GVR Report cover Bathroom Vanities Market Size, Share & Trends Report

Bathroom Vanities Market Size, Share & Trends Analysis Report By Application (Residential, Non-Residential), By Material (Stone, Ceramic, Glass, Wood, Metal) By Size (24-35 Inch, 38-47 Inch, 48-60 Inch), By Region, And Segment Forecasts, 2022 - 2030

  • Report ID: 978-1-68038-391-1
  • Number of Pages: 80
  • Format: Electronic (PDF)

Report Overview

The global bathroom vanities market size was valued at USD 36.34 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 7.6% from 2022 to 2030. The global demand for bathroom vanities is being driven by the expanding leisure and hospitality industries. Furthermore, it is expected that the market for bathroom vanities would grow in the next years due to increased disposable income and shifting consumer lifestyles in regions like the Asia Pacific and Europe. The coronavirus pandemic has posed numerous challenges for conventional stores in the retail industry. According to Amperity COVID-19 Retail Monitor, which has been tracking consumer behavior across categories and channels of 100 North American retail brands, the overall demand in retail was down by 90% year-over-year, as of 6th April 2020. The losses are mainly driven by the temporary closure of retail stores. However, online revenue also dropped 74% year-over-year, creating a major challenge for the supply and distribution of essentials.

 U.S. bathroom vanities market size, by application, 2020 - 2030 (USD Billion)

Additionally, COVID-19 has affected every industry globally, with the hotel sector among the worst affected. Due to travel restrictions and lockdowns, the commercial bathroom vanities business has been disrupted. Due to ongoing health issues from the ongoing epidemic and the weakening economy, the travel industry as a whole has seen a significant downturn.

An increase in the average number of bathrooms in U.S. households is also resulting in the greater adoption of storage around sinks or basins. In the past half-century, the number of bathrooms per person in America has doubled. Moreover, the share of houses with 10 or more bathrooms has doubled in the past decade, according to a January 2020 blog post 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 fuel the demand for bathroom vanities.

Market growth is also anticipated to be fueled by government initiatives for the development of infrastructures, such as airports, buildings, railway stations, and malls. In addition, the market is anticipated to expand rapidly over the course of the projected period as a result of rapid urbanization. Additionally, the demand for better utility services near sinks is increasing due to the thriving commercial construction industry, notably in the hospitality sector, which includes hotels, resorts, and hospitals.

To complement the modern urban lifestyle, key industry participants such as JSG Oceana and Kohler are coming up with smart, upgraded, and visually appealing products. Furthermore, the rising inclination toward elegant, stylish, modern, and fancy bathrooms is anticipated to widen the scope of premium-quality bathroom vanities in the projected period.

E-tailing or direct-to-consumer as a sales channel offers immense scope for market entrants as they do not have a rigid supply chain model. Players operating in the industry have increased their focus on e-tailing owing to the growing consumer demand for online shopping on account of convenience and flexibility. For instance, a key player such as Kohler Co. offers this type of convenience store retailing to broaden their market reach and widen the scope of product application.

Application Insights

In terms of revenue, the residential segment dominated the market with a share of around 77.4% in 2021. In order to keep a bathroom clutter-free, the use of a bathroom cabinet is valuable. Cabinets with mirror front and compartments to keep toiletries and other things organized are preferred at most residential places predicting substantial growth over the forecasted period.

The non-residential segment is projected to register a CAGR of 8.6% from 2022 to 2030. Bathroom vanities with smart technologies such as aroma diffuser machines, chromo lights, and inbuilt sounds are well received by consumers staying at a hotel/ resort and many others across the globe. Such technological advancements are expected to bolster market growth in the upcoming years.

Material Insights

In terms of revenue, the wood segment dominated the market with a share of around 34.58% in 2021. According to Houzz Inc. in 2022, 30% of those who have recently renovated are preferring wood bathroom vanities, especially those with a matte finish. It can be relatively neutral while adding a touch of warmth and comfort to the room.

 Global bathroom vanities market share, by material, 2021 (%)

The glass segment is estimated to grow with the fastest CAGR of 9.5% over the forecast period. Additionally, ceramic basin alternatives will be incorporated into designs employing novel materials like glass, concrete, pressured surfaces, and mineral cast basins.

Size Insights

In terms of revenue, the 37-48-inch holds the largest market share of 43.6% in the year 2021 and is expected to affect the market growth positively. The segment is primarily driven by good storage capacity and the ability to fit effectively in small bathroom areas. Medium-sized vanities are designed to be compact so that they do not take up the entire bathroom area and instead distinguish themselves when it comes to the aesthetic value of the room.

The 25 - 34 inch, segment is estimated to grow with the fastest CAGR of 8.4% over the forecast period. Single-sink vanity tops are supported by bathroom vanities in the 24- to 35-inch size range, which is favored by consumers for residential use. Small-sized bathroom vanities are typically favored for residential use, according to the common trend.

Regional Insights

Asia Pacific regional market accounted for the largest market share of more than 32% in 2021 and is expected to witness a CAGR of 9.1% during the forecast period from 2022 to 2030. The 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 regional market growth over the forecast period.

Bathroom Vanities Market Trends by Region

North America has the bathroom vanities market with a share of 29.1% in 2021. 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.

Key Companies & Market Share Insights

The market is characterized by the presence of a few established players and new entrants. Many big players are increasing their focus on the growing trend of bathroom vanities. Players in the market are diversifying their service offerings in order to maintain market share.

  • In October 2022, American Woodmark Corporation will boost the capacity of its stock kitchen and bathroom cabinets for markets on the east coast. Over the next two years, the project will require an estimated total capital investment of $65 million.
  • In October 2022, Kohler Co. received a Good Housekeeping 2022 Home Reno Award in various categories which also includes Maxstow Lighted Medicine Cabinets to modernize the bathroom while maximizing storage space.

Some of the key players operating in the global bathroom vanities market include:

  • American Woodmark Corporation

  • Avanity Corporation

  • Bellaterra Home, LLC

  • Design Element Group, Inc.

  • Design House (DHI Corp.)

  • Empire Industries, Inc.

  • Foremost Groups

  • JSG Oceana

  • Kohler Company

  • RSI Home Products, Inc.

  • Wilsonart International LLC

  • DuPont

  • Caesarstone

Bathroom Vanities Market Report Scope

Report Attribute

Details

Market size value in 2022

USD 38.34 billion

Revenue forecast in 2030

USD 70.0 billion

Growth rate

CAGR of 7.6% from 2022 to 2030

Base year for estimation

2021

Historical data

2017 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD million and CAGR from 2022 to 2030

Report coverage

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

Segments covered

Application, material, size, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Canada; U.K.; Germany; France; China; India; Japan; Brazil; South Africa

Key companies profiled

American Woodmark Corporation; Avanity Corporation; Bellaterra Home, LLC; Design Element Group, Inc.; Design House (DHI Corp.); Empire Industries, Inc.; Foremost Groups; JSG Oceana; Kohler Company; RSI Home Products, Inc.; Wilsonart International LLC; DuPont; Caesarstone.

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

 

Global Bathroom Vanities Market Segmentation

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the latest trends and opportunities in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the bathroom vanities market based on application, material, size, and region:

Global Bathroom Vanities Market Segmentation

  • Application Outlook (Revenue, USD Million, 2017 - 2030)

    • Residential

    • Non-Residential

  • Material Outlook (Revenue, USD Million, 2017 - 2030)

    • Stone

    • Ceramic

    • Glass

    • Wood

    • Metal

  • Size Outlook (Revenue, USD Million, 2017 - 2030)

    • 24 - 35 Inch

    • 38 - 47 Inch

    • 48 - 60 Inch

  • Regional Outlook (Revenue, USD Million, 2017 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

      • France

    • Asia Pacific

      • China

      • India

      • Japan

    • Central & South America

      • Brazil

    • Middle East & Africa (MEA)

      • South Africa

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