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Yahoo
20-06-2025
- Business
- Yahoo
Sofas That Save Space: A USD 4.9 Billion Segment Forecasted to Grow with Urban Living Trends
Urbanization and compact living are driving demand for space-saving, versatile furniture like beds, foldable dining tables, and storage chairs. Rising housing costs push consumers towards multifunctional solutions, emphasizing style and utility. Multifunctional Furniture Market Dublin, June 20, 2025 (GLOBE NEWSWIRE) -- The "Multifunctional Furniture Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2025-2034" report has been added to Global Multifunctional Furniture Market was valued at USD 15.9 billion in 2024 and is estimated to grow at a CAGR of 4.9% to reach USD 25.4 billion by 2034, fueled by a surge in urbanization and the shift toward smaller living spaces. As more people migrate to urban areas, housing becomes increasingly compact, particularly in high-density residential buildings. Rising real estate costs have made space-saving a top priority, pushing consumers to invest in versatile furniture that combines practicality with smart design. These products are becoming essential in modern homes, offering multiple functionalities without occupying extra space. Sofas that double as beds, dining tables that fold away, and chairs with storage compartments are just a few examples of how furniture adapts to limited square footage. The increasing popularity of studio and micro-apartments has further amplified this trend. Consumers are gravitating toward multifunctional solutions that help maximize usability without compromising on style or comfort. The market continues to expand as design innovation meets the demand for space-efficient, user-friendly, and aesthetically pleasing furniture. Eco-conscious buyers help shape the market by favoring products that blend sustainability with modern 2024, the sofa segment in the multifunctional furniture market generated USD 4.9 billion and is forecasted to grow at a CAGR of 5.4% through 2034, fueled by the need for versatile, space-saving furniture in compact living environments. Multifunctional sofas are especially favored in single-room or small apartments where every square foot matters. These sofas not only offer comfort but also eliminate the need for additional furniture, such as separate beds or storage units, by combining multiple features in one compact design. As urban spaces continue to shrink, consumers are prioritizing furniture that adapts seamlessly to limited living areas without compromising on aesthetics or wooden furniture segment maintained a 43% share in 2024 and is projected to grow at a CAGR of 5.2% from 2025 to 2034, driven by increased consumer demand for sustainable and durable home furnishings. More brands are shifting to ethically sourced timber and environmentally friendly production practices in response to changing consumer preferences. The appeal of wooden multifunctional furniture lies in its ability to merge natural textures with minimalist forms, making it a preferred choice in homes that balance modern style with traditional design States Multifunctional Furniture Market was valued at USD 4.4 billion in 2024. Urbanization trends, particularly in densely populated cities, have resulted in smaller apartments and a growing shift toward modular and space-optimizing furniture. As living spaces contract, multifunctional designs have become essential rather than optional. The rise of tech-integrated furniture is also gaining momentum, as U.S. consumers increasingly seek smart, connected living solutions that align with broader digital home maintain a competitive edge, companies such as IKEA, Furl, Ligne Roset, The Futon Shop, Ashley Furniture Industries, Expand Furniture, Hafele, Wayfair, CasaKids, Murphy Wall-Beds Hardware, Clei, Natuzzi Group, Lifetime Furniture, Sofa Bed Company, and La-Z-Boy Incorporated are investing heavily in product innovation and sustainable materials. Many are enhancing their online presence and direct-to-consumer channels to boost accessibility. Additionally, strategic partnerships, customization options, and AI-driven design features are adopted to meet evolving consumer preferences and strengthen brand Market Analysis and Forecast Industry trends, key growth drivers, challenges, future opportunities, and regulatory landscape Competitive landscape with Porter's Five Forces and PESTEL analysis Market size, segmentation, and regional forecasts In-depth company profiles, business strategies, financial insights, and SWOT analysis Key Attributes Report Attribute Details No. of Pages 220 Forecast Period 2024-2034 Estimated Market Value (USD) in 2024 $15.9 Billion Forecasted Market Value (USD) by 2034 $25.4 Billion Compound Annual Growth Rate 4.9% Regions Covered Global Key Topics CoveredChapter 1 Methodology & ScopeChapter 2 Executive Summary2.1 Industry 360 degree synopsis, 2021-2034Chapter 3 Industry Insights3.1 Industry ecosystem analysis3.1.1 Factor affecting the value chain.3.1.2 Profit margin analysis.3.1.3 Disruptions3.1.4 Future outlook3.1.5 Manufactures3.1.6 Distributors3.2 Impact of Trump administration tariffs3.2.1 Trade impact3.2.1.1 Trade volume disruptions3.2.1.2 Retaliatory measures3.2.2 Impact on industry3.2.2.1 Supply-side impact (raw materials)3.2.2.1.1 Price volatility in key materials3.2.2.1.2 Supply chain restructuring3.2.2.1.3 Production cost implications3.2.2.2 Demand-side impact (cost to customers)3.2.2.2.1 Price transmission to end markets3.2.2.2.2 Market share dynamics3.2.2.2.3 Consumer response patterns3.2.3 Key companies impacted3.2.4 Strategic industry responses3.2.4.1 Supply chain reconfiguration3.2.4.2 Pricing and product strategies3.2.4.3 Policy engagement3.2.5 Outlook & future considerations3.3 Supplier landscape3.4 Key news & initiatives3.5 Regulatory landscape3.6 Pricing trend analysis3.7 Impact forces3.7.1 Growth drivers3.7.1.1 Increasing urbanization leads to smaller living spaces3.7.1.2 The shift towards more flexible and adaptable living spaces3.7.1.3 Consumers are increasingly aware of the benefits of space-efficient furniture3.7.2 Industry pitfalls & challenges3.7.2.1 Cost constraints3.7.2.2 Design complexity and durability3.8 Growth potential analysis3.9 Porter's analysis3.10 PESTEL analysisChapter 4 Competitive Landscape, 20244.1 Introduction4.2 Company market share analysis4.3 Competitive positioning matrix4.4 Strategic outlook matrixChapter 5 Market Estimates & Forecast, by Product Type, 2021-2034 (USD Billion, Million Units)5.1 Key trends5.2 Sofa5.3 Chair5.4 Beds5.5 Ottoman5.6 Table5.7 Storage units5.8 Others (desks, foldable furniture, etc.)Chapter 6 Market Estimates & Forecast, by Material, 2021-2034 (USD Billion, Million Units)6.1 Key trends6.2 Wood6.3 Metal6.4 Plastic6.5 Others (glass, fabric, etc.)Chapter 7 Market Estimates & Forecast, by Price Range, 2021-2034 (USD Billion, Million Units)7.1 Key trends7.2 Low7.3 Medium7.4 HighChapter 8 Market Estimates & Forecast, by Application, 2021-2034 (USD Billion, Million Units)8.1 Key trends8.2 Residential8.2.1 Living room8.2.2 Bedroom8.2.3 Kitchen8.2.4 Outdoor8.3 Commercial8.3.1 Offices8.3.2 Hotels8.3.3 Restaurants & cafes8.3.4 Educational institutions8.3.5 Others (retail spaces, hospitals, etc.)Chapter 9 Market Estimates & Forecast, by Distribution Channel, 2021-2034 (USD Billion, Million Units)9.1 Key trends9.2 B2B9.3 B2C9.3.1 Online9.3.1.1 E-commerce9.3.1.2 Company website9.3.2 Offline9.3.2.1 Home improvement stores9.3.2.2 Specialty stores9.3.2.3 Others (individual stores, carpenter workshop, etc.)Chapter 10 Market Estimates & Forecast, by Region, 2021-2034 (USD Billion, Million Units)10.1 Key trends10.2 North America10.2.1 U.S.10.2.2 Canada10.3 Europe10.3.1 UK10.3.2 Germany10.3.3 France10.3.4 Italy10.3.5 Spain10.3.6 Russia10.4 Asia-Pacific10.4.1 China10.4.2 India10.4.3 Japan10.4.4 South Korea10.4.5 Australia10.5 Latin America10.5.1 Brazil10.5.2 Mexico10.6 MEA10.6.1 UAE10.6.2 Saudi Arabia10.6.3 South AfricaChapter 11 Company Profiles11.1 Ashley Furniture Industries11.2 CasaKids11.3 Clei11.4 Expand Furniture11.5 Furl11.6 Hafele11.7 IKEA11.8 La-Z-Boy Incorporated11.9 Lifetime Furniture11.10 Ligne Roset11.11 Murphy Wall-Beds Hardware11.12 Natuzzi Group11.13 Sofa Bed Company11.14 The Futon Shop11.15 Wayfair For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Multifunctional Furniture Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
National Post
09-05-2025
- National Post
Transformer round table review: Canadian company makes space-saving beautiful
Reviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purchases made through links on this page. Article content I'm no stranger to multifunctional furniture. I live in a modest townhouse in Squamish, B.C. — arguably one of the most beautiful parts of Canada. I'm extremely grateful for my home, but space isn't what I would call 'plentiful.' Our dining room is also our living room, toddler's playroom and gathering space. With our dining table eight feet from our couch, we need to get crafty when it comes to hosting friends and family. We went years hosting dinner parties with six people crammed around our four-person dining table, while other guests ate meals from their laps on our couch (still the comfiest couch ever). Article content I eventually tested an expandable console to table, which felt life-changing at the time. Ever since, I've been searching for an expandable table that matches my modern, earthy and neutral aesthetic. In steps the Marie Kondo x Transformer Table partnership. I finally found beautiful space-saving furniture that fits my space and extends to seat 10 people when I need it to. Article content Article content Table Article content Article content Article content Dimensions: 17.5'L x 20.5'W x 31.5'H Article content
