The scope of our recent study on the “Folding Furniture Market t2027 – COVID-19 Impact and Global Analysis– by Product Type (Table and Chair, Sofas, Beds, Table TV Trays, Others ); by Application ( Residential, Commercial ); by Material ( Wood, Metal, Plastic, Others ); by Distribution Channel ( Store-based, Non Store-based )” includes the factors fueling the market growth, revenue estimation and forecast, and market share analysis, along with the identification of significant market players and their key developments.
The folding furniture market was valued at US$ 3,070.80 million in 2019 and is projected treach US$ 4,754.29 million by 2027; it is expected tgrow at a CAGR of 5.7% from 2020 t2027. The demand for folding furniture is rising with rapid urbanization coupled with significant growth in residential sector and rapid advancement related tfolding furniture. Folding furniture such as chairs, tables, sofas, beds, table trays, and others are quite popular among both residential and commercial customers. Moreover, rising disposable income of consumers along with shift in consumer lifestyle has motivated the consumers topt for folding furniture which could enhance aesthetic appeal as well as provide convenience and comfortability.
Based on product type, the folding furniture market is segmented inttable and chair, sofas, beds, table TV trays, and others. In 2019, the table and chair segment held the largest share of the market. A few common types of folding furniture tables are the dining table, coffee table, and others. There is a range of specialized types of tables, such as drafting tables, used for architectural drawings. A combination of a table comes with twbenches, mostly picnic tables, as often seen at camping sites and other events. Solid glass tabletop on a patiis quite popular. Waterproof folding tables are usually made of materials such as mahogany, cast aluminum, teak, PE wicker, plastic, and PVC wicker. These materials are durable along with they can withstand the elements of wind, rain, and sun exposure. This table is used for both outdoors and indoors. Folding chairs vary in design and are primarily made of wood, metal, and synthetic materials. Folding chairs, rocking chairs, loungers, armchairs, and many others are quite popular among the customers. All these factors propel the growth of the folding furniture market globally.
The global folding furniture market is segmented intfive main regions—North America, Europe, Asia Pacific (APAC), Middle East &Africa (MEA), and South America. In 2019, APAC contributed tthe largest share in the market. The APAC encompasses a massive amount of opportunities for the growth of folding furniture. The region has surfaced as one of the prominent markets for the utilization of folding furniture. Further, presence of compact living space along with growing consumer focus tenhance the aesthetic appeal are among the factors driving the growth of the market in APAC. China is dominating the regional market, followed by Japan and India. These countries are witnessing rising demand from commercial and residential end users. The rising demand for folding furniture in Asia Pacific has attracted the manufacturers testablish their presence in the region. This shift has fueled the growth of the market in the region.
Impact of COVID-19 Pandemic on Folding Furniture Market
The COVID-19 outbreak was first reported in Wuhan (China) in December 2019. As of February 2021, the US, India, Brazil, Russia, the UK, France, Spain, Italy, Turkey, Germany, Colombia, and Argentina are among the worst affected countries in terms of confirmed cases and reported deaths. According tthe latest WHfigures, there are around 104,370,550 confirmed cases and 2,271,180 total deaths globally. The outbreak has adversely affected economies and industries in various countries due tlockdowns, travel bans, and business shutdowns. The consumer goods industry is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns. The shutdown of various plants and factories in leading regions such as North America, Europe, Asia Pacific, South America, and the Middle East and Africa is restricting the global supply chain and hindering manufacturing activities, delivery schedules, and various goods sales. Furthermore, various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are hampering the business collaborations and partnerships opportunities. All these factors are restraining the growth of various markets related tthe consumer goods industry.
Folding Furniture Market, by Product Type
- Table and Chair
- Sofas
- Beds
- Table TV Trays
- Others
Folding Furniture Market, by Application
Folding Furniture Market, by Material
Folding Furniture Market, by Distribution Channel
- Store-based
- Non Store-based
Folding Furniture Market, by Geography
- North America
- Europe
- Germany
- France
- UK
- Italy
- Rest of Europe
- Asia Pacific (APAC)
- Australia
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia Pacific
- Middle East &Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of Middle East &Africa
- South America
- Brazil
- Argentina
- Rest of South America
