Global Folding Residential Furniture Market, By Product Type (Chairs, Tables, Beds, Others), Application (Residential, Commercial), Distribution Channel (Online, Offline) - Industry Trends and Forecast to 2030.
Folding Residential Furniture Market Analysis and Size
The upsurge in demand for multifunctional as well as compact furniture is likely to drive the demand for the folding furniture market. The rising level of disposable income of people and continuously changing lifestyles are some of the factors driving the folding furniture market. Other significant factors, such as the rise in awareness among people about e-commerce platforms and increasing urbanization across the world, will accelerate the market growth rate. Furthermore, an upsurge in the strong demand for various end-use industries, such as residential and commercial, will positively impact the market’s growth rate. Additionally, a rise in the number of population and smaller living areas will further cushion the growth rate of the market. Also, the development of innovative products such as bookshelves and wall beds, which can change into beds and coffee tables that can change into dining tables and increasing demand for low maintenance interior products will further increase the demand in the folding residential furniture market.
Data Bridge Market Research analyses that the folding residential furniture market which was USD 8.43 billion in 2022, would rocket up to USD 13.63 billion by 2030, and is expected to undergo a CAGR of 7.10% during the forecast period. This indicates that the market value. The cosmetic & personal care segment is expected to dominate the market as it provides smoothening properties to the products. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Folding Residential Furniture Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2023
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Historic Years
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2021 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Chairs, Tables, Beds, Others), Application (Residential, Commercial), Distribution Channel (Online, Offline)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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Market Players Covered
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ASHCOMM LLC (United States), Inter Ikea Systems Bv (Netherlands), Flexsteel Industries, Inc. (United States), Meco Corporation (United States), Haworth Inc. (United States), Resource Furniture (United States), Murphy Wall Beds Hardware Inc. (United States), Leggett & Platt, Incorporated (United States), Sauder Woodworking Co. (United States), The Bedder Way Co. (United States), La-Z-Boy Incorporated (United States), Flexfurn (Belgium), Nilkamal Furniture (India), HARDWARE, INC. (United States), Gopak (United Kingdom), Twin Cities Closet Company (United States), Dorel Industries (Canada), Hussey Seating Company (United States), Expand Furniture Inc. (Canada), and Lifetime Products (United States) among others
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Market Opportunities
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Market Definition.
Folding furniture is a type of DIY furniture that is small and easy to store. It can be used for any purpose and is simple to put together. Foldable furniture is extremely portable, and due to its small size, it can be stored almost anywhere, allowing for optimal space usage. These items are made of a range of materials, including wood, steel, iron, and aluminum. Beds, tables, chairs, sofas, and other types of folding furniture are the most widely utilized. Seating is provided via folding chairs and tables in situations where permanent seating is not practical.
Folding Residential Furniture Market Dynamics
Drivers
Space Optimization:
The growing trend of smaller living spaces, urbanization, and the need for efficient space utilization are driving the demand for folding residential furniture. Folding furniture offers the flexibility to maximize space when needed and easily store or transform furniture when not in use, making it an attractive solution for compact living environments.
Convenience and Portability:
Folding residential furniture provides convenience and portability, allowing users to easily move and rearrange their furniture as per their needs and preferences. This flexibility appeals to consumers who value adaptability and easy setup, making folding furniture a popular choice for residential settings.
Opportunities:
Sustainable and Eco-friendly Solutions:
With increasing environmental awareness, there is a growing demand for sustainable and eco-friendly furniture options. The folding residential furniture market can capitalize on this opportunity by incorporating eco-friendly materials, utilizing efficient manufacturing processes, and promoting recyclability and sustainability in their products.
Restraints/Challenges:
Design and Durability:
One challenge in the global folding residential furniture market is to maintain a balance between design aesthetics and durability. Since folding furniture requires frequent folding and unfolding, it is crucial to ensure that the design and materials used can withstand repeated use without compromising on quality or structural integrity.
This folding residential furniture market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the 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 Folding residential furniture market contact Data Bridge Market Research for an Analyst Brief. Our team will help you make an informed market decision to achieve market growth.
Recent Development
- In December 2021, Godrej launched Godrej Interio, X-Fold Foldable Work Desk. It is said to be easy to move around with moderate weight and help to design or provide a Work Centre and Study Spaces inside the house since WFH continues for a part of the population.
Global Folding Residential Furniture Market Scope
The folding residential furniture market is segmented on the basis of type, source and industry. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Segments:
Product Type
- Chairs
- Tables
- Beds
- Others
- Sofa
- Ladder
Application
- Residential
- Commercial
Distribution
- Online
- Offline
Global Folding Residential Furniture Market Regional Analysis/Insights
The folding residential furniture market is analysed and market size insights and trends are provided by country, type and application as referenced above.
The countries covered in the folding furniture market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific region is predicted to continue a dominant position among other regions worldwide. This is attributable to the increasing residential and non-residential construction activities that will stimulate the growth of the folding furniture market in this region. Additionally, a rise in industrialization and urbanization will propel the market’s growth rate in this region.
North America is expected to grow during the forecast period of 2022-2029 due to the rising demand for low maintenance interior products and strong development of commercial as well as residential infrastructures in this region. North America is projected to observe a significant amount of growth in the end use industries, including electrical and electronics, construction, and packaging. Moreover, the increasing need for packed and processed food and growing of the construction industry is further anticipated to propel the growth of the folding residential furniture market in the region in the coming years.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, and 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, the impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and folding residential furniture market Share Analysis
The Folding residential furniture market competitive landscape provides details by competitors. 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 folding residential furniture market.
- Some of the major players operating in the folding residential furniture market are:
- ASHCOMM LLC (United States)
- Inter Ikea Systems Bv (Netherlands)
- Flexsteel Industries, Inc. (United States)
- Meco Corporation (United States)
- Haworth Inc. (United States)
- Resource Furniture (United States)
- Murphy Wall Beds Hardware Inc. (United States)
- Leggett & Platt, Incorporated (United States)
- Sauder Woodworking Co. (United States)
- The Bedder Way Co. (United States)
- La-Z-Boy Incorporated (United States)
- Flexfurn (Belgium)
- Nilkamal Furniture (India)
- HARDWARE, INC. (United States)
- Gopak (United Kingdom)
- Twin Cities Closet Company (United States)
- Dorel Industries (Canada)
- Hussey Seating Company (United States)
- Expand Furniture Inc. (Canada)
- Lifetime Products (United States)
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