Global Folding Furniture to See a Boost BY 2022 an In-Depth Industry Study of the Folding Furniture Market

Folding Furniture Market Report, published by Allied Market Research, forecast that the global market is expected to generate $13 billion by 2022, growing at a CAGR of 6.8% from 2016 to 2022. Asia-Pacific constituted largest market share in terms of revenue in the overall foldable furniture market in 2015, followed by Europe. Growth in Asia-Pacific is supplemented by rapid urbanization and need for efficient use of the available space.

The demand for folding furniture is expected to remain high during the forecast period as it is an effective alternative for traditional furniture. These furniture apart from being multifunctional and space saving also enhance the decor of available space. For residential or commercial complexes, lacking space or requiring space for multitude of different uses, folding furniture offer the much needed solution.

The folding furniture market is expected to grow at a higher pace in Asia-Pacific and Europe, pertaining to smaller home sizes and rising rents. The folding furniture industry in Asia-Pacific would be driven by the growth in population and smaller living areas. As for the European region, space saving furniture designed by Europe’s finest interior designers is gaining popularity across the world which is also referred as Space Savors. For instance, Italian designed small coffee table that expands into dinner table and a beautiful wall that spins 180 then gracefully unfolds into a queen-sized bed with the help of hydraulic mechanism. These innovations within the folding furniture market are expected to drive the Europe folding furniture market during the forecast period.

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The folding furniture market is segmented based on product type, application, and distribution channel. Among its key product types such as chairs, tables, sofas, beds, and other furniture, sofa is the most popular product type as it enhances the decor of the living room and accounts for around 3/5th of the total folding furniture revenue. The market for foldable beds would grow at the highest CAGR during the forecast period, owing to adoption of coliving trend in the US, and innovative bed designs such as murphy beds, wall beds which would fetch the demand in near future.

In 2015, it was observed that demand for folding furniture application for residential purpose was higher as compared to commercial use. The same trend is expected to continue during the forecast period.

Additionally, folding furniture is sold through offline and online sales channels. In 2015, offline channels accounted for around 78% of the overall market, with the online segment anticipated to witness a higher CAGR from 2016 to 2022. The growth of the online sales made would be driven by its benefits of convenience, and services such as free delivery and installation of the furniture.

Folding Furniture Market Key Findings:

• Asia-Pacific was the highest revenue-generating region in 2015
• In 2015, the sofas segment observed highest demand and is expected to continue to be the major revenue-generating segment throughout the forecast period.
• By application, residential segment is expected to continue to lead, in terms of revenue.
• Offline sales channels segment is projected to continue to be the major revenue-generating distribution channel throughout the forecast period.

Key players profiled in this report are Lifetime Products Inc., Meco Corporation, Dorel Industries, Expand Furniture, Ashley Furniture Industries Inc., La-Z-Boy, Inc., Leggett & Platt, Resource Furniture, IKEA, Haworth International, Ltd., and Murphy Bed Direct.

List of Tables:

TABLE 1. FOLDING FURNITURE MARKET BY PRODUCT TYPE, 2014-2022 ($MILLION)
TABLE 2. CHAIRS MARKET REVENUE BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 3. TABLES MARKET REVENUE BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 4. SOFAS MARKET REVENUE BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 5. BEDS MARKET REVENUE BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 6. OTHER FURNITURE MARKET REVENUE BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 7. FOLDING FURNITURE MARKET BY APPLICATION, 2014-2022 ($MILLION)
TABLE 8. FOLDING FURNITURE MARKET FOR RESIDENTIAL APPLICATION BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 9. FOLDING FURNITURE FOR COMMERCIAL APPLICATION BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 10. OFFLINE CHANNELS FOLDING FURNITURE MARKET REVENUE BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 11. ONFLINE CHANNEL FOLDING FURNITURE MARKET REVENUE BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 12. NORTH AMERICA: FOLDING FURNITURE BY PRODUCT TYPE, 2014-2022 ($MILLION)
TABLE 13. NORTH AMERICA: FOLDING FURNITURE BY APPLICATION, 2014-2022 ($MILLION)
TABLE 14. NORTH AMERICA: FOLDING FURNITURE MARKET BY DISTRIBUTION CHANNELS, 2014-2022 ($MILLION)
TABLE 15. EUROPE: FOLDING FURNITURE BY PRODUCT TYPE, 2014-2022 ($MILLION)
TABLE 16. EUROPE: FOLDING FURNITURE BY APPLICATION, 2014-2022 ($MILLION)
TABLE 17. EUROPE: FOLDING FURNITURE MARKET BY DISTRIBUTION CHANNELS, 2014-2022 ($MILLION)
TABLE 18. ASIA-PACIFIC: FOLDING FURNITURE BY PRODUCT TYPE, 2014-2022 ($MILLION)
TABLE 19. ASIA-PACIFIC: FOLDING FURNITURE BY APPLICATION, 2014-2022 ($MILLION)
TABLE 20. ASIA-PACIFIC: FOLDING FURNITURE MARKET BY DISTRIBUTION CHANNELS, 2014-2022 ($MILLION)
TABLE 21. LAMEA: FOLDING FURNITURE BY PRODUCT TYPE, 2014-2022 ($MILLION)
TABLE 22. LAMEA: FOLDING FURNITURE BY APPLICATION, 2014-2022 ($MILLION)
TABLE 23. LAMEA: FOLDING FURNITURE MARKET BY DISTRIBUTION CHANNELS, 2014-2022 ($MILLION)
TABLE 24. MECO CORPORATION: COMPANY SNAPSHOT
TABLE 25. MECO CORPORATION: OPERATING SEGMENTS
TABLE 26. DOREL INDUSTRIES INC.: COMPANY SNAPSHOT
TABLE 27. DOREL INDUSTRIES INC.: OPERATING SEGMENTS
TABLE 28. INTER IKEA SYSTEMS B.V.: COMPANY SNAPSHOT
TABLE 29. INTER IKEA SYSTEMS B.V.: OPERATING SEGMENTS
TABLE 30. SAUDER WOODWORKING COMPANY: COMPANY SNAPSHOT
TABLE 31. SAUDER WOODWORKING COMPANY: OPERATING SEGMENTS
TABLE 32. BUSH INDUSTRIES, INC.: COMPANY SNAPSHOT
TABLE 33. BUSH INDUSTRIES, INC.: OPERATING SEGMENTS
TABLE 34. HAWORTH INC.: COMPANY SNAPSHOT
TABLE 35. HAWORTH INC.: OPERATING SEGMENTS
TABLE 36. LIFETIME PRODUCTS INC.: COMPANY SNAPSHOT
TABLE 37. LIFETIME PRODUCTS INC.: OPERATING SEGMENTS
TABLE 38. RESOURCE FURNITURE: COMPANY SNAPSHOT
TABLE 39. RESOURCE FURNITURE: OPERATING SEGMENTS
TABLE 40. EXPAND FURNITURE: COMPANY SNAPSHOT
TABLE 41. EXPAND FURNITURE: OPERATING SEGMENTS
TABLE 42. MURPHY WALL BEDS HARDWARE INC.: COMPANY SNAPSHOT
TABLE 43. MURPHY WALL BEDS HARDWARE INC.: OPERATING SEGMENTS

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