Folding Furniture Market Report
Global Folding Furniture Market, Trends, and Market analysis See less
Global Folding Furniture Market, Trends, and Market analysis
This report is segmented By Product (Table & Chair, Sofa, Bed, Others), By Application (Residential, Non-Residential), By Distribution Channel (Online, Offline), and Region. This report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global Folding furniture market. The historic years considered for the study are 2016-2019, the base year is 2020, the estimated year is 2021, and the forecast period is 2022-2026.
This report is segmented By Product (Table & Chair, Sofa, Bed, Others), By Application (Residential, Non-Residential), By Distribution Channel (Online, Offline), and Region. This report provides in-depth...
The Global Folding Furniture Market is estimated to grow from USD 3.2 billion in 2020 to USD 4.4 billion by 2026 at a healthy CAGR of 5.5% during the forecast period.
Figure: Global Folding Furniture Market Size, 2020-2026 (USD Billion)
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Folding furniture can be folded into a shape that results in less use of space. It is being primarily preferred in houses with less space. It can be folded when not in use and becomes functional when required just like any other type of furniture. Folding furniture that is made of wood or similar material is being widely preferred due to its durability. These products include tables, chairs, beds, and sofa among others. Folding chairs dominate the product segment owing to their flexibility.
Key players operating in the global folding furniture market are
Growing demand for multi-purpose and space-saving furniture is driving the growth of the global folding furniture market.
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Based on end-user, the market has been divided into residential and non-residential.
Asia-Pacific held the largest market share in 2020.
This can be attributed to growing demand for space saving furnishing products.
The market growth was affected when the governments across geographies imposed lockdown as it resulted in trade restrictions and supply chain disruptions. Many market players had to shut their production spaces. However, with the lift of lockdown, the demand for furniture products such as tables and chairs increased significantly particularly by the students and office employees.
Here is the list of the group of customers that the folding furniture market hopes to have the greatest opportunity to convert-
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The folding furniture market is expected to grow at an impressive growth of 5.5% CAGR in the foreseeable future.
Resource Furniture (The U.S.), Expand Furniture (Canada), Inter IKEA Systems B.V. (Netherlands), MECO CORPORATION (The U.S.), La-Z-Boy Inc. (The U.S.), Murphy Wall Beds Hardware Inc. (The U.S.), Nilkamal Limited (India), Flexfurn Ltd (UK), Dorel Industries Inc. (Canada), Leggett & Platt (The U.S.) and ASHLEY FURNITURE INDUSTRIES INC. (The U.S.) are among the key players in the folding furniture market.
The folding furniture market is expected to reach an estimated value of USD 4.4 billion in the coming years.
Asia-pacific held the largest share of folding furniture market in 2020.
Residential segment is expected to grow at a significant CAGR in the folding furniture market over the next five years.
Folding furniture distributors, Folding furniture suppliers, Logistics organizations, Government Bodies are the target audience in the folding furniture market.