Rising Interior Decoration Trends Driving the Carpets and Rugs Market, says Market.us
Carpets and rugs have become popular decoration choices in many households to brighten up rooms. Grocery stores offer an extensive selection of carpets in various colors, designs, and textures to attract customers’ attention and encourage them to purchase such items. Plush carpets have become particularly popular as living room decorations due to their plush feel.
The demand for smart rugs and carpets is expected to increase due to the rising popularity of new housing options, as well as home decor trends. Furthermore, urbanization rates and rising standards of living have all contributed to an uptick in sales of smart rugs & Carpets. Furthermore, consumers are shifting towards eco-friendly flooring carpets made from bamboo or wool materials.
According to research by Market.us, “The Global Carpets and Rugs Market was valued at USD 82.5 billion in 2022. It is expected to grow at a 5.4% CAGR and expected to reach USD 139.6 billion in 2032 during the forecast period 2023 and 2032.”
Anurag Sharma, a senior research analyst at Market.us, said, “Carpet and rug demand was once at its highest in industrialized countries. However, this trend has shifted recently as people are spending more on cosmetic improvements to their homes and offices due to the economic recovery. Furthermore, in developing countries, there is expected to be an increase in disposable income which should support market expansion.”
Carpets and rugs have long been valued for their aesthetic appeal as well as practical properties like slip prevention and heat insulation. Not only do these protect floors, but rugs can also add visual interest to the decor of your home or office.
The market for carpets and rugs will continue to expand due to an increasing interest in interior decoration. Furthermore, this sector will gain from the expansion of end-use industries.
Global carpets and rug market growth is expected to be driven by rising consumer preference for interior decor as well as rising per capita disposable income.
The global carpet and rug market has been driven by the expansion of the transportation and construction industries. The trend toward bold non-geometric patterns in carpets is expected to remain a key driver in this space.
The carpets and rug market is a significant segment of the global home decor industry. Unfortunately, several restraining factors hinder its expansion, such as increasing demand for hard flooring surfaces like wood, tile, or vinyl which offer durability and low upkeep options for consumers. As such, demand for carpets and rugs has decreased over the years, particularly in warmer climates where people prefer cooler flooring options.
Another limiting factor is the rise in raw material costs, such as wool, silk, and synthetic fibers used in carpet and rug production. These fluctuating costs have contributed to higher pricing for these items – making them unaffordable for many consumers.
Carpet and rug manufacturers are adapting to meet customer demands in an ever-changing industry. Customers increasingly desire unique, personalized items that showcase their individual styles, so carpet manufacturers are responding by providing a wide range of colors, patterns, and designs that can be personalized for specific customer requirements.
Another trend in the carpet and rug market is an increasing interest in eco-friendly and sustainable products. Consumers are becoming more mindful of their impact on the environment, seeking out items made with renewable materials or produced using sustainable manufacturing practices.
As a result, many carpet manufacturers are adopting eco-friendly production techniques, using recycled materials, and creating carpets and rugs that are biodegradable or recyclable.
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