The folding furniture market size is expected to see strong growth in the next few years. It will grow to $13.69 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to rising smart home integration, rise of home offices, growing residential and non-residential construction, growing urbanization, rising disposable income. Major trends in the forecast period include advancements in material technology, rising trend towards using eco-friendly and sustainable materials, the need for portable and lightweight furniture, advances in innovative folding mechanisms, and the integration of smart technology.
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Scope Of Folding Furniture Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Folding Furniture Market Overview
Market Drivers –
The increasing focus on space optimization and home renovation is expected to propel the growth of the folding furniture market going forward. Home renovation refers to improving, remodeling, or updating an existing residential property to enhance its functionality, aesthetics, or value. The focus on home renovation arises because of personalization, property value, functionality, sustainability, lifestyle changes, and housing stock conditions. Folding furniture is commonly used in home renovation projects to enhance and extend outdoor and indoor living spaces, providing homeowners with functional and comfortable areas for relaxation, dining, and entertaining. For instance, in January 2023, according to the Joint Center for Housing Centers of Harvard University, a US-based university research center, the expenditure on home improvement projects is expected to increase from $472 billion in 2022 to $485 billion in 2024. Therefore, the increasing focus on space optimization and home renovation is driving the growth of the folding furniture market.
Market Trends –
Major companies operating in the folding furniture market focus on advanced designs such as smart and fancy foldable racing sim cockpit chairs to provide a realistic racing experience while compact and easy to store. Smart and fancy foldable racing simulator cockpit chairs are seating solutions designed exclusively for racing simulation fans. They are connected with technology and provide the ease of quick storage and mobility without sacrificing stability or durability during usage. For instance, in September 2023, Logitech G, a Switzerland-based company, with Playseat, a Netherlands-based manufacturer of gaming seats, launched Playseat Challenge X. It integrates ergonomic design with foldable functionality, allowing for easy storage and setup. The chair’s structure is lightweight, foldable carbon steel, and weighs only 11.6 kg (26 pounds). The seat features Playseat’s ActiFit breathable material, body-conforming design, and adjustable stiffness. This provides greater support and thermal management, helping racers remain comfortable.
The folding furniture market covered in this report is segmented –
1) By Product Type: Chairs, Tables, Sofas, Beds, Other Product Types
2) By Material: Wood, Metal, Plastic
3) By Distribution Channel: Offline, Online
4) By Application: Residential, Commercial
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Regional Insights –
Asia-Pacific was the largest region in the folding furniture market in 2023. The regions covered in the folding furniture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the folding furniture market are Samsonite Corporation, Herman Miller Inc., Raymour & Flanigan, Haworth Inc., Dorel Industries, Lifetime Products Inc., Hooker Furnishings Corporation, Sauder Woodworking Co., Hussey Seating Company, Urban Ladder, National Public Seating, Resource Furniture, MECO Corp., Eurosteel Office Furniture, Murphy Wall Beds Hardware Inc., Gopak, CoscoProducts.com, Expand Furniture, Flexfurn, Nilkamal Furniture, Spec Seats
Table of Contents
1. Executive Summary
2. Folding Furniture Market Report Structure
3. Folding Furniture Market Trends And Strategies
4. Folding Furniture Market – Macro Economic Scenario
5. Folding Furniture Market Size And Growth
…..
27. Folding Furniture Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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