Folding furniture market
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How big will the folding furniture market be by 2025?
The market for folding furniture has grown steadily in recent years. It is estimated to grow from $10.53 billion in 2024 to $11.14 billion in 2025, at a CAGR of 5.8%. The historic rise has been supported by shrinking living space, an increase in single-person households, growing environmental awareness, demand for low-cost furniture and developments in online retail channels.
How big is the folding furniture market expected to grow by 2029?
Significant growth is forecast for the folding furniture market in the coming years. It is expected to reach $14.28 billion by 2029, representing a compound annual growth rate (CAGR) of 6.4%. Several factors are contributing to this projected growth, including the integration of smart homes, the increase in home offices, the expansion of residential and non-residential construction, urbanization and an increase in disposable income. Several trends are also expected during the forecast period, including advancements in material technology, increasing trend towards using sustainable and environmentally friendly materials, demand for portable and lightweight furniture, advancements in innovative folding methods, and integration of smart technology.
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What key market drivers are driving the expansion and growth of the folding furniture market?
The increasing importance of space utilization and home renovation is expected to drive the expansion of the folding furniture industry in the future. Home renovation involves upgrading, redecorating or modernizing an existing residential property to increase its functionality, aesthetics or value. Interest in home renovation is driven by factors such as personalization, property value, functionality, sustainability, lifestyle changes and housing stock condition. Folding furniture has become a popular choice in home renovations to enhance and expand both outdoor and indoor spaces, providing homeowners with practical and cozy places to relax, eat and entertain. For example, in January 2023, spending on housing improvement projects is expected to increase from $472 billion in 2022 to $485 billion in 2024, according to Harvard University's Joint Center for Housing Centers. Therefore, the increasing emphasis on space utilization and home renovation is driving the progress of the folding furniture industry.
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What fast-growing trends could revolutionize the folding furniture market?
Big players in the folding furniture industry are focusing on innovative designs such as stylish, foldable high-tech cockpit chairs for racing simulations. Designed specifically for racing simulation enthusiasts, these chairs combine technology with portability and robustness. For example, Logitech G of Switzerland and Playseat of the Netherlands presented the Playseat Challenge in September 2023. Constructed of lightweight, foldable carbon steel, the chair weighs just 11.6 kg (26 pounds) and features Playseat's ActiFit breathability, body-hugging design and adjustable stiffness for better comfort and thermal control for users.
What are the emerging segments in the folding furniture market?
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 sales channel: offline, online
4) By Application: Residential, Commercial
Sub-segments:
1) By Chairs: Folding Dining Chairs, Folding Lounge Chairs, Folding Rocking Chairs, Folding Camping Chairs, Folding Director Chairs
2) By tables: folding dining tables, folding coffee tables, folding work tables, folding picnic tables, folding side tables
3) By sofas: folding sofas, folding futons, folding sofas
4) By beds: folding beds (murphy beds), folding air beds, folding trundle beds
5) According to other product types: folding storage units, folding desks, folding room dividers, folding mattresses, folding shelves
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Who are the global leaders in the folding furniture market?
Major companies operating in the folding furniture market are Samsonite Corporation, Herman Miller Inc., Raymour & Flanigan, Haworth Inc., Dorel Industries, Lifetime Products Inc., Hooker Furnishings Corporation, Sauder Woodworking Co., Hussey Seating Company, Urban Ladder, National Public Seating, Resource Furniture, MECO Corp., Eurosteel Office Furniture, Murphy Wall Beds Hardware Inc., Gopak, CoscoProducts.com, Expand Furniture, Flexfurn, Nilkamal furniture, special seats
Which are the most profitable regional markets for the folding furniture industry?
Asia Pacific was the largest region in the folding furniture market in 2024. The regions covered in the folding furniture market report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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