Area Rugs Market 2020-2027: Industry Size & Share, Growth, And Report Forecasts The Impact Of COVID-19 Pandemic On Business And Opportunity

Allied Market Research published a new report, titled, “Area Rugs Market” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The rise in disposable income enhances the purchasing power of the people living in Asia-Pacific countries. People are spending more than before on luxury, comfort and lifestyle products. This change in spending behavior of consumers and rise in purchasing power increases the demand for area rugs.

The changes in lifestyle and increase in modern home renovation also supports the growth of the area rugs market. The changes in lifestyle and availability of modern home renovation influence people to have luxurious looking area rugs for enhancing the aesthetic appeal of the home. The usage of smart area rugs in hospitality industry, offices, and in such other industry increases the demand for the product.

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The companies are focusing on launch of new designs of rug to serve the increase in demand in the market. People prefer hand-made rug over machine made rug as it gives unique and appealing look to the floor. Therefore, companies are engaged in making new patterns and designs for area rug. For instance, in September 2019, the Rug Company which is a leading global brand in rug market had introduced new collections of rug whose designs were inspired by the details found on land, air, and sea.

Regional Analysis – North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain,and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil, and Rest of LAMEA)

COVID-19 Scenario Analysis:

The COVID-19 outbreak has impacted different industries differently. On the one hand it has been a growth driver for food, medical and necessity products and on the other hand it has hampered the supply and demand for decorative and lifestyle products. In the various economies supply chain of area rugs has been hampereddue to lockdown scenario. The non-availability of raw materials and labors due to restrictions on the movements of people across the countries hinders the production of area rugs. The economy’s growth has been on a slowdown and this slowdown phase should be used by the companies to innovate their products. To survive in the post COVID-19 situation, companies have to identify new opportunities and challenges and modify their products or change their positioning of brand accordingly to serve to the new needs of the customers or to stimulate demand.

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Competitive analysis – Balta Industries, OW (Oriental Weavers), Shaw Industries, The Dixie Group, Angelo Home, Bella Dura, The Natural Carpet Company, Capel Incorporated, Amer Rugs, BRINTONS AGNELLA,Justina Blakeney x Loloi, Milliken & Company, Mohawk Industries, Nourison Industries, ORIENTAL WEAVERS, STEPEVI, Haroun Ian Rugs International, Bukhara Carpets, Amar Carpets, Abraham Moheban& Sons

Key Segments Covered:

Type

• Wool Area Rug
• Synthetics Area Rug
• Sisal, Jute & Sea Grass Area Rug
• Animal Skins Area Rug
• Silk Area Rug
• Cotton Area Rug
• Others

Application

• Commercial
• Residential

Distribution Channel

• Online
• Offline

Key benefits of the report:

○ This study presents the analytical depiction of the global area rugs industry along with the current trends and future estimations to determine the imminent investment pockets.
○ The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global area rugs market share.
○ The current market is quantitatively analyzed from 2020 to 2027 to highlight the global area rugs market growth scenario.
○ Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
○ The report provides a detailed global area rugs market analysis based on competitive intensity and how the competition will take shape in coming years.

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