Pool and Spa Market Surging at 6.9% CAGR, Envisioning a Whopping US$ 47.8 Billion by 2034 | Future Market Insights, Inc.

NEWARK, Del, Feb. 09, 2024 (GLOBE NEWSWIRE) -- The global pool and spa market is anticipated to reach a valuation of US$ 24.5 billion in 2024, driven by regulatory compliance and safety standards. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 6.9% between 2024 and 2034, and reaching a total valuation of approximately US$ 47.8 billion by 2034.

A major factor contributing to market growth is the growing trend of wellness tourism, where travellers seek destinations offering experiences that promote health and wellbeing. The industry presents opportunities for collaboration between the travel and hospitality industries and pool and spa service providers.

Integration with smart home technology allows users to control and monitor pool and spa functions remotely via smartphones and other devices. Automation systems for temperature control, lighting, water chemistry, and maintenance scheduling enhance convenience and efficiency, reflecting the broader trend of connected homes and Internet of Things solutions.

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There is a growing need for education and professional development programs to train technicians, designers, and service providers in best practices, new technologies, and industry standards, as the pool and spa industry evolves. Training initiatives and certification programs present opportunities for collaboration between manufacturers, trade associations, and educational institutions to support a skilled workforce and uphold industry excellence.

Multi functional pool designs that accommodate various activities, such as swimming, lounging, exercise, and entertainment, are gaining popularity. Features like built in benches, swim up bars, waterfalls, and integrated fire pits enhance the versatility and appeal of pool environments, offering opportunities for customization and creative design solutions.

Key Takeaways from the Market Study

• Global pool and spa market was valued at US$ 22.7 billion in 2023.
• From 2019 to 2023, the market demand expanded at a CAGR of 8.5%.
• The market in Japan is expected to expand at a CAGR of 5.2% through 2034.
• By type, the spas segment to account for a CAGR of 6.6% through 2034.
• The absolute dollar growth of the market is projected to reach a value of US$ 23.3 billion during the forecast period
• The market in the United Kingdom is expected to expand at a CAGR of 8.3% through 2034.

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“Understanding cultural norms, regional aesthetics, and demographic trends enables businesses to tailor products, services, and marketing strategies to diverse market segments and consumer demographics,”-says Sneha Verghese, Senior Consultant for Consumer Goods and Products at Future Market Insights.

Company Portfolio

• Fluidra is a global leader in the pool and wellness industry, offering a wide array of products and solutions for both residential and commercial applications. Their portfolio includes pool and spa equipment such as pumps, filters, cleaners, and lighting systems, as well as innovative smart technologies for pool management and automation. The solutions of the company focus on sustainability, efficiency, and user experience.
• KLAFS is a renowned manufacturer of high end sauna, steam bath, and spa solutions. While the primary focus of the company lies in sauna and wellness facilities, KLAFS also offers a range of luxury spa products and accessories, including steam generators, relaxation loungers, and innovative spa room designs tailored to meet the needs of upscale residential and commercial clients.

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Report Scope:

Segmentation Analysis of the Pool and Spa Market

Type:

• Spas
  • Electric Spas
  • Steam Baths
  • Saunas
  • Hydromassage Bathtubs
• Pools
  • Lap Pools
  • Wading Pools
  • Heated Pools
  • Others
    • Spray Pools
    • Natural Pools
    • Zero Edge Pools
      

Accessories:

• Filters
• Chlorinators
• Blowers
• Cleaners
• Covers
• Suction Fittings
• Pool Pumps
• Others

Material:

• Plastic
• Rubber
• Fiberglass
• Stainless Steel
• Others
  

Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• South Asia and Pacific
• East Asia
• The Middle East and Africa
  

Authored by:

Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods. 

Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals. 

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About Future Market Insights, Inc. (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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