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Hot Tub Market Trends

Report ID: GMI8620
Published Date: Mar 2024
Report Format: PDF

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Hot Tub Market Trends

The increasing awareness of the health and wellness benefits associated with hot tubs, such as stress relief, muscle relaxation, improved sleep quality, and pain management, is driving demand among consumers looking to enhance their overall well-being. There is a growing trend towards creating outdoor living spaces that extend the usable square footage of a home.

Hot tubs are often incorporated into these spaces as a focal point, creating a resort-like atmosphere in the backyard. As homeowners invest in landscaping, outdoor kitchens, and patio furniture to enhance their outdoor living experience, hot tubs become a natural addition, boosting the demand for home improvement products and services.

Additionally, the trend towards outdoor living spaces and backyard renovations has contributed to the growing popularity of hot tubs as a focal point for outdoor entertainment and relaxation. Consumers are investing in outdoor hot tub installations to create inviting and functional outdoor environments for socializing and recreation. There is a trend towards premiumization in the hot tub market, with manufacturers introducing luxury features such as built-in speakers, waterfalls, LED lighting systems, aromatherapy options, and high-end materials to enhance the overall spa experience and appeal to affluent consumers.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of hot tub reached USD 4.3 billion in 2023 and is set to witness 4% CAGR from 2024 to 2032, owing to the increasing focus on health, wellness, and home leisure activities, leading to growing demand for home relaxation spaces, including hot tubs worldwide.

The above-ground hot tub segment recorded USD 2.2 billion in 2023, due to being more affordable than in-ground models.

North America market reached USD 1.4 billion in 2023, attributed to the desire for relaxation, wellness, and lifestyle enhancement among consumers in the region.

Bullfrog Spas, Canadian Spa UK, CERA Sanitaryware Limited., Freuer Faucets, Jaquar, Kerovit, Kohler Co., LIXIL Corporation, Masco Corporation, Moen Incorporated, Roca Sanitario S.A, Villeroy & Boch AG, and VITRA INTERNATIONAL AG., are some of the major hot tub companies worldwide.