Folding Furniture Market Size, Share, Comprehensive Analysis, Opportunity Assessment by 2030

Rising Demand for Portable, Multifunctional, and Space-Saving Furniture

According to our latest market study on "Folding Furniture Market Forecast to 2030 - COVID-19 Impact and Global Analysis - by Product Type, Material, Application, and Distribution Channel," the folding furniture market size is projected to grow from US$ 3,276.05 million in 2022 to US$ 5,761.03 million by 2030; the market is expected to grow at a CAGR of 7.6% from 2023 to 2030. The report highlights key factors driving the market and prominent players along with their developments in the market.

Folding furniture can save space as it can attain different configurations when it is in use and when it is not in use; it can be compacted in a small-sized room or apartment. In addition, folding furniture has lightweight and easily deployable structures that can be transformed into various configurations easily and effectively. Hence, the demand for folding furniture is quite high among consumers. With rapid advancements backed by strong research activities and rising consumer demand for aesthetics and comfort, manufacturers are developing innovative concepts such as paper folding furniture and pop-up architecture-based furniture. Folding furniture often incorporates multifunctional designs, combining multiple uses in a single piece. For instance, a folding table can be used as a dining table, work desk, or even storage unit when not in use. This versatility appeals to consumers seeking furniture that can adapt to various needs and spaces, reducing the need for multiple pieces of furniture.

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Impact of COVID-19 Pandemic on Folding Furniture Market
The consumer goods industry suffered severe disruptions due to disturbances in supply chains and shutdowns of production plants amid the COVID-19 pandemic. The shuttering of various banks, manufacturing plants, and factories in regions such as North America, Europe, Asia Pacific, South America, and the Middle East & Africa had further ill effects on supply chains, manufacturing, delivery schedules, and sales. Many businesses announced possible delays in product deliveries and slumps in their future sales. Thus, with suspended operations in various industries, the demand for folding furniture decreased during the pandemic which negatively impacted the folding furniture market growth.

In 2021, various economies resumed their operations as different country governments announced relaxations in the previously imposed restrictions, which, in turn, bolstered the folding furniture market. Moreover, manufacturers were permitted to operate at full capacities, which helped them overcome the demand and supply gaps. All these factors have been favoring the growth of the folding furniture market in the post-pandemic recovery period.

The report includes the segmentation of the folding furniture market as follows:

Based on product type, the folding furniture market is segmented into tables, chairs, sofas & beds, and others. On the basis of material, the market is divided into wood, metal, and plastic. Based on application, the folding furniture market is segmented into residential, commercial, and others. By geography, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The folding furniture market in North America is further segmented into the US, Canada, and Mexico. The European market is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The folding furniture market in Asia Pacific is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the MEA is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The folding furniture market in South & Central America market is categorized into Brazil, Argentina, and the Rest of South & Central America.

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This release was published on openPR.