Increasing demand for home decor, rising disposable and increasing demand for eco-friendly products income are factors driving the global area rugs market in the forecast period 2024-2028.
According to the TechSci Research rep ort, “Area Rugs Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F”, the area rugs market is influenced by a myriad of factors that collectively drive its growth and evolution. From changing home renovation trends to urbanization and shifting consumer preferences, each of these drivers contributes to the market’s vibrancy and diversity. As the global economy continues to evolve and consumer demands shift, the area rugs market will likely remain dynamic, adapting to meet the ever-changing needs and preferences of consumers around the world.
Area rugs have become an integral part of interior design, offering a blend of functionality and aesthetics. These versatile floor coverings serve various purposes, from enhancing the visual appeal of a room to providing warmth and comfort underfoot. The global area rugs market has witnessed steady growth over the years, driven by a combination of factors that cater to changing consumer preferences and lifestyles.
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The area rugs market is not without its challenges, but it continues to evolve in response to changing consumer preferences, sustainability concerns, and economic fluctuations. Manufacturers and retailers must adapt to these challenges by embracing sustainability, enhancing brand protection, and staying attuned to shifting design trends. By addressing these challenges proactively, businesses in the area rugs market can position themselves for long-term success in a dynamic and competitive industry.
The area rugs market is ever-evolving, driven by changing consumer preferences, technological advancements, and shifts in interior design trends. As consumers seek unique and innovative ways to enhance their living spaces, the area rugs market responds with a variety of new trends. The area rugs market is continuously evolving, driven by consumer preferences, technological advancements, and changing interior design trends. Sustainable materials and eco-friendly practices, customization and personalization options, digital printing technology, vintage-inspired designs, geometric and abstract patterns, and the focus on texture and layering are just some of the major trends shaping the industry.
Manufacturers and retailers in the area rugs market must remain agile and adaptable to meet the ever-changing demands of consumers. By embracing these trends and incorporating them into their product offerings, businesses can position themselves for success in this dynamic and competitive market. Additionally, the use of contrasting colors and bold shapes allows consumers to make a design statement with their area rugs, making them a focal point in a room. These rugs can also provide a sense of movement and energy to an otherwise neutral space.
The popularity of geometric and abstract designs reflects a broader trend towards minimalism and contemporary aesthetics in interior design.
The global area rugs market is segmented based on type, material, application, and region.
Based on the type, tufted rugs contribute the largest market in the area rugs market. They account for more than 50% the global market share. Tufted rugs are made by punching loops of yarn into a backing material. This makes them relatively inexpensive to produce and easy to care for. They are also available in a wide variety of colors, patterns, and textures.
Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. In 2022, North America is anticipated to contribute the greatest contribution to the growth of the worldwide market. North America controls the majority of the global market for area rugs in terms of sales. The rise in per capita income, the expansion of residential and commercial development, and the rising use of carpet tiles in commercial areas are the main drivers of market expansion in this area.
Major companies operating in the global area rugs market are:
- Balta Group NV
- Berkshire Hathaway Inc.
- Capel Inc.
- Dixie Group Inc
- Harounian Rugs International
- Kalaty Rug Corp.
- Loloi Inc.
- Milliken & Co.
- Mohawk Industries Inc.
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“The area rugs market continues to experience steady growth, driven by factors such as evolving interior design trends, increased consumer awareness of home aesthetics, and a growing desire for customization. As consumers seek unique and sustainable flooring solutions, manufacturers are responding with innovative materials and designs. Additionally, the market’s expansion is fueled by e-commerce platforms, which provide convenient access to a wide range of area rugs. With sustainability and personalization playing pivotal roles, the area rugs market is poised for continued growth and adaptation to changing consumer preferences.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Area Rugs Market By Type (Tufted Rugs, Knotted Rugs, Hand-Woven Rugs, Others), By Material (Wool, Synthetics, Sisal, Jute Sea Grass, Animal Skins, Silk, Cotton, Others), By Application (Commercial, Residential), By Region, By Competition Forecast & Opportunities, 2018-2028F, has evaluated the future growth potential of the area rugs market globally and provides statistics and information on market structure, size, share, and future growth. The report provides cutting-edge market intelligence and helps decision-makers to make sound investment decisions. Besides, the report also identifies the emerging trends along with essential drivers, challenges, and opportunities present in the market of area rugs globally.
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