At 7.2% CAGR, the Europe Folding Furniture Market is Projected to be Worth US$ 1,539.76 million by 2030, says Business Market Insights

According to Business Market Insights research, the Europe folding furniture market was valued at US$ 946.23 million in 2023 and is expected to reach US$ 1,539.76 million by 2030, registering a CAGR of 7.2% from 2023 to 2030. Rising demand for portable, multi-functional, and space-saving furniture and rapid urbanization along with growing residential sector are the critical factors attributed to the Europe folding furniture market expansion.        

The real estate sector has witnessed high growth in recent times with rapid urbanization, structural economic changes, and shifts in consumer living patterns. The residential sector reports diverse housing needs and changing lifestyles. In addition, according to the European Union, Europe's level of urbanization is expected to increase to ∼83.7% by 2050. Growth of the residential sector, supported by positive government measures, promotes the demand for folding furniture in the regional market scenario. Rapid urbanization brings about dynamic living situations, with residential spaces often serving multiple purposes. Significant growth in the real estate & residential sector is attributed to the population rise and high demand for better living spaces. The prices of residential properties have risen considerably, leading to a reduction in home sizes. As available space is smaller, consumers prefer compact furnishings that efficiently suit the available space and requirements. Hence, the adoption of multi-functional folding furniture has gained traction in the recent past. The necessity to save and effectively utilize space while enhancing aesthetics has gained prominence. Rising preference toward economical, portable, and appealing furnishing, coupled with a willingness to spend on aesthetic furniture properties, strongly supports the growth of the folding furniture industry for the residential segment. Hence, it has ultimately pushed investments in better and advanced variants of folding furniture across the world. The shift in consumer spending toward better living, backed by a rise in per capita and disposable income, has augmented the Europe folding furniture market growth. Furthermore, a growing interest in traveling is also driving the market growth.

On the contrary, high cost of raw material hampers the Europe folding furniture market.  

Based on product type, the Europe folding furniture market is segmented into tables, chairs, sofas and beds, and others. The sofas and beds segment held 34.3% share of Europe folding furniture market in 2023, amassing US$ 324.67 million. It is projected to garner US$ 575.68 million by 2030 to expand at 8.5% CAGR during 2023–2030. 

Based on material, the Europe folding furniture market is segmented into wood, metal, and plastic. The wood segment held 49.3% share of Europe folding furniture market in 2023, amassing US$ 466.84 million. It is projected to garner US$ 730.62 million by 2030 to expand at 6.6% CAGR during 2023–2030.

Based on application, the Europe folding furniture market is segmented into residential, commercial, and others. The residential segment held 34.0% share of Europe folding furniture market in 2023, amassing US$ 321.72 million. It is projected to garner US$ 538.36 million by 2030 to expand at 7.6% CAGR during 2023–2030.

Based on distribution channel, the Europe folding furniture market is segmented into online and offline. The offline segment held 66.2% share of Europe folding furniture market in 2023, amassing US$ 626.42 million. It is projected to garner US$ 988.22 million by 2030 to expand at 6.7% CAGR during 2023–2030.

Based on country, the Europe folding furniture market has been categorized into the Germany, France, Italy, UK, Russia, and the Rest of Europe. Our regional analysis states that Germany captured 24.3% share of Europe folding furniture market in 2023. It was assessed at US$ 229.58 million in 2023 and is likely to hit US$ 400.60 million by 2030, exhibiting a CAGR of 6.5% during the forecast period.      

Key players operating in the Europe folding furniture market are Leggett & Platt Inc, Inter IKEA Holding BV, Hussey Seating Co, Maxchief Europe SL, Leisure N Pleasure SARL, and Dorel Industries Inc, among others.   

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