Global Decorative Rugs Market is poised to exhibit a robust growth rate from 2023 to 2032 owing to the growth of the hospitality and commercial sectors worldwide.
Hospitality and commercial spaces, including hotels, restaurants, and offices, are significant consumers of decorative rugs. The demand for decorative rugs in these sectors is driven by the need to create attractive and comfortable spaces for guests, clients, and employees. The consistent population growth and urbanization across both developed and developing economies and the subsequent expansion of commercial infrastructure will strengthen the market outlook through 2032.
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The decorative rugs market is segmented according to product, material, end-use, and region.
The hand-knotted decoration rugs market is anticipated to grow at around 11% CAGR from 2023-2032. In recent years, the trends in hand-knotted rugs have shifted towards sustainable and ethical production, with a growing demand for rugs made from eco-friendly materials and produced using fair labor practices. Moreover, the rising preference for modern designs and color palettes that complement contemporary interior styles, including abstract patterns, geometric motifs, and neutral colors, will favor segment growth.
As per material, the decorative rugs industry from the wool segment is set to garner commendable gains driven by the growing inclination towards eco-friendly and sustainable options, softness, and comfort underfoot. Wool rugs are sought after for their luxurious feel, organic aesthetic, and ability to blend with various interior design styles. Furthermore, there is a high demand for handcrafted rugs in natural colors and textures that offer an artisanal appeal, which will boost segment growth.
The decorative rugs market from the commercial end-use segment is expected to grow significantly owing to the increasing number of commercial spaces, such as hotels, offices, retail stores, and restaurants, recognizing the importance of aesthetics and creating inviting environments for their customers.
Moreover, decorative rugs play a significant role in enhancing the ambiance and visual appeal of these spaces. Additionally, decorative rugs offer practical benefits such as noise reduction, improved comfort, and durability, making them a popular choice for high-traffic areas, further contributing to segment growth.
Europe decorative rugs market is expected to exceed USD 1.3 billion by the end of 2032, driven by increasing consumer knowledge of home aesthetics, rising disposable income, and growing demand for luxury and sustainable home decor items. Europe is home to nations like the United Kingdom, Germany, France, Italy, Spain, and others, all of which work together to fuel the expansion of the decorative rug industry there. Furthermore, the commercial segment, which includes hotels, restaurants, retail spaces, and offices, contributes to the rising need for decorative carpets in Europe.
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Table of Contents (ToC) of the report:
Chapter 1 Methodology and Scope
1.1 Market definition
1.2 Base estimates & working
1.2.1 North America
1.2.2 Europe
1.2.3 Asia Pacific
1.2.4 Latin America
1.2.5 Middle East & Africa
1.3 Forecast calculations.
1.3.1 COVID-19 impact calculations on industry forecast.
1.4 Data Sources
1.4.1 Primary
1.4.2 Secondary
Chapter 2 Executive Summary
2.1 Global decorative rugs industry 360° synopsis, 2018 - 2032.
2.1.1 Business trends
2.1.2 Product trends
2.1.3 Material trends
2.1.4 Distribution channel trends
2.1.5 End-use trends
2.1.6 Regional trends
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