According to study, “Global Folding Furniture Market Size study, by Type (Chair, Table, Sofa, Bed, Other Furniture), by End-user (Residential, Commercial) and Regional Forecasts 2018-2025” some of the major companies that are currently working in the global folding furniture market areInter Ikea Systems B.V.,Dorel Industries Inc., Leggett & Platt Inc., A-Z-Boy, Hussey Seatings, BBMG Tiantan Furniture, Lifetime Products Inc., Flexsteel Industries, Sauder Woodworking, Bush Industries Inc., Nilkamal Ltd., Resource Furniture, Maxchief Eur et al, KI, RUKU Klappmobel, Home Depot Inc., Gopak Ltd., Ashley Furniture Industries,Haworth Inc.,Murphy Wall Beds Hardware Inc., Qumei, Expand Furniture, Meco Corporation, Quanyou.
Foldable furniture consists of the furniture which can be folded into a position or shape that utilize comparatively less space. The foldable furniture is largely used for an enormous option for the small spaces. It takes very tiny space when not used and it becomes as well-designed and great as any other style of furniture. The foldable furniture includes different type of instances such as folding table, folding chair, etc. The furniture is available in a varied cost ranges. The furniture can be ordered online followed by the advantages of being convenient to handle, versatile and flexibility.
Based on type, global folding furniture market is segmented into bedroom furniture, living room furniture, office furniture and others. Based on product type, market is segmented into folding table, folding bed, folding sofa, Folding shower bench, folding chair and other furniture. Sofa is used a most trendy product as adds the decor of the living room & accounts for approximately 3/5th of the total folding furniture profits. In addition, foldable beds are registering higher demand due to adoption of co living trend in the U.S. and the innovation in bed designs like wall beds, murphy beds that would bring significant demand in near future. Additionally, based on the distribution channel, market can be segmented into offline channel and online channel. In addition, based on the end-user, market include commercial and residential.
The folding furniture demand is driven by rapid pace of urbanization. Some of the other driven factors include rising number of smaller homes, rising number of environmental regulations, growth in real estate market with the growing demand of the multifunctional furniture. On the other hand, as one of the key restraining factors of the market fluctuating the raw material cost.
Globally, the Asia-Pacific region holds the prevalent market share due to growth in population and the smaller living areas. China, India, Japan, and Singapore hold the significant share in the overall market. North American region is also expected to register the higher growth rate due to boost in demand of low preservation interior products. Additionally, the European region furniture space is provided by the region’s finest interior designers is gaining the prominence across also refer to space savors. In addition, the Middle East & Brazil are anticipated to contribute significantly as per the predicted period owing to change in lifestyle, lack of space with rise of the hotels across these regions.
It is expected that the global folding furniture market to reach at US $15.5 billion by 2025. Furthermore, the demand of the furniture is estimated to register high over the projected period due to an effective choice for the traditional furniture.
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Ankur Gupta, Head Marketing & Communications