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
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