Growing demand for compact and multi-functional furniture and rising construction in residential sector are expected to drive the growth of the India folding furniture market.
According to TechSci Research report, “India Folding Furniture Market - By Region, Competition Forecast & Opportunities, 2018-2028,” the India Folding Furniture market is expected to grow during the forecast period due to several factors such as the shifting trend towards small-sized apartments and the increasing trend of co-living among millennials. Folding furniture can be arranged in a way that takes up less space. It is largely being favored in smaller homes. When not in use, it can be folded and then used, just like any other piece of furniture. Due to its durability, folding furniture constructed of wood or a similar material is increasingly popular. Among other things, these objects include sofas, beds, tables, and seats. Due to their versatility, folding chairs dominate the market.
The main factor driving the growth of folding furniture market in India is the rise in compact rooms and buildings, which is brought on by an increase in storage and sleeping space usage. The foldable furniture consists of desks, beds, tables, and chairs. Due to distinctive qualities including cost, light weight, and user-friendliness, the market for folding furniture has been increasing. The industry is expanding as a result of the increased demand for low-maintenance interior furnishings.
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Furniture solutions that save space are frequently more useful practically than traditional furniture. For instance, the top of a traditional dining table might be made of wood or glass. It requires upkeep of the wood or glass and is very difficult to move. Furniture solutions that save space are frequently more useful practically than traditional furniture. For instance, the top of a traditional dining table might be made of wood or glass. It requires upkeep of the wood or glass and is very difficult to move.
Despite the economy of space, their demand is anticipated to rise during the forecast period, and they are anticipated to be a preferred choice among customers. Rapid urbanization and real estate market expansion have an impact on the folding furniture sector in India. Renting out apartments is becoming more and more popular among millennials, as has been seen. They have a greater preference for less expensive, more versatile, and compact furniture that fits their urban, active lifestyles.
The manufacturers of foldable furniture are working to make their products more appealing to consumers and more in line with their urban lifestyles. Market competitors are expanding their product portfolios to meet the demands of consumers looking for furniture that can easily transition from work mode to living mode. Their furniture options now have a greater emphasis on being lightweight, simple to tuck away, aesthetically pleasing, and scientifically shaped, supporting the expansion of the market for folding furniture.
The India Folding Furniture Market is segmented based on product type, end user, distribution channel, region, and company. Based on product type, the market is further segmented into chairs, tables, sofas, and beds. Among these segments folding chair is the fastest growing segment owing to their versatility and necessity. The growing consumer preference for wooden furniture to add aesthetic value has led to an increase in the production of folding furniture in the market.
Based on end user, the India folding furniture market is segmented into residential, and commercial. Among these segments residential is the fastest growing segment due to increasing usage of folding furniture such as chairs and sofas etc., and rise in compact rooms in the residential sector.
Based on distribution channel, the market is further segmented into furniture retail outlets, supermarket & hypermarket, home décor shops, dealers/agents, others (wholesales, distributors,). Based on the region the market is further segmented into North, South, East and West.
Key market players in the India Folding Furniture market include:
- Godrej and Boyce Manufacturing Company Limited
- Nilkamal Limited
- IKEA India Private Limited
- Ashley Furniture
- Pepperfry Limited
- The Wooden Street Furniture Private Limited Krini Furniture Pvt Ltd.
- Homevista Decor and Furnishings Pvt. Ltd
- Etsystore Private Limited
- Ribbonic Wallbed
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“The growing demand for multifunctional and compact furniture is expected to drive the folding furniture market in India. People's rising disposable income and ever-changing lifestyles are some of the factors driving the folding furniture market in India. Other significant factors, such as increased public awareness of e-commerce platforms and increased urbanization across the country, will accelerate market growth. Furthermore, the significant increase in construction activities and the emergence of new markets will accelerate market growth in the future," said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“India Folding Furniture Market By Product Type (Chairs, Tables, Sofas, and Beds), By End User (Residential, Commercial), By Distribution Channel (Furniture Retail Outlets, Supermarket & Hypermarket, Home Décor Shops, Dealers/AgentsOthers (Wholesales, Distributors,), By Region, Competition Forecast and Opportunities, 2018-2028F,” has evaluated the future growth potential of India folding furniture market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the India folding furniture market.
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