The Portuguese Carpets and Rugs market recorded a volume of 12.833 million square meters in 2023. Over recent years, the market has experienced fluctuations. From 2013 to 2023, peaks included a significant increase in 2017 and a decline in 2015. The year-on-year growth in the last two years was 5.72% in 2022, followed by a modest increase of 0.67% in 2023. The five-year CAGR stands at -0.24%, reflecting an overall stable but slightly declining market trend in volume.
Future trends to watch for:
- Potential market stabilization post-2023
- Influence of sustainable and eco-friendly material preferences
- Technology advancements in production boosting efficiency and variety
- Economic factors affecting consumer spending and home renovation trends
