IMARC Group's report titled "Area Rugs Market Report by Type (Wool Area Rug, Synthetics Area Rug, Sisal, Jute and Sea Grass Area Rug, Animal Skins Area Rug, Silk Area Rug, Cotton Area Rug, and Others), Weave Type (Handmade Area Rugs, Machine-Made Area Rugs), Distribution Channel (Online, Offline), Application (Commercial, Residential), and Region 2024-2032". The global area rugs market size reached US$ 34.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 54.2 Billion by 2032, exhibiting a growth rate (CAGR) of 4.9% during 2024-2032.
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Factors Affecting the Growth of the Area Rugs Industry:
- Increasing Home Decor Trends:
Area rugs are versatile decorative elements that can be easily incorporated into various home decor styles, including modern, traditional, bohemian, or Scandinavian. As home decor trends are evolving, people are seeking out area rugs to update and enhance the look of their living spaces without the need for costly renovations or furniture replacements. Moreover, in many home decor styles, area rugs serve as statement pieces that anchor the room and tie together other design elements. As trends shift towards bold colors, patterns, and textures, people are more inclined to invest in eye-catching area rugs to add personality and visual interest to their interiors.
- Rising Housing Construction:
As new homes are being constructed, homeowners are seeking to personalize and decorate their living spaces. Area rugs offer a quick and effective way to add style, warmth, and personality to newly built homes, making them essential accessories for many new homeowners. Furthermore, homebuilders and real estate developers often use area rugs to stage model homes and showcase various interior design styles to potential buyers. The use of well-chosen area rugs helps in creating inviting and visually appealing living spaces, enticing prospective homeowners to envision themselves living on the property.
- Expansion of Online Retail:
Online retail platforms are making area rugs more accessible to people worldwide. Shoppers can browse a vast selection of rugs from the comfort of their own homes, eliminating the need to visit multiple physical stores to find the perfect rug. In addition, online shopping offers unparalleled convenience and ease of shopping for area rugs. Individuals can compare prices, read reviews, and make purchases at any time of day or night without having to visit physical stores. Additionally, hassle-free delivery options make it convenient for people to receive their rugs directly at their doorstep.
Leading Companies Operating in the Global Area Rugs Industry:
- Amar Carpets
- Amer Rugs
- Balta Industries nv
- Capel Incorporated
- Harounian Rugs International Co. Inc.
- Houzz Inc.
- Milliken & Company
- Mohawk Industries Inc.
- Nourison Industries Inc.
- Oriental Weavers
- Shaw Industries Group Inc.
- The Natural Carpet Company.
Area Rugs Market Report Segmentation:
By Type:
- Wool Area Rug
- Synthetics Area Rug
- Sisal, Jute and Sea Grass Area Rug
- Animal Skins Area Rug
- Silk Area Rug
- Cotton Area Rug
- Others
Wool area rug represents the largest segment due to its natural durability, resilience, and ability to withstand heavy foot traffic.
By Weave Type:
- Handmade Area Rugs
- Machine-Made Area Rugs
Machine-made area rugs account for the majority of the market share as they are more affordable than their handmade counterparts, making them accessible to a wider range of people.
By Distribution Channel:
- Online
- Offline
- Specialty Stores
- Supermarkets and Hypermarkets
- Others
On the basis of the distribution channel, the market has been bifurcated into online and offline.
By Application:
- Commercial
- Residential
Residential exhibits a clear dominance in the market due to the rising homeownership rates, coupled with increasing disposable incomes.
Regional Insights:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
North America enjoys the leading position in the area rugs market on account of its diverse demographic landscape and varied architectural styles.
Global Area Rugs Market Trends:
With increasing awareness among the masses about environmental issues, people are seeking sustainable and eco-friendly products, including area rugs made from natural fibers like wool, cotton, jute, or bamboo. Key players are responding to this demand by offering eco-friendly options, thereby supporting the growth of the market.
Additionally, ongoing advancements in technology are leading to the development of high-tech area rugs with features, such as stain resistance, antimicrobial properties, and smart integration. These innovative rugs cater to individuals desire for style and functionality in their living spaces.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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