The global Bathroom Vanities market is forecast to reach USD 48.65 Billion by 2030, according to a new report by Reports and Data. The market is witnessing a surge in demand due to the growing trend of bath utilities and multi-utility home décor units. Rising demand for more functional bathrooms is expected to increase the number of installations of specialized countertops that contain sinks.

Increasing house completion rates in the developed countries is expected to drive the demand for the market. Growing investments in the retrofitting and remodeling of existing bathrooms in the developed and developing countries will boost the demand for the market. An increase in disposable incomes, especially in the developing countries, and various promotional activities undertaken by the real-estate sector, are also expected to lead to a surge in the demand of the market.

Migration from rural to urban areas and the booming global population have led to smaller bathroom spaces in major countries. It is expected that this will hamper the growth of the bathroom vanities market. The high cost of materials is another restraint for the market, which can lead to a slower growth rate in the future. Health concerns related to MDF manufacture can also prove to be a hindrance to the market.

The COVID-19 impact:

The COVID-19 Pandemic has led to lockdowns in major countries all around the world. Most of the industries are not operating in the current situation. Real Estate, as well as construction industries, have taken a hit because of this. This has led to the demand for bathroom vanities going down. In the current scenario, most of the people are only purchasing the essential items, which means that the bathroom vanities are not on the consideration list for consumers as of now. Also, the manufacturers involved in the market are not operating currently, which has led to a decline from the supply side too. Manufacturers of the market are presently engaged in innovations for their products so that when the market is operational again, they can capture a large market share. This will lead to an increase in the market size, once the industries are functional again.

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Competitive Landscape:

The research report offers details about leading companies in the global Bathroom Vanities market along with global position, financial standing, license agreement, products and services portfolio and revenue contribution of each market player. Key players in the market are focusing on adopting various strategies such as mergers and acquisition, business expansion plans, new product launches, partnerships, collaborations, joint ventures to enhance their product base and gain robust footing in the market.

Market Dynamics:

The global Bathroom Vanities market is rapidly gaining traction over the recent years and is expected to register robust revenue growth throughout the forecast period till 2027. The consumer goods sector is rapidly growing due to factors such as paradigm shift in consumer preferences, rising demand for convenience and ongoing COVID-19 pandemic. Rapid revenue growth is attributed to factors such as rising disposable income, improvements in standard of living, and increasing preference for organic food and plant based food products. Moreover, rising health conscious population, increasing preference for online shopping and doorstep deliveries and growing inclination of veganism in several countries across the globe and increasing focus on developing novel products to cater to consumer demand are other factors expected to support market growth going ahead.

Some of the Leading Market Players Are Listed Below:

·       Kohler Co.,

·       Faucet Depot,

·       Foremost Groups, Inc.,

·       Empire Industries,

·       Design Elements Group,

·       Bellaterra Home, LLC,

·       Avanity Corporation

·       Others

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Market Segmentation:

By Material Outlook 

• Metal
• Wood
• Glass
• Ceramic
• Stone

By Size Outlook

• 24-35 inches
• 38-47 inches
• 48-60 inches

By Application Outlook

• Residential
• Non-Residential

For comprehensive coverage, the report discusses growth prospects, opportunities, and challenges. The market report considers various key factors across the leading regions.

Bathroom Vanities Market Segmentation based on Regions:

·       North America (U.S., Canada, Mexico)

·       Europe (Germany, U.K., France, Italy, Spain, Benelux, Rest of Europe)

·       Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)

·       Latin America (Brazil, Rest of Latin America)

·       Middle East & Africa (Saudi Arabia, UAE, South Africa, Rest of Middle East & Africa)

Key Features of the global Bathroom Vanities Market:

·       The report offers detailed estimations at the regional level with manufacturers, consumption, sales and import/export dynamics.

·       The report provides accurate details related of the manufacturers/vendors in the market, company overview, pricing analysis, financial standing, product portfolio, and gross profit of leading companies.

·       Company profiling with prevalent expansion strategies, revenue generation, and recent developments.

·       Optimum strategic initiatives for new players in the market.

·       Manufacturing processes, suppliers, cost, rates of production and consumption, transport mode and cost structuring, and value chain analysis.

·       The study also includes supply chain trends, including elaborate descriptions of the latest technological development

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