Foldable Beds in Folding Furniture Market to Grow During the Forecast Period
Increasing
demand for small-sized apartments, rising demand for compact furniture, and
rising trend of co-living among consumers are the leading factors driving the
global folding furniture market during the forecast period.
According to
TechSci Research report, “Folding Furniture Market – Global Industry Size,
Share, Trends, Competition, Opportunity, and Forecast, 2018-2028,” the rise in small rooms as a
result of shrinking housing sizes is the main element leading to the expansion
of global folding furniture market. The foldable furniture consists of desks,
beds, tables, and chairs. Due to distinctive qualities such as light weight,
and user-friendliness, the market share for folding furniture has been
increasing significantly. Additionally, there is a growing need for foldable furniture
in commercial settings, including offices, hotels, hospitals, and even
industrial sectors.
Foldable furniture includes
items that can be dissolved into a size or shape that takes less space. Folding
furniture is a substitute for conventional furniture. The adaptability and
space-saving features of this type of furniture also improve the interior
design of the available space. Given the economy of space, the demand for these
products is anticipated to rise during the forecast period. Also, e rapid urbanization
and real estate market expansion have positively impacted the folding furniture
sector. Moreover, co-living is becoming popular among millennials who prefer to
purchase versatile compact furniture suitable for urban infrastructure and requiring
less space.
Browse over xx market data Figures spread through xx Pages and an in-depth TOC on the "Global Folding Furniture Market"
The manufacturers of foldable
furniture are focusing on developing products, which are more appealing to
consumers. Market players are expanding their product portfolios to meet the
demand of consumers looking for furniture that can easily transition from work
mode to living mode. Moreover, due to the pandemic, most companies have opted
for the work-from-home culture for their employees. As per the data provided by
American Community Survey in 2021, the number of people primarily working from
home tripled from 5.7% (roughly 9 million people) to 17.9% (27.6 million
people) in the United States. Thus, increasing the demand for foldable chairs
and tables. Additionally, furniture manufacturers are emphasizing on furniture items
being lightweight, simple to tuck away, aesthetically pleasing, and
scientifically shaped, which will further fuel the growth of the global folding
furniture market.
Furthermore, due to the rise
in small-size apartments, Murphy beds and sofa beds are widely utilized in
metropolitan areas to make the most use of available space. In order to place
seats at any lawn or venue quickly and affordably, caterers or event organizers
utilize folding tables and chairs. Additionally, the folding furniture is
frequently used in capsule hotels and hostels to fit as many facilities as
possible into a compact space. With the help of modern augmented reality
software, large manufacturers of folding furniture, such as IKEA, etc., have
made it possible for anyone to visualize how the furniture will look in their
home. Due to its DIY (Do-it-yourself) nature, it can be customized as per the
needs of the user.
Folding furniture may be
transported anywhere, including camping or adventure trips, and is simply
folded into very small sizes. Also, lately, there have been a lot of prospects
for this sector, such as the innovative concept of capsule hotels, which are
inexpensive to stay in and have really small rooms that need a lot of folding
furniture to make them more appealing to visitors.
The market for global
folding furniture has been divided into commercial and residential based on end
user. The demand among residential sector is rising as residential
development activity expands globally. Additionally, during the forecast
period, the commercial segment is anticipated to considerably impact the
market. In several sub-applications of commercial buildings, including
healthcare facilities, corporate offices, and educational institutions, folding
furniture is installed.
Key market players in the
global folding furniture market include:
- Bush
Industries, Inc.
- Inter IKEA
Systems B.V.
- Murphy Wall
Beds Hardware Inc.
- Ashley
Furniture Industries Inc.
- Kestell
Furniture LLC
- Murphy Wall
Beds Hardware Inc
- Lifetime
Products Inc.
- Flexsteel
Industries, Inc.
- Dorel Industries
Inc.
- Haworth Inc.
Due to the increased competition in the market for
folding furniture, several businesses are implementing various strategies
to stay effective. For instance, Dorel Industries Inc. declared complete
acquisition of Notio Living in 2021. The Danish business is being acquired by
Dorel Home, a division of Dorel Industries, for USD19 million.
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"The rising number of small
sized apartments, growing trend of compact furniture, increasing trend of
co-living in various countries and the rising demand through online channels will
influence the demand for global folding furniture market,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Folding Furniture Market –
Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast,
2018-2028, Segmented By Product Type (Chairs, Tables, Sofas, Beds), By End User
(Residential, Commercial), By Distribution Channel (Direct Sales, Furniture
Retail Outlets, Supermarket & Hypermarket, Home Décor Shops, Others
(Distributors, Dealers)), By Region, Competition, Forecast & Opportunities,
2018-2028F” has evaluated the future growth potential of global
folding furniture market
and provides statistics and
information on market structure, size, share, and future growth. The report is
intended to provide cutting-edge market intelligence and help decision-makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges and
opportunities present in folding furniture market globally.
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