Bathroom Vanities Market: Key Insights
According to our latest market study on “Bathroom Vanities Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Material (Stone, Ceramic, Glass, Wood, and Metal) and Application (Residential and Commercial),” 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 provide benefits such as space-saving, medical chests, and other attractive storage options, which is supporting the bathroom vanities market growth. Moreover, there has been a significant shift in the remodeling business trends, including remodeling for accessibility, customizations, and technological integrations. This trend is further driving the market growth. The market has also witnessed increased demand for the latest bath décor options.
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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.
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.
Key Questions regarding Current Bathroom Vanities Market Landscape
- What are the current options for Bathroom Vanities Market?
- How many companies are developing for the Bathroom Vanities Market?
- What are the key collaborations (Industry-Industry, Industry-Academia), Mergers and acquisitions, and significant licensing activities that will impact the Bathroom Vanities market?
- Which are the dormant and discontinued products and the reasons for the same?
- What is the unmet need for current Bathroom Vanities Market?
- What are the current novel therapies, targets, mechanisms of action, and technologies developed to overcome the limitation of existing Bathroom Vanities?
- What are the critical designations that have been granted for Bathroom Vanities Market?
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Bathroom Vanities Market: Competitive Landscape
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.
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.
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