Global Folding Furniture Market by Product Types and Regions- Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020–2026

The folding furniture market was valued at approximately USD 8Billion in 2019 and is expected to surpass USD 5Billion by 2026, expanding at a CAGR of 6% during the forecast period 2020–2026.

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A folding furniture is a type of furniture which can be folded into a shape or position that takes less space. Folding furniture comprises of folding tables, folding chairs, folding sofas and folding beds. A folding chair is a type of folding furniture, a light, portable chair that folds flat or to a smaller size, and can be stored in a stack, in a row, or on a cart. It can be combined with a folding table. Folding chairs are generally used for seating in areas where permanent seating is not possible or practical. This includes outdoor and indoor events such as funerals, college graduations, religious services, and sporting events and competitions. Folding chairs are also used in the home for any situation requiring extra seating. This includes parties, card games, and temporary seating at the dinner table. A folding table is a type of folding furniture, a table with legs that fold up against the table top. This is intended to make storage more convenient and to make the table more portable. Many folding tables are made of lightweight materials to further increase portability.

Market Trends, Drivers, Restraints, and Opportunities:

The shifting trend towards small sized apartments as a result of increasing population and rising urbanization has popularized the concept of folding furniture. Downsizing the living space in apartments has led to a rise in demand for folding furniture in the market.
Rising prices of traditional wood furniture on account of increasing environmental concerns have paved way for these modern products. This furniture is manufactured using lightweight materials such as plastic and mild steel. Therefore, plastic and metal folding furniture are gaining an increasing preference due to their less cost and better durability.
The frequent replacement of such furniture has been a restraint to this market. The furniture being made of plastic and metal, once the joints of such furniture is broken, the whole assembly has to be replaced.
The use of visual technologies in distribution channels is one of the key folding furniture market trends. Furniture retailers and manufacturers are adopting visual technologies like augmented reality (AR) and virtual reality (VR) to increase sales in their retail outlets. Vendors are launching AR applications that can help consumers visualize furniture before purchase. This trend is expected to be adopted by several more manufacturers and retailers in the coming years. This is expected to boost the market in the forecast period.

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Competitive Landscape:

The global folding furniture market has been fragmented by presence of various regional and global players. Key players operating in the global market include Flexsteel Industries Inc., Haworth Inc., Meco Corporation, Dorel Industries Inc., Murphy Wall Beds Hardware Inc., Ashley Furniture Industries, La-Z-Boy Inc., Leggett & Platt Inc., Resource Furniture and Sauder Woodworking Company. Companies are focusing on expanding their production capacity and are adopting innovative technologies in order to meet consumer demand for folding furniture products. For instance, companies such as Murphy Wall Beds Hardware Inc., Twin Cities Closet Company and The Bedder WayCo. have introduced folding wall bed and free-standing wall bed mechanisms that serve the basic utility as well as help in saving up enough space.

The Global Folding Furniture Market has been segmented on the basis of

Product Types

Table & Chair
Sofa
Bed

Distribution Channel types

Online
Offline

Regions

Asia Pacific
Europe
North America
Middle East and Africa
Latin America

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Table of Contents

Executive Summary
Assumptions and Acronyms Used
Research Methodology
Folding Furniture Market Overview
Global Folding Furniture Market Analysis and Forecast by Type
Global Folding Furniture Market Analysis and Forecast by Application
Global Folding Furniture Market Analysis and Forecast by Sales Channel
Global Folding Furniture Market Analysis and Forecast by Region
North Folding Furniture Market Analysis and Forecast
Latin Folding Furniture Market Analysis and Forecast
Europe Folding Furniture Market Analysis and Forecast
Asia Pacific Folding Furniture Market Analysis and Forecast
Middle East & Africa Folding Furniture Market Analysis and Forecast
Competition Landscape

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