Decorative Rugs Market Drivers, Growth, Size and Forecast By 2033

The decorative rugs global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Decorative Rugs Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size -

The decorative rugs market size has grown strongly in recent years. It will grow from $3.55 billion in 2023 to $3.8 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%.  The growth in the historic period can be attributed to growth in the e-commerce sector, rising home renovation demand, increasing disposable incomes, increasing consumer awareness of economic growth, and increasing consumer preferences.

The decorative rugs market size is expected to see strong growth in the next few years. It will grow to $5.03 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%.  The growth in the forecast period can be attributed to increasing awareness of the role of interior design, increasing holiday spending, increasing preference for sustainable products, increasing accessibility to decorative rugs, and increasing convenience and accessibility for consumers. Major trends in the forecast period include the development of innovative materials and designs, adoption of sustainability and eco-friendly materials, innovation in smart rugs embedded with technology, and demand for durable and weather-resistant rugs.

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Scope Of Decorative Rugs Market

The Business Research Company's reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Decorative Rugs Market Overview

Market Drivers -

The growing emphasis on home decor and interior design is expected to propel the growth of the decorative rug market going forward. Home decor and interior design focus on improving indoor spaces to create a more attractive and functional environment, involving choices in color, furniture, and layout to suit personal tastes and needs. The surge in home decor and interior design is driven by a desire to customize living spaces, higher disposable incomes, and social media trends featuring elegant interiors. Decorative rugs contribute to home decor and interior design by introducing color, texture, and warmth, defining areas, offering comfort, and either standing out or blending with other furniture. For instance, in March 2024, according to the Furniture Industry Research Association, a UK-based furniture association, in 2022, the UK furniture and furnishings sector achieved a total manufacturing turnover of £11.35 billion ($14.69 billion), marking a 10% increase compared to the previous year. Therefore, the growing emphasis on home decor and interior design is driving the decorative rug market.

Market Trends -

Major companies operating in the decorative rugs market are focusing on innovative weaving techniques and designs such as hand-knotted braided design to gain a competitive advantage. A hand-knotted braided design is a rug style where knots are tied by hand and braided details are added for extra texture and pattern. For instance, in July 2023, Capel Rugs, a US-based rug manufacturing company, launched the Aria wool rug collection. The hand-knotted Aria rugs feature geometric and bohemian-inspired patterns, crafted in India from natural undyed wool with a high-low profile.

The decorative rugs market covered in this report is segmented –

1) By Product: Hand-Knotted Rugs, Hand-Tufted Rugs, Machine-Made Rugs, Flatweave Rugs, Other Products

2) By Material: Wool, Nylon, Cotton, Polyester, Jute, Other Materials

3) By Distribution Channel: Wholesalers Or Distributors, Hyper markets Or Super markets, Specialty Stores, Online Retailers, Other Distribution Channels

4) By Application: Residential, Commercial

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Regional Insights -

North America was the largest region in the decorative rugs market in 2023. The regions covered in the decorative rugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies -

Major companies operating in the decorative rugs market are Mohawk Industries, Shaw Industries Group Inc., Milliken Co, Tarkett Group, Oriental Weavers, Balta Rugs NV, Safavieh Inc., The Dixie Group, Surya Inc., Nourison Co, COURISTAN Inc., Loloi Rugs, Colonial Mills Inc., Capel Rugs, Jaipur Living Inc., Dalyn Rugs Co, Momeni Rugs Inc., Kaleen Rugs Inc., Samad Rugs, Harounian Rugs International, Tamarian, EXQUISITE RUGS

Table of Contents

1. Executive Summary

2. Decorative Rugs Market Report Structure

3. Decorative Rugs Market Trends And Strategies

4. Decorative Rugs Market – Macro Economic Scenario

5. Decorative Rugs Market Size And Growth

…..

27. Decorative Rugs Market Competitor Landscape And Company Profiles

28. Key Mergers And Acquisitions

29. Future Outlook and Potential Analysis

30. Appendix

List Of Tables:

Table 1: Global Historic Market Growth, 2018-2023, $ Billion

Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion

Table 3: Global Decorative Rugs Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 4: Global Decorative Rugs Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 5: Global Decorative Rugs Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

…………..

Table 75: Mohawk Industries Financial Performance

Table 76: Shaw Industries Group Inc. Financial Performance

Table 77: Milliken Co Financial Performance

Table 78: Tarkett Group Financial Performance

Table 79: Oriental Weavers Financial Performance

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