According to a new report published by Allied Market Research, titled, “Bathtub Market by Type, Material, End User, and Distribution Channel: Global Opportunity Analysis and Industry Forecast 2021–2027″. The report offers an extensive analysis of changing market trends, key segments, top investment pockets, regional scenario, Porter’s Five Forces, and competitive scenario. The bathtub market size was valued at $7.6 billion in 2019, and is estimated to reach $8.9 billion by 2027, registering a CAGR of 4.3% from 2021 to 2027.
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The demand for bathtubs in the bathtub market is driven by the expansion of hospitality industry. The desire for travelling is rising by the influence of social media; thereby, increasing the number of travelers globally. Moreover, with rise in number of travelers the service demand for hospitality is rising, which is driving the key players in providing best services at minimum cost. Therefore, the hospitality industry is installing the bathtubs with the facility of spa and skin care for relaxation and comfort to provide better facilities to its customers. Thus, growing hospitality industry is driving the demand for both basic and luxurious bathtubs globally.
The bathtub market is segmented on the basis of type, material, end user, distribution channel, and region. Based on type, the global market is divided into free-standing tubs, alcove tubs, drop-in tubs, and corner tubs. On the basis of material, it is divided into marble, acrylic, ceramic, and others. On the basis of end user, the market is bifurcated into residential and commercial. By distribution channel, it is bifurcated into offline and online. Region wise, the global market is studied across North America, Europe, Asia-Pacific, and LAMEA. North America consists of the U.S., Canada, and Mexico. Europe is studied across the UK, Germany, France, Italy, Spain, and the rest of Europe. India, China, Japan, ASEAN, Australia, and the rest of Asia-Pacific are the countries analyzed under Asia-Pacific, while LAMEA includes Brazil, Argentina, Saudi Arabia, South Africa, and rest of LAMEA.
By material, the ceramic segment generated the highest share in 2019, accounting for more than one-third of the global bathtub market, and is projected to dominate during the forecast period. Simultaneously, the acrylic segment is anticipated to cite the fastest CAGR of 5.5% from 2021 to 2027.
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 fuel the growth of the global bathtub market. By material, the ceramic segment generated the highest share in 2019. By region, on the other hand, the market across Asia-Pacific would portray at the fastest CAGR of 6.7% by 2027.
One of the key factors that restrains the demand for bathtubs in the bathtub market is the lack of space availability in the households, as most of the developing countries face issues regarding the space and installing a bathtub. Furthermore, the average size of the small bathroom is 3m x 2m, which is not enough to install a bathtub. Moreover, the traditional bathrooms are also preoccupied with other sanitary wares and adjusting a bathtub into it makes it more congested.
The global bathtub market has been majorly impacted amidst the outbreak of the coronavirus. The COVID-19 pandemic resulted in lockdown and widespread restrictions across the world. The offline sales of bathtubs have nosedived across the world, owing to the downfall of consumer goods industry across the world. Furthermore, recent development in resurgence of the second wave of coronavirus in Europe and North America is one of the major challenges the industry is expected to face in the coming days.
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The key players operating in the bathtub market includes 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.
Key Benefits For Stakeholders:
○ The report provides a quantitative analysis of the current market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing opportunities.
○ Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
○ In-depth analysis and the market size and segmentation assist to determine the prevailing bathtub market opportunities.
○ The major countries in each region are mapped according to their revenue contribution to the market.
○ The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the bathtub industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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