Global Pool & Spa Market
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2023
The global pool & spa market is expected to reach USD 23.6 billion by 2027 from an estimated USD 19.1 billion in 2022, at a CAGR of 4.3% from 2022 to 2027. The growth of the pool & spa market is proportional to the growth of the health awareness among people, which are the primary drivers of growth in demand for recreational and exercise activities. Apart from this, an increase in the tourism sector and the rising investments in luxury homes after the COVID-19 situation has led to the installation of pools & spas to achieve mental and physical relaxation. As a result, the pool & spa may experience a growth in demand during the forecast period.
Asia Pacific: The fastest-growing region in pool & spa market
Asia Pacific is expected to grow with the highest CAGR during the forecast period. Asia Pacific consists of many of the emerging economies including Japan, India and China, that are likely to exhibit strong economic growth.
Thailand is one of the popular markets for pool & spa in the region. The tourism industry is expected to boost up the market in the region due to the increase in construction of hotels and resorts, hence increasing the installation of pool & spa in the region. The hospitality industry is one of the end user that is driving the spa market, owing to the increase in usage of hydrotherapy bathtubs. Also, the rising popularity of the traditional massage in the region is expected to drive the pool & spa market.