Folding Furniture Market Size, Analysis Report 2030

Folding Furniture Market Forecast to 2030 - Global Analysis By Product Type (Tables, Chairs, Sofas and Beds, Others), Material (Wood, Metal, Plastic), Application (Residential, Commercial, Others), and Distribution Channel (Online, Offline)

Publication Month : Jul 2023

  • Report Code : TIPRE00007010
  • Category : Consumer Goods
  • Status : Published
  • No. of Pages : 167
Inquire Before Buy

PRICING

$4550

$3640

[Research Report] The folding furniture market size is projected to grow from US$ 3,276.05 million in 2022 to US$ 5,761.03 million by 2030; the market is expected to grow at a CAGR of 7.6% from 2023 to 2030.

Market Insights and Analyst View:

Folding furniture is considered as a space-saving and portable form of furniture ideal for people with miniaturized home structures. Such furniture is known for its features supporting multifunctionality. Such pieces of furniture can be easily transformed, collapsed, or folded, creating better space portability. The rapid pace of urbanization, adoption of co-living trends in various developed and developing economies, and the ongoing growth of the real estate market favor the folding furniture market growth.

Growth Drivers and Challenges:

Folding furniture is suitable for people living in smaller places or studio apartments. It is an adequate substitute for traditional furniture. The multifunctionality 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, hotels, and hospitals. The adoption of this type of furniture is rising in most populous cities owing to an increase in the trend of smaller homes. Furthermore, the rising prices of traditional wood furniture due to increasing environmental concerns have paved the way for these modern products. This furniture is manufactured using lightweight materials such as plastic and mild steel. Therefore, plastic and metal folding furniture products are gaining popularity due to their lower cost and better durability. Further, single and two-person households have paved the way for less occupying space furniture. These factors are expected to grow the folding furniture market in the forecast period. Lucid Mattress provides a folding metal bed frame with heavy-duty wired grid supports to adjust the mattress effectively. However, factors such as a longer replacement cycle, volatility in raw material prices, and increased competition among manufacturers hamper the market growth.

Customize Research To Suit Your Requirement

We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.

Folding Furniture Market: Strategic Insights

folding-furniture-market
Market Size Value inUS$ 3,276.05 million in 2022
Market Size Value byUS$ 5,761.03 million by 2030
Growth rateCAGR of 7.6% from 2023 to 2030
Forecast Period2023-2030
Base Year2022
Analyst Image

Shejal

Have a question?

Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.

Analyst Image  Speak to Analyst

Report Segmentation and Scope:

The “Global Folding Furniture Market” is segmented on the basis of product type, material, application, distribution channel, and geography. Based on product type, the folding furniture market is segmented into tables, chairs, sofas, and beds. In terms of material, the market is classified into wood, metal, and plastic. The folding furniture market, by application, is segmented into residential, commercial, and others. Based on distribution channel, the folding furniture market is bifurcated into online and offline. The folding furniture market based on geography is segmented into North America (US, Canada, and Mexico), Europe (Germany, France, Italy, UK, Russia, and Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America)

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities

Segmental Analysis:

Based on application, the folding furniture market is segmented into residential, commercial, and others. The residential segment holds a significant share of the market and is expected to register a significant CAGR in the folding furniture market during the forecast period. Kitchens, dining rooms, living rooms, bedrooms, and outdoor areas are among the residential areas wherein folding furniture products are required. The increasing residential construction activities worldwide are driving the segment's market growth. The market for the commercial segment is also expected to grow significantly during the forecast period. Folding furniture is installed in numerous sub-applications within the commercial construction sector, such as corporate offices, educational institutions, and healthcare centers. They are also installed in cafeterias and hotels.

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities

Regional Analysis:

Based on geography, the folding furniture market is divided into five key regions: North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa. The global folding furniture market was dominated by Asia Pacific; the market in this region was valued at US$ 1,150 million in 2022. Europe is the second major contributor to the market, which holds almost 20% of the global market. North America is expected to register a CAGR of 8% in the folding furniture market during the forecast period. In Asia Pacific, many 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 becomes the best suitable option in such areas. Urbanization is another factor that drives the growth of the folding furniture market share in Asia Pacific. Moreover, increasing preference for one-person or two-person households in American countries such as the US, Canada, and Mexico has urged consumers to invest in such products owing to less usage and smaller living space. In addition, increasing awareness regarding space-saving furniture in developed countries such as the UK, Germany, and Britain-owing to advantages such as flexibility and ease of shifting—has widened the scope for folding furniture product vendors in European countries.

Industry Developments and Future Opportunities:

Various initiatives taken by key players operating in the folding furniture market are listed below:

  1. In April 2022, Dorel Home, a segment of Dorel Industries Inc., 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.
  2. In February 2022, Ashley Furniture HomeStore in Guadalajara, Mexico, opened the new 15,000 sq. ft. showroom located on Avenida Patria #120, in Guadalajara, Jalisco, Mexico. The Guadalajara store is significant for expanding the Ashley brand in Mexico.
  3. In February 2019, Inter IKEA Systems B.V. launched space-saving shelving units with foldable tables, which can be easily used as a desk as well as a dining table.

COVID-19 Impact: 

The COVID-19 pandemic affected almost all industries in various countries. Lockdowns, travel restrictions, and business shutdowns in North America, Europe, Asia Pacific (APAC), South & Central America (SAM), and the Middle East & Africa (MEA) hampered the growth of several industries, including the consumer goods industry. The shutdown of manufacturing units disturbed global supply chains, manufacturing activities, delivery schedules, and essential and nonessential product sales. Various companies witnessed delays in product deliveries and a slump in sales of their products in 2020. Different furniture manufacturers temporarily close their operations or limit their production capacities, negatively impacting the folding furniture market growth. Also, in the early period of the crisis, manufacturers were majorly dependent on the existing inventory. Due to the pandemic-induced economic recession, consumers became more cautious and selective in purchasing decisions. They significantly limited nonessential purchases due to lower incomes and uncertain earning prospects, especially in developing regions. However, by the end of 2021, many countries were fully vaccinated, and governments announced relaxations in certain regulations, including lockdowns and travel bans. Changing lifestyle trends post-pandemic, such as increasing emphasis on comfort, convenience, and personalization, influenced the demand for folding furniture. The growth of online retail during the pandemic also provides growth opportunities for folding furniture manufacturers. Along with this, the relaxation of trade restrictions aided in import and export operations, positively impacting the folding furniture market growth.

Competitive Landscape and Key Companies:

A few of the prominent players operating in the global folding furniture market include Leggett & Platt Inc, Ashley Furniture Industries LLC, Inter IKEA Holding BV, Hussey Seating Co, Sauder Manufacturing Co, Meco Corp, Dorel Industries Inc, Maxchief Europe SL, Leisure N Pleasure SARL, Godrej & Boyce Manufacturing Co Ltd. These market players are adopting strategic development initiatives to expand, further driving the market growth. 

Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Product Type, Material, Application, and Distribution Channel

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

Frequently Asked Questions


What is the largest region of the global folding furniture market?

Asia Pacific accounted for the largest share of the global folding furniture market with middle-class population, coupled with growth in urbanization.

Based on the distribution channel, which is the fastest-growing segment in the folding furniture market?

Based on category, online is the fastest-growing segment in the folding furniture market. Online portals such as Amazon, offer various benefits such as home delivery, various secure payment options, attractive discounts, and convenience for customers.

Can you list some of the major players operating in the global folding furniture market?

The major players operating in the global folding furniture market are Leggett & Platt Inc, Ashley Furniture Industries LLC, Inter IKEA Holding BV, Hussey Seating Co, Sauder Manufacturing Co, Meco Corp, Dorel Industries Inc, Maxchief Europe SL, Leisure N Pleasure SARL, and Godrej & Boyce Manufacturing Co Ltd among few others.

Based on the product type, why does the sofas and beds segment have the largest revenue share?

Based on the product type, the sofas & Beds segment accounted for the largest revenue share as the foldable sofas & beds can be folded inwards and outwards, has extendable legs, and is adjustable for back support, helping reduce back-related complications.

What are the opportunities for folding furniture in the global market?

The increasing advancement in folding furniture is expected to provide lucrative opportunities to the players operating in the folding furniture market.

What are the key drivers for the growth of the global folding furniture market?

Rising demand for portable, multi-functional, and space-saving furniture and rapid urbanization along with the growing residential sector are some of the key driving factors for the folding furniture market.

The List of Companies - Folding Furniture Market

  1. Leggett & Platt Inc            
  2. Ashley Furniture Industries LLC    
  3. Inter IKEA Holding BV       
  4. Hussey Seating Co            
  5. Sauder Manufacturing Co            
  6. Meco Corp    
  7. Dorel Industries Inc          
  8. Maxchief Europe SL          
  9. Leisure N Pleasure SARL    
  10. Godrej & Boyce Manufacturing Co Ltd

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

Trends and growth analysis reports related to Folding Furniture Market