Bathroom Accessories Market Size, Share & Trends Report

Bathroom Accessories Market Size, Share & Trends Analysis Report By Product (Towel Rack/Ring, Hook, Paper Holder, Grab Bars), By Region (North America, Europe, APAC, Central & South America, MEA), And Segment Forecasts, 2021 - 2028

  • Published Date: Apr, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-4-68039-418-0
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2019
  • Number of Pages: 80

Report Overview

The global bathroom accessories market size was valued at USD 17.05 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 10.2% from 2021 to 2028. With the increasing expansion of real estate as well as commercial construction, the bathroom fittings industry is bound to receive a major boost, thereby propelling the demand for bathroom accessories. In addition, the rising disposable income and changing lifestyles of consumers in emerging markets, like China and India, are anticipated to spur market growth in the forthcoming years. For instance, according to Knoema, the world’s leisure travel and tourism spending was estimated at USD 4,687 billion in 2019. This indicates that consumers are increasingly willing to spend on a quality lifestyle, which eventually expands the scope of the market.

U.S. bathroom accessories market size, by product, 2016 - 2028 (USD Million)

Increased spending on home improvement projects or home remodeling is boosting product demand. This trend is primarily fueled by rising home prices and mortgage rates being at an all-time low. Growing home values have doubled homeowners’ equity in the period of five years till 2019, indicating a surge in spending capacity on home improvement. According to the National Association of Realtors (NAR), existing-home sales rose by 10.5% y-o-y to a seasonally adjusted annual rate of 6 million units in August 2020.        

Likewise, according to the U.S. Census Bureau, new homes sold soared 43.2% y-o-y to a seasonally adjusted annual rate of 1,011,000 units in August 2020. Furthermore, house prices in Canada grew 4.6% YoY in November 2020, following an increase of 3.9% YoY in the previous month.

Moreover, an increase in the average number of bathrooms in U.S. households is leading to greater adoption of newer plumbing fixtures. In the past half-century, the number of bathrooms per person in America has doubled. Also, the share of houses with 10 or more bathrooms has doubled in the past decade, according to a January 2020 blog by The Atlantic. According to the U.S. Census Bureau, of the 903,000 single-family homes completed in 2019, 32,000 had one and one-half bathrooms or less and 296,000 homes had three or more bathrooms. This trend is projected to upscale the demand for plumbing fixtures.

In addition, the growth of the portable sanitation industry poses a major opportunity for manufacturers to derive market growth for bathroom accessories. According to the Portable Sanitation Association International, there were 3.6 million portable restrooms in service across the globe in 2019, with the English-speaking North American region representing between 2.0 million and 2.2 million that year. Thus, increasing construction activities in this industry pose several growth prospects for the market across the globe.

Product Insights

The towel rack/ring product segment held the largest share of 41.4% in 2020. This is attributed to the fact that apart from being highly functional, heated towel rails and racks add an ultra-stylish flair to bathroom spaces. The growing trend of installing heated towel rails has driven manufacturers to add different finishes and colors to these products. Black, white, and rose gold are some of the most popular color choices among consumers. Moreover, the rising disposable income of people across regions has paved the way for a luxurious lifestyle, which drives the adoption of luxury bathroom products and accessories, particularly in urban areas.

Paper holder has gained increased popularity among consumers. This segment is primarily driven by the hospitality sector, which includes hotels, hospitals, and guest houses. The demand for paper holders in bathrooms is particularly high in hotels with a retail value of USD 500 billion and above. These holders come in a variety of materials, such as steel, zinc alloy, brushed nickel and chrome, brass, and chromium, and are available as wall-mounted accessories or in the form of paper holder stands.

According to Tissue World Magazine, over the past 25 years, toilet paper sales have grown by 3.7% worldwide and there has never been a year where sales have contracted. Developing countries are particularly driving this increased demand as the CAGR for the product is greater than 2 percent in Latin America, Eastern Europe, and Asia (excluding Japan).

Regional Insights

Asia Pacific dominated the market with a share of 35.7% in 2020 and is expected to witness the fastest growth over the forecast period. This is attributed to the region being characterized by construction growth in China and India, along with the emergence of Bangladesh, Myanmar, and Vietnam as high-growth economies. China and India, which are home to approximately 2.4 billion people as of 2019, have traditionally dominated various social and economic indicators, such as household spending, middle-class income growth, construction spending, and affordable housing programs. However, the coronavirus pandemic has affected construction projects across the region, which has led to low demand for construction materials as well as disruptions in supply chains. Recent economic reopening measures by various countries have led to the construction industry’s gradual recovery, which, in turn, is contributing to the stabilizing of demand for materials.

Europe is expected to register a CAGR of 10.0% from 2021 to 2028. The region is home to major economies, such as the U.K., Germany, France, and Italy, with high levels of household spending and mature infrastructure sectors. The European market is characterized by a strong intra-continent trade of goods, wide market access to companies, and a high-income population, courtesy to the European Union and Eurozone agreements.

Global bathroom accessories market share, by region, 2020 (%)

Considering the high-income levels of the Western European nations, the market for bathroom accessories provides lucrative opportunities for companies in terms of high-end product offerings, innovative designs, and sophisticated distribution channels. According to EUROMETAL, in 2020, the EU construction sector output grew 3.4% on-year in the third quarter of 2019, compared to 4.6% and 6.4% in the first and second quarter, respectively. The growth was particularly pronounced in Hungary, the Netherlands, Poland, and Spain.

Key Companies & Market Share Insights

The industry has a large number of international and regional players. The impact of these established players on the market is quite high as a majority of them have vast distribution networks across North America, Europe, and Asia Pacific to reach out to their large customer base. The key players operating in the market are focusing on strategic initiatives, such as product launches, participation in events, and expansions, in order to boost revenue growth and reinforce their position in the market.

Key players are also involved in product launches in order to fuel their growth in the future and solidify their position in the market. For instance, in March 2020, Vogue (UK) launched a new aluminum astute towel warmer that is extremely lightweight, making it suitable for installation on any type of internal wall. Aluminum has been used in order to achieve high production efficiency. Some prominent players in the global bathroom accessories market include: -

  • LIXIL Group Corporation

  • TOTO Ltd.

  • Kohler Co.

  • Roca Sanitario, S.A.

  • Moen Incorporated

  • Hansgrohe Group

  • Gerber Plumbing Fixtures LLC

  • Monarch Bath Pvt. Ltd.

  • Bolina Holding Co., Ltd.

  • ASI American Specialties, Inc.

Bathroom Accessories Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 18.62 billion

Revenue forecast in 2028

USD 37.08 billion

Growth Rate

CAGR of 10.2% from 2021 to 2028

Base year for estimation

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million/billion and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; MEA

Country scope

U.S.; U.K.; China; India; UAE     

Key companies profiled

LIXIL Group Corporation; TOTO Ltd.; Kohler Co.; Roca Sanitario, S.A.; Moen Incorporated; Hansgrohe Group; Gerber Plumbing Fixtures LLC; Monarch Bath Pvt. Ltd.; Bolina Holding Co., Ltd.; ASI American Specialties, Inc.

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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 and opportunities in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research has segmented the global bathroom accessories market report on the basis of product and region:

  •  Product Outlook (Revenue, USD Million, 2016 - 2028)

    • Towel Rack/Ring

    • Hook

    • Paper Holder

    • Grab Bars

    • Others

  • Regional Outlook (Revenue, USD Million, 2016 - 2028)

    • North America

      • U.S.

    • Europe

      • U.K.

    • Asia Pacific

      • China

      • India

    • Central & South America

    • Middle East & Africa

      • UAE

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