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Bath Furnishing Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global bath furnishing products market was valued at USD 5.9 billion in 2022 and is expected to expand at a CAGR of 5.2% from 2023 to 2030. Growing consumer preferences for luxury and stylish bathroom designs, coupled with the rising demand for technologically advanced shower systems, is driving the growth of the market. Furthermore, the increasing disposable income of consumers is propelling the demand for luxurious bath furnishing products such as bathtubs, faucets, and shower enclosures.
The rising trend of home renovation and remodelling is driving the demand for bath furnishing products. Consumers are investing in the renovation of their homes to make them more luxurious and stylish. Furthermore, the growing trend of hotels and resorts is also driving the demand for these products. As a result, key manufacturers are launching innovative products to meet the needs of customers. For example, in April 2021, Kohler launched a new line of bathtubs called Reflection, which offers comfort, luxury, and convenience to the customers.
In addition, the increasing demand for smart home products is boosting the growth of the market. Smart products such as showerheads, bathtubs, and faucets have features such as temperature and flow control, voice control, and touchless control, which are gaining popularity among consumers. For instance, in August 2021, Moen Inc. launched a voice-activated shower system, which allows users to adjust their shower settings with voice commands.
The growing popularity of green building standards is also positively impacting the growth of the market. The demand for eco-friendly and sustainable products is increasing significantly as consumers are becoming more aware of environmental issues. Manufacturers are launching innovative products with advanced features such as water conservation, energy efficiency, and recyclability. For instance, in October 2021, TOTO launched an eco-friendly bathroom collection that uses recycled materials, such as recycled water bottles, in their construction.
Moreover, the growing demand for luxury bath furnishing products from the residential sector is expected to support the growth of the market. The growing trend of using luxurious, high-end products, such as marble and granite, is driving the demand for such products in the residential segment. Additionally, the increasing focus on using innovative and ergonomic designs to enhance the bathroom experience is expected to increase the sales of bath furnishing products.
Product Insights
The bath tubs segment dominated the global bath furnishing products market and accounted for a share of 33.7% in 2022. Increasing focus of consumers on luxurious bathroom amenities and growing trend of installing bathtubs in homes are some of the major factors driving the growth of bath tubs market. According to an article published by the American Institute of Architects in December 2018, in the United States, the demand for bathtubs increased by 15% in 2017.
The shower enclosures segment is expected to witness the fastest CAGR of 7.3% over the forecast period. Growing importance of aesthetic designs in bathrooms, increasing prevalence of smart bathrooms, and growing demand for shower enclosures with sliding doors are some of the major factors driving the growth of the market. Additionally, increasing focus on including safety features in shower enclosures such as tempered glasses, steam showers, and waterproofing is also boosting the demand for shower enclosures globally.
Distribution Channel Insights
The supermarkets and hypermarkets segment accounted for the largest share of the bath furnishing products market in 2022. The growth of this segment is due to the rising consumer inclination towards supermarkets and hypermarkets as a primary source to purchase bath furnishing products. Supermarkets & hypermarkets offer a reasonable selection of products, assist customers in making rapid purchasing decisions for the required bath furnishing products, and also provide a wider range of options for customers to choose from.
The online segment is anticipated to expand at the highest CAGR of 12.6% over the forecast period. The development of e-commerce in the bath furnishing products industry has been rapid, with companies launching online websites and shopping apps to increase their brand visibility among consumers. For instance, in December 2022, Home Depot launched a dedicated website for bath furnishing products. The website offers a wide range of products from top brands, along with expert advice and opinions on choosing the best bath furnishing products.
Type Insights
The bathroom furnishings market is divided into two segments, namely, luxury and non-luxury. The non-luxury segment is projected to account for the largest market share of 79.4% in the year 2022. The availability of a wide range of low-cost bathroom furnishings and accessories, coupled with the increasing demand from budget-conscious consumers, is driving the growth of the segment. Additionally, the increasing demand for bathroom accessories, such as shower curtains, shower trays, toilet seats, and toilet pans, is further driving the demand for non-luxury bathroom furnishings.
The luxury segment is expected to expand at the highest CAGR of 11.0% during the forecast period. The growing purchasing power of consumers, especially in developing countries, is driving the demand for luxury bathroom furnishings. Additionally, the rising demand for custom-made bathroom furnishings, such as customized bathtubs, showers, and shower enclosures, is also driving the growth of this segment. Furthermore, the increasing trend of home improvement and renovation activities is expected to drive the demand for luxury bathroom furnishings in the forecasted period.
Regional Insights
Europe is expected to dominate the global bath furnishing products market in the forecast period. This growth can be attributed to the high disposable income levels among consumers, which allows them to invest in luxury upholstery. Moreover, the presence of prominent players, such as Duravit, Porcelanosa, and Villeroy & Boch, is expected to increase the demand for bath furnishing products in the region.
Asia Pacific is expected to be the fastest-growing region during the forecast period. A rapidly increasing population and rising disposable incomes are the two key factors driving the demand for bath furnishing products in the region. Moreover, the growth in the hospitality sector is expected to further drive the demand for bath furnishing products in the region. For instance, in January 2022, the Taj Mahal Palace, Mumbai, India, launched a luxury suite with a bathroom furnished with high-end products from Porcelanosa.
Financial Projections
In this part of the bath furnishing products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your bath furnishing products business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a bath furnishing products business comes from the sale of products, online, wholesale, and retail. Here you will find a list with a description of each of them, as well as additional revenue sources such as the sale of gift cards, promotional discounts, and loyalty programs.
Projecting Expenses
In this section, all the regular expenses related to keeping the bath furnishing products business running will be described. The list of operating expenses includes rent, wages, inventory purchase, utilities, marketing and advertising, insurance policies, and others.
Key companies & market share insights
Some of the key companies operating in the bath furnishing market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In September 2022, Kohler Co. launched the Revival collection of bath furnishing products, which includes bathtubs, vanities, faucets, and other accessories.
– In August 2022, American Standard launched the Boulevard Collection of bath furnishing products, which includes bathtubs, vanities, showerheads, and other accessories.
– In October 2022, Delta Faucet Company launched the Windemere collection of bath furnishing products, which includes bathtubs, vanities, faucets, and other accessories.
Some of the prominent players in the bath furnishing market include:
– Kohler Co.
– American Standard Brands
– Delta Faucet Company
– Moen Inc
– TOTO Ltd.
– Gerber Plumbing Fixtures LLC
– Masco Corporation
– LIXIL Group Corporation
– Hansgrohe SE
– Roca Sanitario, S.A.
Global Bath Furnishing Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global bath furnishing products market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Bathroom Fixtures
– Bathroom Furniture
– Bathroom Accessories
– Bathroom Textiles
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Supermarkets & Hypermarkets
– Online
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Mass
– Premium
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the Major Drivers of the Bath Furnishing Products Market?
[A]: The key drivers of the bath furnishing products market are the rising trend of the home renovation industry, and the increasing demand for luxury and designer bath furnishings. Additionally, factors such as the growing importance of modern and luxurious bathrooms, changing lifestyles, and increasing disposable incomes are also boosting the demand for bath furnishings.
[Q]: Who are the Major Players in the Bath Furnishing Products Market?
[A]: Major players in the bath furnishing products market include Kohler Co., Jacuzzi Brands LLC, Masco Corporation, Jaquar Group, Roca Sanitario, S.A., TOTO Ltd., American Standard Brands, Duravit AG, Grohe AG, and Masco Corporation.
[Q]: What are the Key Segments of the Bath Furnishing Products Market?
[A]: The bath furnishing products market can be segmented into product type, distribution channel, and region. Based on product type, the market is divided into bathroom furniture, shower systems, bathtubs & whirlpools, and others. Based on distribution channel, the market is divided into offline stores, online stores, and others.
[Q]: What are the Key Trends in the Bath Furnishing Products Market?
[A]: The key trends in the bath furnishing products market include increasing demand for technologically advanced bath furnishings, the growing popularity of smart and connected bathrooms, increasing demand for luxury and designer bath furnishings, and the introduction of eco-friendly and sustainable bath furnishings.
[Q]: Which Region Offers the Largest Opportunity for Sales of Bath Furnishing Products?
[A]: North America is expected to be the most lucrative region, with an absolute dollar opportunity of $20.8 billion (USD) over the forecast period. This is mainly due to the rising prevalence of home renovation projects in the region, and the increasing disposable incomes of consumers.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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