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What is the current market size and future outlook for the decorative rugs market?
The decorative rugs market size has grown strongly in recent years. It will grow from $3.8 billion in 2024 to $4.08 billion in 2025 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to growth in the e-commerce sector, rising home renovation demand, increasing disposable incomes, increasing consumer awareness of economic growth, and increasing consumer preferences.
The decorative rugs market size is expected to see strong growth in the next few years. It will grow to $5.39 billion in 2029 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to increasing awareness of the role of interior design, increasing holiday spending, increasing preference for sustainable products, increasing accessibility to decorative rugs, and increasing convenience and accessibility for consumers. Major trends in 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.
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What are the top drivers to the rising demand in the decorative rugs market?
The growing emphasis on home decor and interior design is expected to propel the growth of the decorative rug market going forward. Home decor and interior design focus on improving indoor spaces to create a more attractive and functional environment, involving choices in color, furniture, and layout to suit personal tastes and needs. The surge in home decor and interior design is driven by a desire to customize living spaces, higher disposable incomes, and social media trends featuring elegant interiors. Decorative rugs contribute to home decor and interior design by introducing color, texture, and warmth, defining areas, offering comfort, and either standing out or blending with other furniture. For instance, in March 2024, according to the Furniture Industry Research Association, a UK-based furniture association, in 2022, the UK furniture and furnishings sector achieved a total manufacturing turnover of £11.35 billion ($14.69 billion), marking a 10% increase compared to the previous year. Therefore, the growing emphasis on home decor and interior design is driving the decorative rug market.
How is the decorative rugs market segmented?
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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Who are the top competitors 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 significant trends should we anticipate in the decorative rugs market over the forecast period?
Major companies operating in the decorative rugs market are focusing on innovative weaving techniques and designs such as hand-knotted braided design to gain a competitive advantage. A hand-knotted braided design is a rug style where knots are tied by hand and braided details are added for extra texture and pattern. For instance, in July 2023, Capel Rugs, a US-based rug manufacturing company, launched the Aria wool rug collection. The hand-knotted Aria rugs feature geometric and bohemian-inspired patterns, crafted in India from natural undyed wool with a high-low profile.
Which regional trends are influencing the decorative rugs market, and which area dominates the industry?
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 Does The Decorative Rugs Market Report 2025 Offer?
The decorative rugs market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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.
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