USD 336.37 Billion
Cold Plunge Tub Market Size, Share, Growth Analysis, By Application(Commercial and residential), By Product Type(In-ground cold plunge tubs and above-ground cold plunge tubs), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25P2008 |
Region:
Global |
Published Date: July, 2024
Pages:
223
|Tables:
59
|Figures:
75
Cold Plunge Tub Market Insights
Global Cold Plunge Tub Market size was valued at USD 336.37 Billion in 2022 and is poised to grow from USD 350.83 Billion in 2023 to USD 491.33 Billion by 2031, at a CAGR of 4.30% during the forecast period (2024-2031).
The global cold plunge tub market growth is driven by the rising popularity of hydrotherapy and the growing awareness of the health benefits associated with cold water therapy. Cold plunge tubs are designed to provide a refreshing and invigorating experience that helps to reduce inflammation, improve circulation, and relieve sore muscles. The primary purpose of the global market is to offer a convenient and effective way to incorporate cold water therapy into daily routines. With the increasing focus on health and wellness, many individuals are looking for natural ways to enhance their overall well-being, and cold plunge tubs offer an easy and enjoyable way to achieve this. The growing awareness of the benefits of cold-water therapy drives demand for these products. Additionally, the increasing availability of cold plunge tubs in fitness centers, spas, and other public facilities is making them more accessible to a broader audience.
However, some restraints may hinder the growth of the market. For instance, the high cost associated with installing and maintaining cold plunge tubs may limit their adoption in some markets. Moreover, the limited availability of these products in certain regions may also limit their growth potential. Despite these challenges, the market is poised for significant growth in the coming years, with several key trends driving demand. For instance, integrating technology into cold plunge tubs enables manufacturers to offer more advanced and customizable products that can cater to the specific needs of individual users. Additionally, the rise of home-based hydrotherapy solutions is opening up new opportunities for manufacturers to expand their product offerings.
US Cold Plunge Tub Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Commercial
Fastest Growth
Commercial
Growth Rate
4.30% CAGR
Global Cold Plunge Tub Market 2022-2030 ($ Bn)
Country Share for North America Region- 2022 (%)
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Cold Plunge Tub Market Segmental Analysis
Cold Plunge Tub Market is segmented on the basis of application, product type, and region. By application, the Cold Plunge Tub Market is segmented into commercial and residential. By product type, Cold Plunge Tub Market is segmented into in-ground cold plunge tubs and above-ground cold plunge tubs. By region, the Cold Plunge Tub Market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Cold Plunge Tub Market Analysis by Application
The commercial application segment dominated the global cold plunge tub market. This segment encompasses cold-water tubs in various commercial establishments such as spas, sports training centers, gyms, and other activity premises. The increasing adoption of cold-water therapy among these commercial premises is a key driver of the segment's growth. Hydrotherapy has become increasingly important in treating various illnesses, including high blood pressure, cardiovascular diseases, circulatory issues, and chronic pain. As consumers become more aware of the benefits of hydrotherapy, more physical therapy offices, hospitals, and fitness facilities are equipping specialized hydrotherapy treatments to address a range of medical issues. This trend is expected to drive the commercial applications of cold-water plunge tubs in the coming years. In addition, modern customers prefer less invasive procedures to address orthopedic conditions such as arthritis, low back pain, hand pain, and sports-related injuries. wellness centers, Private hospitals, and clinics are emphasizing hydrotherapy and water therapy as a form of treatment, leading to expanding markets. As a result, the demand for cold plunge tubs is expected to witness exponential growth in the commercial sector.
On the other hand, the residential application segment accounted for a revenue share of around 20% in 2021. This is owing to the rising awareness about the benefits of cold-water baths. Consumers are also renovating their homes to add cold water bathtubs in response to increased knowledge of the benefits of regular exercise. The desire for luxurious houses and rental properties equipped with bath tubs and swimming pools has also stimulated the industry in recent years.
Cold Plunge Tub Market Analysis by Product Type
In-ground cold plunge tubs are typically more expensive and require more effort and resources to install, while above-ground cold plunge tubs are generally more affordable and offer more flexibility in terms of placement and usage.
In terms of the fastest growing segment, it is expected that above-ground cold plunge tubs will experience significant growth due to the increasing popularity of portable and convenient cold water therapy options. With more people looking for accessible ways to incorporate hydrotherapy into their daily routine, above-ground cold plunge tubs provide a convenient solution that can be easily transported and used in a variety of settings. Furthermore, the demand for above-ground cold plunge tubs is likely to increase as more commercial establishments, such as hotels and spas, seek to offer their customers hydrotherapy services without needing permanent installations. The portability and ease of use of above-ground cold plunge tubs make them attractive for such establishments.
Global Cold Plunge Tub Market Size By Application 2022 (%)
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Cold Plunge Tub Market Regional Insights
In 2021, North America dominated the global cold plunge tub market due to the increasing demand for cold water baths among athletes and sports persons. The private health and wellness sector, spas, and fitness sectors have also witnessed rising investments, which is expected to provide lucrative opportunities for market players. For instance, in Baltimore, the city council announced the construction of a new fitness center, including plunge pools, lap pools, and an open fitness area, with funding of USD 23.1 million aimed at improving public health. Hydrotherapy and water therapy are also gaining popularity as less invasive therapies for addressing orthopedic problems, sports-related injuries, and low back pain, which further propels the regional growth.
On the other hand, Asia Pacific is expected to register the fastest CAGR during the forecast period due to the increased usage of cold plunge tubs by resorts, gyms, and spas. The expanding population of countries like China, India, Australia, and Japan, and the fast-developing health and wellness sector, will open up new possibilities for the industry in the region. Manufacturers' focus on employing less expensive raw material substitutes and launching new product launches in the region is expected to overcome any cost limitations and bolster the market growth.
Global Cold Plunge Tub Market Size By Geography, 2022-2030
- Largest
- Fastest
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Cold Plunge Tub Market Dynamics
Cold Plunge Tub Market Drivers
Increasing popularity of hydrotherapy
- The use of cold water for therapeutic purposes has gained popularity in recent years due to its ability to improve circulation, reduce inflammation, and relieve muscle soreness. This has led to an increase in the demand for cold plunge tubs specifically designed for cold water therapy.
Growing health and wellness trend
- The rising awareness and focus on health and wellness among consumers drives the demand for products supporting a healthy lifestyle. Cold plunge tubs are becoming popular among health enthusiasts, athletes, and individuals looking to improve their overall well-being.
Cold Plunge Tub Market Restraints
High Cost
- One main constraint is the high cost of cold plunge tubs compared to traditional hot tubs. Cold plunge tubs require specialized equipment to keep the water at low temperatures, which increases their cost. As a result, they are often viewed as a luxury item that only a small segment of the population can afford.
Limited Awareness
- Another restraint is the limited awareness of the benefits of cold plunge therapy. While the use of cold water for recovery and healing has been known for centuries, it is still a relatively new concept for many people. As a result, there is a lack of understanding and education about the benefits of cold plunge therapy, which may limit demand for these products.
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Cold Plunge Tub Market Competitive Landscape
The Global Cold Plunge Tub Market is highly competitive, with several established players. Some of the major players operating in the market are constantly engaged in product innovation and development, expansion of their distribution network, strategic partnerships and collaboration, and mergers and acquisition to strengthen their market position. The market is also witnessing the emergence of several new entrants, which are investing in research and development activities to introduce innovative and cost-effective cold plunge tubs. With the growing demand for health and wellness products, the competition in the global cold plunge tub market is expected to intensify in the coming years.
Cold Plunge Tub Market Top Player’s Company Profiles
- Master Spas (US)
- Jacuzzi Group Worldwide (US)
- Kohler Co. (US)
- American Standard Brands (US)
- Aquavia Spa (Spain)
- Vortex Spas (Australia)
- Novellini (Italy)
- EIS Wellness (Italy)
- Thermarium (Italy)
- Arctic Spas (Canada)
- Diamond Spas (US)
- SWISS Wellness Inc. (US)
- Plunge Pools Direct (Australia)
- Bullfrog International (US)
- Endless Pools (US)
- QCA Spas (US)
- Jazzi Pool and Spa Products Co., Ltd. (China)
- Guangzhou Monalisa Bath Ware Co., Ltd. (China)
- HONGYUE PLASTIC GROUP (China)
- VARDHMAN CHEMI-SOL INDUSTRIES (India)
Cold Plunge Tub Market Recent Developments
-
Ice Barrel and CrossFit Games established a partnership in May 2023. For athletes, the company offers more than 200 Ice Barrels. It provides a simple method for bringing ice baths for individual use. This allows it to offer a wider range of products to more clients.
-
Renu Therapy and Salus Saunas partnered in August of 2022. Additionally, they have increased the range of products they sell, which is better for the clients.
-
In April 2021, Bradford Products, a US-based manufacturer of stainless-steel pools and spas, announced that it had expanded its product line to include cold plunge tubs.
Cold Plunge Tub Key Market Trends
- Increased focus on wellness and self-care: With rising awareness about the importance of self-care and wellness, consumers are turning to products such as cold plunge tubs to help them achieve their health goals. Cold water therapy is considered to be an effective way to improve overall health and well-being.
- Innovation in design and features: Manufacturers of cold plunge tubs are constantly innovating and introducing new designs and features to make the product more appealing to consumers. For example, some models come with adjustable temperature controls, LED lighting, and built-in speakers, among other features.
- Growing demand from commercial spaces: Cold plunge tubs are not just limited to residential settings, but are also increasingly being used in commercial spaces such as spas, gyms, and hotels. This is driving the demand for larger and more durable tubs that can withstand frequent use.
- Increasing adoption of e-commerce: The cold plunge tub market is also witnessing a shift towards e-commerce channels, with more consumers opting to purchase the product online. This trend is expected to continue as online shopping becomes more convenient and accessible.
Cold Plunge Tub Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Cold Plunge Tub Market analysis, cold water therapy has gained popularity as a form of hydrotherapy that offers numerous benefits, including pain relief, improved circulation, reduced inflammation, and enhanced athletic recovery. The market is expected to continue its growth trajectory due to the increasing awareness of the health benefits of cold-water therapy, the rising adoption of hydrotherapy by commercial establishments, and the growing demand for luxury homes and rental properties equipped with cold plunge tubs. North America dominated the global market, followed by the Asia Pacific region, due to the high adoption rate of cold-water therapy in these regions. Overall, the global market presents a plethora of opportunities for manufacturers, suppliers, and distributors to expand their business and cater to the rising demand for cold water therapy. With increasing consumer awareness and the growing trend towards natural and non-invasive healthcare solutions, the market is set to witness remarkable growth in the coming years.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 336.37 Billion |
| Market size value in 2031 | USD 491.33 Billion |
| Growth Rate | 4.30% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Cold Plunge Tub Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Cold Plunge Tub Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Cold Plunge Tub Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Cold Plunge Tub Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Cold Plunge Tub Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Cold Plunge Tub Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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