Decorative Rugs Market Size To Reach $5.81 Billion By 2030

Decorative Rugs Market Growth & Trends

The global decorative rugs market size is expected to reach USD 5.81 billion by 2030, expanding at 6.2% CAGR from 2024 to 2030, according to a new report by Grand View Research, Inc. Innovative trends and changing consumer preferences are driving this growth. The demand for decorative rugs is likely to continue growing due to several factors. They add warmth and character to living spaces, enhancing the overall ambiance. Additionally, the trend of sustainable and ethically sourced products has increased interest in handcrafted rugs. Also, the rise of online shopping has made it easier for consumers to discover and purchase a wide variety of rugs, fueling the market's growth.

The rise in online shopping is propelling the decorative rugs industry’s growth by meeting consumers' demand for access to pricing, customer ratings, and reviews, as well as the ability to compare products. Nearly half of shoppers also seek features like zooming into images and accurate delivery windows, which online platforms can provide efficiently, according to a 2022 survey by Digital Commerce 360. Additionally, the increasing use of smartphones for researching and purchasing home goods indicates a growing trend of online shopping, where consumers can access a wide variety of rugs and home decor options, driving the market's growth.

Mergers and acquisitions are playing a significant role in propelling the market growth, exemplified by Surya's recent acquisition of the Mitchell Gold + Bob Williams brand in November 2023. Surya is a U.S.-based rug company, which purchased both the outdoor furniture brand RST Brands and the home decor wholesaler Global Views earlier in 2023. This move not only expanded Surya's reach and offerings to the design community but also highlighted the trend of companies seeking to strengthen their positions by acquiring established brands and intellectual property. Such strategic acquisitions can lead to increased market competitiveness, innovation, and product diversification, ultimately benefiting consumers with a wider range of choices in the decorative rugs industry.

Market players are increasingly responsive to the changing demands of younger consumers entering the housing market. Rugvista, for instance, launched its 'Essentials' sub-brand in December 2022, specifically targeting first-time homemakers aged 18-35. This strategic move not only expands Rugvista's customer base but also bolsters the overall growth of the decorative rugs industry. By offering affordable yet stylish options, Rugvista is making the market more inclusive and appealing to a broader demographic.

Product launches and collaborations have been driving the industry’s growth by introducing innovative designs and attracting new consumer segments. In February 2024, Ruggable launched rugs inspired by the Netflix TV series Bridgerton. The collection features six rugs with Rococo-inspired embellishments, bold colors, and Regency patterns. Ruggable is a prominent rug brand known for its innovation. Its products are ideal for families and pet owners alike. Their rugs are washable and durable, making them an ideal choice for consumers.

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Decorative Rugs Market Report Highlights

• Machine-made decorative rugs held a dominant market share among all decorative rug types in 2023. The increasing demand for decorative rugs can be attributed to their affordability, consistent quality, and ability to replicate intricate patterns and textures. Unlike handmade rugs, these machine-made rugs are widely available, making them accessible to a broader consumer base.

• Demand for cotton decorative rugs is expected to rise at the fastest CAGR from 2024 to 2030. The popularity of cotton rugs stems from their soft texture, breathability, and versatility. They are lightweight and easy to maintain, making them ideal for various indoor spaces. Moreover, as a natural and sustainable material, cotton aligns with the growing consumer preference for eco-friendly products.

• Demand for decorative rugs in the residential sector held the largest market share in 2023. This is due to their ability to enhance the aesthetics of homes. These rugs add warmth, color, and personality to living spaces, making them popular among homeowners looking to create cozy and stylish interiors.

• Sales of decorative rugs through online channel is set to grow at the fastest CAGR from 2024 to 2030. Consumers can easily browse and compare a wide range of rugs from various retailers, enabling them to find the perfect rug to suit their style and budget. Additionally, online shopping provides access to unique and niche rug designs that may not be available in traditional brick-and-mortar stores, further driving the segment’s growth.

• North America held a dominant share of the global revenue in 2023. The region has a strong culture of home decor and interior design, driving demand for rugs. Additionally, the affluent population in North America is willing to invest in high-quality, luxurious rugs, further boosting the market's growth and dominance.

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

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • Spain

  • Italy

  • France

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

  • South Korea

• Central & South America

  • Brazil

• Middle East & Africa

  • 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