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

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.