Wilmington, Delaware, United States, June 15, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global cold plunge pools market was valued at US$ 376.0 Mn in 2022 and is projected to reach US$ 550.1 Mn by 2031. Recent market trends indicate surge in popularity of cold plunge pools for at-home cold therapy.
Rise in adoption of cold plunge pools in residential properties can be ascribed to rapid increase in awareness about the health benefits of cold water immersion therapy among users.
Manufacturers are offering high-end materials and incorporating novel designs that ease the installation of cold plunge pools to increase their market share. An instance is increase in development of pools made of durable and puncture-resistant PVC and easily-foldable pools that are suitable for at-home use.
Rise in demand for cold plunge pools with advanced wellness features, especially pools integrated with saunas and hot tubs, is expected to broaden market outlook. Surge in medical tourism in developing countries is estimated to strengthen the demand for spas and wellness clinics & centers. This, in turn is likely to fuel market development in the near future.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 376.0 Mn | |
| Estimated Value | US$ 550.1 Mn | |
| Growth Rate - CAGR | 4.3% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 160 Pages | |
| Market Segmentation | Type, Size, Material, Price, Application, End-use, Distribution Channel | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | Atlas Pools of Central Florida, Australian Plunge Pools, Brass Monkey Health Ltd, Diamond Spas, Inc., Fluidra S.A., KLAFS GmbH & Co. KG, Renu Therapy, RivieraPool Fertigschwimmbad GmbH, Soake Pools, LLC, SwimEx, Inc., The Ice Bath Co. | |
Key Findings of Study
- Surge in Demand for Indoor Plunge Pools Due to Multiple Health Benefits: Rise in awareness about health benefits of cold water immersion therapy among non-athletes and individuals who are not sportspersons is expected to boost the market in the next few years.
- Based on type, the indoor plunge pool segment is anticipated to expand at a rapid pace during the forecast period of 2023 to 2031. Extensive adoption of indoor plunge pools in spas, fitness centers, and wellness retreats can be ascribed to their year-round accessibility to consumers.
- Rapid Increase in Adoption of Cold Water Immersion Therapy Among Athletes and Fitness Enthusiasts: Surge in usage of cold water immersion therapy among athletes and sportspersons to boost their performance, accelerate recovery after workout muscle aches and injuries, or any intense exercise is likely to boost the market size.
- Considerable demand for cold plunge pools in the health & wellness industry presents significant revenue opportunities for companies in the market. Rise in popularity of ice bath tub among athletes, especially those engaged in endurance exercise, is anticipated to augment the market. Growth in demand for advanced cryotherapy among high-end residential properties is also expected to augment the market size.
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Key Growth Drivers of Cold Plunge Pools Market
- Rapid expansion of the sports & fitness industry is anticipated to drive the plunge pools market. Significant demand for cold water immersion therapy for rehabilitation and recovery among athletes and fitness enthusiasts is estimated to offer significant revenue opportunities for companies in the market.
- The market demand is driven by rise in awareness about the numerous health benefits of cold water therapy including reduction of inflammation, swelling, and sore muscles, and relief in sore muscles after intense workout or exercise. Rapid increase in number of health and wellness centers, especially in developing countries, is expected to augment market growth.
Regional Growth Dynamics
North America constituted market share in 2022. Considerable adoption of hydrotherapy in wellness centers, especially in the U.S. and Canada, is anticipated to propel the market in the region. Rise in demand for advanced indoor plunge pools is poised to offer significant business opportunities for market players in North America.
Europe is a lucrative market for cold plunge pools. A well-established health and wellness industry is expected to bolster market size in the region.
The market in Asia Pacific is anticipated to expand at a rapid pace from 2023 to 2031. Surge in demand for cold water therapy in spas and wellness spaces in India, China, Australia, and South Korea is likely to drive the market in the region in the next few years.
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Competition Landscape
Leading players in the cold plunge pools market are focusing on launching customized solutions in order to stay ahead of their competitors. Most prominent companies are stepping up their efforts to develop cold plunge pools with advanced wellness features to attract demand.
Key companies operating in the market are
- Atlas Pools of Central Florida
- Australian Plunge Pools
- Brass Monkey Health Limited
- Diamond Spas, Inc.
- Fluidra S.A.
- Renu Therapy
- Soake Pools, LLC
- SwimEx Inc.
- The Ice Bath Co.
- RivieraPool Fertigschwimmbad GmbH
Cold Plunge Pools Market Segmentation
The cold plunge pools market is segmented based on
Type
- Indoor
- Outdoor
Size
- Small
- Medium
- Large
- Extra Large
Material
- Acrylic
- Stainless Steel
- Wood
- Others (Aluminum, Concrete, etc.)
Price
- Low
- Medium
- High
End-use
- Residential
- Commercial
- Specialty Physical Therapy Clinics
- Fitness Centers
- Beauty Spas
- Others (Home Care Settings, Senior Living Homes, etc.)
Distribution Channel
- Direct
- Indirect
Region
- North America
- South America
- Europe
- Middle East & Africa
- South America
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