The increasingly changing lifestyle and the demand for luxurious products in the residential sector to spur growth in Global Bathroom Accessories Market
Covid-19 Impact & Market Status
The report offers an exhaustive overview of the business dynamics and new investment strategies that are being adopted by business leaders across countries and regions to overcome the acute challenges and financial instabilities that have emerged in the post pandemic times.
The report highlights some of the best industry strategies and practices that are adopted by the players across local and global markets. Ever since the Covid-19 broke out in 2019, it has spread aggressively, resulting in rapid declaration by the WHO affirming Covid-19 as a global pandemic and an emergency.
The impact of the pandemic is widespread and the aftermath is well pronounced, gravely affecting the global bathroom accessories market. The sudden pandemic and its implications have posed significant challenges such as travel bans, quarantines, and lockdowns.
These developments are hampering operations resulting in supply chain breaches, stock market inefficiencies, and vendor chaos. These are constantly interfering with the normal functioning of industries.
Ever since the outbreak of the global crisis, impact on upstream, downstream, and midstream industries have been appalling. The report delivers a quick ready-to-deploy approach to counter such crisis and steer the global bathroom accessories market towards steady growth and systematic progression.
Amidst the pandemic, aligning with new dynamics, global bathroom accessories market has been witnessing new dynamics which are further necessitating new business models and approaches to recoup growth and revenue streams.
In this report, inquisitive business players would be provided with sufficient guidelines regarding business transformation, integral to sustain stiffening competition in the pandemic and beyond pandemic era global bathroom accessories market.
Global Bathroom Accessories Market for Residential to Sustain the Highest Revenues
Owing to the immense potential of the global bathroom accessories market backed by luxurious products and features such as built-in sensors and water-saving technology, bathroom accessories are being highly demanded in the residential market. Besides the Residential market, bathroom accessories are used in the hospitality sector and by governments in ensuring public sanitation.
Growing need for sanitation and providing quality restrooms to the people, both the hospitality companies and governments are demanding bathroom accessories. The drive to go eco-friendly is increasing the growth in the global bathroom accessories market. The governments are going the extra mile to spread awareness to stop open defecation and use washrooms for the same, especially in villages.
Towel Rack to Sweep the Largest Revenue Streams Followed by Paper Holder
The towel rack/ring product is a bathroom accessory used to hang towels. The demand for Towel Rack is highest in the hospitality market and the revenue for the same is expected to increase to more than $9 billion by the end of 2025. There have been various innovations in the product with companies aiming to provide a better product than their competitors, increasing the product design and quality. The demand for paper holders is increasing at a high rate, expected to grow at a CAGR of 10.1%. These are mainly demanded in the hospitality sector, hospitals and the residential sector.
APAC to Sweep the Largest Revenue Streams Followed by North America
Asia Pacific region is a lucrative regional market for the global bathroom accessories market as countries such as China and India have a positive outlook towards the construction in the residential sector. Several frontline companies are established in China and therefore the region is one of the leading regional markets for global bathroom accessories market.
Further, end-use applications such as the hospitality industry. This is the reason of the surging demand in North America and the Middle East & Africa with countries like Dubai, Qatar and Abu Dhabi. Extensive development in the residential and hospitality sector is helping increase the demand of bathroom accessories in the global market.
The emergence of technological innovations in the global bathroom accessories market like Internet-of-things and built-in sensors to propel growth in the market
Bathroom fittings, also known as sanitary fittings, are accessories or items that are fitted primarily in the bathroom. The accessories vary vastly ranging from faucets and showers to bathtubs, shower enclosures, and toilet seats. The demand is rising hugely in the residential market as the lifestyle of the people becomes more luxurious.
Despite a minor growth dip owing to Covid-19 implications, the global bathroom accessories market is expected to recoup growth and register over USD 35.5 billion by 2028 ticking at a CAGR of 7.8%.
The global bathroom accessories market is growing at a rapid rate mainly due to the various technological advancements in the sector. Owing to urbanization and globalization, the global bathroom accessories market has taken huge strides like taps with in-built sensors, automatic flush in toilet seats and urinals, smart showers/mixers, sensor soap dispensers, et cetera. These accessories are operated via Internet-of-Things (IoT)-based devices, thus another step towards a smart home.
The bathroom accessories are also up to mark in the environmental aspect. They focus on saving water and reducing wastage, thereby targeting the depleting groundwater levels and gaining an edge over their competitors. This is being achieved by designing taps in such a way that they stop automatically once the user is done washing their hand.
Backed by economic growth and the growing consumer awareness about sanitation is leading the future path for the global bathroom accessories market. Various governments worldwide are expanding heavily to increase the number of public toilets and improve the condition of the current ones. This has specifically increased after the spread of the novel coronavirus in December 2019, with people becoming more conscious of sanitation and sanitization.
Application of global bathroom accessories market is not limited to mostly bathrooms but also extends to kitchen. Modern technologically developed taps offer superior quality and also focus on saving water. The global bathroom accessories market is also being steered by the tourism industry which is becoming increasingly focused on the quality of rooms and bathrooms they provide. As the tourism industry is growing worldwide, the demand for global bathroom accessories is also increasing.
The major players of the global Bathroom Accessories Market are Bradley Corp., LIXIL Group Corp., Kohler Co., Jaquar Group, Duravit AG, Masco Corp., Hansgrohe Group, Gerber Plumbing Fixtures, LLC, Roca Sanitario, Bolina Holding Co. Ltd., Monach Bath Pvt. Ltd. and others.
The bathroom accessories market is a rapidly progressing industry and is characterized to have industrial frontliners as well as aspiring new players aiming to penetrate into the aggressive competitive landscape across global and local markets. Additionally, various new and aspiring players are improving their product lines and upgrading technological capabilities to improve revenue streams amidst Covid-19 impact.
Latest Innovations in the Global Bathroom Accessories Market: A Snapshot
- In December 2021, Kohler announced a collaboration with Daniel Arsham to design a one-of-a-kind sink that it’ll sell 99. The limited-edition 3D-printed Rock.01 sink is built with modern technology, combined with New York artist Daniel Arsham’s artistic creativity.
- In September 2021, VitrA, a Turkish company, after collaborating with designer Tom Dixon, launched a new innovative collection of bathroom products named Liquid. Liquid captivates the viewer with its beautiful design and smooth and long-lasting products.
Bathroom Accessories Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 35.5 billion|
|Growth Rate||CAGR of 7.8% during 2021-2028|
|Segment Covered||Type, Application, End-User, Region|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Bradley Corp., LIXIL Group Corp., Kohler Co., Jaquar Group, Duravit AG, Masco Corp., Hansgrohe Group, Gerber Plumbing Fixtures, LLC, Roca Sanitario, Bolina Holding Co. Ltd., Monach Bath Pvt. Ltd. and others.|
Key Segments of the Global Bathroom Accessories Market
Type Overview, 2018-2028 (USD Billion)
- Towel Rack
- Bath Tubs
- Shower Enclosures
End-User Overview, 2018-2028 (USD Billion)
Application Overview, 2018-2028 (USD Billion)
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa