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Global Folding Furniture Market – Industry Trends and Forecast to 2031

FMCG

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Global Folding Furniture Market – Industry Trends and Forecast to 2031

  • FMCG
  • Upcoming Report
  • May 2024
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Folding Furniture Market – Industry Trends and Forecast to 2031

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2023–2031
Diagram Market Size (Base Year) USD 9.99 Billion
Diagram Market Size (Forecast Year) USD 18.22 Billion
Diagram CAGR %

Global Folding Furniture Market, By Product Type (Chairs, Tables, Beds, and Others), Application (Residential and Commercial), Distribution Channel (Online and Offline) – Industry Trends and Forecast to 2031.

Folding Furniture Market

Folding Furniture Market Analysis and Size

The market is experiencing steady growth, one of the major drivers is the increasing trend of urbanization and the growing demand for space-saving furniture solutions, especially in small apartments and compact living spaces. Folding furniture's versatility and convenience make it a favored option for consumers seeking to optimize space without sacrificing functionality. Another key driver is the rise in the number of dual-income households and the increasing focus on convenience and practicality in furniture choices.

The global folding furniture market size was valued at USD 9.99 billion in 2023 and is projected to reach USD 18.22 billion by 2031, with a CAGR of 7.80% during the forecast period of 2024 to 2031. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behaviour.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2024-2031

Base Year

2023

Historic Years

2022 (Customizable to 2016 - 2021)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Product Type (Chairs, Tables, Beds, and Others), Application (Residential and Commercial), Distribution Channel (Online and Offline)

Countries Covered

U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, and Rest of South America

Market Players Covered

ASHCOMM LLC (U.S.), Inter Ikea Systems Bv (Netherlands), Flexsteel Industries, Inc. (U.S.), Meco Corporation (U.S.), Haworth Inc. (U.S.), Resource Furniture (U.S.), Murphy Wall Beds Hardware Inc. (U.S.), Leggett & Platt, Incorporated (U.S.), Sauder Woodworking Co. (U.S.), The Bedder Way Co. (U.S.), La-Z-Boy Incorporated (U.S.), Flexfurn (Belgium), Nilkamal Furniture (India), HARDWARE, INC. (U.S.), Gopak (U.K.), Twin Cities Closet Company (U.S.), Dorel Industries (Canada), Hussey Seating Company (U.S.), Expand Furniture Inc. (Canada), and Lifetime Products (U.S.)

Market Opportunities

  • Sustainable Manufacturing Practices
  • Innovative Furniture Designs and Materials

Market Definition

Folding furniture refers to furniture pieces that are designed to be easily folded or collapsed for storage or transport. These pieces are typically lightweight and versatile, making them ideal for use in small spaces or for temporary seating arrangements.

Folding Furniture Market Dynamics

Drivers

  • Urbanization and Small Living Spaces 

The rising urbanization has significantly impacted living spaces, with more people residing in apartments and condos characterized by limited square footage. This shift has created a demand for furniture that maximizes space efficiency without compromising on functionality and comfort. Folding furniture has become a practical solution, allowing items to be easily folded and stored when not in use, effectively maximizing space usage. Manufacturers are responding to this trend by designing innovative folding furniture that seamlessly blends style with functionality, catering to the needs of urban dwellers seeking versatile and space-saving solutions, driving the market growth.        

  • Growing Popularity of Outdoor Activities 

The growing popularity of outdoor activities has spurred the demand for portable and convenient furniture options that enhance outdoor experiences. Folding furniture, such as collapsible chairs, tables, and loungers, has become a staple for outdoor enthusiasts seeking comfort and convenience while camping, picnicking, or attending outdoor events. These lightweight and easily portable pieces enable individuals to experience outdoor activities comfortably. Developing durable and weather-resistant folding furniture that meets the needs of outdoor enthusiasts seeking quality and functionality in their outdoor furniture choices drives the market growth.

Opportunities

  • Sustainable Manufacturing Practices     

Incorporating sustainable manufacturing practices is becoming increasingly important in the furniture industry, including the production of folding furniture. Manufacturers are recognizing the need to minimize their environmental impact by using recycled materials, reducing waste, and employing energy-efficient processes. By utilizing these practices, manufacturers not only support environmental conservation but also attract an expanding group of environmentally conscious consumers. This shift towards sustainability is creating new opportunities for the industry, driving innovation, and fostering a more eco-friendly approach to furniture manufacturing.       

  • Innovative Furniture Designs and Materials   

Manufacturers are constantly exploring new materials and design concepts to enhance the functionality, durability, and aesthetic appeal of their products. Lightweight and durable materials, such as aluminum alloys and high-performance plastics, are being used to create folding furniture that is both sturdy and easy to transport. In addition, innovative design features, such as modular components and multi-functional capabilities, are being incorporated into folding furniture to meet the evolving needs of consumers. These innovations are enhancing the quality of folding furniture and its scope of use, making it a versatile and attractive option for a variety of settings and creating new opportunities.

Restraints/Challenges

  • Perception of Durability  

The perception that folding furniture is less durable than traditional furniture stems from the misconception that folding furniture is made from inferior materials or lacks structural integrity. In reality, many folding furniture manufacturers use high-quality materials and construction techniques to ensure their products are durable and long-lasting. It is one of the major challenges to market growth. 

  • Availability of Low-Cost Alternatives     

The availability of low-cost alternatives, such as plastic chairs and tables, are often perceived as more affordable options, leading some consumers to choose them over folding furniture. In markets where customers are very price-conscious, the perception of affordability is a big factor in what they choose to buy. In addition, low-cost alternatives may be more readily available in retail stores and online marketplaces, making them more accessible to consumers. This accessibility can further influence consumer choices, as convenience plays a significant role in purchasing behavior. As a result, manufacturers of folding furniture face the challenge of competing with these low-cost alternatives.

This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Development

  • In November 2023, ITALICA introduced the Phoenix Folding Chair, heralded as India's pioneering fully plastic folding chair. This innovative product marks a significant milestone in the furniture industry, offering a blend of durability, convenience, and sustainability. The Phoenix Folding Chair is crafted from high-quality, sturdy plastic, providing a versatile seating solution for various settings, including homes, offices, and events    
  • In April 2022, Dorel Home, a division of Dorel Industries Inc., unveiled its newly reopened 9th-floor C&D Building showroom at the High Point Market. The showroom features a range of new products as well as an expanding collection of high-profile licensed brands

Folding Furniture Market Scope

The market is segmented on the basis of product type, application, and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.

Product Type

  • Chairs
  • Tables
  • Beds
  • Others

Application

  • Residential
  • Commercial

Distribution Channel

  • Online
  • Offline

Folding Furniture Market Regional Analysis/Insights

The market is analyzed and market size insights and trends are provided by country, product type, application, and distribution channel as referenced above.

The countries covered in the market report are U.S., Canada, and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, and Rest of South America.

Asia-Pacific is expected to dominate the market due to the increasing residential and non-residential construction activities that will stimulate growth in the folding furniture market. Furthermore, the rise in industrialization and urbanization is expected to propel the market's growth rate in this region.

North America is expected to experience rapid growth in the market due to the rising demand for low-maintenance interior products and the strong development of commercial and residential infrastructures in the region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Folding Furniture Market Share Analysis

The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the market.

Some of the major players operating in the market are:

  • ASHCOMM LLC (U.S.)
  • Inter Ikea Systems Bv (Netherlands)
  • Flexsteel Industries, Inc. (U.S.)
  • Meco Corporation (U.S.)
  • Haworth Inc. (U.S.)
  • Resource Furniture (U.S.)
  • Murphy Wall Beds Hardware Inc. (U.S.)
  • Leggett & Platt, Incorporated (U.S.)
  • Sauder Woodworking Co. (U.S.)
  • The Bedder Way Co. (U.S.)
  • La-Z-Boy Incorporated (U.S.)
  • Flexfurn (Belgium)
  • Nilkamal Furniture (India)
  • HARDWARE, INC. (U.S.)
  • Gopak (U.K.)
  • Twin Cities Closet Company (U.S.)
  • Dorel Industries (Canada)
  • Hussey Seating Company (U.S.)
  • Expand Furniture Inc. (Canada)
  • Lifetime Products (U.S.)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

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FREQUENTLY ASK QUESTIONS

The major companies in the folding furniture market are ASHCOMM LLC (U.S.), Inter Ikea Systems Bv (Netherlands), Flexsteel Industries, Inc. (U.S.), Meco Corporation (U.S.), Haworth Inc. (U.S.), Resource Furniture (U.S.), Murphy Wall Beds Hardware Inc. (U.S.), Leggett & Platt, Incorporated (U.S.), Sauder Woodworking Co. (U.S.), The Bedder Way Co. (U.S.), La-Z-Boy Incorporated (U.S.), Flexfurn (Belgium), Nilkamal Furniture (India), HARDWARE, INC. (U.S.), Gopak (U.K.), Twin Cities Closet Company (U.S.), Dorel Industries (Canada), Hussey Seating Company (U.S.), Expand Furniture Inc. (Canada), and Lifetime Products (U.S.).
The product type, application, and distribution channel are the factors on which the folding furniture market research is based.
The Growing Popularity of Outdoor Activities, Urbanization, and Small Living Spaces are the growth drivers of the folding furniture market.
The Folding Furniture Market size will be worth USD 18.22 billion by 2031
The Folding Furniture Market growth rate will be 7.80% by 2031.
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