London 2012 Olympians Folkard and Oliver, along with Martin, progressed past rounds one and two of the individual competition but were all to suffer defeats in the last 32.
Folkard lost 6-2 to Sarah Nikitin of Brazil, Oliver fell 7-1 to China's Xu Jing and Martin was beaten 6-5 by German Karina Winter before all three came together for the team competition.
After defeating Russia in round one, Folkard, Oliver and Martin found the Belarusian trio too hot to handle in the second round with their conquerors set to face Korea in the battle for gold.
Elsewhere the men's recurve team of Larry Godfrey, Ashe Morgan and Alan Wills followed their individual efforts by losing in the first round to world No.1 team Korea.
That means there will be no recurve medal for Britain at the World Championships with the mixed team pairing of Folkard and Godfrey losing in the quarter-finals earlier in the week.