India Folding Furniture Market to be Dominated by Folding Chairs Segment During the Forecast Period
Growing demand for compact
and multi-functional furniture and rising construction in residential sector are
expected to drive the growth of the India folding furniture market.
According to
TechSci Research report, “India Folding Furniture Market – By Region,
Competition Forecast & Opportunities, 2018-2028,” the India Folding Furniture
market is expected to grow during the forecast period due to several factors
such as the shifting trend towards small-sized apartments and the increasing
trend of co-living among millennials.
Folding furniture
can be arranged in a way that takes up less space. It is largely being favored
in smaller homes. When not in use, it can be folded and then used, just like
any other piece of furniture. Due to its durability, folding furniture
constructed of wood or a similar material is increasingly popular. Among other
things, these objects include sofas, beds, tables, and seats. Due to their
versatility, folding chairs dominate the market.
The main factor
driving the growth of folding furniture market in India is the rise in compact
rooms and buildings, which is brought on by an increase in storage and sleeping
space usage. The foldable furniture consists of desks, beds, tables, and
chairs. Due to distinctive qualities including cost, light weight, and
user-friendliness, the market for folding furniture has been increasing. The
industry is expanding as a result of the increased demand for low-maintenance
interior furnishings.
Furniture
solutions that save space are frequently more useful practically than
traditional furniture. For instance, the top of a traditional dining table
might be made of wood or glass. It requires upkeep of the wood or glass and is
very difficult to move. Furniture solutions that save space are frequently more
useful practically than traditional furniture. For instance, the top of a
traditional dining table might be made of wood or glass. It requires upkeep of
the wood or glass and is very difficult to move.
Despite the
economy of space, their demand is anticipated to rise during the forecast
period, and they are anticipated to be a preferred choice among customers.
Rapid urbanization and real estate market expansion have an impact on the
folding furniture sector in India. Renting out apartments is becoming more and
more popular among millennials, as has been seen. They have a greater
preference for less expensive, more versatile, and compact furniture that fits
their urban, active lifestyles.
The manufacturers
of foldable furniture are working to make their products more appealing to
consumers and more in line with their urban lifestyles. Market competitors are
expanding their product portfolios to meet the demands of consumers looking for
furniture that can easily transition from work mode to living mode. Their
furniture options now have a greater emphasis on being lightweight, simple to
tuck away, aesthetically pleasing, and scientifically shaped, supporting the
expansion of the market for folding furniture.
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market data Figures spread through 70 Pages and an in-depth TOC on "India Folding Furniture Market"
The India Folding Furniture
Market is segmented based on product type, end user, distribution channel,
region, and company. Based on product type, the market is further segmented
into chairs, tables, sofas, and beds. Among these segments folding chair is the
fastest growing segment owing to their versatility and necessity. The growing
consumer preference for wooden furniture to add aesthetic value has led to an
increase in the production of folding furniture in the market.
Based on end user, the India
folding furniture market is segmented into residential, and commercial. Among these
segments residential is the fastest growing segment due to increasing usage of
folding furniture such as chairs and sofas etc., and rise in compact rooms in
the residential sector.
Based on distribution
channel, the market is further segmented into furniture retail outlets,
supermarket & hypermarket, home décor shops, dealers/agents, others
(wholesales, distributors,). Based on the region the market is further segmented
into North, South, East and West.
Key market
players in the India Folding Furniture market include:
- Godrej and Boyce Manufacturing Company Limited
- Nilkamal Limited
- IKEA India Private Limited
- Ashley Furniture
- Pepperfry Limited
- The Wooden Street Furniture Private Limited
Krini Furniture Pvt Ltd.
- Homevista Decor and Furnishings Pvt. Ltd
- Etsystore Private Limited
- Ribbonic Wallbed
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“The growing
demand for multifunctional and compact furniture is expected to drive the
folding furniture market in India. People's rising disposable income and
ever-changing lifestyles are some of the factors driving the folding furniture
market in India. Other significant factors, such as increased public awareness
of e-commerce platforms and increased urbanization across the country, will
accelerate market growth. Furthermore, the significant increase in
construction activities and the emergence of new markets will accelerate market
growth in the future," said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based global management consulting firm.
“India Folding Furniture
Market By Product Type (Chairs, Tables,
Sofas, and Beds), By End User (Residential, Commercial), By Distribution
Channel (Furniture Retail Outlets, Supermarket & Hypermarket, Home Décor
Shops, Dealers/AgentsOthers (Wholesales, Distributors,), By Region, Competition
Forecast and Opportunities, 2018-2028F,” has
evaluated the future growth potential of India 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 the India folding
furniture market.
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