The global bathroom vanities were valued at USD 36,047.21 Million in 2021, and it is expected to reach USD 46,038.15 Million by 2028 with growth at a CAGR of 3.6% during the forecast period 2022-2028. Increasing consumer attraction to specialized countertop surfaces such as engineered stone has been a major element driving the market. The steady rise in research and development activities in the household furniture industry has resulted in the developing of developed and integrated home and bathroom furniture, thereby encouraging the consumers to renovate their existing furniture.
A bathroom vanity is a cabinet in a bathroom, most often utilized to store hygiene products, toiletries, and occasionally also medications such that it functions as an improvised medicine cabinet. The bathroom vanity is usually placed under sinks or above toilets. Many mirror cabinets are connected with a lamp that lights the mirror (especially in small bathrooms). Bathroom vanity often has an integrated electrical socket or is placed close to one to use appliances like an electric shaver or hairdryer. Bathroom vanity has become much more technologically developed, with retailers showing features like Bluetooth audio, mood lighting, and anti-fog technology.
The key players operating in the bathroom vanities market are producing unique and new trending designs, which help make the interior more unique and attractive. The new generation and developed economy have raised the demand for bathroom vanities globally. There is a promotion in demand for this product due to the penetration of e-commerce platforms.
Fast urbanization in the developing regions has shown a rise in residential and commercial building construction activities. Moreover, an expansion in remodeling and renovation activities has provided the impetus for developing the bathroom vanities market. Changing lifestyles, rising expenditure power, and growing movements of smart homes with functional bathrooms are anticipated to drive the demand for bathroom vanities during the forecast period.
Online purchasing is increasingly preferred to traditional buying due to convenience and mass reach factors. The increasing internet penetration has allowed access to online platforms to many users. Various manufacturers of bathroom vanities have their online retailing media. They are also using third-party online media to achieve mass customers. With the expanding e-commerce industry, bathroom vanity products’ revenue is also growing as they have significant revenue sharing in e-commerce retailing. Thus, the growing e-commerce industry is pushing the revenue of the bathroom vanities market globally.
The bathroom vanities market value is stopped because of the birth of many factors posing challenges for the international market. There has been a movement that supports the unstable prices of raw materials might hamper the market growth that has been estimated for the forecast period.
After the covid-19 period, the bathroom vanities market trends indicate various reforms and regulations that governments have introduced in several countries to raise their infrastructure and real-estate industries, further leading to the growth of the construction industry’s need for bathroom vanities in the system. With the growing standard of living, the target consumers are inclined toward the large size of the market and trendy types of bathrooms, especially bathroom furniture, bathroom vanity lights, and bathroom vanity mirrors. Residentially, as a part of the market, they are constantly focusing on promoting their bathrooms by installing modern conveniences for aesthetic enhancement, causing the market growth as per the directions for the forecast period.
During the covid-19 period, the pandemic has hit the global market for bathroom vanity, and the current method of bathroom vanity is not stunning good. The construction and remodeling movements across the globe are on a break due to the safety reasons to save oneself from the ongoing pandemic. The consumer need for bathroom vanities has also declined. Along with this, producers also had to control the production activities because of a shortage of raw material, which is unknown due to import-export activities restrictions.
After the covid-19 period, the market players operating in this market are trying to bring new products and develop new strategies unique from their competitors to increase their market share. The furnishing leader globally, IKEA adopts the digital marketing approach to reach out to the consumer uniquely. Its core technique is to reach out to the retailers in the market and make outdoor movements that bring more value to product successiveness.
Based on materials, the global bathroom vanities market is segmented into Stone, Ceramic, Wood, Plastic and others. The glass utilized in the bathroom vanities products is tempered glass, frosted glass, laminated glass, and toughened glass. The wood used for bathroom vanities is solid, particleboard, MDF (medium-density fiberboard), and plywood. Wood also held the largest percentage of the bathroom vanities market. The growth in the wood material segment is primarily due to the degree of customization, and aesthetic view wood provides. Increasing demand for bathroom vanities manufactured by utilizing engineered materials such as recycled glass and quartz is expected to propel the market’s growth.
Based on application, the global bathroom vanities market is segmented into Commercial, Household/Residential and others. Residential applications occupied the largest share. It is mainly due to rising urbanization and industrialization. There is a growing demand for cabinets that offer value-added benefits, such as frameless wall-mounted vanities, space savers, and medical chests, as these deliver secure and attractive storage options. Growing demand for fitted components such as electrical strips that let using electrical appliances such as electric toothbrushes or curling irons also increases the market demand. There are raised consumer interest in luxury and premium features due to integrated LED fittings. Other inventions such as chromo lights, inbuilt sounds, and aroma diffuser machines increased demand. These are finding an advanced use in residential applications, thus, leading to the segment’s growth.
Based on region, the global bathroom vanities market is segmented into North America, Europe, Asia-Pacific, South America and The Middle East & Africa. Europe held the largest gain share of the global bathroom vanities market. The market in Europe is primarily driven by the increasing construction activities in the region. There is an increased use of bathroom vanities in the residential sector. There is also a growing inclination toward functional and aesthetically attractive bathroom amenities among the consumers in the region. All these elements are making the demand for bathroom vanities in the region. Critical players in the bathroom vanities market in Europe and the introduction of several product lines have also impeded the market’s growth.
The companies include Masco Corporation, Master Brand Cabinets Inc., American Wood Mark Corporation, DuPont and Foremost Group, Inc., Alya Bath, Silkroad Exclusive, Imperial Marble, Virtu USA, Bath Sense, James Martin Furniture and other prominent players in the global bathroom vanities market.
Key Stakeholders
Report Attribute | Details |
---|---|
Revenue in 2021 | USD 36,047.21 Million |
The revenue forecast in 2028 | USD 46,038.15 Million |
Growth rate | CAGR of 3.6 % from 2022 to 2028. |
Historical data | 2017 – 2020 |
Base Year | 2021 |
Forecast period | 2022 – 2028 |
Region covered | North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
Key companies Profiled | The companies Masco Corporation, Master Brand Cabinets Inc., American Wood Mark Corporation, DuPont and Foremost Group, Inc., Alya Bath, Silkroad Exclusive, Imperial Marble, Virtu USA, Bath Sense, James Martin Furniture, are the key players. |
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A bathroom vanity is a cabinet in a bathroom, most often utilized to store hygiene products, toiletries, and occasionally also medications such that it functions as an improvised medicine cabinet. The bathroom vanity is usually placed under sinks or above toilets.
The global bathroom vanities were valued at USD 36,047.21 Million in 2021, and it is expected to reach USD 46,038.15 Million by 2028 with growth at a CAGR of 3.6% during the forecast period 2022-2028.
Fast urbanization in the developing regions has shown a rise in residential and commercial building construction activities. Moreover, an expansion in remodeling and renovation activities has provided the impetus for developing the bathroom vanities market.
The companies Masco Corporation, Master Brand Cabinets Inc., American Wood Mark Corporation, DuPont and Foremost Group, Inc., Alya Bath, Silkroad Exclusive, Imperial Marble, Virtu USA, Bath Sense, James Martin Furniture, are the key players in the global bathroom vanities market.
The bathroom vanities market value is stopped because of the birth of many factors posing challenges for the international market. There has been a movement that supports the unstable prices of raw materials might hamper the market growth that has been estimated for the forecast period.
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