Bathroom Accessories Market Share, Size, Trends, Industry Analysis Report, By Product; By Application (Residential, Commercial); By Distribution Channel (Online, Offline); By Region; Segment Forecast, 2023 - 2032
- Published Date:May-2023
- Pages: 120
- Format: PDF
- Report ID: PM2080
- Base Year: 2022
- Historical Data: 2019-2021
Report Outlook
The global bathroom accessories market was valued at USD 20.95 million in 2022 and is expected to grow at a CAGR of 10.6% during the forecast period. The rise of smart home technology has increased demand for smart bathroom accessories like smart mirrors, faucets, and toilets. Additionally, sustainability is becoming increasingly important to consumers, leading to a growing trend toward eco-friendly bathroom accessories made from bamboo, recycled plastic, and reclaimed wood. Minimalistic designs are also gaining popularity, with simple and clean strategies that promote relaxation and calmness. High-end bathroom accessories made from premium materials like marble, brass, and gold are also in demand among consumers who want to create a luxurious bathroom experience.
To Understand More About this Research: Request a Free Sample Report
There is a growing consumer demand for bathroom accessories that promote wellness and self-care, such as showerheads with aromatherapy functions or heated towel racks. These accessories typically feature durable and decorative finishes, including soap dishes and towel racks. With the housing sector expanding, associated industries such as bathroom accessories are expected to experience significant growth in the coming years.
The rise in purchasing power of individuals, increasing urban population, growing number of nuclear families, rapid urbanization, and government initiatives providing easy loans are among the factors driving this growth.
The real estate industry is catering to the demand for built-up spaces across various property segments such as offices, residential units, shopping malls, hospitality establishments, manufacturing facilities, and logistics centers. As a result, the housing sector is anticipated to witness significant growth, consequently driving the demand for bathroom accessories, an essential component of modern infrastructure.
Furthermore, expanding the middle-class population and growing urbanization in the countries will likely drive the demand for residential properties in the coming years. As property and commercial development expand, the bathroom accessories industry is expected to experience increased demand. Furthermore, rising disposable income and evolving consumer lifestyles in emerging markets such as China and India are expected to boost bathroom accessories market growth.
The COVID-19 pandemic has had a mixed impact on the Bathroom Accessories Market. On the one hand, the increased focus on personal hygiene and wellness during the pandemic has led to a surge in demand for bathroom accessories such as soap dispensers, touchless faucets, and air purifiers. On the other hand, the pandemic has disrupted supply chains and manufacturing operations, causing delays in production and shipment of bathroom accessories. The economic slowdown caused by the pandemic has affected consumer spending, leading to a decline in demand for non-essential bathroom accessories.
For Specific Research Requirements, Request for a Sample Report
Industry Dynamics
Growth Drivers
There is an increasing demand for premium and luxury bathroom accessories due to the rising disposable income and changing lifestyles of consumers. This includes high-end faucets, showerheads, and other bathroom fittings that offer improved functionality and aesthetics.
A growing focus on home renovation and remodeling drives the demand for modern and stylish bathroom accessories. As homeowners seek to upgrade their homes, they also want to update their bathrooms with accessories that offer better functionality, durability, and aesthetics.
Furthermore, the demand for bathroom accessories is also increasing due to the rise in construction activities across the globe. The construction of new buildings and homes drives the demand for bathroom accessories. Additionally, consumers are becoming more aware of the importance of hygiene and sanitation in their homes, leading to the need for bathroom accessories that promote cleanliness and easy maintenance.
Moreover, technological advancements in bathroom accessories, such as smart toilets and touchless faucets, are driving the growth of the market. There is also an increasing demand for eco-friendly and sustainable bathroom accessories, such as low-flow showerheads and water-saving toilets, due to the growing environmental consciousness of consumers.
Report Segmentation
The market is primarily segmented based on product, application, distribution channel, and region.
|
By Product |
By Application |
By Distribution Channel |
By Region |
|
|
|
|
To Understand the Scope of this Report: Speak to Analyst
Towel racks and rings segment accounted for the highest market share
The towel racks and rings segment holds the highest number of shares in the market. This is due to technological advancements, with heated towel rails becoming increasingly popular due to their ability to warm towels before use. As a result, there has been a rise in the availability of stylish and functional heated rails in the market.
The trend towards installing towel racks or rails has also led to the development of new products, including a wider range of finishes and colors such as rose gold, black, and white. Moreover, the growth in disposable income in many regions has increased the demand for luxury bathroom accessories, likely to fuel market growth worldwide.
Residential segment accounted for largest market shares in 2022
The residential segment accounted for the largest market share in 2022, driven by luxurious features such as built-in sensors and water-saving technology. In addition to residential use, bathroom accessories are essential in the hospitality sector and are increasingly employed by governments to ensure public sanitation.
Both hospitality companies and governments recognize the importance of providing quality restrooms and improving sanitation for the public, leading to increased demand for bathroom accessories. Furthermore, the growing trend towards eco-friendliness drives market growth in the global bathroom accessories industry. Governments are taking additional measures to raise awareness and discourage open defecation, promoting the use of washrooms, especially in rural areas.
North America dominated the global market in 2022
The Asia Pacific region holds the largest share of the market and is anticipated to exhibit the fastest growth during the forecast period. This is primarily due to the rapid increase in construction in countries like China and India and the emergence of high-growth economies such as Bangladesh, Myanmar, and Vietnam. China and India have historically dominated various social and economic indicators, including middle-class income growth, household spending, construction spending, and affordable housing programs.
However, the COVID-19 pandemic has significantly impacted construction projects in the region, resulting in low demand for construction materials and supply chain disruptions. Nevertheless, as many countries have implemented measures to reopen their economies, the construction industry is gradually recovering, contributing to stabilizing demand for materials.
However, Europe is anticipated to achieve the highest CAGR during the forecast period. The region is home to major economies, including the U.K., Germany, France, and Italy, with high household spending levels and well-established infrastructure sectors. The European market is distinguished by a robust intra-continental trade of goods, offering companies wide market access, and a high-income population, thanks to agreements within the European Union and Eurozone.
Competitive Insight
Some of the major players operating in the global bathroom accessories market include American Standard, ASI American Specialties, Inc., DELTA FAUCET COMPANY, Gerber Plumbing Fixtures LLC, GROHE Pacific Pte Ltd, Hansgrohe, LIXIL Corporation, Moen Incorporated, Monarch Bath Pvt. Ltd., Roca Sanitario, S.A., and TOTO Ltd.
Recent Developments
- In May 2022, SageHome Inc. partnered with Cairngorm Capital and acquired New Bath Today Inc. (NBT) as part of its strategy to expand its aging-in-place offering. The partnership with Cairngorm Capital and the acquisition of NBT is expected to drive the company's growth in this sector.
- In October 2021, Kohler and contemporary artist Daniel Arsham collaborated to design a limited-edition 3D-printed sink named Rock.01, showcased at Design Miami for purchase only 99 editions available.
Bathroom Accessories Market Report Scope
|
Report Attributes |
Details |
|
Market size value in 2023 |
USD 23.09 billion |
|
Revenue forecast in 2032 |
USD 57.05 billion |
|
CAGR |
10.6% from 2023 – 2032 |
|
Base year |
2022 |
|
Historical data |
2019 – 2021 |
|
Forecast period |
2023 – 2032 |
|
Quantitative units |
Revenue in USD million/billion and CAGR from 2023 to 2032 |
|
Segments Covered |
By Product, By Application, By Distribution Channel, By Region |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
|
Key Companies |
American Standard, ASI American Specialties, Inc., DELTA FAUCET COMPANY, Gerber Plumbing Fixtures LLC, GROHE Pacific Pte Ltd, Hansgrohe, LIXIL Corporation, Moen Incorporated, Monarch Bath Pvt. Ltd., Roca Sanitario, S.A., and TOTO Ltd. |
FAQ's
The global bathroom accessories market size is expected to reach USD 57.05 billion by 2032
Key players in the bathroom accessories market are DELTA FAUCET COMPANY, Gerber Plumbing Fixtures LLC, GROHE Pacific Pte Ltd, Hansgrohe, LIXIL Corporation, Moen Incorporated
North America ontribute notably towards the global bathroom accessories market
The global bathroom accessories market expected to grow at a CAGR of 10.6% during the forecast period
The bathroom accessories market report covering key segments are product, application, distribution channel, and region.
