Global Folding Furniture Market is valued at USD 4129.66 Million in 2021 and expected to reach USD 6618.33 Million by 2028 with the CAGR of 6.97% over the forecast period
Global Folding Furniture Market applies the most effective of each primary and secondary analysis to weighs upon the competitive landscape and also the outstanding market players expected to dominate Global Folding Furniture Market place for the forecast 2021– 2027.
The adoption of the furniture which is foldable is seeing a rise in the countries which are more populous in the world like Delhi, New York, Tokyo and Beijing due to the increase in smaller number of homes. This type of furniture takes the economy of space into account and that is the reason why its popularity has been expected to rise in the consumers in the period of forecast. The rapid levels of urbanization and the trend of co-working have been responsible in the United States for the growth of this market. Further, there is a growth of real estate in the market which is influencing the global foldable furniture market. In the United States, there is also a growing trend of the millennials opting for the apartments which are a lot more affordable and also multifunctional and this market of folding furniture caters to this very class of people who live in an urbanized and dynamic way.
The global market of foldable furniture and their manufacturers are attempting to cater to the ways of life for the consumers in metropolitan cities and have been looking to add a lot more features which make folding furniture a lot more attractive. For catering to the needs of the consumers who are transforming from working to living mode, the players of the global foldable furniture market are expanding their portfolios too. The offerings in the market are a lot more focused at being lighter in weight and appealing in terms of their aesthetics as well as contoured ergonomically and are therefore supplementing this growth in the market of folding furniture. The global foldable furniture market has been expected to see a growth at a good level in the period of forecast.
The global foldable furniture market has been analyzed on the basis of application, product type as well as the distribution channel. On the basis of product type, the global foldable furniture market has been classified into tables, sofas, chairs, beds as well as the other furniture. The segment of application is consisting of the foldable furniture is sold through the channels online and offline. Furthermore, the global foldable furniture market has been analyzed in terms of region as Europe, Latin America and Middle East and Africa, North America along with Asia Pacific.
It has been observed that a lot of young people are moving to the larger cities in search of better opportunities. This is a phenomenon which is decreasing the average available are gradually. This is bringing about a transformation in the furniture world and making it best suitable for these problems. Cities such as Beijing have a higher level of potential of growth for this market. Another major factor which drives the growth is the decrease in average space of living and an increase in the space which is available specifically in the options of Karachi, Kolkata Shenzhen and Mumbai along with more cities which have a high potential of growth.
Folding Furniture Market by Regional Analysis
• Rest of Europe
• South Korea
• Rest Of APAC
• Rest of South America
Middle East and Africa
• Saudi Arabia
• South Africa
• Rest Of MEA
The manufacturers have been making the efforts for innovating products of furniture which pertain to the needs of the consumers. The companies have been looking at markets of India and China for the shares of the global foldable furniture market and the manufacturers like IKEA have been planning on opening their stores in India and increasing their distribution network in China. There is a growth in the raw materials in the global foldable furniture market too in recent years and that has been reducing the costs of the market which is making it more and more affordable and enhancing the growth in the recent years. The price of high fibres as well as foams has been hampering the growth in the global foldable furniture market.