Market Research Report
India Carpets and Rugs Market - Growth, Trends, and Forecasts (2020 - 2025)
|Published by||Mordor Intelligence Pvt Ltd||Product code||937905|
|Published||Content info||120 Pages
Delivery time: 2-3 business days
|India Carpets and Rugs Market - Growth, Trends, and Forecasts (2020 - 2025)|
|Published: August 1, 2020||Content info: 120 Pages||
Carpets and rugs are widely used as decorative home flooring products in residential and commercial places in India. The main factors driving the demand of carpets and rugs market in India are urbanization, rising construction, rapid growth in base of the middle-class population, demand for well-equipped furniture houses, lifestyle changes, and increased spending on home furnishings and interiors. The country's growth is mainly driven by the demand for decorative and ornamental rugs rather than carpet flooring.
The rising construction industry is another major factor driving the growth of carpets and rugs in residential and non-residential segments. Carpets and rugs are mainly seen as materials that modify the structure of a place by adding comfort, warmth, and cushion to the place. Various kinds of rugs such as bedroom rugs, living room rugs, shag rugs, office rugs, wool rugs, braided rugs, and other flooring rugs are preferred in the market. Carpets made from new fibers like jute, linen, hemp, blended materials with the help of technologies are trending in the market. With an increase in concerns over environmental issues, consumers in the market are showing interest in carpets and rugs made up of recycled raw materials, waste, used an,d discarded products.
India is a Global Leader in Hand-made Carpets
India is currently a leader in the production of handmade carpets in terms of both volume and value. Its heritage in the handmade carpets is recognized in the world with its recognizable share in the global exports. As a matter of fact, 90% of the carpets produced in India are exported. During April-November 2019, exports of handmade carpets from India stood at INR 64,407.19 crore (USD 916.15 million).
India exports carpets to more than 70 countries worldwide. Major importers for the Indian woven carpets are the United States, Germany, Canada, the United Kingdom, Australia, South Africa, France, Italy, Brazil, etc. With the advent of globalization, new opportunities are opening for the Indian carpet market in developing countries.
Woven Carpets Dominated the Market, Tufted Carpets Demand Expected to Rise
Carpet weaving is an ancient Indian tradition tracing back its origin from 16th-century Persian carpets and rugs. The carpets manufactured are usually hand-knotted, and they have various motifs in their designs. The Indian carpet industry is a rural-based, labor-intensive handicraft industry. The buyers and weavers highly prefer Indian silk carpets because of their originality, color, quality, design, and durability.
However, tufted carpet d demand is expected to rise in the market because of the use of synthetic materials, which makes it cheaper, and the making of carpets is also less labor-intensive. Consumers' preference is dynamically changing in the market, and they prefer carpets that are washable and affordable.
The Indian carpets and rugs market is highly competitive and fragmented in nature. There are over 2000 manufacturers present in the market. Various designs, colors, motifs, floral designs carpets are manufactured in India. Manufacturers are investing in innovative technology and research to remain competitive in the market and provide variety to consumers. Therefore, Indian weavers are continually evolving the design and weaving techniques to suit contemporary consumers' tastes and lifestyles in the market. Saif carpets launched Desco and braided rugs, the unique feature of these carpets is that they are eco-friendly, water-resistant, and easy to clean using a cloth and wipe.