Analysis of turnover in the Belgian carpets and rugs sector reveals notable fluctuations over the past decade. From 2013 to 2023, the sector experienced a general decline, particularly marked between 2018 and 2020 with the lowest point in 2020 at €0.97 billion. A moderate recovery started in 2021, with the turnover standing at €1.27 billion in 2023. The year-on-year growth was 4.46% in 2023. The last five years showed an average annual increase of 1.46% (CAGR).
Future trends to watch for:
- Expected decline in turnover from 2024 to 2028 with a forecasted 3.01% annual decrease (CAGR), culminating in a 14.18% total reduction by 2028.
- Potential market shifts due to evolving consumer preferences and economic factors.
