The number of employees in the UK's carpets and rugs sector saw significant fluctuations from 2013 to 2023. In 2023, the sector employed 4.9 thousand people. While the early years, like 2014, displayed strong growth with a 10.49% increase, other years like 2015 and 2019 noted declines of 15.8% and 3.8% respectively. From 2018 to 2023, a consistent decline is observed with minor fluctuations, yielding an average yearly decline (CAGR) of -1.88% over the last five years.
Looking at forecasted data from 2024 to 2028, the downward trend is expected to persist, albeit at a slower rate, with an anticipated average yearly decline (CAGR) of -1.2%. By 2028, the sector is estimated to employ 4.55 thousand individuals, marking a 5.84% decrease from 2023 levels.
Future trends to watch for include:- Advances in automation and efficiency enhancements.- Potential shifts in consumer preferences towards sustainable and eco-friendly products.- Economic factors influencing disposable income and housing market dynamics.- Trade policy changes impacting import/export dynamics in the sector.