GVR Report cover Bathtub Market Size, Share & Trends Report

Bathtub Market Size, Share & Trends Analysis Report By Type (Freestanding Bathtubs, Alcove Bathtubs, Drop-In Bathtubs, Corner Bathtubs), By Material, By End-user, By Shape, By Region, And Segment Forecasts, 2024 - 2030

  • Report ID: GVR-4-68040-188-1
  • Number of Pages: 90
  • Format: Electronic (PDF)

Bathtub Market Size & Trends

The global bathtub market size was estimated at USD 9.89 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 4.1% from 2024 to 2030. The global surge in the popularity of contemporary bathroom designs has led to a significant increase in bathroom renovations and home improvement projects in key economies like China, the U.S., and Japan is accelerating the market growth. According to Houzz Inc., a substantial majority of homeowners, around 62%, prioritize upgrades to their home systems, with a strong preference for enhancing their bathrooms. This trend is indicative of a rising demand for versatile, multifunctional bathrooms, coupled with an increasing focus on aesthetic appeal, which is anticipated to be a driving force behind market growth over the forecast period.

U.S. Bathtub Market size and growth rate, 2024 - 2030

The rise in preference among consumer for remodeling and retrofitting of existing bathrooms are expected to boost demand for bathtubs. Moreover, the rise in availability of numerous bathroom fittings through e-commerce platforms and company website is likely to drive customer preference towards online shopping and is expected to surge bathtub sales, favoring the market growth. However, the volatile nature of the residential construction industry and the lack of bathroom space may negatively impact market growth. Design for homes with multiple bathrooms is expected to offer significant market growth.

Increasing urbanization and a significant shift in consumer purchasing behavior have fueled a surge in the demand for bathroom furniture and fittings, encompassing items like bathtubs, cabinets, shelves, and storage solutions. To meet this burgeoning demand, manufacturers in this sector are actively pursuing advancements in raw materials, manufacturing techniques, and smart technology integration. These initiatives are aimed at meeting evolving consumer needs, presenting lucrative prospects for growth and expansion for key industry players. Manufacturers' ongoing focus on innovating and enhancing product offerings is poised to be a driving factor in the market's continual expansion.

Moreover, rise in residential construction across developing economies such as China, India, and Indonesia is likely driving the demand for bathtubs. According to the World Economic Forum, around 200,000 people moved to urban areas daily for affordable housing and infrastructure. In addition, according to International Organization for Migration (IOM), approximately 281 million individuals from various countries migrated internationally in 2020, making up 3.6% of the world's population. This change is likely to boost the development of residential spaces globally, thereby offering immense opportunities for the market growth over the forecast period.

Government initiatives aimed at providing advanced and sustainable infrastructure for people with disabilities in developed economies like the U.S., including the elderly population, have been propelling the construction industry, which widens the application scope for bathroom products like bathtubs. For instance, the Americans with Disabilities Act (ADA) is a civil rights law established at the federal level, which prohibits discrimination against people with disabilities. The law specifies the layout, design, and spacing of commercial bathrooms, which includes features for desired heights for grab bars, bathtubs, dispensers, sinks, and toilets. These compliance standards regulate the commercial bathroom design to ensure accessibility to everyone, including the elderly, which is accelerating the market growth.

Market Concentration & Characteristics

Residential bathrooms often include bathtubs, offering a dedicated space for relaxation, personal hygiene, and therapeutic use. Available in diverse shapes, sizes, and materials like acrylic, fiberglass, cast iron, and stone, bathtubs cater to varied consumer preferences. The global market for bathtubs has experienced consistent growth, propelled by factors like rising disposable incomes, evolving lifestyles, and a heightened desire for indulgent bathing experiences.

Bathtub Market Concentration & Characteristics

The degree of innovation in the bathtubs market has seen notable advancemnets in the recent years. Innovations include smart features such as water-saving technologies, ergonomic designs, and material innovations. Moreover, there is growing technology innovations adopted by major players which is likely driving the growth of the market. For instance, TOTO introduced the flotation bathtub with a blend of refined aesthetics and wellness benefits. Its inventive design enables users to recline in a ZERO DIMENSION position, inspired by the weightless posture of the human body. For added comfort, an adaptable pillow enhances the experience, while an integrated waterfall feature ensures a soothing warmth around the shoulder area.

The manufacturers are focusing on various strategies like product development , merger and aqusitions to gain significant market share and consumer attraction. For instance, American Bath Group, LLC, a prominent producer of showers, bathtubs, and associated accessories, has confirmed an official agreement with Centerbridge Partners, L.P., a prominent private investment firm, for the acquisition of the Company from affiliates of Lone Star Funds ("Lone Star"). Notably, the ABG management team will retain a substantial stake in the company moving forward.

Regulations in the bathtub maket are majorly influenced by product design and manufacturing processes. Standards related to water conservation, functionality, and material safety is impacting the production of bathtubs. For instance, regulation promoting eco-friendly practices is driving the innovation in water-efficient designs, and safety standards are influencing material preferences.

The end-user concentration in the bathtubs market vary, with consumers ranging from individual homeowners to commercial entities such as hotels and spas. The residential end-use account for significant portion of the market with homeowners seekig diverse designs and features. Moreover, the commercial sector has observed high concentration owig to the purchase of bulk orders for hotels and spas. Manufacturers often tailor their offerings based on individual and bulk order buyers by adapting according to diverse needs of the market.

Type Insights

Based on the type, the alcove bathtubs segment led the market in 2023 with a largest market share of 37.5%. Alcove bathtubs stand out as a favored option in residential bathrooms, especially among consumers who have limited bathroom space, owing to their compact dimensions and space-efficient structure. Moreover, various features such as easy installation, functionality, and cost-effectiveness has propelled the widespread adoption of alcove bathtubs among consumers. These tubs, usually positioned against three walls with a finished front side, are highly preferred in both new construction projects and bathroom renovation endeavors, likely favoring the growth of the segment.

The freestanding bathtubs segment are projected to register a CAGR of 5.0% from 2024 to 2030.The surge in fascination with home aesthetics and interior decor has propelled the ascent of freestanding bathtubs as a lavish and fashionable inclusion in contemporary bathrooms. This market trend finds its momentum in factors like enhanced disposable income, elevated living standards, and an escalating desire for enhanced comfort and rejuvenation.

Material Insights

Based on the material, the acrylic led the market in 2023 with the largest revenue share of 40.2%. Acrylic material has properties such as low maintainance, affordable, and light weight. Moreover, owing to the availability of acrylic bathtubs in a wide variety of colors, designs and shapes is propelling its adoption among consumers. In additional, acrylic bathtubs are resistant to cracks, leaks and heat, and also is non-porous material that does not absorb water, resulting in high preferences among residential and commercial spaces.

The porcelain segment is projected to register a CAGR of 5.2% from 2024 to 2030.Porcelain material resists discoloration, fading, and staining, as compared to other materials. Moreover, porcelain bathtubs often exude a classic and elegant charm, contributing to a luxurious and timeless look in bathrooms. The smooth, glossy finish of porcelain not only enhances the overall visual appeal but also complements various bathroom styles, from traditional to contemporary, likely favoring the growth of the segment.

End-user Insights

Based on the end user, the residential segment led the market with a largest revenue share of 68.2% in 2023. A rise in number of millennials preferring to homes, especially pre-owned homes, is also fueling the demand for bathtubs. Consumer preference towards urban lifestyles, technologically advanced, and visually appealing product innovation by key industry participants, are increasing the adoption rate of premium and luxury bathtubs among consumers. Furthermore, the growing trend of home remodeling has been driving the demand for bathtubs over the last few years. For instance, according to the Joint Center for Housing Studies of Harvard University, the home renovation and repair expenditure rate increased from 3.5% at the close of 2020 to 3.8% by the end of 2021.

Global Bathtub Market share and size, 2023

The commercial segment is estimated to grow a CAGR of about 4.6% over the forecast period. The increasing development and expansion of commercial infrastructure across developing economies are supporting the demand for bathtubs. Apart from this, the significant growth of the hospitality industry, coupled with the rising number of hotels across the globe, is projected to propel product demand over the forecast period. For instance, as of June 2022, Hyatt Hotels had a pipeline of executed management or franchise contracts for approximately 550 hotels and 113,000 rooms worldwide.

Shape Insights

Based on the shape, the rectangular segment held the largest market revenue share of 42.9% in 2023. Rectangular bathtubs are often favored for their space-efficient design. The straight sides and well-defined edges allow for efficient use of bathroom space, making them particularly suitable for bathrooms of various sizes and layouts. This versatility makes rectangular bathtubs a popular choice, especially in bathrooms where optimizing available space is a priority. The sleek and straightforward geometry of a rectangular tub complements contemporary bathroom styles, contributing to the overall visual appeal of the space, resulting in high adoption among consumers.

The square segment is projected to register a CAGR of 5.9% from 2024 to 2030.Increased consumer interest in luxurious and customized bathtub has led to a surge in demand. There's a willingness among customers to invest significantly in products that offer sophisticated elements like hydrotherapy, air jets, and other premium features. Notably, the hospitality sector has significantly contributed to the expansion of the square global market. Luxury hotels and resorts are increasingly incorporating high-quality bathtub offerings as part of their amenities, further driving market growth.

Regional Insights

Europe dominated the market with a revenue share of 38.92% in 2023. A significant growing trend in hotel reservations across major tourist destinations in Europe is observed. According to data released by the travel digital marketing platform Sojern in 2022, Greece had booking figures ahead of 2019, with bookings made in June 24.2% higher than those recorded pre-pandemic. These trends indicate the resurgence of travel in Europe, which is pushing hoteliers to renovate the rooms according to customer needs. The hotel industry in Europe is undergoing a technological as well as luxury transformation with an aim to adapt to new and innovative products and services, majorly driven by the changing client needs. This renovation will likely focus on every area, including the hotel room bathrooms, walk-in cabinets, and thereby driving the application of bathtubs.

Bathtub Market Trends by Region, 2024 - 2030

Asia Pacific is anticipated to witness the fastest CAGR of 5.2% from 2024 to 2030. Asia Pacific is expected to gain substantial growth during the forecast years due to availability of the wide range of products offered by various regional and international market players such as freestanding, alcove, drop-in, and corner bathtubs. Moreover, according to data released by the United Nations Environment Programme (UNEP) in 2021, construction in the Asia Pacific is booming, and by 2040, the region will be home to nearly half of all new construction in the world. This growth in construction is likely to drive the demand for bathtubs.

Key Bathtub Company Insights

Some of the key players operating in the market include Kohler, Toto, American Standard, and Duravit.

  • Kohler Company specializes in crafting household fixtures and furniture, including plumbing fixtures, furniture, tiles, and stones. Their expertise extends to engineering engines and managing golf and spa resorts. With a global reach, Kohler caters to customers worldwide

  • TOTO Ltd. is manufacturer and supplier of bathroom and kitchen fixtures. Their bathroom fixtures product range includes system toilets, sanitary ware, toilet seats, plumbing accessories, bathtubs, and bathroom vanities

  • American Standard Americas specializes in crafting bathroom and kitchen products, providing an array of offerings such as faucets, fixtures, furniture, toilets, vanity tops, kitchen sinks, soap dishes, sink racks, and bathroom accessories. Serving a global clientele, American Standard Americas caters to customers worldwide

Recent Developments

In September 2023, Villeroy & Boch AG finalized binding agreements to acquire operational firms within the Ideal Standard Group. This move is rooted in their strategic alignment, aligning well in terms of regional presence, sales strategies, product range, and brand portfolios. The synergy sets the stage for an enhanced market position and future expansion. Upon completion, the integrated entity is poised to become one of Europe's leading manufacturers of bathroom products, capitalizing on the industry's global growth prospects

Key Bathtub Companies:

The following are the leading companies in the bathtub market. These companies collectively hold the largest market share and dictate industry trends. Financials, strategy maps & products of these bathtub companies are analyzed to map the supply network.

  • Kohler Co.
  • TOTO LTD
  • American Standard
  • Duravit AG
  • Jacuzzi Inc.
  • Roca Sanitario, S.A.U.
  • Delta Faucet Company
  • American Bath Group
  • Villeroy & Boch AG
  • BAINULTRA

Bathtub Market Report Scope 

Report Attribute

Details

Market size value in 2024

USD 10.26 billion

Revenue forecast in 2030

USD 13.04 billion

Growth Rate

CAGR of 4.1% from 2024 to 2030

Base year for estimation

2023

Historical data

2018 - 2022

Forecast period

2024 - 2030

Quantitative units

Revenue in USD million/billion and CAGR from 2024 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Type, material, end-user, shape, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Canada; Mexico; Germany; UK; Italy; Spain; France; China; India; Australia & New Zealand; South Korea; Japan; Brazil; South Africa

Key companies profiled

Kohler Co.; TOTO LTD.; American Standard; Duravit AG; Jacuzzi Inc.; Roca Sanitario; S.A.U.; Delta Faucet Company; American Bath Group; Villeroy & Boch AG; BAINULTRA

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

 

Global Bathtub Market Report Segmentation

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the latest trends and opportunities in each of the sub-segments from 2018 to 2030. For this report, Grand View Research has segmented the global bathtub market based on type, material, end user, shape, and region:

  • Type Outlook (Revenue, USD Million, 2018 - 2030)

    • Freestanding Bathtubs

    • Alcove Bathtubs

    • Drop-In Bathtubs

    • Corner Bathtubs

  • Material Outlook (Revenue, USD Million, 2018 - 2030)

    • Acrylic

    • Fiberglass

    • Porcelain

    • Cast Iron

    • Others

  • End-user Outlook (Revenue, USD Million, 2018 - 2030)

    • Residential

    • Commercial

  • Shape Outlook (Revenue, USD Million, 2018 - 2030)

    • Rectangular

    • Oval

    • Square

    • Others

  • Regional Outlook (Revenue, USD Million, 2018 - 2030)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • UK

      • France

      • Italy

      • Spain

    • Asia Pacific

      • China

      • India

      • Japan

      • Australia & New Zealand

      • South Korea

    • Central & South America

      • Brazil

    • Middle East & Africa

      • South Africa

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