The Bath Bombs Market is estimated to be valued at US$ 138.36 Bn in 2023 and is expected to exhibit a CAGR of 4.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Bath bombs are self-care products used for bathing. They are spherical shapes made from a mixture of dried herbs, essential oils, and carrier ingredients that effervesce when placed in water releasing soothing fragrances. Bath bombs provide moisturizing and soothing effects on the skin. They are widely used to relieve stress and reduce inflammation. The growing trend of self-care products is driving the demand for bath bombs.
Market key trends:
One of the major trends fueling the growth of the bath bombs market is the increasing inclination towards natural and organic personal care products. Consumers are more aware of the harsh chemicals in most cosmetic products and are looking for natural alternatives. Bath bombs made from natural ingredients like sea salts, essential oils, herbs are gaining popularity as they are gentle on sensitive skin. Rising awareness about the therapeutic properties of essential oils is also driving the use of aromatherapy bath bombs for relaxation and stress-relief. Furthermore, innovative and novelty bath bomb shapes, colors and fragrances launched by manufacturers are attracting the younger consumer base and supporting the market growth.
Porter’s Analysis
Threat of new entrants: New entrants face high initial investment in production facilities, R&D and marketing. Established brands enjoy economies of scale and customer loyalty.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes however established brands create product differentiation and buyer switching costs.
Bargaining power of suppliers: Specialized ingredients and packaging suppliers enjoy some bargaining power due to limited substitutes and dependence of manufacturers.
Threat of new substitutes: Threat from new substitutes is moderate as bathtub products offer stress-relieving experience however demand for natural products is rising.
Competitive rivalry: Intense rivalry exists between major brands to gain market share through innovation, branding and promotional activities.
SWOT Analysis
Strengths: Rising demand for premium self-care products. Innovation in ingredients, scents and attractive packaging increase desirability.
Weaknesses: High production and marketing costs limit margins. Volatility in raw material prices impacts costs.
Opportunities: Growth in online retail channels and wellness tourism present an avenue. Emerging markets like Asia Pacific offer scope for expansion.
Threats: Stringent regulations on ingredient sourcing and compositions. Increased competition from private label brands.
Key Takeaways
The Global Bath Bombs Market Demand size is expected to witness high growth, exhibiting CAGR of 4.0% over the forecast period, due to increasing demand for premium aromatherapy and self-care products. The bath bombs market size stood at US$ 138.36 Bn in 2023 and is expected to reach US$ 196.98 Bn by 2030.
Asia Pacific dominates the global bath bombs market with over 35% share owing to large population, rising incomes and influence of wellness trends from Western countries. China is the fastest growing bath bombs market in the region followed by India.
Key players operating in the bath bombs market includes Lush Ltd., Body Shop International Limited, The Village Company LLC, Pearl Bath Bombs, Hugo Naturals, Level Naturals, Swanky Sweet Pea, Heavenly Bubbles Ltd, The Natural Soap Company, and Oliver Rocket LLC. Major brands focus on new ingredient formulations, attractive sustainable packaging and innovative shapes to drive premiumization in the competitive space.
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