What Has Been the Growth of the Decorative Rugs Market So Far?
The decorative rugs market has seen considerable growth due to a variety of factors.
• The decorative rugs market has seen notable growth. It will increase from $3.8 billion in 2024 to $4.08 billion in 2025, at a CAGR of 7.4%.
This growth is driven by the rise of e-commerce, a growing demand for home renovations, higher disposable incomes, greater consumer awareness, and changing consumer preferences.
What Is the Forecasted Market Size and Growth Rate for The Decorative Rugs Market Size In The Coming Years?
The decorative rugs market is expected to maintain its strong growth trajectory in upcoming years.
• The decorative rugs market is projected to grow to $5.39 billion by 2029, expanding at a CAGR of 7.2%.
This growth is due to the increasing role of interior design, higher holiday spending, preference for sustainable products, and improved accessibility for consumers. Trends include innovative materials and designs, sustainable and eco-friendly materials, smart rug technology, and durable weather-resistant options.
What Factors Are Driving Growth In The Decorative Rugs Market?
The increasing focus on home decor and interior design is expected to drive the growth of the decorative rug market. Home decor and interior design aim to improve the aesthetics and functionality of indoor spaces by selecting furniture, color schemes, and layouts to suit personal preferences. The rising interest in home decor is attributed to desires for customized spaces, increased disposable incomes, and trends on social media showcasing stylish interiors. Decorative rugs play a key role by adding color, warmth, and texture to spaces, defining areas, and complementing or contrasting with other furnishings. For instance, in March 2024, the Furniture Industry Research Association reported a 10% increase in the UK furniture sector's turnover in 2022. This trend supports the growth of the decorative rug market.
What Are The Main Segments Of The Global Decorative Rugs Market?
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, Hypermarkets Or Supermarkets, Specialty Stores, Online Retailers, Other Distribution Channels
4) By Application: Residential, Commercial
Subsegments:
1) By Hand-Knotted Rugs: Traditional Hand-Knotted Rugs, Contemporary Hand-Knotted Rugs
2) By Hand-Tufted Rugs: Wool Hand-Tufted Rugs, Synthetic Hand-Tufted Rugs, Cotton Hand-Tufted Rugs
3) By Machine-Made Rugs: Nylon Machine-Made Rugs, Polyester Machine-Made Rugs, Wool Machine-Made Rugs, Polypropylene Machine-Made Rugs
4) By Flatweave Rugs: Cotton Flatweave Rugs, Wool Flatweave Rugs, Synthetic Flatweave Rugs
5) By Other Products: Shag Rugs, Braided Rugs, Outdoor Rugs, Carpet Tiles
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How Are New Trends Impacting The Size Of The Decorative Rugs Market?
Companies in the decorative rugs market are adopting innovative weaving techniques, like hand-knotted braided designs, to stand out in the market. Hand-knotted braided rugs are known for their texture and intricate patterns. In July 2023, Capel Rugs, a US-based rug manufacturer, launched the Aria wool rug collection. These hand-knotted rugs feature geometric and bohemian-inspired patterns and are made from undyed wool sourced from India.
Who Are the Key Players In The Decorative Rugs Market?
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
What Is The Most Dominant Region In 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.
