Massage Equipment Market Expected to Reach $15.08 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Massage Equipment Market," The massage equipment market was valued at $6.54 billion in 2021, and is estimated to reach $15.08 billion by 2031, growing at a CAGR of 8.9% from 2022 to 2031.

Massage equipment are tools or machineries which can be electrical and non-electrical machines. For instance, electrical massagers produce strong vibrations on the surface of the skin and help to minimize aches and pain in the shoulder, neck, back, joints, and other parts of the body. Massage is a rejuvenating technique done by pressing the points on the body that can relax the tissues & muscles, stimulate blood circulation throughout, decrease stress, relieve anxiety, and release positive energy inside.

Going to a professional spa or masseuse is a pricey proposition, which everybody might not be able to afford on a recurring basis. Thus, cost effective non-electrical massagers are good options to buy, which are likely to contribute to the growth of the market through non-electric segment. Furthermore, one of the key factors that propel the expansion of the massager equipment market in the developed region is the accessibility of cutting-edge technology.

The massage equipment market has expanded in North America as a result of rise in awareness of the potential uses of massage in the treatment of activating mitochondria. Mitochondria are membrane-bound cell organelles that generate most of the chemical energy needed to power the cell's biochemical reactions. Furthermore, owing to the region's increased knowledge of the therapeutic uses of massage, the market for massage equipment has expanded.

High cost of the electrical massagers, lack of awareness regarding the benefits of the massages, and availability of the other therapeutic treatments to get relief & relaxations such as aromatherapy & its growing popularity are some of the factors that are likely to hinder the massage equipment market growth during the forecast period

The COVID-19 outbreak  negatively impacted the overall growth of the massage equipment market in 2020. During pandemic, closures of the distribution channels such as hypermarket/supermarket, specialty stores & others, stagnation in the export & import activities adversely impacted the sales of the massage equipment. Furthermore, closures of the various commercial centers where massage equipment are precisely used, such as spa centers, salon, and massage centers, were some of the attributable factors for decreased growth of the massage equipment market in 2020.

According to the massage equipment market analysis, the massage equipment market is segmented into type, product, end user, distribution channel, and region. By type, it is segregated into electric and non-electric. On the basis of product, the market is categorized into back & body massagers, leg & foot massagers, neck & shoulder massagers, head massagers, and others. By end user, it is segregated into residential and commercial. On the basis of distribution channel, the market is categorized into hypermarket & supermarket, specialty stores, online sales channel, and others. On the basis of region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Russia, Italy, Spain, and Rest of Europe), Asia-Pacific (China, India, Japan, Australia and New Zealand, South Korea, ASEAN, and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Turkey, Saudi Arabia, and Rest of LAMEA).

According to the massage equipment market trends, on the basis of type, the electric segment was the significant contributor to the market, and is estimated to reach $10,537.8 million by 2031, at a CAGR of 9.5% during the forecast period. Electrical segment has been gaining major traction among the people and is expected to sustain its traction throughout the forecast period owing to benefits offered by electrical massagers such as easy to use and can provide relaxation with minimal efforts.  Electric massagers provide massage of professional quality while having the comfort of performing it at home. Furthermore, various strategies adopted by the massage equipment manufacturing companies and vendors such as promotional activities, advertisements digital platforms, product launch in electrical massage equipment category, merger and acquisitions are likely to support for the growth of the massage equipment market through electrical segment during the forecast period.

According to the massage equipment market analysis, on the basis of product, leg and foot massagers segment was the highest contributor to the market and is estimated to reach $3,795.8 million by 2031, at a CAGR of 10.7% during the forecast period. A foot massager is a device that is used to calm the feet and, in the process, calms the nerves in the feet, increases blood flow, reduces pain, releases toxins, replenishes energy, and lifts the mood. Numerous people are affected by chronic pain especially elderly people, and foot massagers are now the best drug-free treatment for it. The market for foot massage devices is expanding due to rising demand from the elderly population, a rise in disposable income, and product affordability.

According to end user, the commercial segment was the highest contributor to the market, with $4,577.2 million in 2021 and is expected grow at a CAGR of 8.7% during the forecast period. Spa, healthcare centers including hospitals and clinics, salon and other centers where people go for having massages are some of the end users are considered in this segment. Growth in urbanization, rise in disposable income, expenditure on massage therapies to get relief & relaxations, and surge in disorders such as insomnia, headache, stress, and depressions are likely to supplement the massage equipment market demand during the forecast period.  

On the basis of distribution channel, the specialty store segment was the significant contributor to the market in 2021 and is estimated to reach $3,786.9 million by 2031, at a CAGR of 9.8% during the forecast period. Specialty stores for massage equipment has gained significant share in the global massage equipment market and is expected to sustain its market share during the forecast period. This is majorly attributed to benefits associated with the specialty stores, such as consumers can get more brand option for a particular product segment and can get guidance from experts and knowledgeable staff. Furthermore, people usually prefer to buy high quality massagers from specialty stores and from outlets operated & owned by manufacturing companies to avoid fake products.

According to the massage equipment market opportunities, region wise, Asia-Pacific garnered the second highest massage equipment market share in 2021, and is expected to maintain its share throughout massage equipment market forecast period.  The growth of the Asia-Pacific market is driven by increased awareness of massage equipment and its benefits among the youth & elderly population. Furthermore, rapid urbanization in developing economies, increase in youth population, and rise in per capita disposable income are expected to motivate people to buy massagers in the region. Growth in expansion of the hospitals and increase in facilitation of high-class in-house facilities to patients related to their physical health including physical therapy training centers are further likely to favor the growth of the massage equipment market.

The players operating in the global massage equipment industry have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled 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.

KEY FINDINGS OF STUDY 

• The massage equipment market size was valued at $6,535.4 million in 2021, and is estimated to reach $15,083.6 million by 2031, registering a CAGR of 8.9% from 2022 to 2031. 
• In 2021, on the basis of type, the non-electric segment acquired $2,182.4 million, exhibiting 33.4% of the global market share. 
• In 2021, by product, the head massagers segment was valued at $978.1 million, accounting for 15.0% of the market share. 
• In 2021, on the basis of end user, the commercial segment acquired $4,577.2 million, exhibiting 70.0% of the global market share. 
• In 2021, on the basis of distribution channel, the hypermarket and supermarket segment acquired $2,287.7 million, exhibiting 35.0% of the global market share. 
• U.S. was the most prominent market in North America in 2021, and is projected to reach $3,628.3 million by 2031, growing at a CAGR of 6.3% during the forecast period.