Folding Furniture Market is expected to reach US$ 4,754.29 Millio by 2027

Published Date: 26 Feb 2021

Report : Folding Furniture Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Product Type (Table and Chair, Sofas, Beds, Table TV Trays, and Others), Application (Residential and Commercial), Material (Wood, Metal, Plastic, and Others), and Distribution Channel (Store-Based and Non Store-Based)

Rising Demand for Portable, Multifunctional, and Space-Saving Furniture Escalates Folding Furniture Market Growth
 
According to our latest market study on “Folding Furniture Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Product Type (Table and Chair, Sofas, Beds, Table TV Trays, and Others), Application (Residential and Commercial ), Material (Wood, Metal, Plastic, and Others), and Distribution Channel (Store-Based and Non Store-Based),” the market was valued at US$ 3,070.80 million in 2019 and is projected to reach US$ 4,754.29 million by 2027; it is expected to grow at a CAGR of 5.7% from 2020 to 2027. The report highlights key factors driving the market growth and prominent players along with their developments in the market.
 
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The demand for folding furniture is rising with rapid urbanization coupled with significant growth in residential sector and rapid advancement related to folding furniture. Folding furniture such as chairs, tables, sofas, beds, table trays, and others are quite popular among both residential and commercial customers.
 
Folding furniture promotes portability and space saving and, thus, is essential for modern living. Besides being space-saving option, folding furniture are quite flexible and possess the capability to be folded, compact in flat or a small size. In general, folding furniture are counted under lightweight and easily deployable structures that possess an ability to get transformed between various configurations in easy and effective manner. Hence, the demand for such form of furniture is quite high amongst consumers. With the rapid advancement backed by strong research activities and rising consumer demand for aesthetic and comfortability, manufacturers are coming up with innovative concepts such as paper folding furniture, furniture involving pop up architectures, and others. Such type of furniture has been designed to suit consumer aesthetic framework and comfortability.
With rising disposable income, shift in lifestyle, and rising trend towards the adoption of folding furniture, consumers are looking out for inspiring design for folding furniture which exudes relaxation, luxury, and comfort. It is attributable to the versatility, functionality, and style of the furniture developed, which has led to increased adoption of such furniture.
 
Ashley Furniture Industries; Bush Industries, Inc.; Kestell Furniture LLC; Haworth, Inc.; Inter IKEA Holding B.V.; La-Z-Boy, Inc.; Meco Corporation; Sauder Woodworking Company; Atlas Industries; Table-Mate USA, LLC; Plastic Development Group; Leggett & Platt, Inc.; and Murphy Wall-Beds Hardware Inc. are among the well-established players operating in the global folding furniture market.
 
Impact of COVID-19 Pandemic on Folding Furniture Market
The COVID-19 outbreak was first reported in Wuhan (China) in December 2019. As of February 2021, the US, India, Brazil, Russia, the UK, France, Spain, Italy, Turkey, Germany, Colombia, and Argentina are among the worst affected countries in terms of confirmed cases and reported deaths. According to the latest WHO figures, there are around 104,370,550 confirmed cases and 2,271,180 total deaths globally. The outbreak has adversely affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The consumer goods industry is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns. The shutdown of various plants and factories in leading regions such as North America, Europe, Asia Pacific, South America, and the Middle East and Africa is restricting the global supply chain and hindering manufacturing activities, delivery schedules, and various goods sales. Furthermore, various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are hampering the business collaborations and partnerships opportunities. All these factors are restraining the growth of various markets related to the consumer goods industry.
 
Global Folding Furniture   Market Breakdown – by Region, 2019
Global Folding Furniture   Market Breakdown – by Region, 2019
 
The report includes the segmentation of the global folding furniture market as follows:
Folding Furniture  Market, by Product Type
  • Table and Chair
  • Sofas
  • Beds
  • Table TV Trays
  • Others
Folding Furniture  Market, by Application
  • Residential
  • Commercial
Folding Furniture Market, by Material
  • Wood
  • Metal
  • Plastic
  • Others 
Folding Furniture Market, by Distribution Channel
  • Store-Based
  • Non Store-Based
Folding Furniture Market, by Geography
  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Rest of Europe
  • Asia Pacific (APAC)
    • Australia
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Rest of Asia Pacific
  • Middle East &Africa (MEA)
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of Middle East &Africa
  • South America
    • Brazil
    • Argentina
    • Rest of South America

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