Global Folding Furniture Market 2019-2023
About this market
Rising emphasis on eco-friendly foldable furniture to drive growth in the market. Significant concerns regarding environment preservation and global warming encouraged the use and manufacture of eco-friendly furniture, globally. Technavio’s analysts have predicted that the folding furniture market will register a CAGR of over 6% by 2023.
Increased demand for space saving furniture
The increased demand for this furniture is prominent among people residing in urban areas and metropolitan cities. Globally, the decreasing size of the apartment is increasing the demand for space saving furniture.
High fragmentation of the market
The global folding furniture market has a fragmented structure with the presence of multiple regional and international vendors, which is one of the major factors that are expected to restrict the growth of the market.
For the detailed list of factors that will drive and challenge the growth of the folding furniture market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies including Meco and Walmart the competitive environment is quite intense. Factors such as the rising emphasis on eco-friendly foldable furniture and the increased demand for space saving furniture, will provide considerable growth opportunities to folding furniture manufactures. Dorel Industries, La-Z-Boy, Lifetime Products, Meco, and Walmart are some of the major companies covered in this report."
Technavio Announces the Publication of its Research Report – Global Folding Furniture Market 2019-2023
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the rising emphasis on eco-friendly foldable furniture.”
According to the report, one of the major drivers for this market is the increased demand for space saving furniture.
Further, the report states that one of the major factors hindering the growth of this market is the high fragmentation of the market.
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