The decorative rugs market has seen strong growth, with its size increasing from $3.55 billion in 2023 to $3.8 billion in 2024, reflecting a compound annual growth rate (CAGR) of 7.1%. This growth is driven by factors such as the expansion of the e-commerce sector, rising demand for home renovations, increasing disposable incomes, growing consumer awareness of economic growth, and shifting consumer preferences. The market is projected to continue its strong growth, reaching $5.03 billion by 2028 at a CAGR of 7.3%. This growth is attributed to increasing awareness of the role of interior design, rising holiday spending, growing preference for sustainable products, improved accessibility to decorative rugs, and enhanced convenience for consumers. Major trends expected during 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.
Global Decorative Rugs Market Key Driver
The growing emphasis on home decor and interior design is expected to boost the growth of the decorative rug market. Home decor and interior design focus on enhancing indoor spaces through color, furniture, and layout choices. The surge in interest is driven by desires to customize living spaces, higher disposable incomes, and social media trends. Decorative rugs add color, texture, and warmth, contributing to the overall aesthetics of home interiors. For example, in March 2024, the Furniture Industry Research Association reported that the UK furniture and furnishings sector achieved a total manufacturing turnover of £11.35 billion ($14.69 billion) in 2022, marking a 10% increase compared to the previous year. Thus, the growing focus on home decor and interior design is driving the decorative rug market.
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Global Decorative Rugs Market Segments
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
By Geography:The regions covered in the decorative rugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the decorative rugs market in 2023.
Major Decorative Rugs Industry Players
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
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Decorative Rugs Market Overview
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 2023 provides data on the global decorative rugs market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The decorative rugs market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
