The global decorative rugs market is projected to reach USD 5.81 billion by 2030, growing at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. This growth is being fueled by innovative trends and evolving consumer preferences. The demand for decorative rugs is expected to continue rising due to several factors, including their ability to add warmth and character to living spaces, enhancing the overall ambiance. Additionally, there is a growing preference for sustainable and ethically sourced products, which has sparked increased interest in handcrafted rugs. The rise of online shopping has also made it easier for consumers to explore and purchase a wide range of rugs, further propelling the market's growth.

Online shopping, in particular, is significantly contributing to the expansion of the decorative rugs market by providing consumers with access to competitive pricing, customer ratings, reviews, and the ability to compare different products. According to a 2022 survey by Digital Commerce 360, nearly half of shoppers prefer features like zooming into product images and accurate delivery windows—capabilities that online platforms can efficiently offer. Furthermore, the increasing use of smartphones for researching and purchasing home goods indicates a growing trend of online shopping, where consumers can access a vast array of rugs and home décor items, thus fueling the market’s growth.

Mergers and acquisitions are playing a pivotal role in advancing market growth. A notable example is Surya’s acquisition of the Mitchell Gold + Bob Williams brand in November 2023. Surya, a U.S.-based rug company, also purchased outdoor furniture brand RST Brands and home décor wholesaler Global Views earlier in 2023. These acquisitions have expanded Surya's market presence and product offerings, and highlight a broader trend of companies strengthening their positions by acquiring established brands and valuable intellectual property. Such strategic acquisitions increase market competitiveness, foster innovation, and contribute to product diversification, ultimately benefiting consumers with a greater range of options in the decorative rugs market.

Market players are also becoming more attuned to the changing demands of younger consumers who are entering the housing market. For example, Rugvista launched its 'Essentials' sub-brand in December 2022, targeting first-time homeowners aged 18-35. This strategic move not only expands Rugvista’s customer base but also contributes to the overall growth of the decorative rugs industry. By offering affordable yet stylish options, Rugvista is making the market more accessible and attractive to a broader demographic.

Product launches and collaborations have been key drivers of growth in the decorative rugs sector, with innovative designs attracting new consumer segments. In February 2024, Ruggable unveiled a collection of rugs inspired by the Netflix TV series Bridgerton. This collection features six rugs with Rococo-inspired embellishments, bold colors, and Regency patterns. Ruggable is a well-known rug brand, celebrated for its innovation and practicality. The brand's rugs are machine washable and durable, making them particularly appealing to families and pet owners.

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Key Highlights from the Decorative Rugs Market Report:

• Machine-made Decorative Rugs: In 2023, machine-made decorative rugs held the largest market share. This is mainly due to their affordability, consistent quality, and ability to replicate intricate patterns and textures. Machine-made rugs are also more widely available than handmade rugs, making them accessible to a broader consumer base.

• Cotton Decorative Rugs: Demand for cotton decorative rugs is expected to grow at the fastest CAGR from 2024 to 2030. Cotton rugs are favored for their softness, breathability, and versatility. They are lightweight, easy to maintain, and align with the growing consumer preference for sustainable and eco-friendly products, given cotton’s natural and renewable characteristics.

• Residential Sector: The residential sector accounted for the largest market share in 2023. Decorative rugs are particularly popular in homes because they can enhance the aesthetics of living spaces by adding warmth, color, and personality. Homeowners frequently use them to create cozy, stylish interiors.

• Online Sales Channel: Sales of decorative rugs through online channels are expected to grow at the fastest CAGR from 2024 to 2030. Consumers benefit from the ability to easily browse and compare a wide range of rugs from different retailers, which helps them find products that suit their style and budget. Online platforms also offer access to unique and niche rug designs not always found in traditional brick-and-mortar stores, fueling growth in this segment.

• Regional Insights – North America: North America dominated the global market share in 2023. The region has a strong culture of home décor and interior design, which drives high demand for decorative rugs. Furthermore, the affluent population in North America is willing to invest in high-quality and luxurious rugs, further boosting the market's growth and market share dominance.

Browse through Grand View Research's Homecare & Décor Industry Research Reports.

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Decorative Rugs Market Segmentation

Grand View Research has segmented the global decorative rugs market based on product, material, end-use, distribution channel, and region:

Decorative Rugs Product Outlook (Revenue, USD Billion, 2018 - 2030)

• Machine-Made Rugs

• Hand-tufted Rugs

• Hand-knotted Rugs

• Flatweave Rugs

• Others

Decorative Rugs Material Outlook (Revenue, USD Billion, 2018 - 2030)

• Wool

• Jute

• Polyester

• Cotton

• Nonwoven

• Others

Decorative Rugs Application Outlook (Revenue, USD Billion, 2018 - 2030)

• Residential

• Commercial

Decorative Rugs Distribution Channel Outlook (Revenue, USD Billion, 2018 - 2030)

• Hypermarkets & Supermarkets

• Specialty Stores

• Online

• Others

Decorative Rugs Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America

o U.S.

o Canada

o Mexico

• Europe

o Germany

o UK

o Spain

o Italy

o France

• Asia Pacific

o China

o India

o Japan

o Australia

o South Korea

• Central & South America

o Brazil

• Middle East & Africa

o South Africa

List of Key Players in the Decorative Rugs Market

• Balta Group

• Mohawk Industries Inc.

• Oriental Weavers Group

• Nourison

• Capel Rugs

• Harounian Rugs International

• Loloi Inc.

• Milliken and Co.

• Momeni Inc.

• Agnella

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