Registering a CAGR of 5.9% over the forecast period of 2022-2027, the global folding furniture market is anticipated to reach the market value US$ 16010 million in the year 2027 from US$ 10750 million in the year 2020.
Folding furniture is a suitable choice for people living in smaller places or studio apartments. It is an effective alternative for traditional furniture. Additionally, the multi-functionality and space-saving features of folding furniture enhance the decor of the available space. Folding furniture is generally used in commercial spaces, such as offices, hospitals, and hotels.The adoption of folding furniture is growing in the most populous cities of the world, owing to an increase in the number of smaller homes.Rapid pace of urbanization, adoption of co-living trend in the U.S., and growth in real estate market influence the folding furniture industry. In the U.S., a growing trend of millennials opting for rented apartment has been observed, who are more inclined towards affordable, multifunctional, and smaller furniture that suits their urban and dynamic lifestyles.The folding furniture manufacturers are trying to cater to the metropolitan ways of life of consumers and are looking forward to add extra appealing features to furniture. To cater to the requirements of consumers seeking furniture that easily get transformed from work to living mode, the market players are widening their product portfolio.By application, the folding furniture market has been segmented into residential and commercial. The residential sector dominates the application segment of the market, and it is expected to register a healthy CAGR during the forecast period. The increasing residential construction activities across the world increases the demand in the market.
On April 4th 2022, Dorel Home, a segment of Dorel industries Inc. has reopened its 9th floor C&D Building showroom at the High Point Market, to showcase both new products and its growing portfolio of high-profile licensed brands.
Folding Furniture Market is segmented based on the type, applications, companies and regions.
By Type, Folding Furniture Market Has Been Segmented Into
The Applications On Folding Furniture Market Is,
By Distribution Channel, Folding Furniture Market Is
The report offers in-depth assessment of the growth and other aspects of the Folding Furniture Market in important regions, including the U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, Taiwan, Southeast Asia, Mexico, and Brazil, etc. Key regions covered in the report are North America, Europe, Asia-Pacific and Latin America.
North America and Europe are also major regions for the folding furniture market. The increasing demand for low-maintenance interior products is driving the growth of the market in these regions.
A significant number of people tend to move to large cities for better opportunities. This phenomenon gradually decreases the average living area and increases the cost of houses. Therefore, folding furniture is the best suitable option. Cities, like Beijing (China), possess high growth potential for the market. Urbanization is another factor that drives the growth of the folding furniture market, as it decreases the average living space and increases the value of available limited space, thereby, making folding furniture the most suited option. Mumbai, Kolkata, Karachi, and Shenzhen are other cities that possess high growth potential. The increasing residential and non-residential construction activities in the region are driving the growth of the market.
Report Attributes | Report Details |
Report Title | Folding Furniture Market - Growth, Trends And Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players: Ikea, Leggett & Platt, Dorel Industries, Hussey Seating |
Forecast Period 2022 to 2027 CAGR | CAGR of 5.9% during the review period (2022 to 2027). |
By Type |
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By Application |
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By Companies | Ikea, Leggett & Platt, Dorel Industries, Hussey Seating, Lifetime Products, La-Z-Boy, KI, Haworth, Quanyou, Meco, BBMG Tiantan Furniture, Flexsteel Industries, RUKU Klappmöbel, Maxchief Europe, Sauder Woodworking, Qumei and others. |
Regions Covered |
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Countries Covered |
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Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2022 to 2027 |
Number of Pages | 121 |
Customization Available | Yes, the report can be customized as per your needs |
What is the study period of this market?
The Folding Furniture Market is studied from 2017 - 2027.
What is the growth rate of Folding Furniture Market?
The Folding Furniture Market is growing at a CAGR of 5.9% over the next 5 years.
What regions does this Folding Furniture Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
All our reports are customizable to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
SECONDARY RESEARCH
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PRIMARY RESEARCH
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