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| Bath Bombs Market |
The Bath bombs market is estimated to be valued at US$ 133.04 Billion in 2022 and is expected to exhibit a CAGR of 4% over the forecast period 2023-2031, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Bath bombs are effervescent items that soften and perfume bath water when
dropped into a bathtub filled with warm water. They are typically spherical and
made with various essential oils, herbs and fragrances encased within a shell
made of baking soda and citric acid. The main advantage of bath bombs is that
they provide relaxation and a spa-like experience for users. With growing
preference for wellness products driven by self-care trend, demand for bath
bombs is increasing.
Market key trends:
Bath bombs market is witnessing growing demand owing to rising preference for
self-care products among consumers. Long working hours, hectic schedules and
stress have increased the focus on personal wellness. Consumers are actively
looking for easy solutions to relax and unwind after a tiring day. Exposure to
social media influencers promoting wellness products has also raised awareness about
bath bombs. Moreover, availability of innovative bomb varieties with various
fragrances like lavender, rose and coffee catering to different moods further
aid the market growth. Manufacturers are leveraging online retail platforms for
better visibility and reaching wider customer base. Emergence of premium and
organic bath bombs made with natural ingredients is another key trend in the
market.
Porter’s Analysis
Threat of new entrants: New entrants face high initial costs to manufacture
bath bombs. Established players have economies of scale and brand loyalty
advantages.
Bargaining power of buyers: Individual consumers have low bargaining power due
to availability of substitutes. However, large retailers can negotiate lower
prices due to bulk purchasing power.
Bargaining power of suppliers: Suppliers of raw materials like essential oils
have moderate bargaining power due to lack of substitutes.
Threat of new substitutes: Alternate bath and body products pose minor threats.
Competitive rivalry: Intense competition amongst existing players to leverage
brand image and product differentiation.
SWOT Analysis
Strengths: Wide range of fragrances and innovative designs appeal to customers.
Eco-friendly natural ingredients gain popularity.
Weaknesses: Seasonal demand affects production planning. Relatively higher
costs compared to alternate bath products.
Opportunities: Growth of wellness industry and rise of online shopping expands
market reach. Increasing spa culture in developing regions provides new opportunities.
Threats: Stringent regulations on ingredients affect product portfolio.
Economic slowdowns lower discretionary spending on such items.
Key Takeaways
The global Bath
Bombs Market Share is expected to
witness high growth, exhibiting CAGR of
4% over the forecast period, due to increasing preference for aromatherapy
and natural cosmetic products. North America dominates currently due to large
consumer base and popularity of at-home self-care practices. However, Asia
Pacific is expected to be the fastest growing region owing to rapid
urbanization, rising incomes and shift towards luxury wellness products in
countries like China and India.
Key players operating in the bath bombs market are 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. They focus on unique designs and
combinations of fragrances to compete effectively.
Read More,
https://www.newsstatix.com/bath-bombs-market-trends-size-and-share-analysis/
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