Market Insights report
Revenue in the Floor Covering market amounts to US$15.2bn in 2023. The market is expected to grow annually by 2.78% (CAGR 2024-2029). In global comparison, most revenue is generated in the United States (US$5,819m in 2023). In relation to total population figures, per person revenues of US$1.97 are generated in 2023. This report is part of the Consumer Market Insights series.
What's included?
This report from the series of Consumer Market Insights reports provides a comprehensive overview of the Floor Covering market, which focuses on materials designed to enhance both the aesthetic appeal and comfort of floors. The segment centers on parquet panels, typically made from hardwoods like oak, maple, or cherry, available in various forms such as solid or engineered hardwood. Parquet panels are valued for their durability, natural beauty, and design versatility, making them a preferred choice among homeowners and interior designers. The market encompasses B2C revenue data, with average revenue per capita considering the entire population, and previously included the Carpet & Rugs segment, which now falls under the Home Decor category in the Furniture market.
The global demand for floor coverings sold through DIY and hardware stores is seeing minimal growth, affected by economic downturns, supply chain disruptions, and shifting consumer preferences. However, certain advantages, such as the ease of DIY installation and the rising focus on eco-friendliness, continue to sustain interest in the market. Many consumers are opting for floor coverings that are environmentally sustainable, aligning with a broader trend towards greener living solutions and the increasing popularity of home renovation projects.
Consumer preferences are evolving, with a growing emphasis on sustainability and eco-friendly options in floor coverings. Rising awareness of environmental issues and the desire for healthier living spaces have led to higher demand for products that use sustainable materials and production methods. Manufacturers who focus on developing eco-conscious and recyclable flooring products are gaining a competitive edge. Furthermore, there is an increasing demand for luxury and high-end flooring, especially in developing countries, presenting potential opportunities for growth in the global market.
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