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

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 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 cold plunge tub market is expected to intensify in the coming years. '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)'

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.

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.

In 2021, North America dominated the 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.