Global Hot Tub Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Hot Tub Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

The hot tubs are a pool of water used for relaxation. It is also used for hydrotherapy. The hot tub is designed to be used by more than one person at a time. It is usually heated by natural gas or electricity. However, other types of hot tubs such as submersible wood-fired hot tubs and solar hot tubs are also available in the market. Generally, the hot tub is made of wood, cement, stainless steel, and glass fiber. It provides various health benefits. These include relief from stress, minimization of arthritis pain, reduction of diabetic blood sugar levels, and lowering of blood pressure. The increase in disposable income, the increase in health awareness, the change of personal lifestyle and the rapid development of technology are driving global hot tubs Factors of market development.

Market Overview:

The latest research study on the global Hot Tub market finds that the global Hot Tub market reached a value of USD 3560.8 million in 2022. It’s expected that the market will achieve USD 4840.39 million by 2028, exhibiting a CAGR of 5.25% during the forecast period.

The impact of COVID-19 on the hot tub market

Due to COVID-19, most people stay in isolation at home, many people cancel their vacations, and people spend more time at home, resulting in a significant increase in hot tub sales. Some families canceled their vacation abroad and used the money they had planned to take a vacation to buy hot tub and enjoy life at home. Due to the sharp increase in sales, hot tubs were in short supply for a while. As the weather gets warmer, some families also rent hot tubs when holding family members birthday parties and other events, which makes the hot tub rental business booming. This factor has brought development opportunities to the hot tub market to a certain extent.

The growth of the hotel spa market

The rapid growth of tourism will create considerable income for hot tub. In the next few years, continued investment in tourism infrastructure, mainly in the Middle East and Asian countries, will also become a growth accelerator for the hotel spa service market. In addition, the global spa service market has also witnessed the launch of new cheap hotel spas, with price policies aimed at potential customers in the middle-income class. This factor has also promoted the development of hot tub in its upstream market.

Problems in the development of mineral water, hot springs and health spas

Regarding the development of the hot spring health industry, some people in the industry pointed out the existing problems and points that need attention: First, the lack of unified planning. There is a lack of a corresponding leading agency for overall planning and management, and there is a lack of unified planning and control in the planning, project approval, and approval process of some health industry projects. As a result, the project layout is fragmented, the degree of relevance is not high, and a complete industrial chain has not been formed. Industry characteristics and competitiveness need to be further improved. The second is the imperfect development of health care resources. Although there are a lot of health and wellness resources, most of them are based on primary development. The third is the large expenditure of starting and maintaining mineral water, hot springs and health spas. These factors may hinder the development of its upstream hot tub market to a certain extent.

Region Overview:

From 2022-2027, North America is estimated to witness robust growth prospects.

Company Overview

Watkins Manufacturing (Masco Corp) is one of the major players operating in the Hot Tub market, holding a share of 21.11% in 2022.

Watkins Manufacturing (Masco Corp)

Watkins Manufacturing (Masco Corp) manufactures the Endless Pools(R) line of aquatic fitness products, and is also the world's largest manufacturer of hot tubs, including Hot Spring(R) Spas, Hot Spot(R) Spas, Caldera(R) Spas, and the American Hydrotherapy Systems spa brands.

Bullfrog International

Bullfrog International is manufacturers and wholesalers of portable spas and hot tubs and retailer of portable spas. Bullfrog Spas is headquartered in Bluffdale, Utah.

Segmentation Overview:

As for product types, the Above-ground hot tubs segment held the largest market share in 2021.

Above-Ground Hot Tubs

Above-ground hot tubs are probably what come to mind when people think of hot tubs. Rather than being sunken into the ground like a swimming pool, they sit on top of the ground like a large (and bubbly) bathtub. One of the biggest benefits of above-ground hot tubs are their cost and easy installation.

Potable Hot Tubs

Portable hot tubs usually have built-in headrests, lighting options and air nozzles. All products are equipped with temperature adjustment device and automatic air pump. And because they are inflatable, the user can move it at will.

In-ground Hot Tubs

In-ground Hot Tub is a body of water that's built into the ground, very similar to an in-ground pool. Even though people are calling it a hot tub, if it's built into the ground and connected to the pool, it's an in-ground spa, or even a spool (spa and pool).

Application Overview:

By application, the Commercial segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Hot Tub market covered in Chapter 3:

Nordic Products
Bullfrog International
Artesian Spas
Cal Spas
Canadian Spa Co.
Watkins Manufacturing (Masco Corp)
Marquis Corp.
Jacuzzi Brands LLC
Blue Falls Manufacturing
Coast Spas Inc

In Chapter 4 and Chapter 14.2, on the basis of types, the Hot Tub market from 2018 to 2029 is primarily split into:

Above-Ground Hot Tubs
Portable Hot Tubs
In-ground Hot Tubs

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Hot Tub market from 2018 to 2029 covers:

Residential Users
Commercial Users

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)