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Portland, OR, July 27, 2022 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global massage equipment market generated $6.53 billion in 2021, and is expected to reach $15.08 billion by 2031, registering a CAGR of 8.9% from 2022 to 2031. The report includes a detailed study of dynamic aspects of the massage equipment market along with drivers, restraints, challenges, opportunities, market segmentation, competitive scenario, value chain, and regional landscape. The report is an essential piece of information for leading market players, new market entrants, shareholders, and stakeholders to formulate strategies for organic growth and gaining advantage in the industry.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $6.53 billion |
| Market Size in 2031 | $15.08 billion |
| CAGR | 8.9% |
| No. of Pages in Report | 324 |
| Segments covered | Type, Product, End User, Distribution Channel, and Region |
| Drivers | Growth of a sedentary lifestyle that leads to physical ailments |
| Increase in awareness regarding the availability of benefits of electric massagers |
| Opportunities | Increase in disposable income |
| Expansion of spa clinics and salons offering massage services |
| Restrains | High cost of electrical massagers |
| Increase in popularity for substituting methods for pain relief and relaxation including aromatherapy |
Covid-19 scenario:
- The Covid-19 pandemic negatively affected the overall growth of the massage equipment market. Factors such as the closure of distribution channels such as hypermarkets and supermarkets and restrictions on export & import activities of non-essential items hampered the market growth.
- As the majority of the electrical components are imported from China, the pandemic created challenges in the procurement of electronics. Moreover, it disrupted the supply chain and increased the prices of raw materials.
- The closure of commercial centers where electric massagers and other massager equipment are used such as spa centers, salons, and massage centers negatively affected the market.
- However, as the world is slowly recovering from the pandemic and governments have focused on increasing vaccination across the globe, the demand for massage equipment is expected to get back on track.
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The report segments the global massage equipment market on the basis of type, product, end user, distribution channel, and region. The report includes a detailed analysis of segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the analysis and devise strategies based on the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on type, the electric segment held the largest share in 2021, contributing to around two-thirds of the market. In addition, the segment is estimated to portray the highest CAGR of 9.5% from 2022 to 2031. The report also analyzes the non electric segment.
On the basis of product, the leg and foot massagers segment is projected to manifest the highest CAGR of 10.7% during the forecast period. However, the neck and shoulder massagers segment held the lion's share in 2021, accounting for nearly one-third of the market. The report includes an analysis of segments such as back and body massagers, head massagers, and others.
Based on end user, the commercial segment held the largest share in 2021, accounting for more than two-thirds of the market. However, the residential segment is expected to showcase the highest CAGR of 9.5% during the forecast period.
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On the basis of distribution channel, the online sales channel segment would manifest the highest CAGR of 11.2% from 2022 to 2031. However, the hypermarket and supermarket segment dominated the market in terms of revenue in 2021, holding more than one-third of the market. The report includes an analysis of segments such as the specialty store and others.
The global massage equipment market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America dominated in 2021, holding more than one-third of the market. However, the market across Asia-Pacific is projected to showcase the highest CAGR of 11.2% during the forecast period.
The global massage equipment market includes an in-depth analysis of the prime market players such as RoboTouch, OSIM International Pte. Ltd., HoMedics, Beurer, JSB Wellness, LG Electronics Inc., Dr. Physio, Medisana gmbh, Luraco Technologies Corporation, Panasonic Corporation, Medmassager, Omron Corporation, Shenzhen Relcare Electronics, Samsung Electronics Co., Ltd., and Zyllion. These market players have adopted several innovative strategies such as partnerships, mergers & acquisitions, collaborations, new product launches, and business expansion to maintain their foothold in the market. This report is vital in gaining competitive intelligence as it highlights operating segments, business performance, product portfolio, and strategic moves of the market players.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of 'Market Research Reports' and 'Business Intelligence Solutions.' AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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