“Global Folding Furniture Market to reach a market value of USD 5.8 Billion by 2030 growing at a CAGR of 6.2%”
The Global Folding Furniture Market size is expected to reach $5.8 billion by 2030, rising at a market growth of 6.2% CAGR during the forecast period. In the year 2022, the market attained a volume of 18,276.5 thousand units, experiencing a growth of 6.2% (2019-2022).
E-commerce enables consumers to shop for folding furniture anytime, offering 24/7 accessibility. This flexibility is particularly valuable for people with busy schedules who may not have the time to visit physical stores during regular business hours. Consequently, the online segment would generate approximately 31.93% Share of the market by 2030. E-commerce platforms host various folding furniture options from various brands and manufacturers. Consumers can explore a wide range of styles, designs, and functionalities, empowering them with more choices and the ability to find products that suit their preferences.
The incorporation of smart technologies has led to the development of intelligent folding furniture. Smart features may include built-in sensors, connectivity to mobile devices, and automation. For example, folding tables or chairs with embedded sensors can adjust their height or configuration based on user preferences or specific activities. IoT connectivity enables folding furniture to be part of a larger smart home ecosystem. As technology evolves, it will likely drive further advancements in the market. Moreover, Home improvement trends increasingly emphasize optimizing small living spaces. With urbanization and the rising popularity of compact homes, folding furniture becomes a practical choice to make the most of limited square footage, aligning with the trend of maximizing functionality in smaller environments. Thus, home improvement and renovation trends are integral to the growth of the market.
However, the primary concern with high manufacturing costs is the potential impact on consumer affordability. Also, the production expenses are considerable, manufacturers may pass these expenses on to consumers through higher retail prices. This, in turn, can make folding furniture less accessible to a broader consumer base, limiting market penetration. In a market where pricing is crucial, high manufacturing costs can pressure manufacturers to set higher retail prices. Due to the above factors, market growth will be hampered in the coming years.
By distribution channel, the market is classified into offline and online. In 2022, the offline segment held the highest revenue share in the market. The segment for offline distribution channels was dominated by specialty stores, owing to the numerous home furnishing stores available in the market. Globally renowned manufacturers, including Inter IKEA Systems BV, Urban Ladder, Pepperfry, and Raymour & Flanigan Furniture, are among the retailers whose market dominance has generated intense competition. By emulating a home environment within the store, these establishments assist customers in envisioning their future homes and furniture collections. Furthermore, the key determinants propelling these stores are customization options for home furnishings in response to consumer demands and the varying spatial requirements of residences.
On the basis of product, the market is segmented into table & chair, sofa, bed, and others. The sofa segment acquired a substantial revenue share in the market in 2022. Folding sofas are excellent space-saving solutions, especially in smaller living spaces or multifunctional rooms. They offer the convenience of a comfortable sofa during the day without occupying additional space that a separate bed would require. Folding sofas are particularly beneficial for accommodating overnight guests. The sofa can be effortlessly converted into a bed, offering a comfortable sleeping surface. This is a practical and space-efficient alternative to having a dedicated guest room. In urban environments where space is often premium, folding sofas are an ideal choice. They allow residents of small apartments or studio units to optimize their living areas by providing seating and sleeping options in a single piece of furniture.
Free Valuable Insights: Global Folding Furniture Market size to reach USD 5.8 Billion by 2030
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. The North America region recorded a remarkable revenue share in the market in 2022. Consumers are being encouraged to invest in such products due to their reduced utilization and smaller living space, resulting from the growing preference for one-person or two-person households in American nations such as the United States, Canada, and Mexico. Furthermore, folding furniture products have gained traction in North American countries due to the growing recognition of their space-saving properties, adaptability, and simplicity of relocation.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 3.1 Billion |
| Market size forecast in 2030 | USD 5.8 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 6.2% from 2023 to 2030 |
| Number of Pages | 240 |
| Number of Table | 510 |
| Quantitative Data | Volume in Thousand Units, Revenue in USD Billion, and CAGR from 2019 to 2030 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Product, Distribution Channel, Region |
| Country scope |
|
| Companies Included | Sauder woodworking Co., Ashley Furniture Industries, LLC, Haworth, Inc., Inter Ikea Systems B.V. (Inter Ikea Holding B.V), Lifetime Products Meco Corporation (Unaka Corporation), Expand Furniture Inc, Murphy Wall Beds Hardware Inc., Dorel Industries Inc., Resource Furniture |
By Product (Volume, Thousand Units, USD Billion, 2019-2030)
By Distribution Channel (Volume, Thousand Units, USD Billion, 2019-2030)
By Geography (Volume, Thousand Units, USD Billion, 2019-2030)
This Market size is expected to reach $5.8 billion by 2030.
Continuous innovations in technology are driving the Market in coming years, however, High manufacturing cost of folding furniture restraints the growth of the Market.
Sauder woodworking Co., Ashley Furniture Industries, LLC, Haworth, Inc., Inter Ikea Systems B.V. (Inter Ikea Holding B.V), Lifetime Products Meco Corporation (Unaka Corporation), Expand Furniture Inc, Murphy Wall Beds Hardware Inc., Dorel Industries Inc., Resource Furniture
In the year 2022, the market attained a volume of 18,276.5 thousand units, experiencing a growth of 6.2% (2019-2022).
The Table & Chair segment is leading the Market by Product in 2022 there by, achieving a market value of $2.8 Billion by 2030.
The Asia Pacific region dominated the Market by Region in 2022, and would continue to be a dominant market till 2030; there by, achieving a market value of $2.3 Billion by 2030
Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
Unique Offerings 