Saudi Arabia Carpet and Rugs Market Outlook
According to a new report by Expert Market Research titled “Saudi Arabia Carpet and Rugs Market Size, Share, Analysis, Report, Demand, Forecast 2023-2028″, the size of the carpet and rugs market in Saudi Arabia achieved an estimated valuation of around USD 1.68 billion. Forecasts indicate sustained growth in the market, with an anticipated compound annual growth rate (CAGR) of 5.2% expected between 2023 and 2028. This growth trajectory is anticipated to propel the market to a valuation of USD 2.25 billion by the year 2028. This growth is attributed to factors such as increasing urbanization, rising disposable incomes, changing consumer preferences, and the growing demand for aesthetically pleasing interior decor solutions.
Carpet and rugs play a vital role in enhancing the aesthetics and comfort of residential and commercial spaces. They are not merely floor coverings but also integral components of interior design, offering warmth, texture, and style to living spaces. As Saudi Arabia witnesses a surge in urban development and a growing real estate sector, the demand for carpets and rugs is on the rise.
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One of the driving forces behind the market’s growth is the increasing disposable income among Saudi Arabian households. As personal incomes rise, consumers are more willing to invest in home decor and furnishings, including carpets and rugs. Additionally, the perception of carpets and rugs as a status symbol and a means of personalizing living spaces is fueling their demand.
Changing consumer preferences and interior design trends are also contributing to market growth. Modern interior decor concepts often incorporate carpets and rugs as central elements, driving the need for a variety of designs, colors, and textures to cater to diverse consumer tastes.
Furthermore, the hospitality industry in Saudi Arabia, including hotels and resorts, is experiencing robust growth. These establishments require high-quality carpets and rugs not only for aesthetic purposes but also to enhance guest comfort, contributing to the market’s expansion.
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A Rug for Every Realm
The Saudi Arabian carpet and rugs market offers an exquisite array of options, catering to various tastes and preferences. From opulent handwoven silk carpets to intricately designed woolen rugs, this market showcases a remarkable diversity.
Traditional Elegance
Saudi Arabia has a deep-rooted appreciation for traditional design and craftsmanship. Handmade rugs, often adorned with intricate patterns and symbols, are highly sought after, reflecting the nation’s rich cultural heritage.
Modern Interpretations
In recent years, modern and contemporary rug designs have gained traction. These rugs, characterized by clean lines and bold colors, provide a fresh perspective while preserving the essence of quality craftsmanship.
Saudi Arabia Carpet and Rugs Market Segmentation
The Saudi Arabia carpet and rugs market can be segmented based on type, application, and region.
Market Breakup by Type
- Woven
- Tufted
- Knotted
- Others
Market Breakup by Application
- Residential
- Commercial
- Hospitality
- Offices
- Retail
- Others
Market Breakup by Region
- Riyadh
- Jeddah
- Mecca
- Dammam
- Others
Competitive Landscape
The EMR report provides a comprehensive analysis of the competitive landscape in the Saudi Arabia carpet and rugs market. It covers market shares, product innovations, investments, and strategic partnerships among key players. Some of the prominent companies explored in the report include:
- Al Sorayai Group
- Al Abdullatif Industrial Investment Company
- Al Sadoun Group
- Ege Carpets
- Riyadh Velvet Factory
- Oriental Weavers Group
- Al-Mira Center For Carpet And Furniture
- Mada Carpet Company (Al Rajhi Holding)
- Merinos A.S.
- Others
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