Rapid Integration of Smart Technology into Hydrotherapy Equipment Driving Sales of Cold Plunge Tubs Market | Future Market Insights, Inc.
NEWARK, Del, Dec. 07, 2023 (GLOBE NEWSWIRE) -- The cold plunge tub market is poised for significant growth, with the global market size estimated to reach US$ 332.9 million in 2024. The cold plunge tub sales are expected to witness a robust CAGR of 5.2% from 2024 to 2034. By 2034, the cold plunge tub demand is anticipated to reach a valuation of US$ 552.7 million.
Lucrative Opportunities in Cold Plunge Tub Market
The wellness trend, rapid integration of smart technology into hydrotherapy equipment, and growing health benefits awareness propel the cold plunge tub market. Growing demand for natural therapies and an increasing focus on mental and physical well-being stimulate the cold plunge pool market.
The growing popularity of sports and fitness activities emphasizing recovery methods stimulates demand for cold plunge tubs. Technological advancements in product technology and design, such as improved temperature control systems and customizable aesthetics, lead to lucrative market opportunities for cold plunge tubs. Other market trends include rapid urbanization, escalating disposable income levels, and considerable research and development initiatives.
Frosty Hurdles in the Cold Plunge Tub Industry
High initial maintenance and installation expenses are significant obstacles to cold plunge pool market expansion. Consumers' lack of knowledge and comprehension of the health advantages of cold plunge therapy constrain the market growth for cold plunge tub. The widespread adoption of cold plunge tubs is hampered by the availability of substitute recovery techniques and the requirement for specialized knowledge.
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Regional Outlook
Due to athletes' growing desire for cold water baths, North America controls the majority of the cold plunge tub market in 2024. Rising investments in the fitness, spa, and private health and wellness sectors present profitable opportunities for cold plunge tub vendors. Growth-promoting, less invasive treatments for orthopedic issues, sports-related injuries, and low back pain, including hydrotherapy and water therapy, are widespread.
Due to the increased adoption of cold plunge tubs by spas, gyms, and resorts in Asia Pacific, the region is projected to act as a lucrative market. Opportunities in the cold plunge tub industry arise from the growing health and wellness sector. To eliminate cost constraints and support market expansion, cold plunge tub manufacturers use less expensive raw material alternatives to make new products.
“The cold plunge tub industry is shaped by growing health consciousness among consumers in emerging nations. The demand for cold plunge tubs increases as athletes, enthusiasts, and teams use them for injury prevention and recovery, stimulating the growth of the sports and fitness industries. Producers of cold plunge tubs spend money on research and development, improving winter sports' technological and material aspects, and creating new products to expand the market.”, says Sneha Verghese , Senior Consultant for Consumer Goods and Products at Future Market Insights (FMI).
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Key Takeaways
- The commercial segment in the application category is projected to garner a share of 77.8% in 2024.
- The above-ground segment of the market by type is expected to achieve a market share of 58.9% in 2024.
- The cold plunge tub market in the United States is expected to rise at a CAGR of 2.9% over the forecast period.
- The cold plunge tub market in Germany is expected to evolve at a CAGR of 4.4% through 2034.
- Sales of cold plunge tubs in China are predicted to rise at a CAGR of 7.0% through 2034.
- India's cold plunge tub industry is expected to flourish at a CAGR of 7.5% over the forecast period.
- A CAGR of 4.7% is projected for cold plunge pool market in Australia from 2024 to 2034.
Competitive Landscape
Key manufacturers adopt strategies such as mergers and acquisitions to gain higher revenue and increase their expansion prospects in the cold plunge tub market.
Cold plunge tub manufacturers are introducing highly advanced and customized cold plunge tubs to capitalize on innovative trends. Due to their provision of distinct pools for residential and commercial sectors, based on application, the market is growing.
Vital Cold Plunge Tub Manufacturers
- Hotbarrel
- The Ice Bath Co.
- Ice Barrel
- Cold Tub
- iCool
- Renu Therapy
- Plunge
- Brass Monkey Health Ltd
- Jacuzzi Inc.
- BuiltHQ
Latest Developments
- Brass Monkey Health Ltd. expanded its operation unit, gaining recognition in the international market in April 2023.
- The acquisition of Meranus Group, a prominent German distributor of swimming pool equipment, was announced by Fluidra S.A. in December 2022. The company provided an extensive product portfolio to a larger customer base, strengthened its multi-product strategy, and improved its distribution network in Germany owing to the acquisition.
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Key Segments
By Application:
- Commercial
- Residential
By Type:
- In-ground Cold Plunge Tubs
- Above-ground Cold Plunge Tubs
By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
Authored by:
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
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