Folding Furniture Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR (2024 - 2029) | 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Folding Furniture Market Analysis
The Global Folding Furniture Market is expected to register a CAGR of greater than 5% during the forecast period.
The folding furniture market is expected to grow at a CAGR of 5% in the forecasted period.
The sudden outbreak of the COVID-19 pandemic, which hit the world during the initial days of 2020, changed the face of the furniture industry on a large scale. The disruptions in the supply chain and the temporary ban on global trade have highly affected countries with high dependencies on imports for their furniture needs. The pandemic forced around 58% of the world's population to switch to the stay-at-home protocol for a longer time, which motivated customers to optimize their homes and furniture with the increase in the time they spend at home. COVID-19 also heightened the importance of reducing the reliance on imports, along with improving automation and digitalization in the industry.
Folding furniture is a suitable option for people living in smaller places or studio apartments. It is an effective alternative to traditional furniture. Additionally, the multi-functionality 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, hospitals, and hotels. The adoption of folding furniture is rising in the most populous cities of the world, owing to an increase in the number of smaller homes.
Considering the economy of space, their demand is projected to increase, and they are expected to gain popularity among customers during the forecast period. Rapid urbanization and growth in the real estate market influence the folding furniture industry. Millennials opting for rented apartments is a rising trend that has been observed. They are more interested in affordable, multi-functional, and smaller furniture that suits their urban and dynamic lifestyles.
Manufacturers of folding furniture are trying to cater to the metropolitan ways of life of the consumers and are trying to add more appealing features to their products. In order to cater to the needs of consumers seeking furniture that can enable easy transformation from work mode to living mode, market players are widening their product portfolios. Their furniture offerings are now more focused on being lightweight, easy to tuck in, aesthetically appealing, and scientifically contoured, thus supplementing the growth of the folding furniture market.
Folding Furniture Market Trends
The Residential Application Dominates the Market
By application, the folding furniture market has been segmented into residential and commercial. The residential segment dominated the market with a 62% share last year. It includes the use of kitchens and dining rooms, living rooms, bedrooms, and outdoor areas. These factors are driving the demand in the market. The increasing residential construction activities across the world are driving the market growth of the segment. The commercial segment is expected to contribute significantly to the market studied during the forecast period. Folding furniture is installed in numerous sub-applications within the commercial construction sector, such as corporate offices, healthcare centers, and educational institutions. They are also installed in cafeterias and hotels.
Asia-Pacific is Expected to Grow at a Fast Pace
A significant number of 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, the folding furniture is the best suitable option. Cities like Beijing (China) possess high growth potential for the market. Urbanization is another factor that drives the growth of the folding furniture market, as it decreases the average living space and increases the value of available limited space, thereby making folding furniture the most suited option. Mumbai, Kolkata, Karachi, and Shenzhen are other cities that possess high growth potential. The increasing residential and non-residential construction activities in the region are driving the growth of the market.
North America and Europe are also major regions for the folding furniture market. The increasing demand for low-maintenance interior products is driving the growth of the market in these regions.
Folding Furniture Industry Overview
The market is highly fragmented. The report covers major international players operating in the folding furniture market. The market is dominated by players such as IKEA, Ashley Furniture Industries Inc., Leggett & Platt Inc., and Dorel Industries Inc., among others. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping into new markets.
Folding Furniture Market Leaders
-
Hussey Seating Company
-
Maxchief Europe
-
Ashley Furniture Industries Inc.
-
Leggett & Platt Inc.
-
Dorel Industries Inc.
*Disclaimer: Major Players sorted in no particular order
Folding Furniture Market News
- Apr 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.
- Feb 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 the expansion of the Ashley brand in Mexico.
Folding Furniture Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
- 4.4 Value Chain Analysis
-
4.5 Porter's Five Forces Analysis
- 4.5.1 Threat of New Entrants
- 4.5.2 Bargaining Power of Buyers
- 4.5.3 Bargaining Power of Suppliers
- 4.5.4 Threat of Substitutes
- 4.5.5 Intensity of Competitive Rivalry
- 4.6 Insights into Technological Advancements in the Industry
- 4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
-
5.1 Type
- 5.1.1 Chairs
- 5.1.2 Tables
- 5.1.3 Sofas
- 5.1.4 Beds
- 5.1.5 Other Furniture
-
5.2 Application
- 5.2.1 Residential
- 5.2.2 Commercial
-
5.3 Distribution Channel
- 5.3.1 Specialty Stores
- 5.3.2 Supermarkets/Hypermarkets
- 5.3.3 Online Channels
- 5.3.4 Other Distribution Channels
-
5.4 Geography
- 5.4.1 North America
- 5.4.2 Europe
- 5.4.3 Asia-Pacific
- 5.4.4 South America
- 5.4.5 Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Market Concentration Overview
-
6.2 Company Profiles
- 6.2.1 IKEA
- 6.2.2 Ashley Furniture Industries Inc.
- 6.2.3 Leggett & Platt Inc.
- 6.2.4 Dorel Industries Inc.
- 6.2.5 Haworth Inc.
- 6.2.6 Expand Furniture
- 6.2.7 Murphy Wall Beds Hardware Inc.
- 6.2.8 Flexsteel Industries Inc.
- 6.2.9 Maxchief Europe
- 6.2.10 Hussey Seating Company*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
** Subject To AvailablityFolding Furniture Industry Segmentation
Folding Furniture can be folded into a shape or position that uses less space like a folding chair/table. The report covers a complete background analysis of the folding furniture market, which includes an assessment of the parental market, emerging trends by segments and regional markets, significant changes in market dynamics, and a market overview. The report also features qualitative and quantitative assessments by analyzing the data gathered from industry analysts and market participants across key points in the industry's value chain.
The Folding Furniture Market is segmented by Type (Chairs, Tables, Sofas, Beds, and Other Furniture), Application (Residential and Commercial), Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Online, and Other Distribution Channels), and Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa). The market sizes and forecasts are provided in terms of value (USD billion) for all the above segments.
| Type | Chairs |
| Tables | |
| Sofas | |
| Beds | |
| Other Furniture | |
| Application | Residential |
| Commercial | |
| Distribution Channel | Specialty Stores |
| Supermarkets/Hypermarkets | |
| Online Channels | |
| Other Distribution Channels | |
| Geography | North America |
| Europe | |
| Asia-Pacific | |
| South America | |
| Middle-East and Africa |
Folding Furniture Market Research FAQs
What is the current Global Folding Furniture Market size?
The Global Folding Furniture Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Global Folding Furniture Market?
Hussey Seating Company, Maxchief Europe, Ashley Furniture Industries Inc., Leggett & Platt Inc. and Dorel Industries Inc. are the major companies operating in the Global Folding Furniture Market.
Which is the fastest growing region in Global Folding Furniture Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Folding Furniture Market?
In 2024, the North America accounts for the largest market share in Global Folding Furniture Market.
What years does this Global Folding Furniture Market cover?
The report covers the Global Folding Furniture Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Global Folding Furniture Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Folding Furniture Industry Report
Statistics for the 2023 Folding Furniture market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Folding Furniture analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
