Bathtub Market to Reach $8.9 Bn, Globally, by 2027 at 4.3% CAGR: Allied Market Research.

Bathtub's ability to provide mind and body relaxation and many benefits associated with it, drive the growth of the global bathtub market.

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Allied Market Research

Aug 09, 2021, 09:00 ET

PORTLAND, Ore., Aug. 9, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Bathtub Market by Type (Free-Standing Bathtubs, Alcove Bathtubs, Drop-In Bathtubs, and Corner Bathtubs), Material (Marble, Acrylic, Ceramic, and Others) End User (Residential and Commercial), and Distribution Channel (Offline and Online): Global Opportunity Analysis and Industry Forecast 2021–2027." According to the report, the global bathtub industry generated $7.6 billion in 2019, and is estimated to reach $8.9 billion by 2027, witnessing a CAGR of 4.3% from 2021 to 2027.

Prime determinants of growth

Bathtub's ability to provide mind and body relaxation, many benefits associated with it, and its efficiency for body inflammation of the patients suffering from arthritis drive the growth of the global bathtub market. However, increase in number of bathtub accidents and increasing trend of walk-in showers hinder the market growth. On the other hand, rising urbanization presents new opportunities in the coming years.

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Covid-19 Scenario

The COVID-19 pandemic had a significant impact on the bathtub market. The offline segment witnessed closure of major distribution channels across the globe in an attempt to curb the spread of coronavirus.
Manufacturers are creating strategies to revive from the current situation by means of reshaping their sales channels as well as product innovation.

The standing bathtub segment to maintain its lead position during the forecast period

Based on type, the free standing bathtub segment held the highest share in 2020, holding more than one-third of the global bathtub market, and is expected to maintain its lead position in terms of revenue during the forecast period. This is due to the fact that they do not require wall support for installation. However, the corner bathtub segment is estimated to manifest the largest CAGR of 6.3% from 2021 to 2027, owing to its bubble and whirlpool features that are majorly used for relaxing.

The ceramic segment to maintain its leadership status during the forecast period

Based on material, the ceramic segment accounted for the highest share in 2019, contributing to more than one-third of the global bathtub market, and is estimated to maintain its leadership status during the forecast period. This is due to its property of appearance, as this bathtub can be designed with a look of smooth and glossy inside out of the tub. Also, the customer can also cover its outer surface with ceramic tiles according to the requirement and bathroom design which drives its demand growth. However, the acrylic segment is projected to portray the fastest CAGR of 5.5% from 2021 to 2027, owing to its versatility, as this material can get easily molded into different shapes and designs, which helps manufacturers to produce acrylic bathtubs with wide range of options.

North America to continue its dominant share by 2027

Based on region, North America accounted for the highest share in 2019, contributing to more than two-fifths of the global bathtub market, and is expected to continue its dominant share by 2027. U.S. home renovating owners have claimed that they majorly use bathroom for relaxing. Bathtubs and showers are some important bathroom features for the residents of the U.S. This factor drives the growth of the bathtub market in the province. However, Asia-Pacific is estimated to register the highest CAGR of 6.7% during the forecast period, owing to rapid urbanization, increase in trend of digitalization, emergence of modern retail channels. Furthermore, high disposable income and consumer awareness about importance of soaking in bathtubs are likely to boost the demand for the products in the region.

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Leading market players

Americh, Inc.
HSIL Limited
Jacuzzi Inc.
Jaquar Group
Kohler Co.
Ove Decors ULC
RAK Ceramics P.J.S.C.
Roca Sanitario
S.A., TOTO Ltd.
Villeroy & Boch AG.

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