Luxury Sanitary Ware Market Analysis

Sanitary ware ought not to be classified as a ‘luxury item’ per se, as it is a basic necessity for every indoor residential, commercial, or public space. But with the rise of disposable income in previously-problematic emerging economies such as those in India and China, standards of living have witnessed substantial growth, offsetting the demand for luxury housewares and sanitary ware. Suffice it to say, people now possess more money and are more willing to spend it on making their bathrooms appear better.

To learn how our report can help you streamline your business, Request Sample Here

Global Luxury Sanitary Market is expected to register a lucrative growth rate evolving from the harmful impact of COVID 19. As a result, the global valuation of the Luxury Sanitary industry has reached over 2,418.39 million in 2020, which is expected to increase by over 50% in annual revenue generation to reach around USD 4,172.06 million in 2027. While cumulative growth opportunity is pointed out to be around USD 25 billion between 2021 and 2027.

Interesting Facts about Luxury Sanitary Ware Industry

• The average time spent by a person in the bathroom during his/her lifetime is whopping 92 days
• The oldest sanitary ware discovered dates back to 1500 BC
• Luxury Sanitary Wares are in great demand in the Middle East
• Around USD 100 per capita is spent by millionaires on sanitary were every year
• Ceramic is the most popular material for Luxury Sanitary Ware

Growth in Construction

The change has only been exacerbated by a global construction boost. In addition, accelerated demand in the residential, commercial, and industrial segments has encouraged sanitary ware manufacturers to pull up their socks and enhance production to meet the burgeoning demand.

Another key factor that has benefitted stakeholders is increased awareness and acceptance of sound hygiene practices, which, naturally, require proper sanitary ware.

The consumption of sanitary ware products is, as one would expect, higher in urban areas when compared to rural areas. Users prefer luxury sanitary ware due to its sturdiness, high resistance to environmental conditions, and low maintenance overall. When it comes to luxury sanitary ware, studies find that there is an inclination amongst people to buy luxury residential bathroom fittings, especially items made of ceramic stone. Though these are usually relatively expensive, they last much longer due to the top-quality materials used to manufacture them. Additionally, they look better and so add plenty of aesthetic value to a bathroom.

Households to Dominate the Luxury Sanitary Ware

Households and commercial usage are two primary application markets for Luxury Sanitary Ware. Altogether, these factors are further propelling the growth of the global luxury sanitary market. The trend will continue in the residential sector so long as real estate – influenced by technological advances, rapid urbanization, and changing lifestyles – across the major economies is thriving. Such is the case in India, China, Thailand, and Indonesia, where real estate is booming.

The Middle East Emerged as Most Attractive Regional Market

The Middle East has remained one of the most important destinations for luxury goods manufacturers. The huge inflow of Petrodollars in the regions has resulted in an upward trend in lifestyle and living standards in the region. This, in turn, resulted in the growing demand for Luxury Sanitary Ware across the region. Saudi Arabia, UAE, Oman, Qatar, etc., are leading the region's market for Luxury Sanitary Ware. North America, however, shows signs of sustained growth in the commercial and industrial sectors, with proactive government programs to make sanitary ware more affordable across the U.S. and Canada. While Europe being the leading regional market for Luxury Sanitary Ware, is expected to remain dominant in demand for Luxury Sanitary Ware over the forecast period. The Asia Pacific, on the other hand, is gaining importance in the global Luxury Sanitary Ware industry because of rising demand from China, Taiwan, Singapore, Japan, South Korea, Australia and India.

Sow Yet Steady Growth for Luxury Sanitary Ware

The luxury sanitary market is unique in that its demand is mostly stagnant and the same across the world. There are no cultural differences in how or how much people use the toilet, per se. That makes research and development much easier.

But that also means greater competition on a global scale. Major sanitary ware manufacturers like HSIL, Roca, and Villeroy & Boch have expanded their operations into different countries to enhance their market footprint. If not set up a business from scratch in new territories, they are collaborating with existing sanitary companies to boost production capacity and avoid the cost of having to set up manufacturing and distribution units there.

Growing Competition to Win the Luxury Sanitary Ware Market Space

Competition is tough, seeing as how the demand for sanitary ware will rarely ever come down. As such, there is greater pressure on luxury sanitary ware manufacturers to adopt environmentally-friendly practices, especially when procuring the raw materials needed for their products. Key players offering Luxury Sanitary Ware products include but are not limited to HSIL, Roca, Villeroy & Boch, Queo Bathrooms, Artize, Grotto, Jado, Maison Valentina, Dornbracht, TOTO, and VITRA.

Frequently asked questions about global Luxury Sanitary Ware industry