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

"How Are the key drivers contributing to the expansion of the decorative rugs market?
The growing interest in home decor and interior design is expected to accelerate the growth of the decorative rug market. This interest involves enhancing indoor spaces to be both attractive and functional, considering factors like color, furniture, and room layout. The rise in home decor trends is fueled by factors such as social media influences, a desire to personalize spaces, and higher disposable incomes. Decorative rugs play an essential role in interior design by adding texture, warmth, and color. For example, in March 2024, the Furniture Industry Research Association reported that the UK furniture sector reached a turnover of £11.35 billion ($14.69 billion) in 2022, reflecting a 10% growth from the previous year. Therefore, the growing demand for home decor and interior design is propelling the decorative rug market.

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What growth opportunities are expected to drive the decorative rugs market's CAGR through 2034?
The decorative rugs market will grow from $3.8 billion in 2024 to $4.08 billion in 2025 at a CAGR of 7.4%. This growth is attributed to the rise of e-commerce, increased demand for home renovation, rising disposable incomes, greater consumer awareness, and the growing preference for decorative and personalized home products.

The decorative rugs market is projected to grow to $5.39 billion by 2029, at a CAGR of 7.2%. Growth is driven by the increased awareness of interior design, rising holiday spending, demand for sustainable products, greater accessibility to decorative rugs, and greater convenience for consumers. Trends include the development of innovative materials and designs, a focus on eco-friendly materials, smart rugs embedded with technology, and the demand for durable, weather-resistant rugs.

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What are the emerging trends shaping the future of the decorative rugs market?
Companies in the decorative rugs market are focusing on innovative weaving techniques like hand-knotted braided designs to create unique and textured rugs. For example, in July 2023, Capel Rugs launched the Aria wool rug collection, featuring hand-knotted geometric and bohemian-inspired patterns, crafted from natural undyed wool with a high-low profile.

Which growth-oriented segments of the decorative rugs market are leading the industry's development?
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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What regions are leading the charge 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.

What companies are at the forefront of innovation 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

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What Is Covered In The Decorative Rugs Global Market Report?

•Market Size Forecast: Examine the decorative rugs market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the decorative rugs market for a structured understanding.
•Key Players Overview: Analyze major players in the decorative rugs market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the decorative rugs market.
•Segment Contributions: Evaluate how different segments drive overall growth in the decorative rugs market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the decorative rugs market.
•Industry Challenges: Identify potential risks and obstacles affecting the decorative rugs market.
•Competitive Landscape: Review strategic developments in the decorative rugs market, including expansions, agreements, and new product launches.

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