New Zealand Bathroom Products Market

The New Zealand bathroom products market was valued at $358.5 million in 2020, and is projected to reach $772.2 million by 2030, registering a CAGR of 8.0%.         

With an unprecedented COVID-19 pandemic, demand for bathroom products in New Zealand has declined during the COVID-19 period, owing to closures of production activities, disrupted transport activities and lack of workforces’ cafes. Furthermore, the demand Soap Dispensers, Faucets & Showers and Basin & Bathtubs from commercial sector including hotels, restaurants and commercial offices and building was decreased dynamically thus, the in 2020, the New Zealand bathroom products market was decreased.

 The New Zealand bathroom products market has exhibited significant growth in the last few years. These products have gained a huge prominence in the day to day life. These products include Toiletries, Soap Dispensers, Faucets & Showers, Basin & Bathtubs and Others. Bathroom accessories are made up of brass, metals, steel, acrylic plastic, glass, and porcelain and have a high demand in the residential and commercial sectors, as increase in urbanization led to change in economic activities and growth of infrastructures such as hospitals, residential areas, educational institutes, and corporate offices. This has a positive impact on urbanization which boosts the growth of the market.

The New Zealand bathroom products market size is expected to grow, owing to emergence of concept bathroom. Engaged stakeholders in the industry are offering a one-stop shop solution for all bathroom vanity requirements, owing to increase in popularity of concept washrooms. Concept bathrooms have gained wide traction in past few years; consequently, importance of in-store experience has increased by many folds. Furthermore, product development and innovation in the bathroom products is expected garner the growth of the new Zealand bathroom products market during the forecast period.   Bathtub manufacturers are coming up with many new technologies installed in the bathtub along with innovative designs. Recently, a smart bathtub has been launched by Kohler, which can be controlled via a mobile application. Primary key feature of bathtubs is that customers does not require to touch bathtubs for water supply and other pre-bathing actions.

According to New Zealand Bathroom Products market trends, on the basis of price point, the Luxury segment was the significant contributor to the market, with $61.4 million in 2020, and is estimated to reach $132.9 million by 2030, at a CAGR of 8.0% during the forecast period. In recent years, overseas buyers, particularly from the U.S., UK, and China, have shown considerable amount of interest in New Zealand luxury properties as these luxury properties appeal many high-end vendors and buyers for its quality of life, remote beauty, and perceived level of safety as compared to the rest of the world. Thus, increase in demand for luxury properties is expected to forward New Zealand bathroom products market growth of the through luxury segment.

On the basis of application, the residential segment was the significant contributor to the market, with $266.7 million in 2020, and is estimated to reach $563.9 million by 2030, at a CAGR of 7.8% during the forecast period. Development in residential sector rapid growth of metro cities are the factors anticipated to change the lifestyle and living standards of the population across the New Zealand. This is expected to fuel the market growth. Moreover, the online shopping trend is expected to boost the demand for bathroom products through online channels which is anticipated to foster the New Zealand bathroom products market demand.

According to New Zealand Bathroom Products market opportunity, On the basis of distribution channel, the B2B segment was the considerable contributor to the New Zealand bathroom products market and is estimated to reach $175.1 million by 2030, at a CAGR of 8.7% during the forecast period. Corporate offices and commercial complexes are opening their facilities, and to ensure safety of their employees, they are equipping their facilities with soap dispensers. In addition, retail outlets, shopping malls and cinema halls are resuming their facilities where disinfectants are used to maintain hygiene and cleanliness. Furthermore, the sales of commercial complexes are rising rapidly owing to lower interests rates for business loan. Booking for retail stores, shopping malls, hospitals and clinics are at high pace, which in turn boost the demand soap dispensers, faucets & showers, and basin & bathtubs.

On the basis of type, the soap dispensers segment has been growing at highest CAGR growth rate during the New Zealand bathroom products market forecast period. Demand for soap dispensers increased during the COVID-19 period, owing to rise in hygiene concerns and increase in purchasing power of middle-class income groups. Furthermore, government promotions regarding washing hands as a primary and important preventive measure to avoid infection of corona virus propels growth of the market. Touchless or automatic soap dispensers have gained major popularity of commercial sectors such as government administrative building, schools, and colleges. Thus, above mentioned factors are likely to spur the New Zeeland bathroom products market growth.

Players operating in the New Zealand bathroom products market 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, and The Procter And Gamble Company.

Key Benefits For Stakeholders

• The report provides a quantitative analysis of the current trends, estimations, and dynamics of the market size from 2020–2030 to identify the prevailing opportunities.
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
• In-depth analysis and the market size and segmentation assist to determine the prevailing market opportunities.
• The major countries in each region are mapped according to their revenue contribution to the New Zealand Bathroom Products market share.
• The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the New Zealand Bathroom Products industry.

 New Zealand Bathroom Products Market Report Highlights