According to a new report published by Allied Market Research, titled, “Australia Bathroom Products Market by Type, Price Point, Application and Distribution Channel: Opportunity Analysis and Industry Forecast, 2021–2030,”
The Australia bathroom products market size was valued at $2,471.1 million in 2020, and is projected to reach $4,536.2 million by 2030, registering a CAGR of 6.3%.
Bathroom products have become essential bathroom accessories that are used in routine life. Bathroom products such as faucets, showers, bathtubs, cabinet mirrors, among others are commonly made up of ceramic, stone, glass, wood, metal, and other materials. Bathroom product accessories are available in different designs and styles that are used for different purposes and with convenience for people. Bathroom products market has shown significant growth in last few years as it is majorly used by the construction industry for providing proper sanitation facilities to people in residential homes. Key players keep launching new and innovative products that help to enhance the beauty of bathrooms. Rise in use of bathroom products accessories by the construction industry and innovation in bathroom products at short intervals is a major factor that boosts theAustralia bathroom products market growth and is expected to rise during the forecast period.
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The continuous demand for bathroom products accessories owing to new construction of residential apartments, development in commercial spaces, renovation of houses, and replacement of old bathroom products are some of the key reasons that boost the growth of the bathroom products market. Owing to the outbreak of COVID-19 pandemic, the home improvement and renovation industry in Australia is experiencing a significant boost. According to a survey by the Australia Houzz & Home Renovation Trends, consumers in the country are spending a part of their vacation money on their homes.
Moreover, increase in household units, rise in urbanization, and development of smart/electronic bathroom products are the major factors driving the bathroom products market growth. Moreover, consumer preference has shifted toward smart home technologies including smart faucets and electronic appliances, which is further expected to boost the market growth.
According to the Australia bathroom products market analysis, the Australia bathroom products market is segmented based on price point, application, distribution channel, and type. On the basis of price point, the market is categorized into standard, premium, and luxury. According to application, the Australia bathroom products market is fragmented into commercial and residential. Based on the distribution channel, the market is bifurcated into B2B, and B2C. The type of bathroom products considered in the report are toiletries, soap dispensers, faucets & showers, basin & bathtubs, and others.
Based on price point, the standard is the dominating segment, owing to high demand for bathroom products from B2C channel. The average prices considered for this segment for bathroom faucets range from $60-$75, $170-$210 for showers, $80-$100 for soap dispenser, and $170-$190 for the basin & bathtubs.
Residential application segment held a major share in the market owing to widespread usage of bathroom products in homes. Commercial segment is expected to witness a major growth rate, owing to rise in tourism and hospitality sector.
Based on type, the faucets & showers segment held the major Australia bathroom products market share in 2020 and is likely to remain dominant throughout the Australia bathroom products market forecast period. The rise of nuclear families has resulted in fewer extended family living arrangements and gradual increase in household units. The demand for faucets & showers is expected to witness substantial rise with the advent of new residential and commercial establishments.
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The prominent Australia bathroom products industry players include Decina Bathroomware, Felton Industries Ltd, Gessi SPA, GWA Group Limited, Kohler Co., Masco Corporation, Robertson Bathware, Sussex Taps, The Procter And Gamble Company, and Tribata.
Key Findings Of The Study
- By price point, the standard segment held the highest market share, accounting for 61.2% of the Australia bathroom products market in 2020.
- By application, the residential segment held a major market share of 71.5% in 2020.
- Based on type, faucets & showers segment held a major share of 31.4% in 2020.