Research Nester assesses the growth of global foldable furniture market which is anticipated to be on account of the growing drift of rental housing and studio apartments in cosmopolitan cities across the globe.
New York – October 31, 2022 – Research Nester’s recent market research analysis on “Foldable Furniture Market: Global Demand Analysis & Opportunity Outlook 2033” delivers a detailed competitors analysis and a detailed overview of the global foldable furniture market in terms of market segmentation by product type, application, distribution channel, and by region.
Escalating Drift of Urbanization Throughout the World to Drive Growth of Global Foldable Furniture Market
The global foldable furniture market is estimated to grow majorly on account of the increasing inclination of urbanization among people, who migrate from distant rural or small cities towards big urban towns for pursuing education or to get job. Furthermore, a traction for more affluent life is another reason which is increasing the ratio of settling down in big cities. According to World Bank figures, cities now accommodate more than half of the world’s population. Urban population is predicted to be more than double to 6 billion by 2045.
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The market research report also includes other growth factors and challenges that are associated with the growth of the global foldable furniture market. Some of the major growth indicators are:
Growth Drivers:
Major Growth in Furniture Industry
Increasing Co-Living Vogue in Urban Cities
Challenges:
The rising amount of raw materials for furniture manufacturing, and increasing costs of coating and finishing are some of the major factors anticipated to hamper the growth of the global foldable furniture market. Despite of the numerous restraint factors associated with the growth of the market, Research Nester’s analysis indicates a robust growth for the market during the forecast period.
The market research report on global foldable furniture encompasses an in-depth analysis of the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends. These analyses help organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future. Additionally, the growth opportunities exposed by the market is poised to gain significant momentum in the next few years.
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By distribution channel, the global foldable furniture market is segmented into online, and offline. The offline segment is to garner a highest revenue by the end of 2033 by growing at a significant CAGR over the forecast period owing to the individual’s choice of buying the furniture by visiting a furniture store for precisely observe the dimensions and check the convertibility features of the furniture. In 2022, for instance, more than 45% of individuals globally purchased furniture and home décor items from offline stores.
By region, the Asia Pacific foldable furniture market is to generate the highest revenue by the end of 2033. This growth is anticipated by the accessibility of average living area space per person, and massively increasing population in urban cities.
The research is global in nature and covers detailed analysis on the foldable furniture market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising of global foldable furniture market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
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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 Kestell Furniture LLC, La-Z-Boy Incorporated, Bush Industries, Inc., Haworth, Inc., Inter IKEA Systems B.V., Lifetime Products, Inc., Expand Furniture Inc., Murphy Wall Beds Hardware Inc., Resource Furniture, LLC, Dorel Industries Inc., and others. 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.
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