The global bathroom accessories market is expected to reach USD 29.51 billion by the end of 2025. Positive outlook of the residential sector in emerging economies such as China and India coupled with increasing middle-class population as a result of higher disposable income is expected to support demand of bathroom accessories over the coming years. According to the National Bureau of Statistics of China, in 2017, the total investment in real estate was around USD 1,628.31 billion out of which, the investment for the residential buildings was around USD 1,114.44 billion which represents an increase of around 9.5% as compared to 2016.
Gains in the hospitality and tourism sectors are expected to remain favorable trends for the market. According to the International Hotel & Restaurant Association (IH&RA), the hospitality industry contributes around USD 950 billion each year to the global economy. According to the report “European Tourism 2017-Trends and Prospects” published by European Travel Commission, in 2017, 671 million international tourists visited Europe, which was around 8.0% more arrivals as compared to the previous year.
In addition, according to the data published by the European Union, Europe witnessed a 33.3% rise is tourist visiting hotels and apartment buildings from 2008 to 2018. The significant rise of the hotel industry in the region is expected to fuel the demand for bathroom accessories over the coming years.
Over the past few years, devices such as automatic paper towel dispensers have gained popularity. It is a known fact that germs have the potential to spread from one individual to another by physically touching objects including, handrails and close door knobs. Automatic paper towel dispenser device consists of a motion sensor, which is installed on it and operates whenever motion is detected in range. This system helps in encouraging a sanitary environment for the bathroom.
According to a report ‘European Construction Sector Observatory’ published by the European Commission, it is expected that 3.6 million people will migrate to Germany by the end of 2020. The projection is expected to result in the addition of around 350,000 residential houses on an annual basis which in turn, will promote the demand for bathroom accessories over the forecast period.
Asia Pacific market demand is expected to reach USD 11.26 billion by the end of 2025. Over the past few years, governments of developing countries such as India have been focusing on sanitation development at the domestic level. According to UN estimates, 1.1 billion people in the world has no proper access to sanitation. In 2015, the Government of India initiated the “Swachh Bharat Mission” under which the government will promote and provide incentives for the construction of toilets in the country.
As per the data released by the Union Rural Development Ministry, the government has planned to invest around USD 30 billion for the construction of about 90 million toilets in the country from 2015 to 2020. These initiatives are expected to increase the demand for bathroom accessories in India over the coming years.
Product innovation along with the establishment of strategic partnerships with real estate companies is expected to remain a key growth strategy in the near future. Also, the growth of the travel & tourism industry is expected to have a positive impact on the demand for bathroom accessories in the near future. Some of the key players in the market include Kohler Co., Roca Sanitario, S.A., and LIXIL Group Corporation.
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Hexa Research has segmented the global bathroom accessories market report based on type, and region:-
Segmentation by Product Type
• Towel Rack/Ring
• Paper Holder
• Grab Bars
Segmentation by region
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
Key countries market
Key players analyzed:
• LIXIL Group Corporation
• TOTO LTD
• Kohler Co.
• Roca Sanitario, S.A.
• Moen Incorporated
• Monarch Bath Pvt. Ltd.
• Bolina Holding Co., Ltd.