Bathroom Vanities Market Size was valued at USD 8.02 billion in 2021. The Bathroom Vanities industry is projected to grow from USD 8.47 Billion in 2022 to USD 13.1 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.6 % during the forecast period (2024 - 2030). The demand for bathroom vanities is being driven by the expanding leisure and hospitality industries.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Bathroom Vanities are an essential component of every house, and users may improve the appearance and functionality of their bathrooms by selecting the ideal size, design and material. Bathroom vanities also have the advantage of simplifying overall bathroom area. The demand for bathroom vanities is estimated to grow in developed countries due to rising home rates the modernization and remodeling of current bathrooms is established and developing nations is anticipated to boost revenue growth. Additionally, rising income levels, particularly in developing nations, and various real estate industry promotional initiatives are anticipated to fuel demand for bathroom vanities. The desires for eco-friendly items like engineered stone and recycled glass is expanding, which is driving up the price of traditional bathroom vanities. The need for modern features like specialized counters with sinks among consumers is driving up the price of bathroom vanities. Modern features such as glass with LED backlighting and laminates made of high-pressure plastic are currently preferred by customers.
The usage of bathroom vanities is increasing as people's interest in home improvements and décor grows. Sales of bathroom vanities have marginally increased recently, and experts anticipate that trend to continue as long as people continue to spend money on home furnishings. In cities, about 55% of the world's population resided in 2018; by the end of 2030, this percentage is anticipated to reach 68%. For the residential and hospitality sectors, this movement presents prospective prospects for real estate, hotels and restaurants, hospitals and clinics, and other institutions that need various sorts of furniture, including bathroom vanities. Crafted from reclaimed steel and salvaged wood, our industrial bathroom vanities offer a distinctive blend of rugged durability and rustic elegance
However, to cater to the demand there have been significant advances in the construction industry. For instance, the demand for Bathroom Vanities in the construction industry is likely to boost the growth of the market and drive the growth of the Bathroom Vanities market revenue.
The Bathroom Vanities market segmentation, based on application, includes residential and non-residential. The residential Bathroom Vanities segment held the majority share in 2021 contributing to around ~75% with respect to the Bathroom Vanities market revenue. In order to keep a bathroom clutter-free, the use of a bathroom cabinet is valuable. Cabinets with mirror front and compartments to keep toiletries and other things organized are preferred at most residential places predicting substantial growth over the forecasted period. Bathroom vanities with smart technologies such as aroma diffuser machines, chromo lights, and inbuilt sounds are well received by consumers staying at hotel/resort and many others across the globe. Such technological advancements are expected to bolster market growth in the upcoming years
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Additionally, in comparison to non-residential application, the residential Bathroom Vanities segment is more useful for various end-use industries.
October 2022: Wilsonart announced that it will expand the distribution of its THINSCAPE Performance Tops collection. The engineered surfaces collection includes ten nature-inspired designs in ultra-thin countertops that are highly durable and ideal for kitchens, bath vanities, and laundry room worktops. The expansion follows rising demand for the new European-style, ultra-thin countertops.
The Bathroom Vanities market segmentation, based on material, includes stone, ceramic, glass, wood, metal. The wood segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. According to Houzz Inc. in 2022, 30% of those who have recently renovated are preferring wood bathroom vanities, especially those with a matte finish. It can be relatively neutral while adding a touch of warmth and comfort to the room. Thus, the rise in the construction of vanities is also anticipated to drive market growth.
July 2022: Wilsonart launched its new offerings across the Wilsonart HPL Commercial Collection and the Wilsonart Traceless Laminate Collection. Wilsonart’s latest designs highlight the material mixology trend which effortlessly blends new sophisticated textures and ultra-matte surfaces to create authentic spaces using materials engineered to outperform veneers, metals, and more. This approval has further broadened the growth opportunity for the Bathroom Vanities industry.
The Bathroom Vanities market segmentation, based on size, includes 24-35 inch, 38-47 inch, 48-60 inch. The 37-48-inch segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. The segment is primarily driven by good storage capacity and the ability to fit effectively in small bathroom areas. Medium-sized vanities are designed to be compact so that they do not take up the entire bathroom area and instead distinguish themselves when it comes to the aesthetic value of the room.
By Region, the study segments the market into North America, Europe, Asia-Pacific, and the Rest of the World. North America comprises potential economies such as the US, Canada, and Mexico. The growth is attributed to a rise in housing completion rates in the region, which is likely to remain a key driving factor in the market over the forecast period. The large funds spent on remodeling and retrofitting of existing bathrooms in the region are also expected to boost the demand for bathroom vanities over the forecast period.
Further, the major countries studied are US., Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe Bathroom Vanities market accounts for the second-largest market share due to increasing constructional activities. Bathroom vanities are widely used in the residential sector. Additionally, customers in the region are showing an increasing preference for bathroom amenities that are both functional and attractive. Also, the presence of developed countries in the region promotes the sale of premium and luxury vanities, leading to higher consumer consumption. Major corporations' participation in the European bathroom vanity industry, together with the creation of several product lines, has further driven market growth in terms of revenue. Further, the Germany Bathroom Vanities market held the largest market share, and the UK Bathroom Vanities market was the fastest-growing market in the European region.
The Asia-Pacific Bathroom Vanities Market is expected to grow at a CAGR of 23.10 % from 2022 to 2030. The Asia-Pacific region is expected to have the largest Bathroom Vanities market share. The increasing population and improved standard of living have spurred the growth prospects of the construction sector in the region in the past few years. Growing disposable income has triggered the overall retail market in the region. Moreover, China Bathroom Vanities market held the largest market share, and the India Bathroom Vanities market was the fastest-growing market in the Asia-Pacific region.
For instance, India Bathroom Vanities market has increased the demand for the construction industry in the region.
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Bathroom Vanities market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Bathroom Vanities industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
One of the primary business strategies adopted by manufacturers in the Bathroom Vanities industry to benefit clients and expand the Bathroom Vanities market sector is to manufacture locally to reduce operating costs. In recent years, Bathroom Vanities have provided medicine with some of the most significant benefits.
Wilsonart is a manufacturer and distributor of high-pressure laminates and other engineered composite materials, used in furniture, office and retail space, countertops, worktops, and other applications. In October 2022, Wilsonart announced that it will expand the distribution of its THINSCAPE Performance Tops collection. The engineered surfaces collection includes ten nature-inspired designs in ultra-thin countertops that are highly durable and ideal for kitchens, bath vanities, and laundry room worktops. The expansion follows rising demand for the new European-style, ultra-thin countertops.
In July 2022, Wilsonart launched its new offerings across the Wilsonart HPL Commercial Collection and the Wilsonart Traceless Laminate Collection. Wilsonart’s latest designs highlight the material mixology trend which effortlessly blends new sophisticated textures and ultra-matte surfaces to create authentic spaces using materials engineered to outperform veneers, metals, and more. This approval has further broadened the growth opportunity for the Bathroom Vanities industry.
November 2022: Utopia expands 20mm solid surface worktops. These new decors include three on-trend veined marble effects, namely, imperial white, palladian grey, and tempest black, plus metropolitan grey, a granite effect worktop.
July 2022: Utopia introduced three stunning sit-on basins. Offers to give consumers more choice in terms of shape, color and finish.
| Report Attribute/Metric | Details |
| Market Size 2021 | USD 8.02 billion |
| Market Size 2022 | USD 8.47 billion |
| Market Size 2030 | USD 13.1 billion |
| Compound Annual Growth Rate (CAGR) | 5.6% (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2024-2030 |
| Historical Data | 2018 & 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Application, Material, Size, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | American woodmark corporation (US), Wilsonart LLC. (US), Virtu USA (US), Hangzhou Fame Industry CO. Ltd. (China), Utopia Furniture Ltd. (UK) Caninetsmith (Canada), and Foremost Groups Inc. (US) |
| Key Market Opportunities | Due to the growing urbanization, there has been a huge growth in the demand for new residential construction projects is also growing |
| Key Market Dynamics | The demand for bathroom vanities is being driven by the expanding leisure and hospitality industries. High initial cost of raw materials |
Bathroom Vanities Market Highlights:
Frequently Asked Questions (FAQ) :
USD 8.02 billion in 2021. The Bathroom Vanities market industry is projected to grow from USD 8.47 Billion in 2022 to USD 13.1 billion by 2030
2024-2030
5.6%
Asia-Pacific
American woodmark corporation (US), Wilsonart LLC. (US), Virtu USA (US), Hangzhou Fame Industry CO. Ltd. (China), Utopia Furniture Ltd. (UK) Caninetsmith (Canada), and Foremost Groups Inc. (US)
Wood
Residential
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Senior Research Analyst I have a bachelor's degree in mechanical engineering and an mba. i have more than two years of expertise in the retail, food, and beverage, chemical, and material industries, and hence have developed a sound cross-domain expertise. a firm believer in lifelong learning and sharing of knowledge. having a proclivity for hatching ideas and trying to absorb as much information as possible in a short amount of time. introducing corporates to the data and insight, which enables them to move from probability to possibility, has been my key areas of interest.
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