Folding furniture represents the movable articles that are installed in small rooms or buildings for several purposes, such as sleeping and storage. It is manufactured using steel, wood, plastic, aluminum, etc., and can be customized as per the requirements of the consumer. Some of the commonly available folding furniture items include tables, chairs, beds, desks, cabinets, cupboards, kitchen interiors, etc. Furthermore, these products offer various benefits, such as durability, convertibility, cost-effectiveness, etc. Consequently, folding furniture finds wide-ranging applications in residential and commercial complexes across the globe.
|Base Year: 2021|
|Forecast Year: 2022-2027|
According to the latest report by IMARC Group, titled "Global Folding Furniture Market Share, Size, Industry Trends, Growth, Opportunity and Forecast 2022-2027", The global folding furniture market reached a value of US$ 3.84 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 5.18 Billion by 2027 exhibiting a CAGR of 4.60% during 2022-2027.
Folding Furniture Market Trends and Drivers:
The emerging trend of compact and integrated modular homes, owing to the rising number of nuclear families, is primarily driving the folding furniture market. Additionally, the widespread product requirement for creating a personalized working space, on account of the sudden outbreak of the COVID-19 pandemic across countries and the elevating adoption of remote working models, is further catalyzing the market growth.
Besides this, the escalating demand for aesthetically appealing styles and finishes that take minimal space is augmenting the leading manufacturers to launch an innovative range of multi-purpose furniture with improved functionality, aesthetics, comfort, storage capacities, etc., which is acting as another significant growth-inducing factor.
Moreover, the introduction of numerous advanced technologies, including augmented reality (AR)-based apps that allow individuals to test products in real-time by offering a virtual three-dimensional (3D) model within a space, is anticipated to fuel the folding furniture market over the forecasted period.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Folding Furniture Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Ashley Furniture Industries Inc.
Dorel Industries Inc.
Haworth Inc. (Haworth International Ltd.)
Hussey Seating Company
Inter IKEA Systems B.V. (Inter IKEA Holding B.V)
Kestell Furniture LLC
Lifetime Products Inc.
Murphy Wall Beds Hardware Inc
Sauder Woodworking Company
The report has segmented the market on the basis of region, product type, distribution channel and application.
Breakup by Product Type:
Breakup by Distribution Channel:
Breakup by Application:
Breakup by Region:
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