Vanity Market Size, Share & Industry Analysis By Product Type (Vanity Cabinet, Sink Vanity, Bathroom Vanity, Makeup Vanity, Others), By Material (Ceramic, Wood, Metal, Glass), By Application (Commercial, Residential) And Regional Forecast, 2024-2032

The rising number of home renovations and high consumer expenditure on residential infrastructure is expected to lead to the market demand for vanity products in the coming years. Vanity as furniture is a dressing table used for makeup tools and placing different personal care items. The vanity tables are associated with glamour and luxury. The vanity products are essentials for every residential home, whether in the dressing room, bathroom, or living room. These products come in different sizes and designs and can be placed according to the required space available.

Increasing product developments and high-quality craftsmanship to various vanity furniture are leading to substantial demand among the consumers. Modular furniture designs are gaining widespread demand in the market, and with the growing demand for unique home décor, the market demand is expected to boost further.

The growing consumer interest in luxury spending for homes is expected to raise the overall market growth of vanity products. This is attributable by the improvements in living standards which let to favoor the consumer's interest in renovating the interior spaces of homes, has increased the usage of vanity products for bathrooms and bedrooms. In addition, the consumers increasingly spending a considerable amount of their income on high-quality home furnishings, supporting the market growth. The rising disposable income of the global population has significantly helped the homeowners remodel and develop their interior infrastructure, has a vital contribution to the market demand for vanity products.

The vanity products are crafted with designable features and technology, which involves higher manufacturing costs. The high price involved with such products makes the purchasing process challenging for the low-income sections. As a result, the difficulty in affording such products restrain the market growth.

Key Market Driver -

Increase in luxury spending for home drives the market growth

Key Market Restraint -

The high cost of the product result to restrain the market growth

Key Players Covered:

Virtu USA, Masco Corporation, American Woodmark Corporation, Kohler Co., DuPont, MasterBrand Cabinets Inc., JSG OCEANA are key manufacturers operating in the market.

The global vanity market is segmented based on product type, material, application, and geography.

Based on product type, the market is segmented into a vanity cabinet, sink vanity, bathroom vanity, makeup vanity, and others. The vanity cabinet is estimated to lead the segment due to the growing usage in households and hotels owing to value-added features such as secure storage drawers, LED lighting, electric strips, and medical chests. They are also available in a wide range of style and functionality and serves multi-purpose benefits for stocking cosmetics and personal care essentials.

Based on the material segment, the market is segmented into ceramic, wood, metal, and glass. The wood segment is expected to witness dominant growth since wooden material is durable and can be used for longer. Moreover, it is cost-effective as compared to ceramic and glass. Most home furnishings are crafted from wooden material as they are eco-friendly and don't provide any health-related implications.  More consumers prefering wooden furnishings for hassle-free maintenance, and the wooden vanity products are sturdy. Wood is a solid material to take the load of countertop materials, and therefore the wood segment is expected to lead the segment.

By application, the market is segmented into residential and commercial. The residential segment is projected to lead the segmental share owing to the majority of consumption from households. This is due to homeowners willing to spend considerable amounts on improving the interior and purchasing stylish, quality luxurious furnishings for living rooms and bathrooms. Similarly, the growing residential construction projects are estimated to impact the segment's high demand substantially.

Regional Analysis:

By geography, the global vanity market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

The Asia Pacific region is projected to foresee a dominant share in the global market during 2021-28. The market's growth in this region is due to the rapid increase in industrialization in China, India, and Japan which has subsequently raised the overall demand for luxurious home furnishings, including vanity products for residential and commercial. Furthermore, the significant investments in real estate and housing projects have paved numerous growth opportunities for the vanity market. For instance, according to a property consultancy firm CBRE, The Asia Pacific commercial real estate investment volume increased by 10 % and totaled USD 26 billion in the first quarter of 2021. The investment sentiment continued to achieve strong growth over the period. The growth prospects in the construction sector have driven the market demand, and the market in the region is expected to grow rapidly in the coming period.

The North American region is also anticipated to offer noticeable growth opportunities due to prominent market manufacturers like Virtu USA, American Woodmark Corporation, and DuPont constantly coming up with new products. For instance, in 2019, Beauty technology brand Himirror has introduced two new products - HiMirror Mini Premium X and HiMirror Slide in the U.S market. The products' main features include personalized skincare analysis that factors in the skin, local weather, new, and the previous record of the user's skin.  The high net worth population is more interested in beautifying their interior, and enhancing the aesthetic appeal to suit their changing lifestyle trends has a significant contribution. Moreover, the region being penetrated by strong distribution channels and e-commerce, even in rural areas is uplifting such products' sales.

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Segmentation

Key Industry Developments:

• In March 2019, Kohler announced the investment of around USD20  Million to expand its manufacturing facilities at Hattiesburg, Mississippi. This move would also create more than 200 new jobs. This would help the market to grow as it provides the customers as well as suppliers with new technologies.


• In July 2021, Roca launched a new furniture collection, ‘Romea,’ a classic bathroom vanity with colonial style. It is available in widths of 600, 800, and 1000 mm with classic lines and delicate shapes that offer a stylish focal point and practical storage for the bathroom.