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The global folding furniture market was valued at US$ 3.84 Billion in 2021.
We expect the global folding furniture market to exhibit a CAGR of 4.60% during 2022-2027.
The sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination towards online retail platforms for the purchase of folding furniture, as it enables to create personalized working space at home, during remote working scenario.
The emerging trend of compact and integrated modular homes, along with the increasing consumer preference towards minimalist furniture designs, is primarily driving the global folding furniture market.
Based on the product type, the global folding furniture market can be categorized into tables and chairs, sofas, beds, and others. Among these, tables and chairs exhibit clear dominance in the market.
Based on the distribution channel, the global folding furniture market has been segmented into offline and online, where offline channel currently holds the largest market share.
Based on the application, the global folding furniture market can be bifurcated into residential and commercial. Currently, the residential sector accounts for the majority of the total market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global folding furniture market include Ashley Furniture Industries Inc., Dorel Industries Inc., Flexfurn limited, Haworth Inc. (Haworth International Ltd.), Hussey Seating Company, Inter IKEA Systems B.V. (Inter IKEA Holding B.V), Kestell Furniture LLC, La-Z-Boy Incorporated, Lifetime Products Inc., Meco Corporation, Murphy Wall Beds Hardware Inc, Nilkamal Furniture, and Sauder Woodworking Company.
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