Dublin, Aug. 30, 2023 (GLOBE NEWSWIRE) -- The "Global Folding Furniture Market Forecast to 2030 by Product Type, Material, Application, Distribution Channel, and Region" report has been added to ResearchAndMarkets.com's offering.
Unfolding Opportunity: Global Folding Furniture Market's Journey Ahead
Projections unveil a compelling narrative for the global folding furniture market, envisioning its size to surge from US$ 3.44 billion in 2023 to a substantial US$ 5.76 billion by 2030. This dynamic growth is set to ride on a robust Compound Annual Growth Rate (CAGR) of 7.6% spanning from 2022 to 2030.
Space Optimization and Versatility: Driving Factors for Folding Furniture Demand
Folding furniture emerges as a space-savvy marvel, adored for its flexibility to fold or compress seamlessly in compact living spaces, be it cozy rooms or apartments. Beyond spatial economy, folding furniture is synonymous with lightweight, easy-to-deploy structures that effortlessly transition between various configurations. This versatility fuels its demand among consumers seeking pragmatic solutions for their living spaces. Manufacturers, propelled by vigorous research and escalating consumer expectations for style and comfort, are pioneering ingenious concepts like paper folding furniture and pop-up architectures. Folding furniture frequently embraces multi-functional designs, ingeniously merging diverse utilities within a single piece. A folding table, for instance, elegantly transforms into a dining table, a work desk, or even storage space when not in use. This adaptability resonates with consumers pursuing furniture that harmonizes with diverse needs and spatial constraints, thus reducing the need for multiple furniture items.
Portability and Multifunctionality: Anchoring the Rise of Folding Furniture
Elevated as a portable and space-maximizing genre of furniture, folding furniture aligns seamlessly with the preferences of those dwelling within compact home structures. Known for its multifaceted prowess, it effortlessly folds or collapses, adapting to limited spaces with grace. This attribute brings forth its portability and compactness, rendering it highly adaptable. The surge in demand for folding furniture mirrors urbanization's rapid pace, coupled with robust expansion in the residential sector. With consumer lifestyles undergoing transformation, the allure of folding furniture grows. Chairs, tables, sofas, beds, and more, all take on this adaptable form, finding favor with both residential and commercial patrons. Moreover, bolstered disposable incomes and a shifting consumer lifestyle embolden the quest for folding furniture, marrying aesthetic allure with convenience and comfort.
Asia Pacific's Grand Stage: A Vital Hub for Folding Furniture Growth
In 2022, Asia Pacific occupied the leading revenue share within the global folding furniture arena. This geographical powerhouse encompasses diverse cultures and bustling economies like China, India, Japan, South Korea, and Australia. As the middle-class population burgeons alongside urbanization's march, the folding furniture sector finds itself in a fertile landscape. China spearheads this regional trend, closely trailed by Japan, India, Vietnam, and South Korea. Commercial establishments and residential spaces alike bear witness to folding furniture's utility across these nations. Such trends act as catalysts, fostering amplified demand for folding furniture, propelling its growth trajectory within the region.
Pioneers of Transformation: Noteworthy Market Players
A constellation of significant players orbits the global folding furniture market. Notable names such as Leggett & Platt Inc, Ashley Furniture Industries LLC, Inter IKEA Holding BV, Hussey Seating Co, Sauder Manufacturing Co, Meco Corp, Dorel Industries Inc, Maxchief Europe SL, Leisure N Pleasure SARL, and Godrej & Boyce Manufacturing Co Ltd steer the industry's course. These market stalwarts thrive on strategic initiatives encompassing research, mergers, acquisitions, expansions, and innovative product launches. Such endeavors underscore their commitment to delivering high-quality, pioneering products that reshape living spaces with flair.
As the global folding furniture market unfurls its potential, it stands poised to reshape the way we inhabit and interact with our living spaces, driven by a fusion of functionality and form.
Key Industry Dynamics
- Market Drivers
- Rising Demand for Portable, Multi-Functional, and Space-Saving Furniture
- Rapid Urbanization Along with Growing Residential Sector
- Market Restraints
- High Cost of Raw Material
- Market Opportunities
- Rapid Advancements in Folding Furniture
- Future Trends
- Adoption of Eco-Friendly Materials
Key Topics Covered
1. Introduction
2. Executive Summary
3. Research Methodology
4. Global Folding Furniture Market Landscape
5. Global Folding Furniture Market - Key Industry Dynamics
6. Global Folding Furniture Market - Regional Market Analysis
7. Folding Furniture Market Analysis - By Product Type
8. Folding Furniture Market Analysis - By Material
9. Folding Furniture Market Analysis - By Application
10. Folding Furniture Market Analysis - By Distribution Channel
11. Folding Furniture Market - Geographical Analysis
12. Pre & Post COVID-19 Impact
13. Folding Furniture Market Industry Landscape
14. Competitive Landscape
15. Global Folding Furniture Market, Key Company Profiles
16. Appendix
A selection of companies mentioned in this report includes:
- Leggett & Platt Inc
- Ashley Furniture Industries LLC
- Inter IKEA Holding BV
- Hussey Seating Co
- Sauder Manufacturing Co
- Meco Corp
- Dorel Industries Inc
- Maxchief Europe SL
- Leisure N Pleasure SARL
- Godrej & Boyce Manufacturing Co Ltd
For more information about this report visit https://www.researchandmarkets.com/r/vmyn
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