Bathtub Market To Maintain Steady Growth

The global bathtub industry generated $7.6 billion in 2019 and is estimated to reach $8.9 billion by 2027, witnessing a compound annual growth rate (CAGR) of 4.3 per cent from 2021 to 2027, says a report from Allied Market Research. The COVID-19 pandemic had a significant impact on the bathtub market. The offline segment witnessed closure of major distribution channels across the globe in an attempt to curb the spread of coronavirus. Manufacturers have responded by creating strategies to revive from the current situation by reshaping their sales channels as well as product innovation. The standing bathtub segment will maintain its lead position during the forecast period. It had the highest share in 2020, holding more than one-third of the global bathtub market and is expected to maintain its lead position in terms of revenue during the forecast period. The popularity of this type of tub is due to the fact that they do not require wall support for installation. However, the corner bathtub segment is estimated to manifest the largest CAGR of 6.3 per cent from 2021 to 2027, owing to its bubble and whirlpool features. Based on material, the ceramic segment accounted for the highest share in 2019, contributing to more than one-third of the global bathtub market and is estimated to maintain its leadership status during the forecast period