The global bathroom cabinets market size is expected to reach USD 66.47 billion by 2030, according to a new study by Polaris Market Research. The report “Bathroom Cabinets Market Share, Size, Trends, Industry Analysis Report, By Application (Residential, Non-Residential), By Material, By Size; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The global bathroom cabinets market is expanding moderately due to rising housing development projects requiring high-end household amenities. There is an increasing demand for custom countertop materials such as artificial stone, lava stone, granite, and marble.
Industry growth is expected to accelerate during the forecast due to the wide range of patterns, affordability of prices, and accountability of these products in bathroom applications. Premium pricing of high-quality products and high design costs are expected to impede bathroom vanities market growth over the forecast period. This report examines the impact of key drivers, restraints, challenges, and opportunities on market growth and the bathroom cabinet market's qualitative and quantitative aspects.
Asia Pacific was identified as the largest market for bathroom cabinets in 2021. This expansion is attributed to rising demand from developing economies such as China and India, which have a thriving real estate industry and are developing infrastructure facilities. In 2021, the Asia Pacific region contributed 36.22% of revenue. Over the forecast period, the region is expected to experience the highest growth rate of 6.4%. North America was the second largest region in the global bathroom cabinets market in 2021, accounting for 26.06% of revenue.
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Bathroom cabinets have seen significant design and technological advancement in recent decades, resulting in impressive styling and remodeling demand. Trend watchers first noticed the first stirrings of the inclusion of furniture in the bathroom over a decade ago. Today, this is standard practice, with a wide range of beautiful and long-lasting furniture designed specifically for bathroom applications. For the construction of a bathroom cabinet, various types of wood, such as MDF, plywood, or chipboard, among others, are used. The availability of higher-quality MDF (Medium-Density Fiberboard) is expected to boost demand for wooden cabinets shortly. Residential applications accounted for the majority of revenue contribution among application areas in the bathroom cabinet industry. In the first half of 2021, the global direct commercial real estate market fell by 29 percent to approximately US $ 320 billion. The main reason for the drop was a travel ban, which influenced cross-border investments. As a result, short-term capital deployment plans have been delayed or canceled. However, the situation in Japan, Germany, and South Korea remained positive. Japan experienced a 7% increase in GDP.
Because of convenience and mass reach, online purchasing is increasingly preferred over traditional purchasing. The entire purchasing process is completed online without physical effort or travel, saving time and enriching the purchasing experience. As the internet's penetration grows, many users now have access to online platforms. Various manufacturers have their online retailing platforms. They also use third-party online platforms to reach a large number of customers. Bathroom cabinet product revenue is increasing as the e-commerce industry grows, as they have significant revenue sharing in e-commerce retailing. As a result, the growing e-commerce industry is propelling the market’s global revenue.
Bathroom Cabinets Market Report Highlights
Polaris Market Research has segmented the bathroom cabinets market report based on application, material, size and region:
Bathroom Cabinets, Application Outlook (Revenue - USD Billion, 2022 - 2030)
Bathroom Cabinets, Material Outlook (Revenue - USD Billion, 2022 - 2030)
Bathroom Cabinets, Size Outlook (Revenue - USD Billion, 2022 - 2030)
Bathroom Cabinets, Regional Outlook (Revenue - USD Billion, 2022 - 2030)