July 14, 2024

Bath Bombs Market driven by growing popularity of self-care products is estimated to be valued at US$ 138.36 Bn in 2023

Bath bombs are effervescent fizzy products that are dropped into a bath to release ingredients like essential oils, moisturizers, and fragrance oils when dissolved in water. They come in a variety of fragrances and colors and are designed to help relax muscles, hydrate skin, and spread soothing aromas throughout the bathing area. The growing popularity of self-care products among millennials has increased the demand for bath bombs significantly. They provide therapeutic benefits to the skin and mind and are increasingly being used as stress-relieving tools.

The global 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 key trends:
One of the key trends in the bath bombs market is the launch of organic and natural bath bomb products. Consumers are increasingly becoming aware of the chemical ingredients used in personal care products and prefer natural and organic alternatives. Many bath bomb companies are introducing natural ingredients like clays, herbs, essential oils etc. in their formulations. For instance, Hugo Naturals uses only natural ingredients like Dead Sea salts, coconut oil, butter etc. in their bath bombs. Similarly, small brands like Heavenly Bubbles offer organic formulas without the use of synthetic preservatives, colors or fragrances. The growing demand for clean-label products is expected to drive the demand for natural and organic bath bombs over the forecast period.

Porter’s Analysis

Threat of new entrants: Low investment required to start a bath bomb business poses a low threat of new entrants. However, established brands have strong brand recognition and distribution channels.

Bargaining power of buyers: Buyers have high bargaining power due to availability of substitutes and undifferentiated products. They can easily switch to other bath and body brands.

Bargaining power of suppliers: Suppliers have low bargaining power due to availability of raw material alternatives and substitutes. Suppliers are dependent on bath bomb manufacturers.

Threat of new substitutes: Threat from substitutes like bath salts, essential oils and effervescent tablets is high as they provide similar functional benefits.

Competitive rivalry: The global bath bombs market is highly fragmented with the presence of several private label and small players. However, major brands dominate distribution channels and spend heavily on marketing.

Key Takeaways

The global bath bombs market is expected to witness high growth. Favorable influences like increased spending on premium bath and body products, rise in disposable incomes, growth in online retail are expected to boost market expansion.

Regional analysis: North America dominates the global bath bombs market currently, owing to high consumption of luxury skincare and beauty products. Europe follows next due to substantial demand from countries like the UK, Germany, and France. However, Asia Pacific is anticipated to be the fastest growing market during the forecast period, led by countries like China and India.

Key players: 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. Major players are focused on developing innovative formulas along with attention grabbing scents and colors to increase their customer base.