Urbanization pooled with population increase has resulted into people moving towards cities in search of employment opportunities. A product of modernization and industrialization, accommodation shortage led to building of micro-apartments to lodge the growing population. This has provided opportunity for development of foldable space saving furniture. In the past what was observed as cheap furniture is now considered as trendy and value for money.
Foldable furniture provides for effective space saving options without downscaling but rather collapsing the furniture as per the available area. It not only provides for utilitarian options such as dining chair but also offers aesthetic appeal. From ceiling beds to pop-up coffee table, foldable furniture industry provides for numerous innovations. The most recent trend being that of Bookniture, a compact furniture hidden in a book. Designed to look as small notebook, bookniture can be unfolded into a footrest, standing desk, and portable side table.
Rise in single-family dwellings, growth in population, and booming real estate industry are some of the factors that propel the growth in the foldable furniture market. Apart from being multifunctional, foldable furniture enhances home décor. Though, the demand for foldable furniture is increasing, rising cost of raw material that includes resin, aluminum, and plastic might hamper wide-spread adoption of the same.
Folding furniture market is segmented based on type of furniture, usage, sales channel, and geography. Different types of folding furniture include chairs, tables, sofas, beds, and other furniture. These variety of types of folding furniture are used for commercial as well as residential purpose. Folding furniture is sold through online as well as offline stores. Folding furniture market is analyzed across geographies namely North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, Australia and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and Rest of LAMEA).
Potential Benefits for Stakeholders
The global folding furniture market is segmented by product types, application, distribution channel, and geography.
BY SALES CHANNEL
Key Market Players:
Other players in the value chain include (profiles not included in the report)
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