Folding Furniture Market by Type (Table, Sofa, Chair, Bed, and Others), Application (Commercial and Residential),Distribution Channel (Offline and Online), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size,Trends, and Forecast 2023 – 2031
Folding Furniture Market Outlook 2031
The global folding furniture market size was USD 10.32 Bn in 2022 and is likely to reach USD 15.74 Bn by 2031, expanding at a CAGR of 4.8% during 2023–2031. The market growth is attributed to the rising disposable income and increasing demand for flexible furniture solutions.
Growing technological advancements is anticipated to significantly boost the folding furniture market. Rising demand for multi functionality furniture leads to innovation in furniture design that allows for easy transformation such as beds into sofas or tables.
Folding furniture is a clever solution for maximizing space efficiency in homes, which allows for an open and functional environment. This category includes a variety of items such as chairs, beds, and desks that are connected with hinges or joints to provide convenient storage and transportation.Rising adoption of folding furniture across diverse commercial settings such as hospitals, offices, hotels, and even within industrial sectors.
The market report finds that the COVID-19 pandemic hampered the folding furniture market. Lockdowns, travel restrictions, and other measures were implemented to control the spread of the virus, which disrupted global supply chains. This delayed the production and delivery of folding furniture, thus hampering the businesses of manufacturers and retailers. During and post-COVID, consumers were hesitant to visit crowded spaces thus surging online shopping. E-commerce platforms became the primary channel for purchasing folding furniture which encouraged manufacturers to strengthen their online presence.
Folding Furniture Market Dynamics
Major Drivers
Rising demand for low-maintenance interior items drives the market. Folding furniture stands out as an excellent choice for individuals who seeking space-saving, budget-friendly, and easy-to-care-for furnishing options. Consumers increasingly prioritize furniture that is hassle-free to assemble, clean, and maintain. Folding furniture perfectly aligns with these preferences by offering rapid assembly & disassembly, portability, and minimal maintenance. This trend is further fueled by the growing popularity of compact living spaces, where folding furniture can be conveniently stored away and creating room for other activities.
Existing Restraints
Fluctuations in raw material prices hamper the folding furniture market. Raw materials such as metals, wood, plastics, and textiles, are the fundamental components used in manufacturing folding furniture. When the prices of these materials fluctuate, they directly affect the production costs. A sudden increase in prices leads to the high production expenses of manufacturers.
Emerging Opportunities
Increasing construction activities creates lucrative opportunities for the folding furniture market. Space constraints become more prevalent with the rise in urbanization and population density. Folding furniture provides a practical solution for smaller living spaces, making it an attractive choice for newly constructed apartments, condos, and homes. Modern architecture and interior design often emphasize sleek, minimalist aesthetics. Folding furniture complement this trend, as it can be designed with clean lines and modern finishes, which aligns perfectly with the design principles of newly constructed spaces. For instance,
-
As per the recent data published, the global construction industry had a total value of USD 6.4 trillion in 2020, and it is anticipated to grow to USD 14.4 trillion by 2030.
Scope of the Folding Furniture Market Report
The market report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Folding Furniture Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2022 |
Historic Data |
2016–2021 |
Forecast Period |
2023–2031 |
Segmentation |
Type (Table, Sofa, Chair, Bed, and Others), Application (Commercial and Residential), and Distribution Channel (Offline and Online), |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, MarketTrends, and Revenue Forecast |
Key Players Covered in the Report |
Ashley Furniture International; Dorel Industries; Expand Furniture Inc; Flexsteel Industries Inc.; Haworth Inc.; Hussy Seating Company; Inter IKEA Systems B.V.; Maxchief Europe; and Murphy Wall Beds Hardware Inc. |
Market Segment Insights
Type Segment Analysis
Based on type, the folding furniture market is divided into table, sofa, chair, bed, and others. The sofa segment is expected to holda dominant share of the market during the projection period, due to, growing consumer demand for space-saving furnishings. Sofas are typically the center piece of any living room. They serve as a focal point for socializing, relaxation, and entertainment.
Consumers place a high importance on selecting sofas that offer comfort and complement the over all aesthetic of their living spaces. Folding sofa sets offer a creative solution for maximizing space utilization. Additionally, the rising trend toward foldable couches that can transform into beds is projected to further drive their adoption.
The chair segment is expected to expand at a significant growth rate in the coming years, as it provides versatility and increasing demand for space-efficient products. Folding chairs are incredibly versatile and serve a multitude of purposes. They can be easily transported and set up, which makes them ideal for outdoor events, travel, and additional seating in various settings. A major advantage of folding chairs is their ability to be compactly folded and stored when not in use. This space-saving feature is highly attractive, particularly for those with limited living or storage space.
Application Segment Analysis
On the basis of application, the global market is segregated into commercial and residential. The residential segment is projected to register a high CAGR during the forecast period due to changing living arrangements and a growing number of relocation activities.
The evolving dynamics of modern living, there's an increasing demand for flexible and adaptable furniture solutions. Folding furniture aligns perfectly with the needs of residential spaces. Nowadays mobility is valued, especially among youth professionals and students, folding furniture offers a practical solution. This furniture's portability and ease of assembly make it a favored choice for those who frequently relocate.
Distribution Channel Segment Analysis
On the basis of distribution channel,the folding furniture market is segmented into offline and online. The offline is anticipated to register a robust growth during the forecast period,as it provides a tangible shopping experience and a wide variety of choices.
Offline stores provide consumers with a physical, hands-on shopping experience. This allows them to assess its quality and visualize the fit of folding furniture into their living space. Such tangible experiences can greatly influence customer purchasing decisions. Offline retail stores offer a diverse range of folding furniture options. This variety allows consumers to explore different styles, materials, and designs, ensuring they find furniture that suits their specific preferences and needs.
The online segment is anticipated to gain significant revenue share in the coming years due to increasing smartphone adoption and rising customer demand for convenience.Increasing number of smartphone users and easy access to the internet, consumers have the ability to browse, compare, and shop for folding furniture products online conveniently. Customers can purchase from the comfort of their homes which eliminates the need for physical travel to stores.
Manufacturers provide online delivery services, flexible payment options, and doorstep delivery drives the demand for folding furniture products.This in turn, increase the use of online platforms for the purchasing of furniture, especially folding furniture. For instance,
-
According to a recent data, the number of smartphone users is expected to increase and reach around 496.7 millionfrom 2024 to 2028.
Regional Outlook
In terms of region, the global folding furniture market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to dominate the market during the projection period due to the growing population and rising urbanization.
Asia Pacific is home to diverse population. This demographic factor alone creates a high demand for various types of furniture, including foldable furniture, to cater to different living situations and preferences.The ongoing trend of urbanization in emerging economies such as India, China, and countries in South Asia, which has surged the demand for space-saving furniture solutions. Cities are becoming more crowded and living spaces compact, which increases the need for furniture that maximizes space utilization. For instance,
-
According to a recent data, the urban population in Asia accounted for around 51% of the total population in 2020, and it is projected to increase to more than 66% by the year 2050.
The market in North America is projected to grow rapidly during the forecast period, owing to the due to high disposable income and growing number of technological innovations.North America, which includes the USand Canada, is known for its high standard of living and affluent population. The high disposable income translates into a strong consumer base with the purchasing power to invest in various types of furniture including innovative foldable options.The region is known for its innovation and technological advancements,which has improved foldable furniture designs and materials, which makes them appealing and a functional choice for consumers.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Folding Furniture Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Folding Furniture Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Folding Furniture Market - Supply Chain
4.5. Global Folding Furniture Market Forecast
4.5.1. Folding Furniture Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Folding Furniture Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Folding Furniture Market Absolute $ Opportunity
5. Global Folding Furniture Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Folding Furniture Market Size and Volume Forecast by Types
5.3.1. Table
5.3.2. Sofa
5.3.3. Chair
5.3.4. Bed
5.3.5. Others
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Folding Furniture Market Analysis and Forecast by Applications
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Applications
6.2.2. Y-o-Y Growth Projections by Applications
6.3. Folding Furniture Market Size and Volume Forecast by Applications
6.3.1. Commercial
6.3.2. Residential
6.4. Absolute $ Opportunity Assessment by Applications
6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Folding Furniture Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Folding Furniture Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Folding Furniture Demand Share Forecast, 2019-2026
8. North America Folding Furniture Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Folding Furniture Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Folding Furniture Market Size and Volume Forecast by Types
8.4.1. Table
8.4.2. Sofa
8.4.3. Chair
8.4.4. Bed
8.4.5. Others
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. North America Folding Furniture Market Size and Volume Forecast by Applications
8.7.1. Commercial
8.7.2. Residential
8.8. Basis Point Share (BPS) Analysis by Applications
8.9. Y-o-Y Growth Projections by Applications
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Folding Furniture Demand Share Forecast, 2019-2026
9. Latin America Folding Furniture Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Folding Furniture Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Folding Furniture Market Size and Volume Forecast by Types
9.4.1. Table
9.4.2. Sofa
9.4.3. Chair
9.4.4. Bed
9.4.5. Others
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Latin America Folding Furniture Market Size and Volume Forecast by Applications
9.7.1. Commercial
9.7.2. Residential
9.8. Basis Point Share (BPS) Analysis by Applications
9.9. Y-o-Y Growth Projections by Applications
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Folding Furniture Demand Share Forecast, 2019-2026
10. Europe Folding Furniture Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Folding Furniture Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Folding Furniture Market Size and Volume Forecast by Types
10.4.1. Table
10.4.2. Sofa
10.4.3. Chair
10.4.4. Bed
10.4.5. Others
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Europe Folding Furniture Market Size and Volume Forecast by Applications
10.7.1. Commercial
10.7.2. Residential
10.8. Basis Point Share (BPS) Analysis by Applications
10.9. Y-o-Y Growth Projections by Applications
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Folding Furniture Demand Share Forecast, 2019-2026
11. Asia Pacific Folding Furniture Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Folding Furniture Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Folding Furniture Market Size and Volume Forecast by Types
11.4.1. Table
11.4.2. Sofa
11.4.3. Chair
11.4.4. Bed
11.4.5. Others
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Asia Pacific Folding Furniture Market Size and Volume Forecast by Applications
11.7.1. Commercial
11.7.2. Residential
11.8. Basis Point Share (BPS) Analysis by Applications
11.9. Y-o-Y Growth Projections by Applications
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Folding Furniture Demand Share Forecast, 2019-2026
12. Middle East & Africa Folding Furniture Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Folding Furniture Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Folding Furniture Market Size and Volume Forecast by Types
12.4.1. Table
12.4.2. Sofa
12.4.3. Chair
12.4.4. Bed
12.4.5. Others
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Middle East & Africa Folding Furniture Market Size and Volume Forecast by Applications
12.7.1. Commercial
12.7.2. Residential
12.8. Basis Point Share (BPS) Analysis by Applications
12.9. Y-o-Y Growth Projections by Applications
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Folding Furniture Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Folding Furniture Market: Market Share Analysis
13.2. Folding Furniture Distributors and Customers
13.3. Folding Furniture Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. Ashley Furniture International
13.4.2. Dorel Industries
13.4.3. Expand Furniture Inc
13.4.4. Flexsteel Industries Inc.
13.4.5. Haworth Inc.
13.4.6. Hussy Seating Company
13.4.7. Inter IKEA Systems B.V.
13.4.8. Maxchief Europe
13.4.9. Murphy Wall Beds Hardware Inc