The Europe Carpets and Rugs Market would witness market growth of 3.8% CAGR during the forecast period (2023-2030).
The growth of the organic and eco-friendly carpets and rugs trend will support the market. This is because people have recently started using eco-friendly carpets and rugs to improve the aesthetic of the interior at homes and commercial places as they are becoming more concerned about environmental factors. Natural rubber and non-toxic pads are used to create eco-friendly carpets and rugs. Trees are used to extract natural rubber, and rugs are free from toxic chemical adhesives. Organic rugs are also made of natural rubbers, and covers are made of 100% natural and organic jute plant fiber. Digital printing technology and features such as colors and patterns drive the market for an extended period.
Spending on home décor is being encouraged across the region by the rising income levels and a growing number of working women. As a result, consumers have begun investing more time and money in decorating their homes with the finest interiors they can afford. Access to a wide range of options and types is further facilitated by their widespread availability and the development of web platforms like Pinterest and design blogs. Consumers are becoming increasingly familiar with home furnishings brands through store displays and advertisements on various platforms.
According to the International Trade Administration (ITA), one of the biggest e-commerce sectors in Europe is found in Germany. The number of consumers engaging in e-commerce, internet penetration, and annual expenditures are above the European average. Total sales in 2021 were USD 127.5 billion, a 24 percent increase over 2020. Germany’s online population is projected to grow from 62.4 million in 2020 to 68.4 million in 2025. In 2021, the German market experienced a 77 percent penetration of e-commerce. Online platforms make it easy for consumers to investigate various options and purchase. Thus, the market will expand rapidly in the region owing to all of the aforementioned elements.
The Germany market dominated the Europe Carpets and Rugs Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $6.5 billion by 2030. The UK market is estimated to grow at a CAGR of 2.9% during (2023 - 2030). Additionally, The France market would exhibit a CAGR of 4.5% during (2023 - 2030).
Based on Application, the market is segmented into Residential, and Commercial. Based on Material, the market is segmented into Synthetic Fibers, Animal Yarn, and Plant-made Yarn. Based on Product Type, the market is segmented into Tufted, Woven, Knotted Pile, Needle Punched, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Carpets and Rugs Market is Projected to reach USD 102.4 Billion by 2030, at a CAGR of 4.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Tai Ping Carpets, Mohawk Industries Inc., Lowe's Companies inc., Tarkett group, Victoria PLC Group (Victoria Carpets Ltd), Shaw Industries Group, Inc. (Berkshire Hathaway, Inc.), Interface Inc., Beaulieu International Group, Royalty Carpet, and Oriental Weavers
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