According to the market analysis, the global massage devices market is segmented into type, product, end-user, distribution channel and region.
– Roshan Deshmukh
5933 NE WIN SIVERS DRIVE, PORTLAND, OR, UNITED STATES, Sept. 17, 2022 /EINPresswire.com/ — According to a new report from Allied Market Research titled “Massage Devices Market by Type, By Product, By End User, By Distribution Channel : Global Opportunity Analysis and Industry Forecast, 2021–2031”. The report provides a comprehensive analysis of the key growth strategies, drivers, opportunities, key segments, Porter’s Five Forces analysis and the competitive landscape.
Massager market size was estimated at US$6.54 billion in 2021 and is estimated to reach US$15.08 billion by 2031, growing at a CAGR of 8.9% from 2022-2031.
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Visiting a professional spa or masseuse is an expensive endeavor that not everyone can afford on a regular basis. Therefore, low-cost non-electric massagers are good purchase options that are likely to contribute to the growth of the market through the non-electric segment. Additionally, one of the key factors driving the expansion of the massage equipment market in the developed region is the accessibility of cutting-edge technology.
High cost of electric massagers, lack of awareness of the benefits of the massages and availability of other therapeutic treatments for relief and relaxation like aromatherapy and their growing popularity are some of the factors that are likely to hamper the massagers market growth during the forecast period.
According to Massager market analysis, Massager market is segmented into Type, Product, End-user, Distribution Channel and Region. The electrical segment, the base of the type, was the major contributor to the market and is estimated to reach $10,537.8 million by 2031 at a CAGR of 9.5% over the forecast period. The electric segment has gained a lot of traction among people and is expected to maintain its traction during the forecast period due to the benefits of electric massagers such as ease of use and the ability to provide relaxation with minimal effort. Electric massagers offer a professional quality massage while having the convenience of performing it at home. Furthermore, various strategies of the massage device manufacturers and vendors such as promotional activities, digital platform promotion, product launch in the electric massage device category, mergers and acquisitions are expected to support the growth of the massage device market by the electric segment during the forecast period.
The Basic Product, Leg & Foot Massagers segment made the largest contribution to the market and is expected to reach US$3,795.8 million by 2031 at a CAGR of 10.7% over the forecast period. A foot massager is a device used to soothe the feet while calming the nerves in the feet, increasing circulation, relieving pain, releasing toxins, energizing and uplifting mood. Chronic pain affects many people, especially the elderly, and foot massage is the best drug-free treatment for it today. The foot massager market is growing due to increasing demand from the elderly population, an increase in disposable income and affordability of the products.
As the foundation of distribution channel, the specialty stores segment made a significant contribution to the market in 2021 and is expected to reach US$3,786.9 million by 2031, growing at a CAGR of 9.8% over the forecast period. Massage equipment stores have captured a significant share of the global massage equipment market and are expected to maintain their market share during the forecast period.
In terms of region, Asia-Pacific achieved the second-highest massage equipment market share in 2021 and is expected to maintain its share throughout the massage equipment market forecast period. The growth of the Asia-Pacific market is being driven by the increased awareness of massagers and their benefits among the young and elderly population. In addition, the rapid urbanization in developing countries, the increase in young population and the increase in disposable income per capita are expected to motivate people to buy massagers in the region.
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The major players featured in this report RoboTouch, HoMedics, OSIM International Pte. Ltd., JSB Wellness, Beurer, Dr. Physio, LG Electronics Inc., Luraco Technologies Corporation, Medisana gmbh, Medmassager, Omron Corporation, Panasonic Corporation, Samsung Electronics Co., Ltd., Shenzhen Relcare Electronics and Zyllion.
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