Press release
Economic Growth And Technological Advancements Likely To Boost Growth Of Outdoor Hot Tub Market
Market Overview-Outdoor hot tub market has been gaining increasing momentum in the recent years with rising consumer spending confidence backed by high disposable income.
Growing adoption of hot tub in new residential construction as well as in the remodeling of existing homes is an important factor driving the outdoor hot tub market.
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As outdoor hot tub is a luxury goods, its market completely depends on consumer income. On the other hand, growing demand for outdoor hot tubs from hospitality sector is expected to fuel the market growth.
Significant advantages of such tubs in providing relief from stress, lowering of blood pressure, and even in the minimization of arthritis pain are favoring the growth of outdoor hot tubs market.
Growing Popularity of Spa and Hydrotherapy to Broaden Growth Opportunities for Leading Companies
With the fast-paced and hectic lifestyle, individuals continue to experience stress, tensions, increased muscle soreness. In order to detoxify the body, individuals prefer spending on outdoor spa services and hydrotherapy.
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Growing popularity of spa and hydrotherapy among individuals will intensify demand for the outdoor hot tubs in the spa and wellness industry.
As hydrotherapy and outdoor spa therapies help in relieving muscle pains and tensions, individuals are replicating these relaxing techniques and accommodating at their residence.
Growing need for effective stress relieving hydrotherapy has led spa and therapeutic centers to invest in outdoor hot tubs that are equipped with innovative and novel technological features
Product Launch and Strategic Acquisition: Key Players to Focus on Improving Customer Touch Points and Brand Perception
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To sustain their lead in the competitive market and improve their brand recognition, leading market players are focusing on engaging in strategic acquisitions and product launches. For instance, Jacuzzi Brands LLC has acquired BathWraps and Hydropool Hot Tubs and Swim Spas.
Through this strategic acquisition, the companies are focusing on developing innovative and novel custom bathtubs and showers. This acquisition will enable the companies to improve their growth prospect and brand perception.
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To improve their position in the competitive market, leading companies such as Jacuzzi, Aquavia, and Villeroy & Boch are also focusing on expanding their customer base by offering these products at comparatively cheaper prices through e-commerce platforms such as Amazon.com, Alibaba.com, Overstock.com, and Homedepot.com.
Through offering lucrative offers at discounted prices, leading brands are focusing on improving their brand recognition and increasing their customer touch points.
Some of the major market players identified in the global outdoor hot tub market include Acquavia, Jacuzzi, Lifesmart, Villeroy & Boch, and Apollo Spas.
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