Folding Furniture Market: CAGR of 5.8% from 2018 to 2023 | Industry Trends, Business Revenue Forecast and Statistics

Market Highlights
Folding furniture is an effective alternative for traditional furniture. This furniture is generally used in places such as offices, hospitals, and hotels. The increase in the private non-residential spending and the public non-residential spending, is also expected to contribute to the growth of the market. Additionally, innovative product offerings that are light-weight, easy to tuck in, aesthetically appealing, and ergonomically contoured also increase the demand of the market. However, fluctuating prices of raw material may restrict the growth of the market.

The Global Folding Furniture Market, expected to grow at a CAGR of 5.8% during the forecast period.

Market Research Analysis
For the purpose of this study, the global folding furniture market has been segmented based on products, and applications. On the basis of product, the market has been segmented as chairs, tables, sofas, beds, and other furniture. Among products, sofa accounted for the largest market share. A sofa is the most popular product type as it enhances the décor of the living room. Foldable beds segment is expected grow at the highest CAGR during the forecast period. Growing adoption of co-living trend in the US, and various bed designs such as murphy beds, wall beds, would raise the demand in near future.

On the basis of applications, the market has been segmented as residential and non-residential. Residential sector dominates the application segment of the market and is expected to grow at the highest CAGR during the forecast period. Increasing residential construction across the globe increases the demand of the market. Non-residential segment is the second largest application segment of the market. Non-residential application segment is expected to contribute significantly during the forecast period. Folding furniture is installed in numerous sub-applications within the non-residential construction sector such as corporate offices, healthcare centers, and educational institutions. It is also installed in Cafeterias, and hotels.

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Key Players
• Resource Furniture (U.S.),
• Expand Furniture (Canada),
• Meco Corporation (U.S),
• Ashley Furniture Industries Inc. (U.S.),
• IKEA Systems B.V. (Sweden),
• Murphy Bed (U.S.),
• La-Z-Boy Incorporated (U.S.),
• Flexfurn Ltd (Belgium),
• Gopak Ltd (U.K.),
• Nilkamal Limited (India).,
• Leggett & Platt, Inc. (U.S.),
• Dorel Industries Inc. (Canada).

Asia Pacific region dominates the global folding furniture market
Geographically, the global folding furniture market has been divided into the four major regions of North America, Europe, Asia Pacific and Rest of the World. Asia Pacific region has accounted for the largest market share, in 2016, followed by Europe and North America. It is expected to grow at the highest CAGR during the forecast period. China, Japan, India, and Singapore are the major markets in Asia Pacific region. Growing residential and non-residential construction activities in the region, are driving the growth of the market. Additionally increase in industrialization and urbanization, also have a positive influence on the growth of the market. For example, in Beijing, the average living area for per person is only 21 square meters. Therefore, foldable furniture is the best suitable option to solve the space problem. Europe is the second-largest market for folding furniture. Growing population and smaller living areas in region, are governing the growth of the market. Additionally, increasing repair and rehabilitation activities of existing infrastructure and interiors, hold huge potential for the market in coming years.

Table of Content
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations

2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model

3 Market Landscape
3.1 Porter’s Five Forces Analysis
Continue……

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