Analysis of Massage Oil market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Intensive awareness campaigns by international associations such as the America Massage Therapy Association (AMTA), and the International Massage Association (IMA) will present favorable growth opportunities for the massage oil market. The global massage oil market exhibits a steady growth trajectory with 5% CAGR during the forecast period (2020-2030).
Increasing recognition from the chiropractor community contributes significantly to massage therapy revenue. Prevalence of holistic healthcare for pain management, and physical injuries will continue to bolster growth for massage therapies, and massage oils.
Tech-driven advancements in extraction processes equip manufacturers with the right set of tools to garner sales. Market players are differentiating products on essential oil ingredients and product packaging.
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Spa & Wellness centers account for the largest market value share with over 54% revenues coming from this application segment. Further, the increasing awareness about the medical benefits of massage therapy play an important role in the growth of the massage oil market.
On this backdrop, the medical therapeutics application segment offers the most remunerative opportunities with an impressive 6% CAGR through 2030. Uptake in medical research of massage therapies such as deep tissue, Thai, and Swedish massage, acts as a central factor for adoption of massage oils in medical therapeutics.
Surging number of health conditions such as prenatal depression, autism, hypertension, dementia, and Parkinson’s syndrome warrant the use of massage therapy and massage oils from the medical community.
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Europe holds more than 35% share of the total market value. Increasing disposable income of millennial consumers gives massage therapists the opportunity to attract, engage, and delight customers. Rapid expansion of spa salons in countries such as the UK, France, Italy, and Germany drive demand from this region.
Golf ball, hot stone, lymphatic, and sports massage are a few eminent massage therapies that generate maximum demand for massage oils. Prosperous opportunities can be seen in Asia Pacific countries with a flourishing digital economy.
Countries such as Indonesia, India, Singapore, and Malaysia are witnessing an increase in disposable income of consumers. When coupled with rising work pressure and hectic lifestyles, consumers are likely to increase spending on massage therapies.
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COVID-19 limits growth potential considerably. Stores, and public facilities are under the microscope of medical authorities. Brick and mortar retail has come to a standstill in many countries.
For instance, Italy has the maximum number of COVID-19 cases, and the government has imposed strict lock-down measures resulting in the closure of spa & wellness centers, and medical therapy centers. Similar situations across the globe pose strong restraints to the growth of the massage oils market during the forecast period.
Manufacturers will find gainful opportunities in developing countries with low COVID-19 impact such as India. These countries will resume business as usual sooner than other regional markets.
Considering the adverse effect of COVID-19 pandemic, market players are shifting their focus on streamlining production processes, and installing stringent quality standards to ensure consumer safety. Online distribution channels will be a top priority for major players.
Consumer trends such as social distancing will result in the uptake of online modes of shopping as consumers look to avoid crowded areas. Enhancements in retail store experience by restructuring the store layouts of spa & wellness centres, and medical massage therapy centres is a financially rewarding initiative.
The recovery post COVID-19 is dependent on various stakeholders of the massage oil market such as raw material suppliers, customers, trade regulations of import and export routes. However, massage oil manufacturers can utilize this situation to establish an online presence.
Social media, video streaming, and online shopping have gained significant traction for every type of product. Effective content marketing strategies will support massage oil manufacturers withstand the COVID-19 impact on world economy.
Competition in the massage oil market is driven by capacity expansion and strengthening the raw material supply chain. Industry leading organizations are capturing profitable revenues by forging strategic partnerships with vendors and investing in online distribution channels.
Differentiating products based on essential oils, aroma, and discounts are most popular strategies. Major players that shape the competitive landscape of the massage oil market are, but not limited to, Bon Vital, Fabulous Frannie, The Body Shop,Biotone, Bath & Body Works, Aura Cacia, Master Massage, The Himalaya Drug Company, Natural Bath and Body Products, and Raven.
The global massage oil market is segmented on the basis of product, demographic, application, and region.
This taxonomy and the detailed TOC prepared are confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than the addressee(s) is unauthorized and prohibited.
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The global massage oil market expects a steady growth with 5% CAGR during the forecast period.
The spa & wellness center segment accounts for the largest market value share with over 54% of revenue share.
Europe brings the majority sales by holding more than 35% share of the total market value.
Golf ball, hot stone, lymphatic, and sports massage are a few eminent massage therapies that generate maximum demand for massage oils.
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