Market Insights Consumer Furniture Home Décor

Carpets & Rugs - G7

In 2024, the Carpets & Rugs market in G7 countries is projected to generate a revenue of US$29.34bn.
It is anticipated that this market will experience an annual growth rate of 3.01% (CAGR 2024-2029).
Among the G7 nations, in the United States leads the way in terms of revenue generation, with a projected revenue of US$18,450m in 2024.
When considering the population size of each country, the per person revenue in the Carpets & Rugs market is estimated to be US$37.70 in 2024.
In the United States, the demand for high-quality handmade Persian rugs has been steadily increasing among affluent consumers.

Key regions: Canada, France, China, Brazil, United States

Market

Region

Region comparison

Currency

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is segmented by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen and Dining room, Bathroom, Outdoor, and Home Office. The Furniture market also includes Lamps and Lighting and Home Decor because the furnishings and accessories within these segments are not specific to any room.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as consumer spending and GDP. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing is well suited for forecasting the Furniture market with a projected steady growth. The main drivers are furniture and furnishings, carpets and other floor coverings, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.