A plastic folding table is a table that can be folded and is generally supported by a metal frame. Plastic folding table has the advantages of light, durable, easy to clean, not easy to rust, etc., suitable for outdoor, family, hotel, conference, exhibition and other occasions.
What is the market prospect of plastic folding tables? According to a report, the market size of the global folding table industry reached about $3 billion in 2020 and is expected to grow at a compound annual growth rate of 6.5% from 2021 to 2028, reaching $4.6 billion by 2028. Key drivers include:
Urbanization and population growth have led to increased demand for housing space, boosting the demand for space-saving and multifunctional furniture.
The innovative design and materials of the folding table enhance its aesthetics and durability, attracting the interest and preference of consumers.
The COVID-19 pandemic has triggered a trend towards telecommuting and online education, increasing the demand for portable and adjustable desks.
Folding tables are also widely used in commercial fields, such as catering, hotels, education, medical care, etc., and with the recovery and development of these industries, the market growth of folding tables will be promoted.
Within the global market, North America is the largest consuming region, accounting for about 35% of the market share, mainly due to the high income level, lifestyle changes and demand for innovative products in the region. The Asia Pacific region is the fastest growing region and is expected to grow at a CAGR of 8.2% during the forecast period, mainly due to the region’s population growth, urbanization process and demand for space-saving furniture.
In the Chinese market, plastic folding tables also have a large space for development. According to an article 3, the market supply of smart folding tables (including plastic folding tables) in China in 2021 is 449,800 units, and it is expected to reach 756,800 units by 2025, with a compound annual growth rate of 11%. Key drivers include:
China’s economy has sustained and steady development, with people’s income rising and their ability and willingness to consume increasing.
China’s furniture industry continues to innovate and upgrade, introducing more products that meet consumer needs and preferences, improving product quality and added value.
The Chinese government has introduced a series of policies and measures to promote the development of the furniture industry, such as encouraging the use of green materials, supporting the construction of the smart home industry chain, and expanding domestic demand.
To sum up, plastic folding table as a practical and beautiful furniture products, in the global and Chinese markets have broad prospects for development, worthy of attention and investment.
Post time: Jun-20-2023