Bathroom Vanities Market Research Report - Global Forecast 2030

Bathroom Vanities Market Information: by Material (Glass, Ceramic, Stone and Wood), by Application (Residential and Non-Residential) and by Region (North America, Europe, Asia-Pacific and the Rest of the World) - Forecast till 2030

ID: MRFR/CO/6788-HCR | November 2022 | Region: Global | 107 Pages         

Bathroom Vanities Market

The Bathroom Vanities Market is expected to witness a ~5.6% CAGR during the forecast period. The bathroom vanities market size is expected to be valued at ~USD 13.1 billion by the end of the forecast period (2020-2027)

Segmentation

Material Glass Ceramic Stone Wood
Application Residential Non-Residential
Region North America Europe Asia-Pacific

Key Players

  • Wilsonart LLC. (US)
  • Eczacibasi Holding A.S.(Turkey)
  • Virtu USA (US)
  • Cabinetsmith (Canada)
  • MasterBrand Cabinets Inc. (US)
  • Hangzhou Fame Industry CO. Ltd. (China)
  • Empire Industries Inc. (US)
  • Utopia Furniture Ltd (UK)
  • Masco Corporation (US)
  • STRASSER WOODENWORKS (US)
  • American Woodmark Corporation (US)
  • Foremost Groups Inc. (US)

Drivers

  • The demand for bathroom vanities is expected to be driven by the rising hygiene consciousness and growing preference for the use of modern bathroom vanities.
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Market Overview


The Bathroom Vanities Market is expected to witness a ~5.6% CAGR during the forecast period. The bathroom vanities market size is expected to be valued at ~USD 13.1 billion by the end of the forecast period.


In the recent past, especially during the historic forecast period that had ended in 2020, there has been a notable surge in bathroom remodeling expenditure across the globe mainly due to the steady inflow of evolved designs in bathroom fitments and fixtures. These steady expenditures are expected to outpace other housing improvement expenditures over the forecast period that will be ending in 2030. The market trend also suggests that there is an expectation regarding the emergence of the market as a key driving factor in the market over the forecast period.


COVID 19 Analysis


The novel coronavirus pandemic outbreak is one of the major concerns that is barring the global market from growing in the current forecast period that will be ending in 2030. Due to the arrival of the pandemic, the global bathroom vanities market has been witnessing the emergence of major issues and one of them is the disrupted supply and demand chain mechanism because of the disruption in the availability of raw materials and market resources. Temporary and permanent lockdown is being considered as one of the result-oriented efforts that are showing good signs by bringing down the positivity rate of the infection spread and also helping to bring down the number of positive cases.


Hence, the global governments are understanding the rising need of the market to return to normalcy and further, revive the market operations that will be possible by a proper mechanism of product demand and supply and the mechanism. Also, the rising funding and investment in the research and development departments will help to play an excellent role in adding innovation and creativity to the available market products and hence, launch them on an international scale for a large target audience.


Competitive Landscape


The bathroom vanities market value has been increasing because of the excellent performance that has been recorded by the understated market companies in the global market premises:



  • Wilsonart LLC. (US)

  • Eczacibasi Holding A.S.(Turkey)

  • Virtu USA (US)

  • Cabinetsmith (Canada)

  • MasterBrand Cabinets Inc. (US)

  • Hangzhou Fame Industry CO. Ltd. (China)

  • Empire Industries Inc. (US)

  • Utopia Furniture Ltd (UK)

  • Masco Corporation (US)

  • STRASSER WOODENWORKS (US)

  • American Woodmark Corporation (US)

  • Foremost Groups, Inc. (US).

  • Water Creation, Inc. (US)

  • JSG OCEANA (US)

  • Kohler Co. (US)

  • DuPont de Nemours, Inc. (US)


Market Dynamics


Drivers


The global bathroom vanities market has been witnessing substantial market growth in the past couple of years, as a part of the forecast period that had ended in 2019. The demand for bathroom vanities is expected to be driven by the rising hygiene consciousness and growing preference for the use of modern bathroom vanities. There has been a growth in the number of housing projects across the globe that will increase the demand for bathroom vanities, which form one of the most important residential aspects. The global bathroom vanities market is home to factors like the increased expenditure on the remodeling and retrofitting of existing bathrooms globally. Also, the market trends are expected to lead to market growth positively. Due to the growing urbanization, there has been a huge growth in the demand for new residential construction projects is also growing, which is fueling the global market demand for bathroom vanities around the world. Therefore, the residential market application has the highest contribution in the market due to the rising per capita income.


Restraints


However, the bathroom vanities market value is at stake because of the birth of many factors that are posing challenges for the international market. There has been a trend that supports the fluctuating prices of raw materials might hamper the market growth that has been projected for the forecast period that will be ending in 2030. The rising consumer demand for eco-friendly materials for bathroom vanities is likely to emerge as an opportunity for the market players during the forecast period that will be ending in 2030.


Technology Analysis


Moreover, the bathroom vanities market trends suggest that there has been a birth of various reforms and regulations that have been introduced by governments in several countries to raise their infrastructure and real-estate industries, which further, leads to the growth of the construction industry and further, raise the demand for bathroom vanities in the structure. With the improving standard of living, the target consumers are being inclined towards the large size of the market and modern style of bathrooms, mainly for bathroom furniture, bathroom vanity lights, and bathroom vanity mirrors. Homeowners, as a part of the market, are continuously focusing on the upgrade of their bathrooms by installing modern amenities for aesthetic enhancement, driving the market growth as per the trends for the forecast period of 2022-2030.


Segment Overview


The global bathroom vanities market has been segmented into a series of market segments. The global market has been segmented based on material and application.


Based on the market material


The global bathroom vanities market has been classified into glass, ceramic, stone, wood, and others like metal. The wood segment had accounted for the largest market share in the global market during the period owing to its properties such as durability and ease of recyclability.


Based on the market application


The global bathroom vanities market has been segmented based on the market applications and includes the residential and non-residential segments.


Regional Analysis


Based on the global segmentation of the global bathroom vanities market share, the global market is functional in regions like North America, Europe, Asia-Pacific, and the rest of the world. The Asian Pacific region is likely to have dominated the global market, followed by North America for bathroom vanities. Emerging countries in the APAC region such as China and India have recently seen significant growth in the bathroom vanities market, due to the rising economy and rapid growth in industrialization during the forecast period that ends in 2030.


Recent Developments



  • Increasing demand for new residential construction projects in urban areas renders support to the rising migration to the cities and the swelling global population has also, reduced the potential area to be allocated for bathrooms in each housing unit in several regions.

  • The world in the present market scenario is constantly moving towards online sales when it comes to shopping and buying for everyday consumer goods as well as household appliances. The brick and mortar retail sector, as a part of the bathroom vanities market, are in a constant battle to retain its customer base. Although 94% of the sales still take place through this functional sector, the online sales industry is further, experiencing tremendous growth, resulting in intense competition between the direct retailers and e-commerce companies, eventually benefiting the consumers.

  • There has been a rapid rise in the popularity of the e-commerce retailing of vanities has also helped the bathroom vanities market growth to proliferate. Apart from making several product lines available, some of the e-commerce retail websites have also started offering simulations to help the target consumers redesign their bathrooms with suitable vanity products. The E-commerce website for the retailing of vanities is becoming an increasingly popular mode of purchasing by allowing customers easy access to the latest products and proper information, thereby positively influencing the market growth shortly, as a part of the forecast period that will be ending in 2030.


Intended Audience



  • Bathroom vanities wholesalers and manufacturers

  • Bathroom vanities traders, distributors, dealers, and suppliers

  • Manufacturers and suppliers of raw materials

  • Architects & engineers

  • Public sector

  • Development firms

  • Regulatory bodies

  • Research organizations

  • Association and industry bodies

  • Interior designers

  • End consumers

  • Market research and consulting firms


Report Overview


The bathroom vanities market report has been prepared to understand various kinds of market aspects that will have a positive impact on the market growth during the forecast period of 2022-2030. The global market report highlights the potential performance of the market segments and the recent developments that have been undertaken during the period.



Report Scope:

Report Attribute/Metric Details
  Market Size

  • 2027: USD 13.1 Billion
  • 2030 : Significant value
  •   CAGR   5.6% CAGR (2022-2030)
      Base Year   2021
      Forecast Period    2022 to 2030
      Historical Data   2019 & 2020
      Forecast Units   Value (USD Billion)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   by Technology, by Application, by Material
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   Wilsonart LLC. (US), Virtu USA (US), MasterBrand Cabinets Inc. (US), Empire Industries Inc. (US), Masco Corporation (US), American Woodmark Corporation (US), Water Creation, Inc. (US), Kohler Co. (US), JSG OCEANA (US), and Foremost Groups, Inc. (US).
      Key Market Opportunities

  • Rapid urbanization
  • Unprecedented growth in the construction sector
  • Increase in focus on innovation in green construction materials
  •   Key Market Drivers

  • Rising hygiene consciousness
  • Growing preference for modern bathroom vanities


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    Frequently Asked Questions (FAQ) :

    Bathroom vanities market is projected to grow at a 5.6% CAGR between 2022-2030.

    Bathroom vanities market is predicted to touch USD 13.1 billion by 2030.

    The APAC region is expected to dominate the bathroom vanities market.

    The wood segment will lead the bathroom vanities market.

    Fluctuating raw material prices may limit the bathroom vanities market growth.