Recent report published by research nester titled “Foldable Furniture Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global foldable furniture market in terms of market segmentation by product type, by application, by distribution channel and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis, and Porter’s five force model.
The global foldable furniture market is segmented into product type such as chairs, tables, sofas, beds and essentials. Further, growing e-commerce business and rising consumer preference for online shopping in India are some of the key factors which are predicted to bolster the growth of online store segment. Furthermore, consumers’ inclination towards healthy life styles is a major factor which is increasing the consumption of
Global foldable furniture market is expected to register a 7.5% CAGR over the forecast period. Moreover, the global foldable furniture market is expected to reach at USD 13.2 Billion by the end of 2024. The demand foldable furniture is rising due to a number of factors such as increasing number of tiny houses and growing demand for multi-purpose furniture across the globe. Furthermore, the demand for foldable furniture is increasing due to growing trends such as one room challenge and home-office trends. Furthermore, changing consumer life style and increasing number of peoples living in rented apartments are also expected to drive the growth of foldable furniture market in future.
The offline distribution channel segment by distribution channel accounted for major share in 2016. Furthermore, growing e-commerce business and rising consumer preference for online shopping are some of the key factors which are predicted to bolster the growth of foldable furniture market over the forecast period.
Rapid Urbanization
Increasing urbanization across the globe especially in emerging countries is escalating the demand for foldable furniture. Increasing number of smart apartments and growing advancements in foldable furniture such as multi-purpose furniture, all in one furniture and automatic foldable furniture are the major factors which are projected to propel the growth of foldable furniture market in near future.
Rising Construction Activities
Decline in living areas in cities and increasing construction of small apartments in urban areas are increasing the demand for Foldable Furniture. Furthermore, foldable furniture offers space saving benefits which is expected to increase the demand for foldable furniture over the forecast period.
However, high cost of foldable furniture as compared to traditional furniture is likely to inhibit the growth of the foldable furniture market in the near future.
This report also provides the existing competitive scenario of some of the key players of the global foldable furniture market which includes company profiling of:Lifetime Products, Inc.,Expand Furniture,Resource Furniture,IKEA Systems B.V.,Cosco,Murphy Wall Beds Hardware Inc.,Meco Corporation,Guangdong Nova Furniture Co.Limited,Kestell Furniture Co. Inc. and Mogo Direct.
