Folding Furniture Market: Introduction
- Space-saving furniture solves a variety of issues and is intended to fit easily into a particular area. Folding furniture is becoming increasingly fashionable these days, and is one of the most widely adopted furniture worldwide. Folding furniture comes in a variety of price ranges and includes folding couches, folding chairs, folding tables, folding ladders, and more. The folding furniture market is expected to witness significant growth during the forecast period.
Key Drivers and Opportunities of the Global Folding Furniture Market
- Folding furniture has multiple advantages. The furniture can be hidden away when not in use and helps in saving space. The furniture pieces are lighter than traditional furniture and can be carried around easily. In addition, they are versatile, affordable, and durable. All these factors are expected to drive the demand for folding furniture during the forecast period.
- Growing demand for compact furniture, inclination toward multifunctional and compact furniture, increasing residential and non-residential construction activities around the world, increase in industrialization and urbanization, rise in people's disposable income, growing population, and smaller living areas are all factors expected to have a significant impact on the folding furniture market.
- Furniture manufacturers have started to expand their product portfolio by incorporating foldable furniture options in their selection range. Furthermore, manufacturers have an option to target countries which are showing increasing trend of adoption of such furniture, developing countries which are witnessing rapid urbanization and industrialization, and countries where house sizes are small and looking for such furniture. Focusing on expanding the business in such countries provides manufacturers an opportunity to cater to the customers of the region and increase their revenue.
- Manufacturers of furniture have seen an increase in raw material prices in recent years. Additionally, cost of coatings and finishing has also risen. This is likely to increase the overall price of the product and slightly hamper the folding furniture market during the forecast period.
North America to Hold Major Share of the Global Folding Furniture Market
- In terms of region, the folding furniture market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- During the forecast period, North America is anticipated to garner the largest share of the global foldable furniture market. The market for folding furniture in North America is growing due to rising demand for low-maintenance interior items. The United States is the leading contributor in both the worldwide and North American foldable furniture markets. Strong development of commercial and residential structures in the region, high adoption rate of trendy and innovative products, and awareness of the availability of such products in the market are just a few of the factors expected to drive the demand for folding furniture in the region over the forecast period.
Key Players Operating in the Global Folding Furniture Market
- Bush Industries, Inc.
- Dorel Industries Inc.
- Haworth Inc.
- IKEA Systems B.V.
- La-Z-Boy Inc.
- Lifetime Products Inc.
- Meco Corporation
- Murphy Wall Beds Hardware Inc.
- Resource Furniture
- Sauder Woodworking Company
Global Folding Furniture Market: Research Scope
Global Folding Furniture Market, by Product Type
- Folding Chair
- Folding Desks
- Folding Kitchen Cabinet
- Folding Bed
- Folding Sofas
- Others (Folding Dinner Sets, Folding Wall Grill, etc.)
Global Folding Furniture Market, by Category
- Indoor Folding Furniture
- Outdoor Folding Furniture
Global Folding Furniture Market, by Material
Global Folding Furniture Market, by End-users
- Corporate Offices
- Hospitality & Food Services
- Schools and Colleges
- Others (Cafeterias, Airports, etc.)
Global Folding Furniture Market, by Price
Global Folding Furniture Market, by Distribution Channel
- E-commerce Websites
- Company Owned Websites
- Hypermarkets and Supermarkets
- Furniture Stores
- Retail Stores
Global Folding Furniture Market, by Region
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.