The Asia Pacific Residential Bathroom Cabinets Market would witness market growth of 9.4% CAGR during the forecast period (2024-2031).
The China market dominated the Asia Pacific Residential Bathroom Cabinets Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $12,650.3 million by 2031. The Japan market is registering a CAGR of 8.7% during (2024 - 2031). Additionally, The India market would showcase a CAGR of 10.1% during (2024 - 2031).
The growing trend of home renovation and remodeling projects has played a significant role in driving the adoption of residential bathroom cabinets. Homeowners are increasingly investing in upgrading and modernizing their bathrooms to enhance comfort, functionality, and aesthetics. As part of these renovation projects, bathroom cabinets are often replaced or upgraded to align with the updated design scheme and meet homeowners' changing storage needs.
Also, with the proliferation of personal care products, toiletries, and grooming essentials, homeowners seek effective storage solutions to keep their bathrooms organized and clutter-free. Bathroom cabinets provide a practical and efficient way to store and access these items, making them indispensable in residential settings. The adoption of cabinets is driven by the desire for enhanced storage capacity and organization in bathrooms, particularly in households with multiple occupants or limited storage space.
As disposable incomes rise, consumers in China tend to seek out higher-quality products for their homes, including bathroom cabinets. A growing inclination for long-lasting and visually beautiful furniture may be seen in the choice for cabinets constructed of sturdy materials like solid wood, stainless steel, or premium engineered wood. According to the State Council of the People's Republic of China, in the first three quarters of 2023, China's per capita disposable income was 29,398 yuan, representing a nominal annual growth of 6.3%. Distinctly, the urban per capita disposable income increased to 39,428 yuan, representing a nominal and real increase of 5.2 and 4.7%, respectively. As an illustration, the per capita income in rural areas increased to 15,705 yuan, or 7.6% in nominal terms and 7.3% in real ones. In conclusion, the increasing disposable income in the region is driving the market's growth.
Free Valuable Insights: The Global Residential Bathroom Cabinets Market is Predict to reach USD 135.1 Billion by 2031, at a CAGR of 9.0%
Based on Product, the market is segmented into Multi-Door, and Single Door. Based on Type, the market is segmented into Without Mirror, and With Mirror. Based on Material, the market is segmented into Wood, Metal, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
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