Decorative Rugs Market Set to Reach $5.39 Billion by 2029 with 7.2% Yearly Growth

What Is the Estimated Market Size and Growth Rate for the Decorative Rugs Market?
Over the past few years, the market size for decorative rugs has been significantly expanding. The projections from $3.8 billion in 2024 to $4.08 billion in 2025 predict an annual compounded rate of growth (CAGR) at 7.4%. Factors contributing to this historical growth include the expansion of the e-commerce industry, a surge in demand for home renovations, rising disposable incomes, heightened consumer awareness of economic growth, and evolving consumer preferences.

Anticipated to experience robust expansion in the approaching years, the decorative rugs market is predicted to escalate to a value of $5.39 billion by 2029, showing a compound annual growth rate (CAGR) of 7.2%. This predicted upswing through the forecast period can be primarily credited to a growing consciousness about interior design, a rise in holiday expenditure, a thriving preference for environmentally-friendly products, easy availability of decorative rugs, along with an enhanced comfort and accessibility for customers. Foreseeable trends for the forecast period encompass the inception of pioneering materials and designs, the embrace of sustainable and eco-conscious materials, advances in technology-infused smart rugs, and a surge in demand for durable and weather-proof rugs.

What Factors Are Fueling Growth in the Decorative Rugs Market?
The decorative rug market is projected to expand due to the increasing attention towards home decoration and interior design. Enhancing the aesthetics and functionality of indoor spaces through a selection of hues, furniture, and arrangements, catered to individual preferences and requirements, is the key focus of home decor and interior design. The trend is fueled by the desire to personalize household spaces, greater discretionary income, and social media showcasing stylish interior spaces. Decorative rugs add color, texture, and warmth to the interior design, defining different sections, providing comfort, and either harmonizing or contrasting with other pieces of furniture. A report by the Furniture Industry Research Association, a UK furniture institution, stated in March 2024 that the UK furniture and home furnishing sector recorded a manufacturing turnover of £11.35 billion ($14.69 billion) in 2022, a 10% rise from the previous year. Therefore, the escalating focus on home decoration and interior design is propelling the growth of the decorative rug market.

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Who Are the Dominant Companies Influencing Decorative Rugs Market Trends?
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

How Is the Decorative Rugs Market Evolving?
Leading corporations in the decorative rugs market are adopting innovative weaving methods and designs like hand-knotted braided design to establish a upper hand in the competition. The hand-knotted braided design rug showcases knots that are handcrafted and further enriched with braided patterns for an enhanced tactile and visual attribute. To exemplify, Capel Rugs, an American rug manufacturing enterprise, unveiled the Aria wool rug assortment in July 2023. This collection of hand-knotted Aria rugs features patterns inspired from geometry and bohemian styles, made in India using naturally undyed wool to create a high-low profile.

What Are the Different Segmentations in the 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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Which Region Is at the Forefront of 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.

What Is Covered In The Decorative Rugs Global Market Report?

- Market Size Analysis: Analyze the Decorative Rugs Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Decorative Rugs Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Decorative Rugs Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Decorative Rugs Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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