When you think about it, any table can be used as a craft table, but the presence of storage (in the form of drawers or shelves) is what makes all the difference when dealing with that type of work surface. The drawers can store all the accessories you use, and since these are integrated within the table itself, what you need is never far from reach.
Here’s a small model – it doesn’t give you that much of a working surface, but for a small apartment (such as mine) it can work. Mind you, it looks like you can’t really sit at it very comfortably, which I don’t like:
Folding craft table pictured: SEI White Fold-Out Organizer and Craft Desk
The fact that a table can be folded means it can take up less space when not in use. However, if the table has drawers, there will be a compromise involved: you will not be able to fold it flat. Still, it will be smaller once the sides are folded. Look for drawers that will be of a convenient size for the type of craft supplies you will be using.