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Folding Furniture Market by Product Type (Chairs, Tables, Sofas, Beds, and Other Furniture), Application (Residential and Commercial), and Distribution Channel (Offline and Online) - Global Opportunity Analysis and Industry Forecast, 2014-2022

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Pages: 110
Jan 2017 | 2918 Views
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Author's : Yogiata Sharma & Mugdha Potdar
Tables: 43
Charts: 61
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Folding Furniture Market Overview:

Folding Furniture Market is projected to grow at a CAGR of 6.8% from 2016 to 2022, to reach $13 billion by 2022. Adoption of folding furniture is on a rise in most populous cities of the world, namely, Tokyo, Beijing, New York, and Delhi owing to increase in the number of smaller homes. This category of furniture takes into account economy of space and its demand is expected to gain popularity among customers throughout the forecast period.

Rapid pace of urbanization, adoption of co-living trend in the U.S., and growth in real estate market influence the folding furniture industry. In the U.S., a growing trend of millennials opting for rented apartment has been observed, who are more inclined towards affordable, multifunctional, and smaller furniture that suits their urban and dynamic lifestyles.

The folding furniture manufacturers are trying to cater to the metropolitan ways of life of consumers and are looking forward to add more appealing features to furniture. To cater to the needs of consumers seeking furniture that easily get transformed from work to living mode, the market players are widening their product portfolio. Their furniture offerings are now more focused towards being light-weight, easy to tuck in, aesthetically appealing, and ergonomically contoured, thus supplementing the growth of folding furniture market.

The folding furniture market is analyzed based on product type, application, and distribution channel. Based on product type, it is classified into chairs, tables, sofas, beds, and other furniture. The application segment comprises foldable furniture used for residential as well as for commercial purpose. Based on distribution channel, foldable furniture is sold through offline and online sales channels. Moreover, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, Australia and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and Rest of LAMEA).

Market segmentation

 

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Asia-Pacific: Dominant market for foldable furniture

It is observed that increased number of youngsters tend to move to large cities for better opportunities. This phenomenon gradually decreases the average living area as well as increases the cost of houses. For instance, in Beijing, the average living area available per person is only 21 square meters. Therefore, transforming furniture is the best suitable option to solve such a problem. Cities like Beijing possess high growth potential for this market. Urbanization is other factor that drives the folding furniture market growth as it decreases the average living space and increases the value of available limited space, where space saving furniture is the most suited option. Mumbai, Kolkata, Karachi, and Shenzhen are other cities that possess high growth potential.

Furniture manufacturers are taking efforts to innovate their furniture products pertaining to the needs of consumers. For instance, wall bed that is designed to offer space saving solution for tiny houses and studio apartments is very easy to pull down and push back to the wall. Another example of such type of furniture includes bookshelves that transform into beds and coffee tables that convert into dining tables.
To gain market share, manufacturers such as IKEA have planned to open their first store in India and increase their distribution in China. In addition, growth of online retailing also supports market growth.

Asia-Pacific folding furniture market revenue, 2014-2022 ($million)

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Increase in raw material prices is expected to hamper folding furniture market growth

Manufacturers of furniture have seen an increase in raw material (steel, wood, foam, leather) prices in the recent years. In addition, cost of coatings and finishing has also increased, which has resulted in price hike for steel furniture in the U.S. and China. Moreover, prices are high for fibers and foams as well, which may also hamper the market growth.

To mitigate such a situation, manufacturers have cut their costs and added new equipment and techniques to obtain efficient output. This factor is expected to have a long-term effect on the market as it is not predictable the duration for which the raw material prices would remain high.

Key Benefits

  • The study provides an in-depth analysis of the global folding furniture market, with current trends and future estimations to elucidate the imminent investment pockets.

  • It presents a quantitative analysis from 2014 to 2022, which is expected to enable the stakeholders to capitalize on prevailing market opportunities.

  • Actual historical figures for 2014 and 2015 and provides forecasts for 2016 to 2022, considering 2015 as base, are listed.

  • Competitive intelligence highlights the business practices followed by leading players across various regions.

FOLDING FURNITURE MARKET KEY SEGMENTS

BY PRODUCT TYPE

  • Chairs

  • Tables

  • Sofas

  • Beds

  • Other furniture

BY APPLICATION

  • Residential

  • Commercial

BY DISTRIBUTION CHANNEL

  • Offline

  • Online

BY GEOGRAPHY

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • France

    • Italy

    • UK

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • Rest of Asia-Pacific

  • LAMEA

    • Brazil

    • Saudi Arabia

    • South Africa

    • Rest of LAMEA

MARKET PLAYERS IN THE VALUE CHAIN

  • Meco Corporation

  • Dorel Industries Inc.

  • Inter Ikea Systems B.V.

  • Bush Industries, Inc.

  • Sauder Woodworking Company

  • La-Z-Boy Inc.

  • Leggett & Platt Inc.

  • Haworth Inc.

  • Lifetime Products Inc.

  • Resource Furniture

  • Expand Furniture

  • Murphy Wall Beds Hardware Inc.

  • Ashley Furniture Industries

  • Flexsteel Industries, Inc.

 

Chapter: 1 INTRODUCTION

1.1. Report Description
1.2. Key Benefits
1.3. Key Market Segments
1.4. Research Methodology

1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models

Chapter: 2 EXECUTIVE SUMMARY

2.1. CXO Perspective

Chapter: 3 MARKET OVERVIEW

3.1. Market Definition and Scope
3.2. Key Findings

3.2.1. Top impacting factors
3.2.2. Top winning strategies
3.2.3. Top investment pockets

3.3. Porters Five Forces Analysis
3.4. Market Share Analysis, 2015
3.5. Market Dynamics

3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities

Chapter: 4 FOLDING FURNITURE MARKET BY PRODUCT TYPE, 2014-2022 ($MILLION)

4.1. Overview

4.1.1. Market Size and Forecast

4.2. Chairs

4.2.1. Key market trends, growth factors and opportunities
4.2.2. Market size and forecast

4.3. Tables

4.3.1. Key market trends, growth factors and opportunities
4.3.2. Market size and forecast

4.4. Sofas

4.4.1. Key market trends, growth factors and opportunities
4.4.2. Market size and forecast

4.5. Beds

4.5.1. Key market trends, growth factors and opportunities
4.5.2. Market size and forecast

4.6. Other Furniture

4.6.1. Key market trends, growth factors and opportunities
4.6.2. Market size and forecast

Chapter: 5 FOLDING FURNITURE MARKET BY APPLICATION, 2014-2022 ($MILLION)

5.1. Overview

5.1.1. Market size and forecast

5.2. Residential

5.2.1. Key market trends, growth factors and opportunities
5.2.2. Market size and forecast

5.3. Commercial

5.3.1. Key market trends, growth factors and opportunities
5.3.2. Market size and forecast

Chapter: 6 FOLDING FURNITURE MARKET, BY DISTRIBUTION CHANNEL, 2014-2022 ($MILLION)

6.1. Overview

6.1.1. Market size and forecast

6.2. Offline

6.2.1. Key market trends, growth factors and opportunities
6.2.2. Market size and forecast

6.3. Online

6.3.1. Key market trends, growth factors and opportunities
6.3.2. Market size and forecast

Chapter: 7 FOLDING FURNITURE MARKET, BY GEOGRAPHY, 2014-2022 ($MILLION)

7.1. Overview

7.1.1. Market size and forecast

7.2. North America

7.2.1. Key market trends, growth factors and opportunities
7.2.2. Market size and forecast

7.2.2.1. U.S.
7.2.2.2. Canada
7.2.2.3. Mexico

7.3. Europe

7.3.1. Key market trends
7.3.2. Market size and forecast

7.3.2.1. UK
7.3.2.2. France
7.3.2.3. Germany
7.3.2.4. Italy
7.3.2.5. Rest of Europe

7.4. Asia-Pacific

7.4.1. Key market trends
7.4.2. Market size and forecast

7.4.2.1. China
7.4.2.2. Japan
7.4.2.3. India
7.4.2.3. Australia
7.4.2.4. Rest of Asia-Pacific

7.5. LAMEA (Latin America, Middle East, and Africa)

7.5.1. Key market trends
7.5.2. Market size and forecast

7.5.2.1. Brazil
7.5.2.2. Saudi Arabia
7.5.2.3. South Africa
7.5.2.4. Rest of LAMEA

Chapter: 8 RELATED INDUSTRY INSIGHTS

8.1. Engineered wood market

8.1.1. Executive summary

8.2. Hydraulic actuators market

8.2.1. Executive summary

Chapter: 9 COMPANY PROFILES

9.1. Meco Corporation

9.1.1. Company overview
9.1.2. Operating business segments
9.1.3. Business performance
9.1.4. Key strategic moves & developments

9.2. Dorel Industries Inc.

9.2.1. Company overview
9.2.2. Operating business segments
9.2.3. Business performance
9.2.4. Key strategic moves & developments

9.3. Inter Ikea Systems B.V.

9.3.1. Company overview
9.3.2. Operating business segments
9.3.3. Business performance
9.3.4. Key strategic moves & developments

9.4. Sauder Woodworking Company

9.4.1. Company overview
9.4.2. Operating business segments
9.4.3. Business performance
9.4.4. Key strategic moves & developments

9.5. Bush Industries, Inc.

9.5.1. Company overview
9.5.2. Operating business segments
9.5.3. Business performance
9.5.4. Key strategic moves & developments

9.6. Haworth Inc.

9.6.1. Company overview
9.6.2. Operating segments
9.6.3. Business performance
9.6.4. Key strategic moves & developments

9.7. Lifetime Products Inc.

9.7.1. Company overview
9.7.2. Operating segments
9.7.3. Business performance
9.7.4. Key strategic moves & developments

9.8. Resource Furniture

9.8.1. Company overview
9.8.2. Operating business segments
9.8.3. Business performance
9.8.4. Key strategic moves & developments

9.9. Expand Furniture

9.9.1. Company overview
9.9.2. Operating segments
9.9.3. Business performance
9.9.4. Key strategic moves & developments

9.10. Murphy Wall Beds Hardware Inc.

9.10.1. Company overview
9.10.2. Operating business segments
9.10.3. Business performance
9.10.4. Key strategic moves & developments

Other players in the value chain include:

  • Ashley Furniture Industries
  • Flexsteel Industries, Inc.
  • Home Depot, Inc.
  • La-Z-Boy Inc.
  • Leggett & Platt Inc.

*Profiles of these players are not included. The same will be included on request

List of Tables

TABLE 1. FOLDING FURNITURE MARKET BY PRODUCT TYPE, 2014-2022 ($MILLION)
TABLE 2. CHAIRS MARKET REVENUE BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 3. TABLES MARKET REVENUE BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 4. SOFAS MARKET REVENUE BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 5. BEDS MARKET REVENUE BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 6. OTHER FURNITURE MARKET REVENUE BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 7. FOLDING FURNITURE MARKET BY APPLICATION, 2014-2022 ($MILLION)
TABLE 8. FOLDING FURNITURE MARKET FOR RESIDENTIAL APPLICATION BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 9. FOLDING FURNITURE FOR COMMERCIAL APPLICATION BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 10. OFFLINE CHANNELS FOLDING FURNITURE MARKET REVENUE BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 11. ONFLINE CHANNEL FOLDING FURNITURE MARKET REVENUE BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 12. NORTH AMERICA: FOLDING FURNITURE BY PRODUCT TYPE, 2014-2022 ($MILLION)
TABLE 13. NORTH AMERICA: FOLDING FURNITURE BY APPLICATION, 2014-2022 ($MILLION)
TABLE 14. NORTH AMERICA: FOLDING FURNITURE MARKET BY DISTRIBUTION CHANNELS, 2014-2022 ($MILLION)
TABLE 15. EUROPE: FOLDING FURNITURE BY PRODUCT TYPE, 2014-2022 ($MILLION)
TABLE 16. EUROPE: FOLDING FURNITURE BY APPLICATION, 2014-2022 ($MILLION)
TABLE 17. EUROPE: FOLDING FURNITURE MARKET BY DISTRIBUTION CHANNELS, 2014-2022 ($MILLION)
TABLE 18. ASIA-PACIFIC: FOLDING FURNITURE BY PRODUCT TYPE, 2014-2022 ($MILLION)
TABLE 19. ASIA-PACIFIC: FOLDING FURNITURE BY APPLICATION, 2014-2022 ($MILLION)
TABLE 20. ASIA-PACIFIC: FOLDING FURNITURE MARKET BY DISTRIBUTION CHANNELS, 2014-2022 ($MILLION)
TABLE 21. LAMEA: FOLDING FURNITURE BY PRODUCT TYPE, 2014-2022 ($MILLION)
TABLE 22. LAMEA: FOLDING FURNITURE BY APPLICATION, 2014-2022 ($MILLION)
TABLE 23. LAMEA: FOLDING FURNITURE MARKET BY DISTRIBUTION CHANNELS, 2014-2022 ($MILLION)
TABLE 24. MECO CORPORATION: COMPANY SNAPSHOT
TABLE 25. MECO CORPORATION: OPERATING SEGMENTS
TABLE 26. DOREL INDUSTRIES INC.: COMPANY SNAPSHOT
TABLE 27. DOREL INDUSTRIES INC.: OPERATING SEGMENTS
TABLE 28. INTER IKEA SYSTEMS B.V.: COMPANY SNAPSHOT
TABLE 29. INTER IKEA SYSTEMS B.V.: OPERATING SEGMENTS
TABLE 30. SAUDER WOODWORKING COMPANY: COMPANY SNAPSHOT
TABLE 31. SAUDER WOODWORKING COMPANY: OPERATING SEGMENTS
TABLE 32. BUSH INDUSTRIES, INC.: COMPANY SNAPSHOT
TABLE 33. BUSH INDUSTRIES, INC.: OPERATING SEGMENTS
TABLE 34. HAWORTH INC.: COMPANY SNAPSHOT
TABLE 35. HAWORTH INC.: OPERATING SEGMENTS
TABLE 36. LIFETIME PRODUCTS INC.: COMPANY SNAPSHOT
TABLE 37. LIFETIME PRODUCTS INC.: OPERATING SEGMENTS
TABLE 38. RESOURCE FURNITURE: COMPANY SNAPSHOT
TABLE 39. RESOURCE FURNITURE: OPERATING SEGMENTS
TABLE 40. EXPAND FURNITURE: COMPANY SNAPSHOT
TABLE 41. EXPAND FURNITURE: OPERATING SEGMENTS
TABLE 42. MURPHY WALL BEDS HARDWARE INC.: COMPANY SNAPSHOT
TABLE 43. MURPHY WALL BEDS HARDWARE INC.: OPERATING SEGMENTS

List of Figures

FIGURE 1. TOP IMPACTING FACTORS
FIGURE 2. TOP WINNING STRATEGIES
FIGURE 3. TOP INVESTMENT POCKETS
FIGURE 4. PORTERS FIVE FORCES ANALYSIS
FIGURE 5. COMPARATIVE MARKET SHARE ANALYSIS OF FOLDING FURNITURE MARKET BY PRODUCT TYPE, 2015 & 2022 (%)
FIGURE 6. MARKET SHARE ANALYSIS OF CHAIRS MARKET BY GEOGRAPHY, 2015 & 2022 (%)
FIGURE 7. CHAIRS MARKET REVENUE, 2014-2022($ MILLION)
FIGURE 8. MARKET SHARE ANALYSIS OF TABLES BY GEOGRAPHY, 2015 & 2022(%)
FIGURE 9. TABLES MARKET REVENUE, 2014-2022($ MILLION)
FIGURE 10. MARKET SHARE ANALYSIS OF SOFAS BY GEOGRAPHY, 2015 & 2022(%)
FIGURE 11. SOFAS MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 12. MARKET SHARE ANALYSIS OF BEDS BY GEOGRAPHY, 2015 & 2022(%)
FIGURE 13. BEDS MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 14. MARKET SHARE ANALYSIS OF OTHER FURNITURE BY GEOGRAPHY, 2015 & 2022(%)
FIGURE 15. OTHER FURNITURE MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 16. COMPARATIVE MARKET SHARE ANALYSIS OF FOLDING FURNITURE MARKET BY APPLICATION, 2015 & 2022 (%)
FIGURE 17. MARKET SHARE ANALYSIS OF FOLDING FURNITURE MARKET FOR RESIDENTIAL APPLICATION BY GEOGRAPHY, 2015 & 2022 (%)
FIGURE 18. FOLDING FURNITURE MARKET REVENUE FOR RESIDENTIAL APPLICATION, 2014-2022($ MILLION)
FIGURE 19. MARKET SHARE ANALYSIS OF FOLDING FURNITURE MARKET FOR COMMERCIAL APPLICATION BY GEOGRAPHY, 2015 & 2022 (%)
FIGURE 20. FOLDING FURNITURE MARKET REVENUE FOR COMMERCIAL APPLICATION, 2014-2022($ MILLION)
FIGURE 21. COMPARATIVE MARKET SHARE ANALYSIS OF FOLDING FURNITURE MARKET BY DISTRIBUTION CHANNEL, 2015 & 2022 (%)
FIGURE 22. MARKET SHARE ANALYSIS OF OFFLINE CHANNEL FOLDING FURNITURE MARKET BY GEOGRAPHY, 2015 & 2022 (%)
FIGURE 23. FOLDING FURNITURE MARKET REVENUE BY OFFLINE CHANNEL, 2014-2022($ MILLION)
FIGURE 24. MARKET SHARE ANALYSIS OF ONLINE CHANNEL FOLDING FURNITURE MARKET BY GEOGRAPHY, 2015 & 2022 (%)
FIGURE 25. FOLDING FURNITURE MARKET REVENUE BY ONLINE CHANNEL, 2014-2022($ MILLION)
FIGURE 26. COMPARATIVE MARKET SHARE ANALYSIS OF FOLDING FURNITURE MARKET BY GEOGRAPHY, 2015 & 2022 (%)
FIGURE 27. NORTH AMERICA FOLDING FURNITURE MARKET ANALYSIS BY COUNTRY, 2015 & 20122 ($MILLION)
FIGURE 28. NORTH AMERICA FOLDING FURNITURE MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 29. U.S.: FOLDING FURNITURE MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 30. CANADA: FOLDING FURNITURE MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 31. MEXICO: FOLDING FURNITURE MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 32. EUROPE FOLDING FURNITURE MARKET ANALYSIS BY COUNTRY, 2015 & 20122 ($MILLION)
FIGURE 33. EUROPE FOLDING FURNITURE MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 34. UK: FOLDING FURNITURE MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 35. FRANCE: FOLDING FURNITURE MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 36. GERMANY: FOLDING FURNITURE MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 37. ITALY: FOLDING FURNITURE MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 38. REST OF EUROPE: FOLDING FURNITURE MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 39. ASIA-PACIFIC FOLDING FURNITURE MARKET ANALYSIS BY COUNTRY, 2014 $ 20122 ($MILLION)
FIGURE 40. ASIA-PACIFIC FOLDING FURNITURE MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 41. CHINA: FOLDING FURNITURE MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 42. JAPAN: FOLDING FURNITURE MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 43. INDIA: FOLDING FURNITURE MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 44. AUSTRALIA: FOLDING FURNITURE MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 45. REST OF ASIA-PACIFIC: FOLDING FURNITURE MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 46. LAMEA FOLDING FURNITURE MARKET ANALYSIS, 2014 $ 20122 ($MILLION)
FIGURE 47. LAMEA FOLDING FURNITURE MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 48. BRAZIL: FOLDING FURNITURE MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 49. SAUDI ARABIA: FOLDING FURNITURE MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 50. SOUTH AFRICA: FOLDING FURNITURE MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 51. REST OF LAMEA: FOLDING FURNITURE MARKET REVENUE, 2014-2022 ($MILLION)
FIGURE 52. MECO CORPORATION: COMPANY SNAPSHOT
FIGURE 53. DOREL INDUSTRIES INC.: COMPANY SNAPSHOT
FIGURE 54. INTER IKEA SYSTEMS B.V.: COMPANY SNAPSHOT
FIGURE 55. SAUDER WOODWORKING COMPANY: COMPANY SNAPSHOT
FIGURE 56. BUSH INDUSTRIES, INC.: COMPANY SNAPSHOT
FIGURE 57. HAWORTH INC.: COMPANY SNAPSHOT
FIGURE 58. LIFETIME PRODUCTS INC.: COMPANY SNAPSHOT
FIGURE 59. RESOURCE FURNITURE: COMPANY SNAPSHOT
FIGURE 60. EXPAND FURNITURE: COMPANY SNAPSHOT
FIGURE 61. MURPHY WALL BEDS HARDWARE INC.: COMPANY SNAPSHOT

 

The growing population has resulted in increase in demand for space and resources, both of which is getting scarce. Major effects of the same can be witnessed in urban cities, wherein the accommodations are getting smaller to contain the increasing populace. Transforming furniture is one such solution that makes better and efficient use of the available space.

Furniture of this category can be convertible, transformable, and/or collapsible. One can configure this furniture in different ways to cater to their outdoor and indoor needs. For instance, a bed platform can be folded against a wall or turned into desk. As a result, this furniture is ideal for homes, hospitals, offices, second homes, community centers, and most commonly for compact spaces.

The rapid pace of urbanization, increase in single and dual living households, and the growing trend of classy yet compact furniture for enhancing the overall household aesthetics, support the adoption of folding furniture. Additionally, minimal use of sustainable material and online retailing of foldable furniture also boosts the market demand among the various income groups.

In 2015, Asia-Pacific region captured the maximum market share of folding furniture market and is anticipated to dominate over the forecast period. Growing urban population and rising growth of real estate has intensified the growth of the region over the past few years.

To support the rising need of folding furniture, manufacturers are taking efforts to develop furniture tailored to the needs of individuals. Design and assembly innovation led by both existing market players as well as startup offer attractive proposition for the buyers.

 

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