| Product Code: ETC360504 | Publication Date: Aug 2022 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
The India bathtub market import shipment demonstrated a steady upward trajectory with a CAGR of 9.6% from 2020 to 2024. The growth rate between 2023 and 2024 slightly decreased to 8.1%, indicating a stable expansion trend with a slight moderation in the recent period.
The bathtub market in India was valued at around US$ 432 million and is anticipated to expand at a CAGR of 11%. On the basis of material type, acrylic bathtubs held major share owing to its low cost yet good quality compared to other materials such as stainless steel or cast iron tubs. Furthermore, growing awareness about hygiene among people has led them towards opting for modern bathroom accessories like baths which are driving up their demand across India significantly during this period.
The India bathtub market is experiencing growth due to several key drivers. Firstly, the rise in disposable incomes and changing lifestyles has led to an increased focus on home decor and aesthetics. As a result, consumers are seeking luxurious and comfortable bathroom spaces, which has driven the demand for stylish and modern bathtubs. Secondly, the growing hospitality industry, including hotels and resorts, has created a demand for premium bathroom fittings, including high-end bathtubs, to enhance the overall guest experience. Additionally, the trend of home renovation and remodeling has gained popularity among India homeowners, further contributing to the market growth. Furthermore, the availability of a wide range of bathtub designs, materials, and features has attracted consumers looking for personalized and innovative solutions. The market is also witnessing the introduction of eco-friendly and water-saving bathtubs, aligned with the growing awareness of sustainable living. These factors collectively indicate a positive outlook for the India bathtub market in the foreseeable future.
The India bathtub market encounters several challenges that impact its growth and market penetration. Firstly, the high initial cost of installing bathtubs remains a significant challenge for price-sensitive consumers. Bathtubs are considered luxury items, and the cost may be prohibitive for many households, especially in lower-income segments. Secondly, the lack of adequate bathroom space in urban apartments and smaller homes poses a challenge for bathtub installations. Many modern homes have limited bathroom areas, making it challenging for homeowners to accommodate bathtubs. Moreover, the preference for showers over bathtubs due to convenience and water-saving concerns can hinder market demand. Additionally, the traditional cultural practices in India, where bucket baths are common, may limit the adoption of bathtubs. To address these challenges, the bathtub industry needs to focus on offering affordable and space-efficient bathtub designs that cater to varying customer needs. Manufacturers can also invest in marketing campaigns to promote the benefits of bathtubs and highlight their functionality in modern lifestyles.
The India bathtub market faced challenges during the COVID-19 pandemic due to disruptions in the supply chain and reduced demand in certain segments. The lockdown measures and restricted movement impacted the production and availability of bathtubs in the market. Additionally, the economic uncertainties and reduced consumer spending on non-essential items affected the demand for luxury bathroom fittings, including bathtubs. Moreover, the closure of hotels, resorts, and other hospitality establishments led to a decline in the demand for commercial-grade bathtubs. However, the market showed resilience as restrictions eased and economic activities resumed. As people spent more time at home during the pandemic, there was an increased focus on home renovation and improvements, which contributed to the recovery in demand for residential bathtubs. The growing trend of wellness and self-care further supported the demand for high-end and spa-like bathtubs. Manufacturers in the bathtub market responded to the changing consumer preferences by offering a wider range of designs and materials, catering to different budget segments. With the revival of the construction and hospitality sectors, the India bathtub market is expected to gradually rebound in the post-pandemic period.
The India bathtub market is influenced by key players who offer a diverse range of bathtub designs and materials. Some of the leading manufacturers in the market include Hindware Homes, CERA Sanitaryware Limited, and Jaquar Group. These companies are renowned for their stylish and innovative bathtub designs, catering to the preferences of modern consumers. They focus on providing quality products, using durable and hygienic materials. Moreover, they invest in marketing and brand promotion to create awareness and increase bathtub adoption among consumers. In addition to domestic players, international brands such as Kohler and Duravit have a significant presence in the India bathtub market, offering premium and luxury options. These key players play a vital role in driving market growth by continually introducing new designs, incorporating technological advancements, and catering to the evolving demands of India consumers.