Bath Furnishing Market To Hit Value $47.0 Billion By 2025 |Grand View Research, Inc.



The global bath furnishing market size is expected to reach USD 47.0 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 3.2% over the forecast period. The market is driven by consumer concerns over healthy and hygienic products, especially in the bathroom accessories segment. Moreover, drastically changes in purchasing power of consumers in developing countries such as China and Japan have fueled the demand over the forecast period.
The market is driven by growth of the wellness and hospitality sectors in Asia and South America, along with rise in sales of furniture products used in the industry. Moreover, the growth is attributed to growing middle and high class population leading to a rise in disposable income of consumers. Moreover, growing purchasing power of consumers leading to adoption of premium products and inclination towards decorative and smart products are anticipated to drive the demand in market.
Increasing number of product launches in bath fittings such as faucets, shower heads, and mirrors in industry due to growing demand for specialty products is a key driving factor. Moreover, impact of e-commerce channels, presence of a number of furniture shops and DIY shops, cost effectiveness, and health conscious consumers provide a lucrative growth opportunity for the global market.
Growing demand for interior designing techniques and products in the home decor market will increase the growth of global market. Moreover, increasing focus of leading players on decorative mirrors and fittings products will fuel its demand in the market. Companies are launching products and expanding their capacity in order to gain a major share in the market. The market is recognized by a few initiatives such as mergers and acquisitions, online sales, limited extension, and developments endeavored by the key players in the business such as Toto Ltd.; Kohler Co.; GROHE AMERICA, INC.; Ideal Standard International; Hansgrohe; Moen Incorporated; Roca Sanitario; S.A.; and Villeroy & Boch Group
North America is anticipated to witness significant growth due to increasing consumer awareness regarding hygienic product categories, along with growing product launches in bath furnishing market. Moreover, Asia Pacific is expected to witness a rise in sales of bathroom fittings due to growth of the construction industry and increasing demand for products over forecast period.
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https://www.grandviewresearch.com/industry-analysis/bath-furnishing-market/request/rs4
Further key findings from the study suggest:
·         By product, furniture is projected to ascend at a CAGR of 2.8% over the forecast period
·         The offline channel dominated the global market with a share of 87.4% in 2018
·         North America dominated the global bath furnishing market in 2018 and accounted for 36.4% share of the overall revenue. This trend is projected to continue over the next few years
·         Booming hospitality industry on account of growth of the tourism sector mainly in developing countries is further expected to propel the market growth
·         The market in Asia Pacific is anticipated to witness significant growth due to increasing disposable income in India, South Korea, China, and Japan
·         The industry is highly competitive in nature with the main players including Toto Ltd.; Kohler Co.; GROHE AMERICA, INC.; and Ideal Standard International
·         Various manufacturers are concentrating on new product launches, capacity expansion, and technological innovation to estimate existing and future demand patterns from upcoming product segments.
Grand View Research has segmented the global bath furnishing market on the basis of product, distribution channel, and region:
Bath Furnishing Product Outlook (Revenue, USD Billion, 2015 - 2025)
·         Furniture
·         Fittings
·         Others
Bath Furnishing Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
·         Online
·         Offline
Rising demand for the bathroom products in China, India, and Japan due to 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 emergence of decorative and premium products in the market.

Browse Press Release of this report:                                
https://www.grandviewresearch.com/press-release/global-bath-furnishing-market
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. Growth of the sector is analyzed by use of innovative bathroom products by consumers such as faucets and cabinets in market.
The industry growth is also attributed to booming tourism sector in the 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, shower heads, decorative mirrors, and carpets have initiated growth of the bath furnishing market.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


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