Folding Furniture Market will exceed US$ 13.88 Billion by 2030
Folding Furniture Market Analysis
Global folding furniture market is anticipated to cross US$ 16.33 billion by 2032 from US$ 7.80 billion in 2023, with a Compound Annual Growth Rate CAGR of 8%.55 over the estimated period 2024 to 2032. This segment has been expanding year by year because of factors such as urbanization, space constraints accompanied by the need for flexible solutions and multifunctional furniture.
Folding Furniture Market Outlook
Folding furniture is identified as flexible uses that are crafted with some capability of collapsing or folding to create stow ability or transportability. This category ranges from the folding chairs, tables, beds, shelves among others; all of which have their uses in various places.Folding furniture is particularly beneficial because it saves space one of the main constraints in most homes. In small apartments or homes, folding chairs and tables are usually a great source of dining or workspace that can be easily folded and put away when not in use. For the same reasons, they are also commonly used in areas where they are easy to transport and quick to raise like in picnicking or camping.
Folding bed as well as sofa bed are useful particularly in guest rooms or in living room where additional bed space is required. They provide the comfort without crossing over into the territory of bachelor pads and hotel rooms. Cabinet rolling lofts are uniquely designed such that they can be rolled or folded flat in the event that it is not being used to store anything.
Driving Factor in the Folding Furniture Market
Increasing urbanization worldwide drives demand for space-efficient furniture solutions
Urbanization around the world has led to demand for new convenient furniture and folding furniture for small living spaces is one of the most sought after. City residents are usually presented with the challenge of space constraint this leads them to look for multifunctional furniture that they can use in their limited space. folding chairs, tables or beds for instance can be readily folded or unfolded in the event that the resident needs a larger space or when the furniture is not in use allowing the residents to maximize the use of their space without necessarily compromising the elegance of their house. It has solidified the need for convenient movable interior goods that are easily portable because of the unavailability of larger spaces given the centralized city environments, thus, fueling world demand and the buying trend of folding furniture.High real estate prices drive consumers to prioritize space utilization, making folding furniture an ideal solution for optimizing living areas.
Consumers are forced to pay high amounts of rent or purchase real estate due to high costs; hence, consumers aim at utilizing as many spaces as possible folding furniture to make best use of a room. Folding furniture like chairs, tables, and beds are advantageous as they can be folded or compressed in the event that they are not in use so as to create more space in the small apartments or houses. Such an approach is rather practical and can be used for people who want to retain their functionality while being comfortable and stylish, and adapt to the conditions of the modern bustling city where available space is rather limited. Hence, folding furniture can be received as a key tendency in interior design and space usage in modern conditions, as now people focus on saving space and money for rent.
Remote work trends boost demand for portable, adaptable furniture that's easy to move or store as required.
Many organisations have adopted remote working therefore now the need for furniture that can be easily transferred or packed away. Telecommuting and flexible work settings demand chairs that should enhance the effectiveness of adjustments within a working environment. Mobile structures such as desks, chairs and shelving units that are multimodal and compact are more and more appreciated by teleworkers concerned by comfort and utility. Such a trend implies an evolution of modern home offices as well-optimized, comfortable, and adaptable to new work requirements, thus improving remote work environments.
Asia Pacific Folding Furniture Market
The folding furniture market is Asia Pacific is fast growing with the factors such as urbanization, increase in income and growing trend of compact housing in countries like China, Japan, India and South Korea. Folding furniture is ideal for use in city centers because limited space is common in such regions and every space needs to be utilized to the maximum. The increasing consumer consciousness about space utilization and the multifunctional furniture that can be applied in their homes is among the factors leading to market growth; a factor strengthened by advances in furniture design and types of use available in the market. Progresses in electronic business and logistics make market availability better, benefit the facilitating chance for manufacturers and retailers to exploit opportunities to supply the change demand from urban consumers, pursuing for such purpose and multifunctional furniture solutions.Folding Furniture Company Analysis
Key players in the Folding Furniture Market include Flexsteel Industries, Dorel Industries, Lifetime Brands, Home Depot, Bassett Furniture Industries, La-Z-Boy, Leggett & Platt, and Haverty Furniture.Global Folding Furniture Company News
April 2022: Reopening its 9th-floor C&D Building showroom at the High Point Market, Dorel Home, a division of Dorel Industries Inc., will display new items in addition to its expanding collection of well-known licensed brands.February 2022: Ashley Furniture HomeStore's new 15,000-square-foot store in Guadalajara, Jalisco, Mexico, is on Avenida Patria #120. The Guadalajara location greatly aids the Ashley brand's growth in Mexico.
Type - Market Breakup in 5 Viewpoints
1. Tables2. Chairs
3. Sofas
4. Beds
5. Others
Application - Market Breakup in 2 Viewpoints
1. Residential2. Commercial
Distribution Channel - Market Breakup in 4 Viewpoints
1. Supermarkets & Hypermarket2. Specialty Stores
3. E-commerce
4. Others
Material - Market Breakup in 5 Viewpoints
1. Metal2. Wood
3. Plastic
4. Glass
5. Others
Geography - Market Breakup of 25 countries
North America
- United States
- Canada
Europe
- France
- Germany
- Italy
- Spain
- United Kingdom
- Belgium
- Netherlands
- Turkey
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Thailand
- Malaysia
- Indonesia
- New Zealand
Latin America
- Brazil
- Mexico
- Argentina
Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
Company Insights:
- Overview
- Recent Development & Strategies
- Product Portfolio
- Financial Insight
Key Players Analysis:
1. Flexsteel Industries2. Dorel Industries
3. Lifetime Brands
4. Home Depot
5. Bassett Furniture Industries
6. La-Z-Boy
7. Leggett & Platt
8. Haverty Furniture
9. Hooker Furnishings
10. IKEA
Table of Contents
Companies Mentioned
- Flexsteel Industries
- Dorel Industries
- Lifetime Brands
- Home Depot
- Bassett Furniture Industries
- La-Z-Boy
- Leggett & Platt
- Haverty Furniture
- Hooker Furnishings
- IKEA
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 230 |
| Published | July 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 7.8 Billion |
| Forecasted Market Value ( USD | $ 16.33 Billion |
| Compound Annual Growth Rate | 7.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
