The market was valued at US$ 3,070.80 million in 2019 and is projected to reach US$ 4,754.29 million by 2027; it is expected to grow at a CAGR of 5.7% from 2020 to 2027.
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The demand for folding furniture is rising with rapid urbanization coupled with significant growth in residential sector and rapid advancement related to folding furniture. Folding furniture such as chairs, tables, sofas, beds, table trays, and others are quite popular among both residential and commercial customers.
Folding furniture promotes portability and space saving and, thus, is essential for modern living. Besides being space-saving option, folding furniture are quite flexible and possess the capability to be folded, compact in flat or a small size. In general, folding furniture are counted under lightweight and easily deployable structures that possess an ability to get transformed between various configurations in easy and effective manner. Hence, the demand for such form of furniture is quite high amongst consumers. With the rapid advancement backed by strong research activities and rising consumer demand for aesthetic and comfortability, manufacturers are coming up with innovative concepts such as paper folding furniture, furniture involving pop up architectures, and others. Such type of furniture has been designed to suit consumer aesthetic framework and comfortability.
With rising disposable income, shift in lifestyle, and rising trend towards the adoption of folding furniture, consumers are looking out for inspiring design for folding furniture which exudes relaxation, luxury, and comfort. It is attributable to the versatility, functionality, and style of the furniture developed, which has led to increased adoption of such furniture.
Ashley Furniture Industries; Bush Industries, Inc.; Kestell Furniture LLC; Haworth, Inc.; Inter IKEA Holding B.V.; La-Z-Boy, Inc.; Meco Corporation; Sauder Woodworking Company; Atlas Industries; Table-Mate USA, LLC; Plastic Development Group; Leggett & Platt, Inc.; and Murphy Wall-Beds Hardware Inc. are among the well-established players operating in the global folding furniture market. Get Sample Copy with Complete TOC and Figures & Graphs @
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This has caused a significant space crunch as more people are now moving to cities for a better lifestyle.
Folding furniture sector understands better the idea of space economization and is driven by cost-effective measures which are gaining popularity.
These folding furniture are luring in more clients such as taking less space than the conventional ones and often are multi-purpose.
The global folding furniture market is eyeing for a 5.8% CAGR during the forecast period (2017-2023), reveals Market Research Future (MRFR) in a detailed report.The report in its discussion has covered major factors such as customer-centric outlook of the manufacturers and eco-friendly approaches.
In sync, the demand for eco-friendly methods is growing that is why multi-functional furniture has emerged as a new interior decoration rage.
Residential segment is generating the maximum market share and is expected to dominate the market during the forecast period as well.Regional Analysis:Geographically, the global folding furniture market can be segmented namely by four major regions of North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).The APAC region dominated the market in 2016, with Europe and North America coming second and third respectively.
