Global Folding Furniture Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

"Global Folding Furniture Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027" report has been recently generated by MarketResearch.biz, and offers in-depth insights, revenue details, and other vital information regarding the global folding furniture market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global folding furniture market report has been segmented on the basis of product, distribution channel, application, and region.

This report is based on synthesis, analysis, and interpretation of information gathered from various sources regarding the target market. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts, with the primary objective being to provide a holistic view of the target market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as current impact, in order to make informed forecasts about the scenarios in the near and distant future.

Folding furniture, also known as foldable furniture, includes furniture that can be folded into a shape or position and utilizes less space. It acts as an alternative to traditional furniture and takes very little space when not used and it becomes as functional and great as any other type of furniture.  With a combination of portable, lightweight and easily storable qualities of the product have created high demand among people and plays an important role for small spaces or studio apartments. For residential or commercial complexes, lacking space or requiring space for multitude of different uses, folding furniture offer a much-needed solution.

Growing demand for folding furniture is expected to remain high over the forecast period, as it is an effective alternative for traditional furniture. Rising growth in home furniture along with increasing online purchase of folding furniture is estimated to bolster growth of folding furniture market. In addition, urbanization, increasing disposable income among the people, development of innovative products such as wall bed, bookshelves that transform into beds, coffee tables that convert into dining tables etc., are some of the major factors contributing to growth of the global folding furniture market. Recent trend shows that manufacturers are focusing more on bookniture which is a compact furniture hidden in a book owing to ease of accessibility, compact size etc. This furniture is designed to look as small notebook and can be unfolded into a footrest, standing desk, and portable side table. However, the high cost of raw materials has always been a challenge and imposes a threat to growth of the global market.

Based on region, Asia Pacific market is the largest contributor to growth of the global folding furniture market, owing to rapidly growing furniture demand in China. Rising growth of real estate sector along with rising urban population has strengthened growth of the region over the past few years. Furthermore, increasing number of residential and commercial buildings especially in developing regions is projected to expand growth of folding furniture market in upcoming period.

According to the US Bureau of Economic Analysis (BEA), US furniture market was worth US$ 114 Bn in 2016. Also, growth in consumer spending on furniture has softened considerably in 2017, averaging 2.5% year over year.

According to the National Association of Realtors, performance of the residential property market has a major impact on furniture sales, and existing home sales growth has been increasing.

Global Folding Furniture Market segmentation:

Segmentation by Product type:

• Chairs
• Tables
• Beds
• Other Furniture (Sofa, Ladder)

Segmentation by Distribution Channel:

• Online
• Offline

Segmentation by Application:

• Residential
• Commercial

Segmentation by Region:

• North America
• Latin America
• Asia Pacific
• Europe
• Middle East & Africa