According to a new report published by Allied Market Research, titled, The New Zealand bathroom products market size was valued at $358.5 million in 2020, and is estimated to reach $772.2 million by 2030, registering a CAGR of 8.0% from 2021 to 2030. Faucets & Showers segment helds the major share of 29.7% in 2020.
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Bathroom products have become essential bathroom accessories used in routine life. Bathroom products such as faucets, showers, bathtubs, and basins are commonly made up of ceramic, stone, glass, wood, metal, and other materials. Bathroom products accessories are available in different designs and styles that are used for different purposes and with convenience of people.
Driven by modernization and technology, the New Zealand bathroom products market is at the verge of expansion. The New Zealand market is disrupted throughout the value chain from sourcing to manufacturing, procurement, transportation, distribution, warehousing & inventory, advertising & marketing, and after sales services, which are all evolving, not just in bathroom products but throughout the broader bathroom vanity market.
Lifestyle of consumers, especially in urban areas, is changing significantly, owing to increase in standard of living and inspiration to experience luxury lifestyle. Bathroom products such as toiletries, soap dispensers, faucets & showers, and basin & bathtubs are now becoming integral to modern lifestyles. Furthermore, demand for bathroom products has increased in the recent past as consumers now desire to impart a luxurious and aesthetic value to their bathrooms.
According to New Zealand bathroom products market trends, on the basis of type, the toiletries segment has highest share in product market. Awareness and consciousness of population regarding cleanliness and sanitation is the major factor that boosts the New Zealand bathroom products market growth.
Presently, owing to the rise in cases of the deadly coronavirus, washing hands and maintain hygiene and cleanliness in public areas is of utmost importance and has also been mandated by the WHO as basic means to avoid the spread of the diseases. Hence, demand for sanitization products such as hand washes, which are basically liquid soaps has increased, which, in turn, propels the market growth.
On the basis of application, the commercial segment was the significant contributor to the market, with $91.8 million in 2020, and is estimated to reach $208.3 million by 2030, at a CAGR of 8.5% during the forecast period. The segment witnessed a major growth rate, owing to the growing tourism and hospitality sector. Expansions of the hotel & quick services restaurants are significant users of bathroom products. Furthermore, luxury hotels are major buyers for luxury price point bathroom products, which is expected to support growth of the New Zealand bathroom products market.
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Players operating in the New Zealand bathroom products industry have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market.
The key players profiled in this report include:
• Atherna Bathrooms
• Felton Industries Ltd
• Foreno Tapware
• GWA Group Limited
• Heirloom International Ltd.
• Kohler Co.
• NZ Glass
• Robertson Bathware
• Sussex Taps
• The Procter And Gamble Company.
Key Findings Of The Study:
○ The New Zealand bathroom products market was valued at $358.5 million in 2020, and is estimated to reach $772.2 million by 2030, registering a CAGR of 8.0% from 2021 to 2030.
○ In 2020, depending on application, the commercial segment was valued at $91.8 million, accounting for 25.6% of the New Zealand bathroom products market share.
○ By price point, the premium segment is estimated to witness considerable growth, registering a CAGR of 8.8% during the forecast period.
○ By distribution channel, the B2B segment is estimated to witness considerable growth, registering a CAGR of 7.8% during the forecast period.
○ In 2020, depending on type, the basin & bathtubs segment was valued at $99.8 million, accounting for 27.8% of the market share.
Related Reports:
○ Bathroom Mirror Cabinets Market registering a CAGR of 5.6% from 2019 to 202
○ Bathtub Market size is expected to reach $8.9 billion by 2027
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