“Foldable
Furniture Market: Global Demand Analysis & Opportunity Outlook 2024”
The global foldable furniture market
is segmented into product type such as chairs, tables, sofas, beds and essentials.
Further, growing e-commerce business and rising consumer preference for online
shopping in India are some of the key factors which are predicted to bolster
the growth of online store segment. Furthermore, consumers’ inclination towards
healthy life styles is a major factor which is increasing the consumption of
Global foldable furniture market
is expected to register a 7.5% CAGR over the forecast period. Moreover, the global
foldable furniture market is expected to reach at USD 13.2 Billion by the end
of 2024. The demand foldable furniture is rising due to a number of factors
such as increasing number of tiny houses and growing demand for multi-purpose furniture
across the globe. Furthermore, the demand for foldable furniture is increasing
due to growing trends such as one room challenge and home-office trends. Furthermore,
changing consumer life style and increasing number of peoples living in rented
apartments are also expected to drive the growth of foldable furniture market
in future.
The offline distribution
channel segment by distribution channel accounted for major share in 2016. Furthermore,
growing e-commerce business and rising consumer preference for online shopping
are some of the key factors which are predicted to bolster the growth of foldable
furniture market over the forecast period.
Rapid Urbanization
Increasing urbanization across the globe especially in
emerging countries is escalating the demand for foldable furniture. Increasing
number of smart apartments and growing advancements in foldable furniture such
as multi-purpose furniture, all in one furniture and automatic foldable furniture are the
major factors which are projected to propel the growth of foldable furniture
market in near future.
Rising Construction
Activities
Decline in living areas in
cities and increasing construction of small apartments in urban areas are
increasing the demand for foldable furniture. Furthermore, foldable furniture
offers space saving benefits which is expected to increase the demand for
foldable furniture over the forecast period.
However, high cost of foldable
furniture as compared to traditional furniture is likely to inhibit the growth
of the foldable furniture market in the near future.
The
report titled “Foldable Furniture Market : Global
Demand Analysis & Opportunity Outlook 2024”
delivers
detailed overview of the global foldable furniture market in terms of market
segmentation by product type, by application, by distribution channel and by
region.
Further,
for the in-depth analysis, the report encompasses the industry growth drivers,
restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s
five force model.
This report also provides the
existing competitive scenario of some of the key players of the global foldable
furniture market which includes company profiling of Lifetime Products, Inc., Expand Furniture, Resource Furniture, IKEA
Systems B.V., Cosco, Murphy Wall Beds Hardware Inc., Meco Corporation,
Guangdong Nova Furniture Co.Limited, Kestell Furniture Co. Inc. and Mogo Direct.
The profiling enfolds key information of the companies which encompasses
business overview, products and services, key financials and recent news and
developments. On the whole, the report depicts detailed overview of the global foldable
furniture market that will help industry consultants, equipment manufacturers,
existing players searching for expansion opportunities, new players searching
possibilities and other stakeholders to align their market centric strategies
according to the ongoing and expected trends in the future.
About Research
Nester
Research Nester is a leading service provider for
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decision so as to avoid future uncertainties.
Read more Information: https://www.researchnester.com/reports/foldable-furniture-market-global-demand-analysis-opportunity-outlook-2024/276
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