Folding Furniture Market with Competitive Analysis, Top Key Players, Market Growth, Opportunity, Trends, Service, Forecast To 2027

The Insight Partners has added Latest Report on "Folding Furniture Market Forecast to 2027 - COVID-19 Impact and Global Analysis - by Product Type (Table and Chair, Sofas, Beds, Table TV Trays, and Others), Application (Residential and Commercial ), Material (Wood, Metal, Plastic, and Others), and Distribution Channel (Store-Based and Non Store-Based)," the market was valued at US$ 3,070.80 million in 2019 and is projected to reach US$ 4,754.29 million by 2027; it is expected to grow at a CAGR of 5.7% from 2020 to 2027. The report highlights key factors driving the market growth and prominent players along with their developments in the market.

Folding furniture promotes portability and space saving and, thus, is essential for modern living. Besides being space-saving option, folding furniture are quite flexible and possess the capability to be folded, compact in flat or a small size. In general, folding furniture are counted under lightweight and easily deployable structures that possess an ability to get transformed between various configurations in easy and effective manner. Hence, the demand for such form of furniture is quite high amongst consumers. With the rapid advancement backed by strong research activities and rising consumer demand for aesthetic and comfortability, manufacturers are coming up with innovative concepts such as paper folding furniture, furniture involving pop up architectures, and others. Such type of furniture has been designed to suit consumer aesthetic framework and comfortability.

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The Prominent/Emerging Players in the Folding Furniture Market includes:

• Ashley Furniture Industries
• Bush Industries, Inc.
• Haworth, Inc.
• DOREL INDUSTRIES INC.
• Inter IKEA Holding B.V.
• La-Z-Boy, Inc.
• Meco Corporation
• Sauder Woodworking Company
• Atlas Industries
• Table-Mate USA, LLC

The demand for folding furniture is rising with rapid urbanization coupled with significant growth in residential sector and rapid advancement related to folding furniture. Folding furniture such as chairs, tables, sofas, beds, table trays, and others are quite popular among both residential and commercial customers.

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With rising disposable income, shift in lifestyle, and rising trend towards the adoption of folding furniture, consumers are looking out for inspiring design for folding furniture which exudes relaxation, luxury, and comfort. It is attributable to the versatility, functionality, and style of the furniture developed, which has led to increased adoption of such furniture.

The COVID-19 outbreak was first reported in Wuhan (China) in December 2019. As of February 2021, the US, India, Brazil, Russia, the UK, France, Spain, Italy, Turkey, Germany, Colombia, and Argentina are among the worst affected countries in terms of confirmed cases and reported deaths. According to the latest WHO figures, there are around 104,370,550 confirmed cases and 2,271,180 total deaths globally. The outbreak has adversely affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The consumer goods industry is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns.

The shutdown of various plants and factories in leading regions such as North America, Europe, Asia Pacific, South America, and the Middle East and Africa is restricting the global supply chain and hindering manufacturing activities, delivery schedules, and various goods sales. Furthermore, various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are hampering the business collaborations and partnerships opportunities. All these factors are restraining the growth of various markets related to the consumer goods industry.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

This release was published on openPR.