| Product Code: ETC371607 | Publication Date: Aug 2022 | Updated Date: Nov 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Ravi Bhandari | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
In the Singapore folding furniture market, the import trend showed a notable growth rate of 17.72% from 2023 to 2024, with a compound annual growth rate (CAGR) of 10.12% from 2020 to 2024. This substantial increase in imports can be attributed to a surge in demand for versatile and space-saving furniture solutions, reflecting evolving consumer preferences and lifestyle changes.
The folding furniture market in Singapore is set to grow as consumers seek space-saving and portable furniture options for versatile living and working environments. Folding furniture includes tables, chairs, and storage solutions that can be easily folded and stored when not in use. The market`s expansion is driven by urban living trends and the need for flexible and compact furniture solutions.
The growth of the Singapore folding furniture market is driven by factors such as space constraints in urban living, flexible furniture solutions, and innovations in folding furniture design. Folding furniture includes collapsible and space-saving pieces that can be easily stored or expanded as needed. Growth drivers encompass the demand for multifunctional and modular furniture for small living spaces, the availability of stylish and contemporary folding furniture designs, and applications in outdoor and event settings. As consumers seek versatile and adaptable furniture solutions, the folding furniture market is poised for growth, providing practical and space-efficient options for various settings.
The folding furniture market in Singapore faces challenges associated with design innovation and material quality. Consumers expect folding furniture to be versatile, space-saving, and aesthetically pleasing. Moreover, ensuring that folding furniture is made from durable and sustainable materials is vital to meet customer expectations and sustainability goals.
The folding furniture market in Singapore demonstrated resilience during the COVID-19 pandemic. With changing space requirements and the need for versatile furniture solutions, the market saw increased interest in folding furniture. Manufacturers adapted by offering space-saving and multi-functional folding furniture options. The pandemic emphasized the importance of adaptable and efficient home furnishings, influencing market strategies.
Key players like Cosco Home & Office Products, Inc., Lifetime Products, Inc., and IKEA Group dominate the Singapore folding furniture market by offering versatile and space-saving folding furniture solutions for homes and commercial spaces. Their commitment to functional design and space optimization makes them significant players in this field.