GVR Report cover Cold Plunge Tub Market Size, Share & Trends Report

Cold Plunge Tub Market Size, Share & Trends Analysis Report, By Application (Residential, Commercial), By Region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa), And Segment Forecasts, 2022 - 2030

  • Report ID: GVR-4-68039-955-7
  • Number of Pages: 80
  • Format: Electronic (PDF)

Report Overview

The global cold plunge tub market size was valued at USD 298.1 million in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 4.1% from 2022 to 2030. The need to treat the increasing number of cases of inflammation, discomfort, and muscle soreness among athletes and in sports training facilities is one of the primary factor fueling market growth. Many sportsmen have a routine of dipping into an ice bath after a workout. It is used to recover more quickly and lessen muscular stiffness and soreness after intense training sessions or contests and is also known as cold water immersion. Patients and athletes are becoming more aware of hydrotherapy due to the treatment's increased attention, and it has gained prominent focus among sports persons and athletes.

U.S. cold plunge tub market size, by application, 2020 - 2030 (USD Million)

A rise in the population's use of cold plunge pools is also related to the rising demand for hydrotherapy as a result of numerous neurologic and musculoskeletal diseases. As a result, the market for cold plunge tub is estimated to witness strong growth over the forecast period. The growth of industry will be further accelerated by rising investments in private hospitals, healthcare facilities, spas, and the fitness industry. Hydrotherapy is also being prioritized for treatment by both private and significant government healthcare institutions, which will significantly fuel the size of the industry during the projection period. Additionally, the expansion of the market for cold plunge tub is aided by rising healthcare expenditure and disposable income.

Numerous athletes and sports people have been drawn to cold bath treatment because of its many advantages, including a reduction in tension, accelerated muscle recovery, and increased blood circulation. Additionally, it is anticipated that an increase in spinal cord injuries and muscular soreness problems would encourage consumers to regularly take cold water baths, propelling the expansion of the industry. The advent of COVID-19 had a significant influence on the industry, with key companies experiencing a decline in revenue and sales. This has majorly impacted the global cold plunge tubs market. Nearly every consumer category has been affected by the COVID-19 pandemic, which has changed consumer habits, hindered the growth of certain companies, including certain areas of the health and wellness industry. Due to trade prohibitions and supply chain interruptions, manufacturers also had trouble obtaining the components necessary to manufacture the products.

On the brighter side, the pandemic has raised global awareness about health and mental wellness creating need for recreational activities and importance of living a healthy lifestyle. This in turn is expected to increase consumer demand and interest towards various health and well-being equipment including cold water plunge tubs. Following the virus spread, the growth of the market for cold plunge tub will be driven by rise in the investments in healthcare industry, rising awareness about cold water baths and its benefits among consumers and sports persons, and growth of hotel and spa-like services industry across the globe.

The need for hydrotherapy equipment has risen due to the high patient preference for non-invasive pain treatment techniques. Other factors such as high investments by athletes and sports associations to purchase technologically advanced therapy devices and rise in the adoption of hydrotherapy equipment by surgeons and physicians are expected to have profound impact on the industry. Additionally, major initiatives by key market players to build next-generation medical devices equipped with Internet of Things (IoT) and smart sensor solutions is expected to open plethora of business expansion opportunities.

Favorable government regulations, an increase in sports accidents, unhealthy behaviors, cutting-edge equipment technologies like wearable devices, and a rise in the number of elderly people that are pain-sensitive are expected to have a significant impact on the global economy. The market expansion, however, is anticipated to be significantly constrained by the high prices associated with cold plunge tubs.

Application Insights

The commercial application segment dominated the market for cold plunge tub and accounted for the largest revenue share of around 80.0% in 2021 and is expected to maintain its dominance over the forecast period. The segment covers use of cold water tubs at various commercial places including spas, sports training centers, gyms, and other activity premises. The growth of the segment is mainly driven by rising adoption of cold water therapy among several commercial premises. Hydrotherapy has become more crucial in treating illnesses including cardiovascular diseases, high blood pressure, circulatory issues, and chronic pain. As consumer awareness grows, more hospitals, physical therapy offices, and fitness facilities are providing specialized hydrotherapy treatments to address a range of medical issues. This is expected to drive the commercial applications of cold water plunge tubs in coming years.

Modern customers also favor less invasive procedures to address orthopedic conditions including arthritis, low back pain, and hand pain as well as sports-related injuries. Private hospitals, wellness centers, and clinics are emphasizing hydrotherapy and water therapy as a form of treatment as a consequence in expanding markets. As a result, the demand for cold plunge tub is expected to witness exponential growth in commercial sector. The residential application segment accounted for revenue share of around 20.0% in 2021. This is owing to rising awareness about the benefits of cold water baths. Additionally, consumers have also undergone renovations to add cold water bath tubs in response to increased knowledge of the benefits of regular exercise. The desire for luxurious houses and rented bungalows equipped with bath tubs and swimming pools have also stimulated the industry in recent years.

Regional Insights

North America dominated the cold plunge tub market and accounted for largest revenue share of over 38.0% in 2021 on account of rising demand for cold water baths among sports person and athletes. Additionally, rising investments in private health and wellness sector, spas, and fitness sectors is expected to provide major opportunities for market players. For instance, in Baltimore, as a part of Baltimore City Recreation and Parks’ (BCRP) redevelopment plan, the city council announced the construction of a new fitness center with a funding of USD 23.1 Million that include construction of plunge pools, lap pools, and an open fitness area, aimed to improve public health.

Global cold plunge tub market share, by region, 2021 (%)

Additionally, modern customers prefer less invasive therapies to address orthopedic problems including arthritis, low back pain, and hand pain as well as sports-related injuries. As a result, private hospitals, wellness centers, and clinics are putting more of an emphasis on hydrotherapy and water therapy as a form of treatment in expanding markets. This is expected to further bolster the regional growth of the industry.

Asia Pacific is expected to register the fastest CAGR during the forecast period. It is developing as a result of increased use by resorts, gyms, and spas. Additionally, the fast developing health and wellness sector will open up new potential for the industry in the region, due to the expanding population of countries like India, China, Australia, and Japan. Throughout the predicted period, rising production rates and manufacturers' focus on employing less expensive raw material substitutes are anticipated to overcome any cost limitations putting more emphasis on launching new product launches in the region.

Calcined Shale Market Trends by Region

In Middle East and Africa, the market for cold plunge tub is expected to showcase strong growth in near future on account of rising healthcare expenditure. Growing industrialization in countries like Brazil, South Africa, among others has resulted in an increase in the population's disposable income, which is predicted to promote benefits of healthy lifestyle, consequently favorably impacting the industry development over the forecast period.

Key Companies & Market Share Insights

The dominant players in the industry have introduced new products with enhanced capabilities. Companies are placing more emphasis on new product releases and the widening of their distribution networks in an effort to stand out among customers. Additionally, key market players are focused on launching cold plunge tubs made of wood and economical materials that are customizable. For instance, Brass Monkey Health Ltd, one of the prominent players operating in the global market launched ice bath tub to cater to cross fit industry. Such initiatives by key players are expected to help them to expand their product portfolio and widen consumer reach. Some of the prominent players in the cold plunge tub market include:

  • Hotbarrel 

  • The Ice Bath Co.

  • Ice Barrel

  • Cold Tub

  • iCool

  • Renu Therapy

  • Plunge

  • Brass Monkey Health Ltd

  • Jacuzzi Inc.

  • BuiltHQ

Cold Plunge Tub Market Report Scope

Report Attribute

Details

Market size value in 2022

USD 307.7 million

Revenue forecast in 2030

USD 426.8 million

Growth rate

CAGR of 4.1% from 2022 to 2030

Base year for estimation

2021

Historical data

2017 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD million and CAGR from 2022 to 2030

Report coverage

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

Segments covered

Application, region

Regional scope

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

Country scope

U.S.; Canada; Mexico; U.K.; Germany; France;  Italy; Spain; China; India; Japan; Australia; South Korea; South Africa; Brazil

Key companies profiled

Hotbarrel; The Ice Bath Co.; Ice Barrel; Cold Tub; iCool; Renu Therapy; Plunge; Brass Monkey Health Ltd; Jacuzzi Inc.; BuiltHQ.

Customization scope

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

Pricing and purchase options

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

 

 

Global Cold Plunge Tub Market Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global cold plunge tub market report on the basis of application and region:

Global Cold Plunge Tub Market Segmentation

  • Application Outlook (Revenue, USD Million, 2017 - 2030)

    • Commercial

    • Residential

  • Regional Outlook (Revenue, USD Million, 2017 - 2030)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • U.K.

      • Germany

      • France

      • Italy

      • Spain

    • Asia Pacific

      • China

      • India

      • Japan

      • Australia

      • South Korea

    • Central & South America

      • Brazil

    • Middle East & Africa

      • South Africa

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