PORTABLE BEDS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Portable Beds Market Size and Trends

The portable beds market is estimated to be valued at USD 5.23 Bn in 2024 and is expected to reach USD 8.13 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031.

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The increasing demand for portable and foldable beds from hotels, hostels, and temporary accommodation facilities is driving the growth of this market. The market trend shows a high demand for portable beds that can be folded or collapsed into a small package for easy storage and transport. Lightweight and compact size are some of the features which consumers look for in portable beds. Increased spending on travel and tourism globally has also fueled the demand for portable beds from consumers who want beds that are convenient to carry while travelling.

Growing travel and tourism industry

The global travel and tourism industry has experienced significant growth over the past few years. More people are travelling now be it for leisure, business or other purposes. Whether it is travelling within the country or abroad, the demand for accommodation has seen a marked rise. Temporary accommodation often becomes necessary whether people are travelling in groups, as part of tours or solo travel. Portable and foldable beds are increasingly coming in handy for such situations where people may only require a place to sleep for a short duration. These beds can be easily carried and unpacked as required. They save on additional costs for guests or extra beds. Their compact size and portability distinguishes them from conventional beds making them very suitable for temporary accommodation needs of travelling groups and families. As long as international and domestic tourism continues to demonstrate an upward trajectory, the demand for portable beds is likely to grow correspondingly.

Increase in solo travel trend

Solo travel has emerged as a major trend globally over the past decade. More people are embarking on individual journeys to new destinations fueled by their sense of adventure and independence. Staying in hostels, budget hotels or renting individual rooms during solo trips requires beds that can offer a comfortable night's sleep in compact spaces. Portable beds address this need seamlessly as they can be unpacked and fitted into any available space without consuming excessive floor area. Their lightweight yet supportive design allows solo travelers to carry them along with ease. Some portable beds come with additional features like storage space underneath which can be utilized for personal belongings. For the growing number of people preferring to discover places and cultures by themselves, portable beds have become quite handy. As solo travel gains wider acceptance and popularity among different demographic groups, it can sicher fuel greater demand for portable beds in the coming years.