Bath Furnishing Market Size, Share, Global Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Bath Furnishing Market


The global Bath Furnishing market size is projected to reach US$ 49.01 billion by 2026, from US$ 40.34 billion in 2020, at a CAGR of 3.3% during 2021-2026. The market is driven by growth of the hospitality and tourism sectors and rising demand for hygienic bathroom products across these industries. Moreover, demand for different products such as mirrors, cabinets, and shower heads of bathroom, along with growth of the construction industry is anticipated to boost the demand for the product over the forecast period.

The product demand is high among the middle class population due to affordability of different products by consumers. Consumers tend to make high investment in the toiletries encasing classy products in the sector. Moreover, inclination towards different decorative items such as curtains, lamps, and mats helps to provide a growth opportunity for the segment. An increase in the middle class population opens up new avenues for implementing new and trendy products adopted by the higher class population.

The above-mentioned factors, along with an increase in disposable income, are anticipated to boost the market growth over the forecast period. Rise in awareness about health and hygiene among consumers has initiated the demand for bathroom products and accessories in the market. Growth of the sector is analyzed by use of innovative bathroom products by consumers such as faucets and cabinets in market.

The industry growth is also attributed to booming tourism sector in the developing countries such as China and India. China and India are expected to account for a major share in the wellness and tourism sector over the forecast period. These countries also tend to witness tremendous growth in the construction segment, thereby boosting the growth of the bathroom segment over the forecast period. Innovative and attractive products such as faucets, shower heads, decorative mirrors, and carpets have initiated growth of the bath furnishing market.

Product innovations by the manufacturers in different segments such as furniture, fittings, and decorative accessories are also driving the market. For instance, in January 2019, Kohler Inc. announced the launch of decorative mirrors for the bathroom segment, along with smart technology, for voice control, music, and lighting systems. Moreover, evolving buying patterns among consumers for different bathroom products have surged the market growth. Consumers are aware of benefits of different products through advertisements and promotional activities by the leading manufacturers. This also helps to drive the demand for premium products among the consumers.

Market Segmentation, Outlook & Viewpoint: Global Bath Furnishing Market

Product Market Segmentation & Outlook (Revenue, USD Billion, 2014 - 2025)

  
Furniture
  
Fittings
  
Others

Distribution Channel Market Segmentation & Outlook (Revenue, USD Billion, 2014 - 2025)

  
Online
  
Offline

Key Players, Recent Developments & Regional Insights: Global Bath Furnishing Market

The furniture segment accounted for the largest share of 72.9% in 2018. Growing brand awareness and increase in sales of furniture products among millennials are influencing the demand for bathroom accessories. Moreover, availability of furniture products through online channels in various regions is driving the sales of domestic furniture products. Key players have come up with various offers on their products, along with decorative and DIY furniture products, due to significant demand for attractive items among the younger generation. The above-mentioned factors make the products quite affordable for consumers, thereby initiating the market growth. Increasing interest among consumers in furniture products for decorative purposes is further influencing the sales of furniture across the globe.

The others segment including decorative mirrors and carpets is expected to expand at the fastest CAGR of 5.2% from 2019 to 2025. Rising demand for decorative products in bathrooms due to rise in class of population is anticipated to boost the segment growth. Increasing number of health conscious consumers and inclination towards usage of bathroom accessories. These products are available in smart equipment such as voice, music, and lighting systems in market. Moreover, availability of various products such as type of mirrors and carpets, along with rise in the regional demand for premium products, is likely to drive the segment over forecast period.

Distribution Channel Insights

The offline channel accounted for the largest share of 87.4% in the year 2018. Offline sales are driven by consumers who prefer to access products from the stores to check quality and exact size and dimension as compatible to their bathrooms. Moreover, a wide range of products through stores, along with availability of certain brands and effective pricing, is anticipated to boost the demand over forecast period.

Ease of access to different products, variation in pricing, along with brand comparison, provides growth opportunity for the market. Increase in the number of furniture stores, DIY shops, and specialty stores has contributed significantly to the offline sales of products in market. Moreover, quality assurance for online orders boosts the growth of the offline channel for quick baking services needed for consumers.

The online segment is the fastest growing channel with a CAGR of 4.4% over the forecast period. The market is driven by increasing number of e-commerce websites such as IKEA, Etsy, Wayfair, Pepperfry, and Magnolia, offering a wide range of bathroom furnishing products and accessories to consumers. The market seems to drive its accessibility through door to door delivery services preferable by consumers in market. The market is also driven by ease in handling and labor work offered in online sales of products in market. Deals, offers, and discounted items offered through the online sector is likely to drive the segment over the forecast period.

Regional Insights

In terms of value, North America held the largest share of 36.4% in 2018. The market is driven by rise in demand for home improvement products in U.S., along with different types of furniture such as vanity cabinets, storage units, mirror cabinets, and shelving products. Moreover, rise in expenditure on home renovations in U.S. is anticipated to boost the growth for the bathroom products over forecast period. Remodeling projects in U.S. are anticipated to increase over the forecast period. Moreover, rise in home construction, along with renovation, will boost the market growth in the next few years.

Asia Pacific is expected to expand at the highest CAGR of 4.1% over the forecast period, on account of increasing number of construction projects in countries such as India and China. Demand is anticipated to increase due to rise in modernization and changing lifestyle of the consumers, thereby driving the demand for bathroom accessories in the market. Moreover, market is likely to witness significant growth due to incorporation of interior designing techniques by consumers in the industry.

Bath Furnishing Market Share Insights

Rising demand for the bathroom products in China, India, and Japan due to growth of the construction and wellness industries leads to an increase in product innovations and market developments, thereby fueling its demand in the market. The market is identified by several strategic activities such as mergers and acquisitions, product innovations, and capacity expansion. Key manufacturers in the industry include Toto Ltd.; Kohler Co.; GROHE AMERICA, INC.; Ideal Standard International; Hansgrohe; Moen Incorporated; Roca Sanitario, S.A.; and Villeroy & Boch Group. The growth of the market is also attributed to emergence of decorative and premium products in the market.

Key Insights Covered: Global Bath Furnishing Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Bath Furnishing industry.
2. Global major manufacturers" operating situation (sales, revenue, growth rate and gross margin) of Bath Furnishing industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Bath Furnishing industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Bath Furnishing industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Bath Furnishing industry.

Research Methodology: Global Bath Furnishing Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other