Global Bathroom Accessories Market Size To Exceed USD 64.26 Billion By 2033 | CAGR of 11.26%
Category: Consumer GoodsGlobal Bathroom Accessories Market Size To Exceed USD 64.26 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Bathroom Accessories Market Size is Expected to Grow from USD 22.10 Billion in 2023 to USD 64.26 Billion By 2033, at a CAGR of 11.26% during the Forecast period 2023-2033.
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Browse key industry insights spread across 250 pages with 115 Market data tables and figures & charts from the report on the "Global Bathroom Accessories Market Size, Share, and COVID-19 Impact Analysis, By Product type (Towel Rack/Ring, Hook, Paper Holder, and Grab Bars), By Application (Residential and Commercial), By Distribution Channel (Offline and Online), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/bathroom-accessories-market
Bathroom accessories consist of a vast array of items that are aimed at both beautifying and adding functionality to bathroom areas. Such fixtures include the soap dispenser, towel rack, toothbrush holder, and toilet paper holder. These accessories both add convenience to users and help beautify the bathroom. The increasing focus on home furnishings and the personalization of living areas is also a significant factor, with consumers looking to maximize the functionality and beauty of their bathrooms. In addition, the movement towards sustainability and environmentally friendly products is impacting consumer trends, with increasing demand for water-conserving fixtures and eco-friendly materials. Additionally, digital shower panels with LCD screens can even permit users to regulate water flow and listen to music. Smartphones and smart devices such as Alexa and Google Home can also be integrated. Kohler, a leading vendor, provides KOHLER Konnect, an IoT smart home network based on Microsoft Azure. However, the long product replacement cycle is the major challenge that influences the market growth. Washbasins, toilets, shower units, towel rails, rings, hooks, and other bathroom accessories of high quality do not need to be replaced often. Additionally, in areas such as North America and Western Europe, where bathroom items are already widely adopted, the market is near saturation.
The towel rack/ring segment held the largest share of the market in 2023 and is projected to grow at a substantial CAGR during the forecast period.
Based on product type, the bathroom accessories market is segmented into towel rack/ring, hook, paper holder, and grab bars. Among these, the towel rack/ring segment held the largest share of the market in 2023 and is projected to grow at a substantial CAGR during the forecast period. The growth is attributed to the increased interest in home renovation and improvement, particularly in emerging economies helped fuel the growth of the segment. Additionally, increased awareness and demand for water-efficient and green products also contributed to the growth of towel racks and rings.
The residential segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on application, the global bathroom accessories market is divided into residential and commercial. Among these, the residential segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The growth is driven by spurring growing home building and house refurbishment, disposable incomes, and growing awareness of water conservation. Additionally, the enormous drop in property sales caused by the pandemic, and real estate activity started to pick up and reach pre-pandemic levels.
The hypermarkets & supermarkets segment accounted for the biggest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the distribution channel, the global bathroom accessories market is categorized into offline and online. Among these, the offline segment accounted for the biggest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The segmental growth is due to their wide reach, convenience, and capacity to supply a diverse range of products. Moreover, provides customers with a physical shopping experience, whereby they can view, touch, and feel the products before making any purchase.
Asia-Pacific is expected to hold the majority share of the global Bathroom Accessories market during the forecast period.
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Asia-Pacific is expected to hold the majority share of the global Bathroom Accessories market during the forecast period. Asia-Pacific dominates the market with high investments in infrastructure growth and fast urbanization. Furthermore, an increase in the disposable income of individuals, increased interest in home renovation, and introduction of low-cost housing projects are also expected to seal the supremacy of this region in the future.
North America is anticipated to grow at the fastest pace in the global Bathroom Accessories market during the forecast period. North America is rapidly growing due to upgrades and renovations in commercial and residential buildings. The U.S. economy is supported by consumers' desires for energy-efficient and intelligent bathroom solutions, an indicator of a wider shift towards smart homes.
Major vendors in the global Bathroom Accessories market are TOTO Ltd., Kohler Co., Roca Sanitario S.A.U., Moen Incorporated, Hansgrohe, Gerber Plumbing Fixtures Llc, Monarch Bath Pvt. Ltd., Bolina Holding Co Ltd, American Specialties, Inc, Monarch Bath Pvt. Ltd, Bolina Holding Co., Ltd, Roca Sanitario, S.A, and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Key Market Development
- In january 2022, Pearl Precision Launched state-of-the-art bathroom accessories comprising the CP Faucets family collecton range, Health Faucets and Flushing Systems, aprt from Cisterns, Seat Covers, P.T.M.T Taps and Kitchen Sinks, among others.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the Bathroom Accessories market based on the below-mentioned segments:
Global Bathroom Accessories Market, By Product Type
- Towel Rack/Ring
- Hook
- Paper Holder
- Grab Bars
Global Bathroom Accessories Market, By Application
- Residential
- Commercial
Global Bathroom Accessories Market, By Distribution Channels
- Offline
- Online
Global Bathroom Accessories Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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