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Decorative Rugs Global market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Decorative Rugs Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UNITED KINGDOM, September 18, 2024 /EINPresswire / -- The decorative rugs market has experienced robust growth in recent years, expanding 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.
What Is The Estimated Market Size Of The Global Decorative Rugs Market And Its Annual Growth Rate?
The decorative rugs market is projected to continue its strong growth, reaching $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.
Explore Comprehensive Insights Into The Global Decorative Rugs Market With A Detailed Sample Report:
Growth Driver Of The Decorative Rugs Market
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.
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Which Market Players Are Driving The Decorative Rugs Market Growth ?
Key players in the decorative rugs market include 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.
What Are the Key Trends That Influence The Decorative Rugs Market Size ?
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.
How Is The Global Decorative Rugs Market 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
Geographical Insights: North America Leading The Decorative Rugs Market
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.
Decorative Rugs Market Definition
Decorative rugs are floor coverings designed primarily for aesthetic enhancement and to add a decorative touch to a room. They come in various shapes, sizes, colors, patterns, and materials, allowing them to complement or accentuate the décor of any space. These rugs have versatile design elements that can adapt to various styles and needs, making them a valuable addition to any home or space.
Decorative Rugs Global Market Report 2024 from TBRC covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global decorative rugs market report covering trends, opportunities, strategies, and more
The Decorative Rugs Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on decorative rugs market size, decorative rugs market drivers and trends, decorative rugs market major players, decorative rugs competitors' revenues, decorative rugs market positioning, and decorative rugs market growth across geographies. The decorative rugs market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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The Business Research Company
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