The Folding Furniture Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Folding Furniture Global Market Report 2024, The folding furniture market size has grown strongly in recent years. It will grow from $9.87 billion in 2023 to $10.53 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to growing smaller living areas in the region, the rise of single-person households, rising environmental consciousness, increasing demand for affordable furniture solutions, and developments in e-commerce and online retailing.
The folding furniture market size is expected to see strong growth in the next few years. It will grow to $13.69 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to rising smart home integration, rise of home offices, growing residential and non-residential construction, growing urbanization, rising disposable income. Major trends in the forecast period include advancements in material technology, rising trend towards using eco-friendly and sustainable materials, the need for portable and lightweight furniture, advances in innovative folding mechanisms, and the integration of smart technology.
The increasing focus on space optimization and home renovation is expected to propel the growth of the folding furniture market going forward. Home renovation refers to improving, remodeling, or updating an existing residential property to enhance its functionality, aesthetics, or value. The focus on home renovation arises because of personalization, property value, functionality, sustainability, lifestyle changes, and housing stock conditions. Folding furniture is commonly used in home renovation projects to enhance and extend outdoor and indoor living spaces, providing homeowners with functional and comfortable areas for relaxation, dining, and entertaining. For instance, in January 2023, according to the Joint Center for Housing Centers of Harvard University, a US-based university research center, the expenditure on home improvement projects is expected to increase from $472 billion in 2022 to $485 billion in 2024. Therefore, the increasing focus on space optimization and home renovation is driving the growth of the folding furniture market.
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The folding furniture market covered in this report is segmented –
1) By Product Type: Chairs, Tables, Sofas, Beds, Other Product Types
2) By Material: Wood, Metal, Plastic
3) By Distribution Channel: Offline, Online
4) By Application: Residential, Commercial
Major companies operating in the folding furniture market focus on advanced designs such as smart and fancy foldable racing sim cockpit chairs to provide a realistic racing experience while compact and easy to store. Smart and fancy foldable racing simulator cockpit chairs are seating solutions designed exclusively for racing simulation fans. They are connected with technology and provide the ease of quick storage and mobility without sacrificing stability or durability during usage. For instance, in September 2023, Logitech G, a Switzerland-based company, with Playseat, a Netherlands-based manufacturer of gaming seats, launched Playseat Challenge X. It integrates ergonomic design with foldable functionality, allowing for easy storage and setup. The chair’s structure is lightweight, foldable carbon steel, and weighs only 11.6 kg (26 pounds). The seat features Playseat’s ActiFit breathable material, body-conforming design, and adjustable stiffness. This provides greater support and thermal management, helping racers remain comfortable.
The folding furniture market report table of contents includes:
1. Executive Summary
2. Folding Furniture Market Characteristics
3. Folding Furniture Market Trends And Strategies
4. Folding Furniture Market – Macro Economic Scenario
5. Global Folding Furniture Market Size and Growth
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32. Global Folding Furniture Market Competitive Benchmarking
33. Global Folding Furniture Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Folding Furniture Market
35. Folding Furniture Market Future Outlook and Potential Analysis
36. Appendix
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