The global folding furniture products market was valued at USD 43.2 billion in 2022 and is projected to expand at a CAGR of 9.3% from 2023 to 2030. Folding furniture products are gaining traction due to their portability and convenience. As the population continues to grow, the demand for space-saving furniture is increasing, which is expected to propel the growth of the market. Furthermore, advancements in materials and technologies in the production of folding furniture products is creating new opportunities for the market. Folding furniture is being used for a variety of purposes, such as camping, picnics, beach trips, and outdoor parties, as they are lightweight and easy to transport.

The increasing popularity of homesharing platforms such as Airbnb is driving the demand for folding furniture products. This is because folding furniture offers a degree of flexibility, as it can be easily transported and stored when not in use. Additionally, manufacturers are focusing on developing innovative designs of folding furniture products that are stylish and modern. For instance, in August 2021, IKEA launched a range of foldable furniture, including chairs, tables, and sofas. The range is designed to provide a modern, minimalist look and is perfect for small spaces.

In addition, the increasing demand for folding furniture products for commercial use is fueling the market growth. Folding furniture products are becoming increasingly popular in the hospitality industry, due to their portability and ease of storage. Moreover, the increasing number of events such as conferences and trade shows is also boosting the demand for folding furniture products. For instance, in April 2021, the Singapore Exhibition and Convention Centre (SECC) launched a range of foldable furniture, including chairs and tables for events.

Furthermore, the rising demand for eco-friendly furniture products, such as bamboo chairs and other bamboo furniture, is expected to drive the market growth. Bamboo is a renewable and sustainable material, as it is easily replenished and harvested without damaging the environment. Additionally, the increasing popularity of smart furniture is also boosting the growth of the market. For instance, in March 2021, the French furniture company Alinéa launched a range of folding chairs with built-in speakers and LED lighting. This type of furniture allows users to customize their environment and is gaining traction among consumers.

The folding tables segment is estimated to account for the largest share of the folding furniture market in 2022. Increasing demand for lightweight furniture that is easy to move, store, and transport is driving the growth of the segment. Growing preference for multifunctional furniture among consumers and increasing awareness regarding the benefits of folding furniture such as space saving and durability are also driving the market growth. According to an article published by Business Insider, in November 2019, the demand for folding furniture is expected to grow at a rapid pace in the coming years.

The folding chairs segment is expected to witness the fastest growth over the forecast period. Growing demand for folding chairs due to their lightweight and portability, increasing sales of folding chairs through online channels, and rising trend of organizing outdoor events and parties are some of the major factors driving the market growth. The availability of a wide range of folding chairs made of different materials such as wood, plastic, and metal is further propelling the demand for folding chairs in the market.

The supermarkets and hypermarkets segment held the largest share of the folding furniture market in 2022. This segment is driven by the rising consumer inclination towards supermarkets & hypermarkets as the primary source to purchase furniture products. Supermarkets & hypermarkets provide a wide range of folding furniture products, which help consumers to make quick purchasing decisions. In addition, supermarkets & hypermarkets also benefit from the presence of in-store demonstrators, which provides customers with a better understanding of the product features and benefits.

The online segment is projected to register the highest CAGR of 16.6% during the forecast period. The growth of the segment is mainly driven by the growing adoption of e-commerce platforms to purchase furniture products. Moreover, the presence of various online stores such as Amazon and Flipkart, which provide discounts, cashback offers, and easy payment methods are also driving the growth of the segment. In addition, the increasing availability of custom furniture options and same-day delivery services is further driving the demand for folding furniture products from online stores.

The folding furniture market is segmented into metal and plastic. Over the forecast period, the metal segment is likely to expand at the highest CAGR of 10.4%. The increasing adoption of metal folding furniture by consumers for outdoor activities, such as picnics, camping, and beach days, is driving the demand for the segment. The metal folding furniture is available in various sizes, shapes, and colors that make them more attractive and comfortable to use. Also, the increasing number of recreational activities is driving the demand for metal folding furniture products.

The plastic segment is likely to remain dominant over the forecast period. The increasing availability of plastic folding furniture in various designs and colors is driving the demand for the segment. The plastic folding furniture is lightweight, durable, and easy to clean, which makes it a preferred choice of consumers. Furthermore, the ease of storage and transportation of plastic folding furniture is driving the segment growth. Also, the low cost and high durability of plastic folding furniture is propelling the demand for the products.

Europe is expected to account for the largest share of the market due to the presence of prominent companies, such as Ikea, which designs and manufactures folding furniture. Additionally, the region is witnessing rising demand for such products from hospitality, healthcare, and education sectors. For instance, in October 2021, Folding Furniture UK launched a range of folding furniture for the hospitality industry.

The Asia Pacific is anticipated to witness the highest growth in the coming years. This is attributed to the presence of numerous small-scale players offering competitively priced products. Additionally, the rising demand from the hospitality and education sectors, along with increasing disposable income in the region, is expected to fuel the growth of the market. Furthermore, the presence of prominent players in the region is expected to drive the market. For instance, in August 2021, the Japanese company, Miyata Corporation, announced the launch of its new folding furniture series.

In this part of the folding furniture products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your folding furniture products. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main sources of revenue for a folding furniture products business come from sales of the products, and additional services such as installation, delivery, and repair. You may also consider other sources of income such as leasing the products or offering custom furniture designs.

Projecting Expenses
In this section, all the regular expenses related to keeping the folding furniture products business running will be described. The list of operating expenses includes employee wages, rent, utility bills, insurance, advertising and marketing, research and development, and others.

Some of the major companies operating in the folding furniture market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In August 2022, IKEA launched a range of stylish and space-saving folding furniture for small apartments.

– In June 2022, The Container Store launched a range of folding furniture which can be used as a bed, chair, and table.

– In October 2022, Target Corporation launched a range of folding furniture that can be used for both indoor and outdoor applications.

Some of the prominent players in the folding furniture market include:

– IKEA
– The Container Store
– Target Corporation
– Walmart
– Wayfair
– Bed Bath & Beyond
– Home Depot
– Lowe’s
– Cost Plus World Market
– Crate & Barrel

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global folding furniture products market based on product type, distribution channel, material, and region:

1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)

– Tables
– Chairs
– Sofas
– Beds
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Offline
– Online

3. Material Outlook (Revenue, USD Million, 2017 – 2030)

– Metal
– Wood
– Plastic
– Others

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What are the Key Drivers of the Folding Furniture Products Market?
[A]: The key drivers of the folding furniture products market include the increasing demand for portable furniture, rising population, urbanization, and changing lifestyle. Moreover, increasing awareness about the benefits of folding furniture such as its portability, space saving, and cost-effectiveness are further driving the growth of the folding furniture products market.

[Q]: What Are the Key Opportunities in the Folding Furniture Products Market?
[A]: The folding furniture products market is expected to witness high growth opportunities due to the increasing adoption of furniture in commercial and residential spaces. Moreover, the growing awareness of ergonomics in furniture design, the increasing emphasis on multifunctional furniture, and the growing popularity of sustainable and eco-friendly furniture are some of the major opportunities for the folding furniture products market.

[Q]: Who are the Major Players in the Folding Furniture Products Market?
[A]: Some of the major players in the Folding Furniture Products Market include IKEA Group, Steelcase, Herman Miller, Inc., HNI Corporation, Ashley Furniture Industries, Inc., Haworth, Inc., Kimball International, Inc., Knoll, Inc., Steelcase, and Herman Miller, Inc.

[Q]: What Technologies are Driving the Folding Furniture Products Market?
[A]: Technologies such as 3D printing, robotic technology, and augmented reality are enabling the production of customised and sustainable furniture. Such advancements are expected to drive the growth of the folding furniture products market. Moreover, the integration of analytics and machine learning with folding furniture is further expected to drive the market in the future.