At 5.6% CAGR, the Middle East & Africa Folding Furniture Market is Projected to be Worth US$ 276.11 million by 2030, says Business Market Insights

According to Business Market Insights research, the Middle East & Africa folding furniture market was valued at US$ 189.13 million in 2023 and is expected to reach US$ 276.11 million by 2030, registering a CAGR of 5.6% from 2023 to 2030. Rapid advancements in folding furniture and adoption of eco-friendly materials are among the critical factors attributed to the Middle East & Africa folding furniture market expansion.        

There has been an increase in the production of eco-friendly furniture products and materials to cater to the trend toward sustainability and meet the demand for folding furniture across residential facilities, hotels, resorts, and other spaces. Also, with strong research and development activities, various furniture manufacturers are adopting eco-friendly raw materials for the furniture production. Inter IKEA plans to use only renewable and recycled materials in its products by 2030. Due to the environmental changes and the negative impact of deforestation, interior designers are opting for green designs. Therefore, the rise in preference for environment-friendly and sustainable products is expected to propel the demand for folding furniture produced using eco-friendly materials. Accordingly, several vendors in the market are deploying the use of green solutions to promote sustainability. Also, the use of sustainable materials to produce folding furniture is well-aligned with government norms and regulations, which will positively impact the Middle East & Africa folding furniture market growth in the coming years. Furthermore, the use of such eco-friendly materials is perceived to improve the aesthetic appeal and the durability of folding furniture in the long run. Hence, the growing demand for environment-friendly folding furniture is expected to become a significant trend during the forecast period.

On the contrary, high cost of raw material hampers the Middle East & Africa folding furniture market.  

Based on product type, the Middle East & Africa folding furniture market is segmented into tables, chairs, sofas and beds, and others. The sofas and beds segment held 40.0% share of Middle East & Africa folding furniture market in 2023, amassing US$ 75.67 million. It is projected to garner US$ 118.61 million by 2030 to expand at 6.6% CAGR during 2023–2030. 

Based on material, the Middle East & Africa folding furniture market is segmented into wood, metal, and plastic. The wood segment held 44.4% share of Middle East & Africa folding furniture market in 2023, amassing US$ 83.96 million. It is projected to garner US$ 117.85 million by 2030 to expand at 5.0% CAGR during 2023–2030.

Based on application, the Middle East & Africa folding furniture market is segmented into residential, commercial, and others. The residential segment held 54.7% share of Middle East & Africa folding furniture market in 2023, amassing US$ 103.50 million. It is projected to garner US$ 151.91 million by 2030 to expand at 5.6% CAGR during 2023–2030.

Based on distribution channel, the Middle East & Africa folding furniture market is segmented into online and offline. The offline segment held 79.4% share of Middle East & Africa folding furniture market in 2023, amassing US$ 150.25 million. It is projected to garner US$ 215.89 million by 2030 to expand at 5.3% CAGR during 2023–2030.

Based on country, the Middle East & Africa folding furniture market has been categorized into the South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that Saudi Arabia captured 32.8% share of Middle East & Africa folding furniture market in 2023. It was assessed at US$ 61.97 million in 2023 and is likely to hit US$ 96.46 million by 2030, exhibiting a CAGR of 6.5% during the forecast period.      

Key players operating in the Middle East & Africa folding furniture market are Godrej & Boyce Manufacturing Co Ltd, Inter IKEA Holding BV, Hussey Seating Co, and Dorel Industries Inc, among others.   

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com