Folding Furniture takes into account the economy of space. With rapid pace of urbanization, adoption of co-living trends in the Kampala (especially with Expats and fresh graduates) and growth in the real estate market influence the folding furniture industry. In Kampala, a growing trend of millennials opting for rented apartments has been observed, who are more inclined towards affordable, multifunctional, and smaller furniture that suits their urban and dynamic lifestyles.
Folding furniture is a suitable option for people living in smaller places or studio apartments as contemporary furniture of this category offers benefits of transforming furniture with multifunctional ability. The folding furniture market is segmented based on product type, application, and distribution channel. Among its key product types such as chairs, tables, sofas, beds, and other furniture,sofa is the most popular product type as it enhances the decor of the living room and accounts for around 3/5th of the total folding furniture revenue.
The growth of the online sales made would be driven by its benefits of convenience, and services such as free delivery and installation of the furniture.
It is observed that an increased number of youngsters tend to move to large cities for better opportunities. This phenomenon gradually decreases the average living area as well as increases the cost of houses. For instance, in Kampala, the average living area available per person is only 21 square meters. Therefore, transforming furniture is the best suitable option to solve such a problem. Urbanization is other factor that drives the folding furniture market growth as it decreases the average living space and increases the value of available limited space, where space saving furniture is the most suited option.
Furniture manufacturers are taking efforts to innovate their furniture products pertaining to the needs of consumers. For instance, a wall bed that is designed to offer space saving solutions for tiny houses and studio apartments is very easy to pull down and push back to the wall. Another example of such type of furniture includes bookshelves that transform into beds and coffee tables that convert into dining tables.