Global Folding Furniture Market Size, Share, Growth Analysis, By Product(Table & Chair, Sofa), By Distribution Channel(Offline and Online) - Industry Forecast 2024-2031

Global Folding Furniture Market size was valued at USD 8.60 billion in 2021 and is poised to grow from USD 9.27 billion in 2022 to USD 16.90 billion by 2030, growing at a CAGR of 7.80% in the forecast period (2023-2030).

There is fierce competition on the global market by its very nature. Ashley Furniture Businesses, La-Z-Boy Inc., Leggett and Platt Inc., Resource Furniture, Sauder Woodworking, Flexsteel Industries, Inc., Haworth Inc., Meco company, Dorel Industries, Inc., Murphy Wall Beds Hardware, and Company are some of the major companies active in the international industry. To meet the growing demand for foldable furniture products, businesses are concentrating on increasing their production capacity through the use of cutting-edge technology. Companies like Murphy Walls Beds Hardware Inc., Twin Cities Closet Company, and The Bedder WayCo., for example, have developed folding wall beds & independent wall bed mechanisms that perform the essential purpose while also contributing to adequate space savings. 'IKEA', 'Lifetime Products, Inc.', 'Meco Corporation', 'Flexsteel Industries, Inc.', 'Expand Furniture', 'Haworth, Inc.', 'Leggett & Platt, Inc.', 'Cosco Home & Office Products', 'Ashley Furniture Industries, Inc.', 'NISSEN Denmark', 'Resource Furniture', 'MityLite', 'Gopak Ltd.', 'La-Z-Boy Incorporated', 'FOLD & GO', 'Alstons Upholstery Ltd.', 'Balichun Bedding', 'Ornavo Home', 'McLeland Design', 'KOVA Interiors'

The increasing urbanization and limited living spaces in urban areas drive the demand for folding furniture. Folding furniture offers the flexibility to maximize space utilization by providing functional furniture solutions that can be easily folded and stored when not in use.

Rising Popularity of Space-Saving Solutions: The growing demand for space-saving furniture solutions is a significant trend in the folding furniture market. With increasing urbanization and limited living spaces, consumers are seeking furniture that can be easily folded and stored when not in use to maximize space utilization.

Asia Pacific dominated the global market for foldable furniture, accounting for an estimated 40.0% of the total market. Customers have been compelled to buy such furniture products by the expanding tendency of smaller apartments in cities like Japan, Tokyo, Shanghai, & India. Additionally, the prevalence of countries with the fewest homes per person in the region serves to favorably push the market for folding furniture. China had the largest average living area worldwide, at 646 square feet, while Hong Kong had the smallest, at 470 square feet. Also encouraging market progress in the region is a large concentration of producers, such as The PAN Emirates, Cost Plus Global Market, & Space Furniture Pte Ltd.