Report ID: SQMIG25F2057
Report ID:
SQMIG25F2057 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
62 |
Figures:
75
Asia Pacific dominated the global market for foldable furniture, accounting for an estimated 40.0% of the total market. Customers have been compelled to buy such furniture products by the expanding tendency of smaller apartments in cities like Japan, Tokyo, Shanghai, & India. Additionally, the prevalence of countries with the fewest homes per person in the region serves to favorably push the market for folding furniture. China had the largest average living area worldwide, at 646 square feet, while Hong Kong had the smallest, at 470 square feet. Also encouraging market progress in the region is a large concentration of producers, such as The PAN Emirates, Cost Plus Global Market, & Space Furniture Pte Ltd.
North America is anticipated to have the fastest CAGR of 7.2% during the forecast period. Due to their reduced utilization and demand for less living space, one- and two-person households are becoming more popular in American countries such as the U.S., Canada, & Mexico. Due to features like decreased space requirements, flexibility, & ease of transportation, space-saving furniture is becoming more and more popular in industrialized countries like the United Kingdom, Germany, and Britain. As a result, the market for folding furniture products in European countries has also increased. Thus, it is expected that during the anticipated time frame, these rising trends will increase demand for foldable furniture in both North America and Europe.
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Report ID: SQMIG25F2057