IMARC Group, a leading market research company, has recently releases report titled “Folding Furniture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global folding furniture market size, growth, share, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Industry Overview of Folding Furniture
Folding furniture refers to pieces of special furniture that can be collapsed flat or folded into a compact structure for easy storage and transport. It comprises a wide variety of furniture, such as chairs, tables, sofa sets, balcony tables, beds, diners, ottomans, and shower benches. It is lightweight, easy to assemble, and cost-effective. It can be moved around easily and can be stored in small spaces when not in use. It also allows homeowners to decorate their place freely without worrying about clutter caused by too many furniture pieces.
How Big Is the Folding Furniture Market?
The global folding furniture market size reached US$ 4.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.2 Billion by 2028, exhibiting a growth rate (CAGR) of 4.2% during 2023-2028.
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What are the growth prospects and trends in the folding furniture industry?
At present, the increasing demand for folding furniture, as they complement the overall aesthetics of a modern space, represents one of the crucial factors influencing the market positively.
Besides this, the rising popularity of folding furniture among individuals living in small places or studio apartments is propelling the growth of the market. In addition, the growing utilization of folding furniture in various commercial spaces, such as offices, hotels, and hospitals, is offering a favorable market outlook.
Apart from this, the increasing consumer interest in affordable, multifunctional, and smaller furniture that suits urban and dynamic lifestyles is contributing to the growth of the market. Additionally, the rising demand for low-maintenance interior products is supporting the growth of the market.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product Type:
- Tables and Chairs
- Sofas
- Beds
- Others
Breakup by Distribution Channel:
- Offline
- Online
Breakup by Application:
- Residential
- Commercial
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Ashley Furniture Industries Inc., Dorel Industries Inc., Flexfurn limited, Haworth Inc. (Haworth International Ltd.), Hussey Seating Company, Inter IKEA Systems B.V. (Inter IKEA Holding B.V), Kestell Furniture LLC, La-Z-Boy Incorporated, Lifetime Products Inc., Meco Corporation, Murphy Wall Beds Hardware Inc, Nilkamal Furniture and Sauder Woodworking Company.
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