Bathroom Vanities Market Size, Share & Trends Analysis Report By Material (Stone, Ceramic, Wood), By Application (Residential, Non-residential), By Size, And Segment Forecasts, 2019 - 2025

Industry Insights

The global bathroom vanities market size was valued at USD 7.5 billion in 2018 and is expected to expand at a CAGR of 5.9% from 2019 to 2025. The growing trend of multi-utility home décor units and bath utilities is expected to be a key factor in boosting the market growth. Rising demand for more functional bathrooms may promote the installation of specialized countertops that incorporate sinks.

In the recent past, there has been a notable surge in bathroom remodeling expenditure across the globe mainly due to the steady inflow of evolved designs in bathroom fitments and fixtures. These expenditures are expected to outpace other housing improvement expenditures over the forecast period. The trend is also expected to emerge as a key driving factor in the market over the forecast period.

Rising house completion rates across developed regions are also expected to be a key driving factor in the market over the forecast period. Increased expenditure on the remodeling and retrofitting of existing bathrooms in the developed as well as developing economies, is also expected to boost the demand for bathroom vanities over the forecast period. Additionally, the rising purchasing power of individuals and multiple promotional activities undertaken by the real estate industry is also anticipated to bolster the growth prospects in the market over the forecast period.

Increasing demand for new residential construction projects in urban areas to support rising migration to the cities and swelling global population has reduced the potential area to be allocated for bathrooms in each housing unit in a number of regions. This factor is likely to inversely affect bathroom vanities market growth over the forecast period.

The world today is constantly moving towards online sales when it comes to shopping for everyday consumer goods as well as household appliances. The brick and mortar retail sector are in a constant battle to retain its customer base. Although 94% of the sales still take place through this sector, the online sales industry is experiencing tremendous growth, resulting in an intense competition between the direct retailers and e-commerce companies, eventually benefiting the consumers.

The rising popularity of the e-commerce retailing of vanities has also helped the market growth to proliferate. Apart from making several product lines available, some e-commerce retail sites have also started offering simulation to help consumers redesign their bathroom with suitable vanity products. E-commerce retailing of vanities is becoming an increasingly popular mode of purchase by allowing customers easy access to the latest products and information, thereby positively influencing the market growth in the near future.

Application Insights

The residential segment accounted for the largest share in the market in 2018 and is expected to retain its position owing to high demand amid rapidly increasing urbanization. There is a surge in demand for cabinets with value-added amenities such as medical chests, space savers, and frameless wall-mounted vanities providing attractive and secure storage options as compared to free-standing or open shelves.

Demand for built-in organizational features such as electrical strips, which allows the usage of electrical equipment such as curling irons or electric toothbrushes, is also expected to boost the sale of advanced fixtures and fitments in modern-day bathrooms. Integrated LED lighting provided as a part of storage offerings, along with decorative feet and door options, has raised customer interest in premium features and finishes.

Vanities with smart technologies such as aroma diffuser machines, chromo lights, and inbuilt sounds are well received by consumers across the globe. Such technological advancements are expected to bolster market growth in the upcoming years. Several companies are manufacturing bathroom cabinets with illuminated LED interiors, which can be operated with the touch of a finger. Additionally, companies such as Foremost Groups, Inc. have introduced antimicrobial protection treatment for stained or painted surfaces, which inhibit the growth of bacteria triggered by stains or odor on the plastic laminates.

Size Insights

The 24-35 inch segment is projected to emerge as the fastest-growing segment, expanding at a CAGR of 6.1% from 2019 to 2025. Increasing demand for compact home decor units is propelling the segment growth. Bathroom vanities in the size range between 24-35 inches also support a single sink vanity top, which is preferred by consumers for residential use. The usual trend suggests that small-sized bathroom vanities are preferred for residential usage. While the sales of 24-35 inch varieties mostly result from the residential application segment, such vanities also find their application in small commercial spaces in certain instances.

Vanities in the 38-47 inch range (medium-sized) are gaining popularity in both residential as well as non-residential application segments. Good storage space and the ability to fit well in compact bathroom spaces are the key factors driving the segment. The compact size of medium-sized vanities ensures that they do not eat up the entire bathroom space but mark their separate identity when it comes to the aesthetic value of the space.

Bathroom vanities ranging between 48-60 inches are used in commercial spaces where more than one sink is required in a countertop. These vanities find their application in commercial spaces such as corporate offices, IT companies, and R&D centers and are rarely used for residential purposes.

Material Insights

The wooden segment dominated the overall market in 2018 and is expected to expand at a CAGR of 6.1% over the forecast period. Other materials used for making vanities include stone, ceramic, glass, and metal. The ceramic segment accounted for the second-largest share in the market in 2018.

Materials such as medium density fibreboard (MDF) and formaldehyde are not promoted to be used in furniture manufacturing in some regions, considering their hazardous ecological and health-related implications. The maximum formaldehyde emissions limit from composite wood products is 0.05 ppm (parts per million) in the U.S. Similarly, the German government has restricted the exposure limit to 0.1 ppm.

Serious threats posed by the materials used in vanity units to the end-user can restrain market growth. MDF is a cost-effective material and can be used with a variety of varnish-, water-, and oil-based paints. It has a high thickness, high tolerance, uniform density, and a smooth surface, which makes it ideal for lamination. However, MDF is composed of wood fibers that are compressed vigorously under heat using a specific resin known as urea-formaldehyde. A majority of the healthcare organizations have identified urea-formaldehyde as a harmful element that may cause several health conditions such as cancer to the people handling it while MDF is manufactured.

As a result, eco-friendly and green materials such as engineered quartz and recycled glass are increasingly used. These materials used in bathroom countertops offer better durability than natural stone, which, in turn, may negatively impact the growth of high-end natural stone. Moreover, a majority of bathroom vanities nowadays are manufactured from solid hardwood, which enhances the longevity of the product. These market trends are likely to increase the demand for solid hardwood materials over the forecast period.

Regional Insights

Asia Pacific led the market and accounted for 31.8% share of the total revenue in 2018. Increasing population and improved standard of living have spurred the growth prospects of the construction sector in the region in the past few years. Growing disposable income has triggered the overall retail market in the region. Changing lifestyles and rapid trend shifts owing to urbanization across emerging countries such as China and India are projected to boost the regional market growth over the forecast period.

North America accounted for 28.8% share of the overall revenue in 2018. The growth is attributed to a rise in housing completion rates in the region, which is likely to remain a key driving factor in the market over the forecast period. The large funds spent on remodeling and retrofitting of existing bathrooms in the region are also expected to boost the demand for bathroom vanities over the forecast period.

Bathroom Vanities Market Share Insights

The market is highly competitive and sparsely concentrated with a pool of manufacturers, raw material suppliers, and retailers. Some of the key market participants are Masco Corporation; MasterBrand Cabinets Inc.; American Woodmark Corporation; DuPont; and Foremost Groups, Inc. The introduction of attractive designs and continuous updates in styling, coupled with the use of unhazardous materials, are the key factors increasing the competition in the market. Companies also resort to mergers and acquisitions as a way of diversifying their product portfolio and gaining a larger market share.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis on 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 bathroom vanities market report on the basis of application, material, size, and region:

• Application Outlook (Revenue, USD Million, 2015 - 2025)

  • Residential

  • Non-residential

• Material Outlook (Revenue, USD Million, 2015 - 2025)

  • Stone

  • Ceramic

  • Glass

  • Wood

  • Metal

• Size Outlook (Revenue, USD Million, 2015 - 2025)

  • 24 - 35 inch

  • 38 - 47 inch

  • 48 - 60 inch

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

  • North America

    • The U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • China

    • India

    • Japan

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa