LONDON--(BUSINESS WIRE)--The bathroom accessories market size is poised to grow by USD 5.63 billion during 2020-2024, progressing at a CAGR of over 5% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
The growing awareness about sanitary and personal hygiene is one of the significant factors driving the bathroom accessories market growth. Diarrhea caused due to poor sanitary hygiene accounts for many deaths every year. Hence, with growing awareness about the importance of sanitary hygiene, consumers are increasingly adopting the best sanitary and personal hygiene practices, including keeping bathrooms clean and hygienic. Bathroom accessories such as washbasins, clean toilets, tissue holders, towel hangers, soap dispensers, towel rails, rings and hooks, toothbrush holders, shelves, trash cans, and paper towel machines are widely used in hygienic bathrooms. The demand for antimicrobial toilet seats is also increasing. These factors are expected to fuel the demand for bathroom accessories among various end-users, including healthcare centers, educational institutions, and offices during the forecast period.
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Report Highlights:
- The major bathroom accessories market growth came from the offline distribution channel segment. Consumers prefer buying bathroom accessories from signature stores and display showrooms for convenience. This is because they can choose bathroom accessories from a wide range of products based on the requirements and budgets from these stores. Offline shopping allows buyers to understand products better with the touch and feel aspect. As a result, the popularity of the offline segment is growing in the bathroom accessories market.
- APAC was the largest market for bathroom accessories in 2019, and the region will continue to offer maximum growth opportunities to market vendors during the forecast period. Factors such as increasing construction activities, rising concerns over personal hygiene, and the growth of the hospitality industry are contributing to the bathroom accessories market growth in this region.
- The global bathroom accessories market is fragmented. Bradley Corp., Duravit AG, Fortune Brands Home & Security Inc., HSIL Ltd., Kohler Co., LIXIL Group Corp., Masco Corp., Norcros Plc, Roca Sanitario SA, and Spectrum Brands Holdings Inc. are some of the major market participants. To help clients improve their market position, this bathroom accessories market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the bathroom accessories market 2020-2024 is expected to have Negative growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
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The Advent of Smart Bathrooms will be a Key Market Trend
The advent of smart bathrooms will be one of the critical bathroom accessories market trends over the next five years. Smart bathrooms are equipped with digital bathroom accessories, such as digital faucets and digital shower panels, that can sense voice and motion and function as per instructions. The bathroom accessories used in smart bathrooms can be connected with smartphones and smart home devices, such as Alexa and Google Home. Digital faucets are incorporated with digital temperature control settings, touchless technology, and infrared tap technology, which help in conserving water and energy. LCD displays in digital shower panels allow users to control the flow of water, play music, and set the lighting and water temperature.
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Bathroom Accessories Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist bathroom accessories market growth during the next five years
- Estimation of the bathroom accessories market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the bathroom accessories market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of bathroom accessories market vendors
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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- Preface
- Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Value chain analysis
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2019
- Market size and forecast 2019-2024
- Market outlook
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY DISTRIBUTION CHANNEL
- Market segmentation by distribution channel
- Comparison by distribution channel
- Offline - Market size and forecast 2019-2024
- Online - Market size and forecast 2019-2024
- Market opportunity by distribution channel
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 11: MARKET TRENDS
- Advent of smart bathrooms
- Growth of hospitality sector
- Increasing availability of towel warmers
PART 12: VENDOR LANDSCAPE
- Overview
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Bradley Corp.
- Duravit AG
- Fortune Brands Home & Security Inc.
- HSIL Ltd.
- Kohler Co.
- LIXIL Group Corp.
- Masco Corp.
- Norcros Plc
- Roca Sanitario SA
- Spectrum Brands Holdings Inc.
PART 14: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 15: EXPLORE TECHNAVIO
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