Global Folding Furniture Market – Overview
The Folding Furniture industry, from the recent research reports, is foreseen to grow in terms of value from USD 8.58 billion in 2021 to USD 15.97 billion by 2030 with an attractive compound annual growth rate (CAGR) of 7.5%. DIY furniture which is very small and easy to store is a basic definition for folding furniture. It is very easy to shift and can be stored anywhere. These can be made from any kind of material such as aluminium, wood, steel, etc.
Foldable furniture comprises furniture which can be folded into a position or a shape and needs minimal space. Beds, sofas, tables, chairs, and other furniture are the different types of folding furniture that have wide applications in various non-residential and residential sectors. Various factors are propelling the global folding furniture market. According to the recent MRFR report, such factors include rapid pace of urbanization, booming real estate market, adoption of co-living trend in the United States, increasing trend of millenials choosing rented apartment, rapid industrialization in Mexico, Brazil, Thailand, Indonesia, India, and China, and shift to urban areas from rural areas. Additional factors adding market growth include rising population, lack of housing structures, an effective alternative to traditional furniture, multi-functional and space saving, improve décor of space available, and demand for low maintenance building products & decorative interior. On the contrary, fluctuating raw material cost and the impact of the COVID-19 pandemic are factors that may impede the global folding furniture market growth over the forecast period.
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Global Folding Furniture Market – Prominent Players
The prominent players of this market are Resource Furniture (U.S.), Expand Furniture (Canada), Meco Corporation (U.S), Ashley Furniture Industries Inc. (U.S.), IKEA Systems B.V. (Sweden), Murphy Bed (U.S.), La-Z-Boy Incorporated (U.S.), Flexfurn Ltd (Belgium), Gopak Ltd (U.K.), Nilkamal Limited (India)., Leggett & Platt, Inc. (U.S.), and Dorel Industries Inc. (Canada).
Other factors fostering the growth of the market include towering demand from end-user industries, growth within the global thermoplastic market.
In contrast, problems associated with cost, unfamiliar processing, design issues, and competition from alternatives are likely to undermine the growth of the market. Meanwhile, rigorous R&D activities aimed at overcoming the shortcomings of Folding Furniture is expected to yield positive results which would further enhance the growth of the global Folding Furniture Market.
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Folding Furniture Market – Segments:
If we look at the latest research analysis of the Folding Furniture market, the industry can be ramified based on product and applications. Among all the segments of this market, the sofa segment will experience noteworthy growth during the forecast period as it is very popular and makes the décor of the living room very attractive. The foldable bed segment will register the highest CAGR during the forecast period as the concept of co-living is becoming very popular in different regions of the world. The residential segment will also witness good growth during the research period as there is an increase in residential construction projects, The demarcation of this market into various segments is as follows:-
Based on the product, it has beds, sofas, chairs, tables, and other furniture.
Based on the applications, it has residential and non-residential.
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Folding Furniture Market – Regional Analysis:
Looking at Folding Furniture market share and other details it becomes very clear that this industry is notably working in four major regions of the world that is Asia Pacific region, the North American region, the European region, and the rest of the world (the Middle East and Africa). The Asia Pacific region is anticipated to dominate this market during the forecast period which will be led by its developing countries such as China, India, and Japan, etc. factors such as rising non-residential and residential activities and increase in urbanization and industrialization will be contributing towards the growth of this market by the end of the research period. Europe will be the second-largest market as foldable furniture is the modern solution to space problems and the simultaneous rising population &small living areas are the factors that will be driving the growth of this market in this region.
INDUSTRY NEWS
The key manufacturers of this market are trying to cope with the way of life of consumers living in metropolitan cities and are trying to add more attractive features to their products. Also to keep up with the demands of consumers looking for furniture that can be transformed easily from working to relax mode, the portfolios of companies are being widened. In addition to all this, the main focus of manufacturers is shifting towards creating furniture that is light in weight, looks more aesthetic and appealing, is easy to move, and at cheaper prices.
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1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1 PORTER’S FIVE FORCES ANALYSIS
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF SUPLIERS
3.1.3 BARGAINING POWER OF BUYERS
3.1.4 THREAT OF SUBSTITUTES
3.1.5 SEGMENT RIVALRY
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
5 GLOBAL FOLDING FURNITURE MARKET, BY PRODUCT
5.1 INTRODUCTION
5.2 CHAIRS
5.2.1 MARKET ESTIMATES & FORECAST, 2020-2027
5.2.2 MARKET ESTIMATES & FORECAST BY REGION, 2020-2027
5.3 TABLES
5.3.1 MARKET ESTIMATES & FORECAST, 2020-2027
5.3.2 MARKET ESTIMATES & FORECAST BY REGION, 2020-2027
5.4 SOFAS
5.4.1 MARKET ESTIMATES & FORECAST, 2020-2027
5.4.2 MARKET ESTIMATES & FORECAST BY REGION, 2020-2027
5.5 BEDS
5.5.1 MARKET ESTIMATES & FORECAST, 2020-2027
5.5.2 MARKET ESTIMATES & FORECAST BY REGION, 2020-2027
5.6 OTHERS
5.6.1 MARKET ESTIMATES & FORECAST, 2020-2027
5.6.2 MARKET ESTIMATES & FORECAST BY REGION, 2020-2027
6 GLOBAL FOLDING FURNITURE MARKET, BY APPLICATION
6.1 INTRODUCTION
6.2 RESIDENTIAL
6.2.1 MARKET ESTIMATES & FORECAST, 2020-2027
6.2.2 MARKET ESTIMATES & FORECAST BY REGION, 2020-2027
6.3 NON-RESIDENTIAL
6.3.1 MARKET ESTIMATES & FORECAST, 2020-2027
6.3.2 MARKET ESTIMATES & FORECAST BY REGION, 2020-2027
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