The adoption of bathtubs is expected to increase at a CAGR of 5.77% during the forecast period. The bathtub market size is anticipated to rise from USD 10.79 billion in 2023 to USD 18.91 billion by 2033.
Various Trends Influencing the Bathtub Market
The bathtub market is poised for significant growth, with the increasing adoption of Sanitary wares in the construction and hospitality industries as key drivers.
Sanitary wares offer several advantages, including cost efficiency, excellent resistance to chemicals and scratches, and the growing consumer preference for luxury goods. The hospitality industry, in particular, is a significant contributor to the growth of the market, with increased spending on infrastructure projects and growing tourism in emerging markets.
Consumer preferences are also shifting toward high-quality, customized products, driving sales growth for firms in the bathtub market. The availability of a variety of bathroom products, coupled with increasing demand for premium sanitary ware from the hospitality industry, is fueling the growth of the bath ware market.
The leading players in the market are continually introducing new and advanced products to retain existing customers and attract new ones, with product quality, shape, and advanced features playing a crucial role in attracting consumers.
Increasing private and public sector promotional programs and government initiatives are also driving the growth of the bathtub market. These initiatives are aimed at increasing consumer awareness of the use of sanitary ware, and the resulting investments in the market are expected to drive growth in the coming years.
In conclusion, the bathtub market is set to experience robust growth due to the factors such as
| Attribute | Details |
|---|---|
| Bathtub Market Estimated Size (2023) | USD 10.79 billion |
| Bathtub Market CAGR (2023 to 2033) | 5.77% |
| Bathtub Market Forecasted Size (2033) | USD 18.91 billion |
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Over the last few decades, the bathtub market has grown significantly, with the increasing adoption of modern, high-quality bathtub products in both residential and commercial settings. However, the market has faced a number of challenges, such as increased competition and shifting consumer preferences.
Bathtub sales increased at a 3.29% CAGR from 2018 to 2022, reaching a market value of USD 10.20 billion in 2022.
Traditional bathtub materials such as cast iron and acrylic were once the most popular, but modern materials such as fiberglass and composites have recently gained significant market share. Consumers are becoming increasingly interested in products that provide durability, ease of installation, and low maintenance, which has resulted in the growth of these modern materials.
Another trend in the bathtub market is the rising demand for luxurious and personalized products. Customers are willing to pay a high price for products with advanced features such as hydrotherapy, air jets, and other high-end features. The hospitality industry has also played an important role in the growth of the bathtub market, with luxury hotels and resorts increasingly including high-end bathtub products as a part of their amenities.
The growing trend toward eco-friendly and sustainable products is also expected to drive growth, with consumers seeking environmentally friendly and cost-effective products. In the coming years, smart bathtubs with features like voice control, automatic water filling, and temperature control are expected to gain popularity.
Looking ahead, the bathtub market has a bright future, with several factors driving growth. Consumer demand for advanced features and luxurious products is expected to rise further, and manufacturers are likely to launch new and innovative products to meet this demand.
FMI opines that the bathtub market is to record a progressive CAGR of 5.77% in the analysis period of 2023 to 2033 and to reach a market valuation of USD 18.91 billion by 2033.
The market growth for bathtubs is being hindered due to the lack of access to indoor plumbing in many households globally, including in North America. According to Hill, over a million people in America still lack access to indoor plumbing, with most of them residing in big cities.
Each material used in the making of bathing tubs has its own disadvantages. For instance, fiberglass tubs are more susceptible to scratches compared to porcelain, while cast iron tubs are heavy, especially when filled with water.
Enameled steel, also known as porcelain on steel, is prone to rusting on the surface, and marble and stone tubs can be expensive due to the cost of customization. Additionally, cleaning bathtubs is generally a time-consuming task. These factors may impede the growth of the market to some extent.
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The residential segment is projected to be a prominent sector in the bathtub market due to the growing trend of constructing residential houses and the increasing popularity of bathroom renovations among households, which create a peaceful environment. The standard measurements of bathing tubs in households are usually around 60 inches long, 30 inches wide, and 14 to 16 inches high. Many of them are deep than a standard tub, typically with a soaking depth great than 16 inches.
The rising demand for smart and intelligent bathroom products that are easy to install and incorporate digitization is expected to fuel the overall demand for bathtubs in residential applications.
Alcove bathtubs are a popular choice for residential bathrooms, particularly for small spaces, due to their compact size and space-saving design. The popularity of alcove bathtubs can be attributed to their ease of installation, affordable cost, and versatility in design. They are typically installed against three walls and have a finished front side, which makes them a popular choice for new construction and bathroom remodels.
Alcove bathtubs offer a range of customization options, including various materials, colors, and finishes. They are available in a wide range of sizes and shapes to fit different bathroom layouts and design preferences.
The fiberglass segment accounted for 31.73% of the global market in 2021, making it a significant segment in the bathtub market. The popularity of fiberglass bathtubs can be attributed to their affordability, lightweight, and easy installation, making them a preferred choice for many consumers. Additionally, fiberglass bathtubs are available in various sizes, shapes, and designs, providing consumers with a wide range of options to choose from.
The acrylic bathtubs market held a significant share in 2021, accounting for 46.7% of the global market. Acrylic bathtubs are becoming increasingly popular due to their durability, ease of maintenance, and versatility in design. They are also relatively affordable compared to other materials such as cast iron or stone. Moreover, advancements in technology have made it possible to create acrylic bathtubs that mimic the look and feel of these other materials.
The demand for acrylic bathtubs is expected to grow at a steady rate in the coming years due to their popularity among consumers and the expanding residential construction sector.
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With a market share of 31.9% in 2020, North America accounted for a significant share of the global bathtub market. The increasing demand for luxury bathroom fittings, rising disposable income, and growing awareness about bathroom aesthetics are driving market growth in North America. With a share of around 60% in 2020, the residential segment is the prominent contributor to the growth of the bathtub market in this region. Furthermore, technological advancements in the bathtub industry, as well as the growing adoption of smart bathroom products, are driving market growth in North America.
In 2021, Europe held a significant share of the bathtub market, accounting for 31.5% of total market revenue. Europe bathtub market is expanding due to several factors, including rising demand for luxurious bathroom products, increased personal hygiene awareness, and increased residential and commercial construction activity. The growing trend of home renovation and remodeling projects has also contributed to the region's market growth.
The presence of key market players in the region, as well as their emphasis on product innovation and development, has aided the growth of Europe bathtub market further.
Asia Pacific is anticipated to expand at a swift CAGR of 6.55% during the forecast period, leading the market growth. The demand for modern bath ware is increasing in Asia Pacific region as a result of rapid commercial and residential construction in China and India. Furthermore, the region's growing number of high-end hotels and resorts is expected to drive demand for premium bathtubs.
The global bathtub market is highly competitive and is characterized by the presence of several key players. The key players in the market are focusing on strategies such as mergers and acquisitions, collaborations, and partnerships to enhance their market presence and expand their product portfolio.
Some of the key players in the market include American Standard Brands, Kohler, Jacuzzi, TOTO, Roca Sanitario, Ideal Standard, MAAX Bath, and Duravit AG. These players are continuously investing in research and development activities to innovate new products and technologies to meet the changing customer demands.
Players in the market are also emphasizing expanding their distribution networks and increasing their production capacities to cater to the rising demand for bathtubs in the market. They are also investing in marketing and advertising campaigns to create brand awareness among customers and promote their products.
TOTO LTD announced its participation in the world's largest bath, toilet, building, indoor heating, air conditioning, and renewable energy fair in March 2021. The event has assisted the company in meeting the growing global demand for sanitation in the coming years.
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.77% from 2023 to 2033 |
| Base Year of Estimation | 2023 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and Volume in Units and F-CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, growth factors, Trends, and Pricing Analysis |
| Key Segments Covered | Type, Material Type, Application, Shape, By Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; The Middle East & Africa; Oceania |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, Italy, France, The United Kingdom, Spain, Russia, China, Japan, India, GCC Countries, Australia |
| Key Companies Profiled | Toto Ltd. (Japan); Royal Manufacturing (USA); Villeroy & Boch Group (Germany); RAK Ceramics (UAE); American Bath Group (USA); Geberit AG (Switzerland); Porcelanosa Group (Spain); LAUFEN Bathrooms AG (Switzerland); Jacuzzi Inc. (USA); Kohler Co. (USA) |
| Customization & Pricing | Available upon Request |
The global market could progress at 5.77% CAGR from 2023 to 2033 concluding at USD 18.91 billion.
The overall share of Europe in global bathtub market was nearly 31.5% in 2021.
The sales of bathtubs in North America almost 31.9% global revenue share in 2020.
The fiberglass material segment contributed for almost 31.73% of the total bathtubs produced in 2021.
Acrylic bathtubs still dominate the overall market and had 46.7% share in 2021.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Free-Standing Bathtubs 5.2. Alcove Bathtubs 5.3. Corner Bathtubs 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material 6.1. Acrylic 6.2. Cast Iron 6.3. Fiberglass 6.4. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 7.1. Residential 7.2. Commercial 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Shape 8.1. Rectangular 8.2. Oval 8.3. Square 8.4. Others 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. Asia Pacific 9.5. MEA 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Toto Ltd. 17.2. Royal Manufacturing 17.3. Villeroy & Boch Group 17.4. RAK Ceramics 17.5. American Bath Group 17.6. Geberit AG 17.7. Porcelanosa Group 17.8. LAUFEN Bathrooms AG 17.9. Jacuzzi Inc. 17.10. Kohler Co. 18. Assumptions & Acronyms Used 19. Research Methodology
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