Global Folding Furniture Market was valued at US$ 9.20 Bn in 2019 and is expected to reach US$ 15.10 Bn by 2026, at a CAGR of 6.39% during a forecast period.
The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
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Global Folding Furniture Market Dynamics:
Foldable furniture contains furniture that can be crumbled into a shape or position that utilizes less space. Folding furniture is an actual alternative to traditional furniture. The multi-functionality and space equivalent of this type of furniture, also improve the decor of available space.
The report study has analyzed the revenue impact of the COVID-19 pandemic on the sales revenue of market leaders, market followers, and disrupters in the report, and the same is reflected in our analysis.
The objective of the report is to present a comprehensive assessment of the global folding furniture market and contains considerate insights, facts, historical data, industry-validated market data, and projections with an appropriate set of traditions and methodology. The report also helps in understanding dynamics, structure by analyzing the market segments by material, type, end-user, and region and, projects the global market size.
The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global folding furniture market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
Increasing preferences of the public to stay in small houses owing to high maintenance cost and other associated costs has motivated the demand for folding furniture across the globe. It also helps to enhance the decoration of the home. The main factor responsible for the growth of the market is the increased number of smaller homes in the populous cities across the globe is expected to drive the global folding furniture market. Increasing the requirement for saving space is also propelling the growth in the global folding furniture market.
Increasing demand for decorative interior and low maintenance structure product is also projected to make growth opportunities for the global folding furniture market. Furthermore, the variable price of raw materials are limiting the growth in the global folding furniture market.
The foldable furniture contains beds, tables, and most prominently, the chair. Folding chairs single take up space once they are desired and can be kept in a closet when they are not in practice. A mishmash of the portable, lightweight, and simply storable qualities has fashioned an appeal among the universal population.
Currently, folding chairs are essential for picnic, outdoor event, or family gathering. The folding furniture can be an excessive saver for a flat or cramped house. Furthermore, the Foldable beds' segment is projected to grow at a high rate of CAGR during the forecast period. A bed is only used in a short time of the night but, it grosses up a large amount of space in the day. The bed that can be folded up in the wall that goes and exposes a shelf, can save much space. Many societies living in apartments and save space with the usage of foldable furniture.
The online segment is estimated to witness high growth in the global folding furniture market. Online platforms become popular owing to that they provide delivery to the doorstep by order of products. With an online platform, the consumer can compare the price of folding furniture on different websites. Online platforms provide the home delivery and free shipping and Exchange & return offer turns to upsurge the demand for the product.
Geographically, Asia Pacific is expected to lead the global folding furniture market. The increasing growth of real estate along with the rapid urban population is expected to drive the folding furniture market during the forecast period. A growing number of residential and commercial buildings specifically in emerging regions is projected to enlarge the growth of Asia Pacific folding furniture during the forecast period.
Additionally, the folding furniture manufacturers are frustrating to provide to the metropolitan ways of life of customers and are adding interesting features to the furniture. Some of the key players are focusing to meet the increasing needs of the consumers are expanding their product portfolio in this region.
Global Folding Furniture Market, Key Highlights:
• Global Folding Furniture Market analysis and forecast, in terms of value.
• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Folding Furniture Market
• Global Folding Furniture Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
• Global Folding Furniture Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
• Global Folding Furniture Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Folding Furniture Market are also profiled.
The report has considered the base year of 2019 and past four years trend. 2020 figures are at actuals, however due to different dynamics of year 2020, market forecast is not only dependent upon 2020, but on the basis of 2016-2020.
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Scope of the Report Global Folding Furniture Market: Inquire before buying
Global Folding Furniture Market, by Product Type
• Chairs
• Tables
• Sofas
• Beds
• Other furniture
Global Folding Furniture Market, by Application
• Residential
• Commercial
Global Folding Furniture Market, by Distribution Channel
• Offline
• Online
Global Folding Furniture Market, by Geography
• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• South America
Global Folding Furniture Market Key Players
• Dorel Industries Inc.
• Inter Ikea Systems B.V.
• Meco Corporation
• Lifetime Products Inc.
• Resource Furniture
• Expand Furniture
• Murphy Wall Beds Hardware Inc.
• Ashley Furniture Industries
• Flex steel Industries, Inc
• Bush Industries, Inc.
• Sauder Woodworking Company
• La-Z-Boy Inc.
• Leggett & Platt Inc.
• Haworth Inc.
• Flexfurn Ltd
• Gopak Ltd
• Nilkamal Limited
• Walmart
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