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[Research Report] The bathroom vanities market is projected to reach US$ 46,038.15 million by 2028 from US$ 36,047.21 million in 2021; it is expected to grow at a CAGR of 3.6% from 2021 to 2028.
The bathroom vanity is a combination of a restroom sink or bowl and various stockpiles around it. It combines a sink, countertop, and built-in shelves. These restroom vanities are typically made of wood, stone, ceramics, glass, or metal and are usually waterproof in nature. Bathroom vanities are an essential component of homes and help enhance the design and function of the bathroom. Bathroom vanities offer the added benefit of making the upkeep of entire bathroom space much easier.
In 2020, Europe held the largest share of the global bathroom vanities market. The demand for bathroom vanities is increasing due to the rising number of construction projects in the region. Additionally, the growing consumer preference for modern facilities such as specialized countertops, coupled with the rising demand for aesthetic appeal in the interiors of residential buildings, is favoring the market growth in the region. The presence of major market players along with the introduction of several product lines is expected to boost the demand for bathroom vanities in the region. The rising popularity of e-commerce retailing of bathroom vanities is also projected to drive the market in region.
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Bathroom Vanities Market: Strategic Insights
Market Size Value in US$ 36,047.21 Million in 2021 Market Size Value by US$ 46,038.15 Million by 2028 Growth rate CAGR of 3.6% from 2021 to 2028 Forecast Period 2021-2028 Base Year 2021
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Bathroom Vanities Market: Strategic Insights
Market Size Value in | US$ 36,047.21 Million in 2021 |
Market Size Value by | US$ 46,038.15 Million by 2028 |
Growth rate | CAGR of 3.6% from 2021 to 2028 |
Forecast Period | 2021-2028 |
Base Year | 2021 |
Shejal
Have a question?
Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Impact of COVID-19 Pandemic on Bathroom Vanities Market
Impact of COVID-19 Pandemic on Bathroom Vanities Market
The ongoing COVID-19 pandemic has drastically altered the status of the construction sector and impacted the growth of the bathroom vanities market. The disruptions in the global supply chain due to the pandemic resulted in a shortage of raw materials. Moreover, the labor shortage led to delays in construction projects. Due to the lockdown measures and stay-at-home mandates, the construction and renovation activities at the commercial level also declined.
However, as people stayed in their homes due to the lockdown, the market also witnessed an increase in the spending on household goods and home renovation. However, this created a demand and supply gap as manufacturers could not meet the rising demand due to raw material shortages. As the economies are planning to revive their operations, the demand for bathroom vanities is expected to rise globally in the coming years.
Bathroom Vanities Market Breakdown – by Region
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Market Insights
Increasing Rate of Housing Completion in Developed Regions
Increasing Rate of Housing Completion in Developed Regions
The increasing rate of housing construction and their completion in developed regions is one of the major driving factors for the market growth. The demand for new houses is strongly supported by purchasing power of people in developed regions and their inclination toward smart and green buildings. Moreover, the developed regions of the world have witnessed an increase in remodeling and renovation activities. Rise in preference for functional bathrooms and modern bathroom amenities has boosted the home interior renovation activities, which in turn is driving the market. Government initiatives for infrastructure development, such as airports, buildings, and metro infrastructures, along with increasing numbers of malls, are also predicted to drive market growth. Moreover, the market is expected to grow significantly during the forecast period due to rapid urbanization in developing economies. Rapid urbanization is leading residential and commercial building construction activities, which is anticipated to favor the market growth and fuel the demand for bathroom vanities for these newly constructed buildings.
Material Insights
Based on material, the market is segmented into stone, ceramic, glass, wood, and metal. The wood segment held the largest share of the marketin 2020. The high adoption of wood as a material for bathroom vanities is primarily due to the ease of customization provided by wood. In addition, wood also provides aesthetic view to bathroom vanity products, which is contributing significantly to the market growth for the wood segment.
Bathroom Vanities Market, by Material – 2020 and 2028
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
The key players operating in the global bathroom vanities market include Avanity Corporation; Bellaterra Home, LLC.; Caesarstone.; Foremost Groups, Inc.; Kohler Co.; MasterBrand Cabinets Inc; Roca Sanitario S.A; Wilsonart LLC.; Dupont Plumbing Supplies; and Inter IKEA Systems B.V.
Report Spotlights
- Progressive industry trends in the bathroom vanities market to help players develop effective long-term strategies
- Business growth strategies adopted by companies operating in developed and developing markets
- Quantitative analysis of the bathroom vanities market from 2019 to 2028
- Estimation of global demand for bathroom vanities
- Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry
- Recent developments to understand the competitive market scenario
- Market trends and outlook, as well as factors driving and restraining the growth of the bathroom vanities market
- Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the bathroom vanities marketgrowth
- The size of the bathroom vanities market size at various nodes
- Detailed overview and segmentation of the market, as well as the bathroom vanities industry dynamics
- Size of the bathroom vanities market in various regions with promising growth opportunities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Material, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The glass segment is the fastest growing segment in the global bathroom vanities market during the forecasted period. The market growth for the segment can be attributed to the wide availability of color glasses and their properties, such as moisture and heat resistance.
Asia Pacific (APAC) is expected to grow at fastest CAGR in the forecast period. The growth of the region can be attributed to the rise in population and improved standard of living have stimulated the market growth in the region.
The commercial segment held the largest share of the market in 2021. The segment growth can be attributed to the rising fitting of bathroom vanities in commercial properties. Also, the growing number of malls, airports, and corporate offices globally is boosting the sales of bathroom vanities.
The wood segment held the largest share of the global bathroom vanities market in 2021. Wood is extensively used in bathroom vanities due to its lightweight, easy maintenance and availability, and durability. Also, the material provides a great extent of customization along with an aesthetic view to bathroom vanity products.
In 2021, Europe held the largest share of the global bathroom vanities market. The major factor driving the bathroom vanities market in the European region is the increasing consumer preferences for modern facilities such as specialized countertops which incorporate sinks are boosting the demand for bathroom vanities.
The major players operating in the global bathroom vanities market Avanity Corporation; Bellaterra Home, LLC.; Caesarstone; Foremost Groups, Inc.; Kohler Co.; MasterBrand Cabinets, Inc.; Roca Sanitario S.A.; Wilsonart LLC.; Dupont Plumbing Supplies and Inter IKEA Systems B.V among others.
The List of Companies - Bathroom Vanities Market
- Avanity Corporation
- Bellaterra Home, LLC
- Caesarstone
- Foremost Groups, Inc.
- Kohler Co.
- MasterBrand Cabinets Inc.
- Roca Sanitario, S.A.
- Wilsonart LLC
- Dupont Plumbing Supplies
- INTER IKEA SYSTEMS B.V.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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