Furniture Market, By Distribution Channel
Global Folding Furniture Market, By Geography
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players in Global Folding Furniture Market
• Dorel Industries Inc.
• Inter Ikea Systems B.V.
• Meco Corporation
• Lifetime Products Inc.
• Resource Furniture
• Expand Furniture
• Murphy Wall Beds Hardware Inc.
• Ashley Furniture Industries
• Flex steel Industries, Inc
• Bush Industries, Inc.
• Sauder Woodworking Company
• La-Z-Boy Inc.
• Leggett & Platt Inc.
• Haworth Inc.
• Flexfurn Ltd
• Gopak Ltd
• Nilkamal Limited
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