According to the research report titled ‘Global Bathroom Accessories Market Size study, By Product (Towel Rack/Ring, Hook, Paper Holder and Grab Bars) and Regional Forecasts 2021-2027’, available with Market Study Report, global bathroom accessories market was valued at USD 16.85 billion in 2020 and is expected to record a CAGR of 9.9% over 2021-2027, subsequently reaching USD 32.63 billion by the end of the assessment period.
 

Global bathroom accessories market growth is primarily driven by rapid urbanization, growing construction and infrastructure sector, and rising nuclear families. Besides, government support for construction and urbanization is enhancing the overall market outlook.
 

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The World Economic Forum cites that the construction industry is predicted to reach USD 15 trillion in revenue by 2025. The growth in the construction industry has boosted demand for toiletries and other bathroom accessories. According to the United Nations, 55% of the total population currently resides in urban areas, which is anticipated to rise to 68% by 2050. The rapid expansion of urban residential and commercial infrastructure is projected to significantly contribute to the market development.
 

For the unaware, bathroom accessories are objects exclusively designed for use in a bathroom like towel racks, tissue holders, soap dishes, and others. They usually feature sturdy, stylish finishes, and add to the bathroom's utility as well as looks.
 

Speaking of factors restraining the industry expansion, less spacious bathrooms in developing economies is likely to act as a major challenge for businesses in this domain.
 

Coming to regional front, Latin America, North America, Asia Pacific, and Europe are the leading contributors to the overall market development. Of these, North America currently leads worldwide bathroom accessories industry share, owing to rising per capita income and surging demand from corporates and households.
 

Meanwhile, Asia Pacific industry is projected to amass modest revenues through 2027, creditable to increasing nuclear families, growing urban population, along with escalating construction output, and rising disposable income in the region.
 

Key players in global bathroom accessories marketplace are ASI American Specialties Inc., Bolina Holding Co. Ltd., Monarch Bath Pvt. Ltd., Gerber Plumbing Fixtures LLC, Hansgrohe Group, Moen Incorporated, Roca Sanitario S.A., Kohler Co., Toto Ltd., and Lixil Group Corporation.