Bath Furnishing Market Size, Share & Trends Analysis Report By Product (Furniture, Fittings), By Distribution Channel (Online, Offline), By Region, And Segment Forecasts, 2019 - 2025

Report Overview

The global bath furnishing market size was valued at USD 37.8 billion in 2018 and is estimated to expand at a CAGR of 3.3% for the forecast period. The market is driven by the growth of the hospitality and tourism sectors and the rising demand for hygienic bathroom products across these industries. Moreover, demand for different products such as mirrors, cabinets, and showerheads of the bathroom, along with the 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 the affordability of different products by consumers. Consumers tend to make a 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. The growth of the sector is analyzed by the use of innovative bathroom products by consumers such as faucets and cabinets in the market.

The industry growth is also attributed to the booming tourism sector in 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, showerheads, decorative mirrors, and carpets have initiated the 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 has surged market growth. Consumers are aware of the benefits of different products through advertisements and promotional activities by the leading manufacturers. This also helps to drive the demand for premium products among consumers.

Product Insights

The furniture segment accounted for the largest share of 72.9% in 2018. Growing brand awareness and an increase in sales of furniture products among millennials are influencing the demand for bathroom accessories. Moreover, the 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 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 the rise in the class of population is anticipated to boost the segment growth. An 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 the market. Moreover, the availability of various products such as the type of mirrors and carpets, along with the rise in the regional demand for premium products, is likely to drive the segment over the 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 the quality and exact size and dimension as compatible with their bathrooms. Moreover, a wide range of products through stores, along with the availability of certain brands and effective pricing, is anticipated to boost the demand over the forecast period.

Ease of access to different products, variation in pricing, along with brand comparison, provides a growth opportunity for the market. An increase in the number of furniture stores, DIY shops, and specialty stores has contributed significantly to the offline sales of products in the 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 an 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 the door to door delivery services preferable by consumers in the market. The market is also driven by the ease in handling and labor work offered in online sales of products in the market. Deals, offers, and discounted items offered through the online sector are 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 a rise in demand for home improvement products in the U.S., along with different types of furniture such as vanity cabinets, storage units, mirror cabinets, and shelving products. Moreover, the rise in expenditure on home renovations in the U.S. is anticipated to boost the growth of the bathroom products over the forecast period. Remodeling projects in the U.S. are anticipated to increase over the forecast period. Moreover, a 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 the increasing number of construction projects in countries such as India and China. Demand is anticipated to increase due to the rise in the modernization and changing lifestyle of the consumers, thereby driving the demand for bathroom accessories in the market. Moreover, the market is likely to witness significant growth due to the incorporation of interior designing techniques by consumers in the industry.

Key Companies & Market Share Insights

Rising demand for the bathroom products in China, India, and Japan due to the 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 the emergence of decorative and premium products in the market.

Bath Furnishing Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Grand View Research has segmented the global bath furnishing market report on the basis of product, distribution channel, and region:

• Product Outlook (Revenue, USD Billion, 2015 - 2025)

  • Furniture

  • Fittings

  • Others

• Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)

  • Online

  • Offline

• Regional Outlook (Revenue, USD Billion, 2015 - 2025)

  • North America

    • The U.S.

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • China

    • India

  • Central & South America

    • Brazil

  • Middle East & Africa

    • South Africa