Bathtub Market To Rise At Modest Growth With CAGR And Revenue Till 2030|Grand View Research, Inc.

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San Francisco, 02 April 2024: The Report Bathtub Market Size, Share & Trends Analysis Report By Type (Freestanding Bathtubs, Alcove Bathtubs, Drop-In Bathtubs, Corner Bathtubs), By Material, By End-user, By Shape, By Region, And Segment Forecasts, 2024 – 2030

The global bathtub market size is anticipated to reach USD 13.04 billion by 2030 and it is projected to grow at a CAGR of 4.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. A significant factor propelling the market growth lies in its ability to offer relaxation and rejuvenation for both the mind and body. Among the prevailing trends in the global market, detoxification stands out, as soaking in warm water aids in detoxifying the body, contributing to the overall health of vital organs like the liver, kidney, colon, and lungs. Owing to the growing awareness of the health benefits offered by using bathtubs is likely driving the market growth.

Moreover, bathtubs prove highly beneficial for individuals dealing with body inflammation caused by conditions like arthritis. Submerging the body in water creates hydrostatic pressure, alleviating the day-to-day pressures on sore joints, and providing relief from discomfort. In addition, changing consumer tastes are steering the global market towards increased sales, particularly for high-quality, personalized items. The market’s expansion is buoyed by a diverse range of bathroom offerings, alongside a rising appetite for top-tier sanitary ware, notably driven by the hospitality sector’s escalating demand for premium bathroom products.

While cast iron and acrylic were historically favored as traditional bathtub materials, there’s been a notable shift in market preference towards contemporary options like fiberglass and composites. This transformation is attributed to consumer inclinations leaning towards items offering enhanced durability, effortless installation, and minimal maintenance. Consequently, the market has experienced a surge in demand for these modern materials.

The increasing inclination towards eco-conscious and sustainable goods, driven by consumers’ pursuit of environmentally sustainable and economically viable options is anticipated the market growth. Moreover, a rise in the popularity of intelligent bathtubs equipped with functionalities such as voice-command operation, automated water filling, and temperature regulation, catering to evolving consumer preferences over the forecast period.

Key players in the market have adopted strategies such as, mergers & acquisitions, product launches, and collaborations to gain significant market share and cater to the needs of the consumers. The functionality of bathtubs extends to providing chromo therapy, aiding in the relaxation of both mind and body. Consequently, the anticipated increase in the adoption of smart bathtubs integrating artificial intelligence indicates a potential surge in popularity. These technological advancements are appealing to customers, likely contributing to a projected rise in bathtub demand within the forecast period.

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The global surge in the popularity of contemporary bathroom designs has led to a significant increase in bathroom renovations and home improvement projects in key economies like China, the U.S., and Japan is accelerating the market growth. According to Houzz Inc., a substantial majority of homeowners, around 62%, prioritize upgrades to their home systems, with a strong preference for enhancing their bathrooms. This trend is indicative of a rising demand for versatile, multifunctional bathrooms, coupled with an increasing focus on aesthetic appeal, which is anticipated to be a driving force behind market growth over the forecast period.

Bathtub Market Report Highlights

  • Based on the type, the alcove bathtubs segment dominated the market with a 37.54% revenue share in 2023, owing to growing demand from residential sector. The alcove bathtubs are majorly preferred among consumers who have limited bathroom space
  • Based on the material, the acrylic segment dominated the market in 2023 with the largest revenue share of 40.18%. Acrylic can be attributed to their resilience, simple maintenance requirements, and adaptability in design, making them a favored choice among consumers
  • Based on the end-user, the commercial bathtub segment is expected to grow at the fastest CAGR over the forecast period due to the rising number of hotels, and well centers across regions that have been significantly contributing to the demand for various commercial bathtub products
  • Europe is projected to emerge as a lucrative region for global market. This can be attributed to the growing trend of home renovation and remodeling projects has also contributed to the region’s market growth

The rise in preference among consumer for remodeling and retrofitting of existing bathrooms are expected to boost demand for bathtubs. Moreover, the rise in availability of numerous bathroom fittings through e-commerce platforms and company website is likely to drive customer preference towards online shopping and is expected to surge bathtub sales, favoring the market growth. However, the volatile nature of the residential construction industry and the lack of bathroom space may negatively impact market growth. Design for homes with multiple bathrooms is expected to offer significant market growth.

Increasing urbanization and a significant shift in consumer purchasing behavior have fueled a surge in the demand for bathroom furniture and fittings, encompassing items like bathtubs, cabinets, shelves, and storage solutions. To meet this burgeoning demand, manufacturers in this sector are actively pursuing advancements in raw materials, manufacturing techniques, and smart technology integration. These initiatives are aimed at meeting evolving consumer needs, presenting lucrative prospects for growth and expansion for key industry players. Manufacturers’ ongoing focus on innovating and enhancing product offerings is poised to be a driving factor in the market’s continual expansion.

Moreover, rise in residential construction across developing economies such as China, India, and Indonesia is likely driving the demand for bathtubs. According to the World Economic Forum, around 200,000 people moved to urban areas daily for affordable housing and infrastructure. In addition, according to International Organization for Migration (IOM), approximately 281 million individuals from various countries migrated internationally in 2020, making up 3.6% of the world’s population. This change is likely to boost the development of residential spaces globally, thereby offering immense opportunities for the market growth over the forecast period.

Government initiatives aimed at providing advanced and sustainable infrastructure for people with disabilities in developed economies like the U.S., including the elderly population, have been propelling the construction industry, which widens the application scope for bathroom products like bathtubs. For instance, the Americans with Disabilities Act (ADA) is a civil rights law established at the federal level, which prohibits discrimination against people with disabilities. The law specifies the layout, design, and spacing of commercial bathrooms, which includes features for desired heights for grab bars, bathtubs, dispensers, sinks, and toilets. These compliance standards regulate the commercial bathroom design to ensure accessibility to everyone, including the elderly, which is accelerating the market growth.

Bathtub Market Report Scope 

Report Attribute Details
Market size value in 2024 USD 10.26 billion
Revenue forecast in 2030 USD 13.04 billion
Growth Rate CAGR of 4.1% from 2024 to 2030
Base year for estimation 2023
Historical data 2018 – 2022
Forecast period 2024 – 2030

Residential bathrooms often include bathtubs, offering a dedicated space for relaxation, personal hygiene, and therapeutic use. Available in diverse shapes, sizes, and materials like acrylic, fiberglass, cast iron, and stone, bathtubs cater to varied consumer preferences. The global market for bathtubs has experienced consistent growth, propelled by factors like rising disposable incomes, evolving lifestyles, and a heightened desire for indulgent bathing experiences.

List of Key Players of the Bathtub Market

  • Kohler Co.
  • TOTO LTD
  • American Standard
  • Duravit AG
  • Jacuzzi Inc.
  • Roca Sanitario, S.A.U.
  • Delta Faucet Company
  • American Bath Group
  • Villeroy & Boch AG
  • BAINULTRA

 

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