Report Details:
15 Companies Covered
128 Pages
Market Research Future (MRFR) has published a cooked research report on the “Global Bathroom Accessories Market” that contains information from 2018 to 2032. The bathroom accessories market is estimated to register a CAGR of 10.50% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global bathroom accessories market — American Standard, ASI American Specialties, Inc., Villeroy & Boch AG, Gerber Plumbing Fixtures LLC, GROHE Pacific Pte Ltd, Hansgrohe, LIXIL Corporation, Moen Incorporated, Monarch Bath Pvt. Ltd., and Toto Ltd.
Bathroom Accessories Market Highlights
The global bathroom accessories market is accounted to register a CAGR of 10.50% during the forecast period and is estimated to reach USD 43.7 billion by 2032.
The global emphasis on home improvement and interior design trends propels the demand for innovative and stylish bathroom accessories, fueling market expansion. Furthermore, the increasing awareness of bathrooms as personalized sanctuaries promotes the adoption of functional and aesthetically pleasing accessories. Additionally, the booming real estate industry and a surge in construction projects worldwide create a heightened demand for bathroom enhancements, further driving market growth.
Segment Analysis
The global bathroom accessories market has been segmented based on product, application, and distribution channel.
On the basis of product, the market is segmented into towel rack/ring, hook, paper holder, toothbrush holder, grab bars, shower curtains, and others. The towel rack/ring segment was attributed to holding the largest market share in 2022. A growing emphasis on bathroom design and development in real estate developments propels category growth in developing nations.
Based on application, the global bathroom accessories market has been segmented into residential and commercial. The residential segment was expected to hold the largest market share in 2022. Homeowners are more inclined to upgrade their bathrooms with chic and useful furnishings as they have a strong desire to customise their living areas. In addition, the market for high-end bathroom accessories is driven by the rising recognition of the house as a haven for leisure and well-being.
Based on distribution channel, the global bathroom accessories market has been segmented into online, and offline. The offline segment was expected to hold the largest market share in 2022. The ability to ask questions, get advice, and handle issues in real-time, together with the chance to physically contact with objects, can improve the buying experience and increase sales. It also creates a tactile and immersive shopping environment.
Regional Analysis
The global bathroom accessories market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe bathroom accessories market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The bathroom accessories market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World bathroom accessories market comprises of Middle East, Africa, and Latin America.
The largest market share for bathroom accessories was maintained by the North American regional sector due to a surge in urbanization, coupled with a strong culture of homeownership. Increasing consumer awareness of eco-friendly products propels demand for sustainable bathroom accessories, fostering market expansion. Moreover, a robust e-commerce infrastructure in the region provides consumers with convenient access to a diverse range of products, contributing to the anticipated increase in sales.
Moreover, the Europe market has been persistently growing over the forecast period. A cultural inclination toward sophisticated interior design fuels demand for high-quality, aesthetically pleasing accessories. Additionally, stringent regulations promoting water conservation drive consumers toward innovative and water-efficient bathroom fixtures, boosting sales. Europe's dynamic and design-conscious consumer base, combined with a growing preference for online shopping, further fuels the anticipated surge in bathroom accessories sales.
Additionally, in the Asia Pacific, burgeoning middle-class populations and rapid urbanization fuel a surge in residential construction, driving the demand for modern and innovative bathroom accessories. The region's cultural inclination towards wellness promotes sales of spa-like fixtures and wellness-centric accessories. Furthermore, a rising awareness of smart home solutions among consumers contributes to the increased adoption of technologically advanced bathroom accessories, fostering market growth in the Asia Pacific.
Furthermore, the Rest of the World anticipates an uptick in bathroom accessories sales owing to the expansion of hospitality and tourism industries. As regions in Africa and South America witness increased infrastructural development, the demand for commercial bathroom accessories experiences a notable rise. Additionally, the diverse cultural preferences in these regions stimulate unique designs and materials, creating a niche market for exclusive and culturally inspired bathroom accessories, further driving sales.
Key Findings of the Study
- The global bathroom accessories market is expected to reach USD 43.7 billion by 2032, at a CAGR of 10.50% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market due to its rapid urbanization, surging population, and increasing disposable incomes.
- Based on product, the towel rack/ring segment was attributed to holding the largest market in 2022, with an approximate market share of 35%–40%.
- American Standard, ASI American Specialties, Inc., Villeroy & Boch AG, Gerber Plumbing Fixtures LLC, GROHE Pacific Pte Ltd, Hansgrohe, LIXIL Corporation, Moen Incorporated, Monarch Bath Pvt. Ltd., and Toto Ltd.