Massage Oil Market Size Growing At a CAGR of 10.5%, is Projected to Reach $8.1 Billion by 2021-2031

According to a new report published by Allied Market Research, titled, "Massage Oil Market," The Massage Oil Market Size was at $3 billion in 2021, and is estimated to reach $8.1 billion by 2031, growing at a CAGR of 10.5% from 2022 to 2031. The report offers an extensive analysis of changing market trends, key segments, top investment pockets, regional scenario, Porter's Five Forces, and competitive scenario.

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Rise in inclination of customers preference toward health living, increase in literacy rate among customers, increase in knowledge about the benefits of massage oil, extensive application for the treatment of various chronic injuries such as sports or accidental injuries, and surge in its application of reducing stress and increasing relaxation are expected to drive the growth of the global massage oil market.

The global massage oil market is segmented on the basis of product, end-user, application, distribution channel, and region. On the basis of product, the market is classified into almond oil, coconut oil, citrus oil, and others. Almonds make up the biggest part of the market, and this is expected to stay during the forecast period. The growth of the almond massage oil segment is attributed to the nourishment and health benefits provided by almond massage oils. However, the others segment is anticipated to grow in the future.

There has been a significant increase in the literacy rate and people are more educated and aware of the benefits of health care products such as massage oils, which aid in the treatment of various muscle disorders and diseases such as sore muscles and normal muscle pain. Oils are also used in different treatments of accidental injuries such as car accidents or injuries to soldiers at work. Many times, car accidents may lead to internal and soft tissue damage. Many physiotherapists use body massage oils such as almond and jojoba oil in the treatment of chronic accidental injuries are some of the Massage Oil Market Trends.

Depending on the end user, the market is bifurcated into adults and babies. Among these, the adult's segment occupied a major Massage Oil Market share and is projected to maintain its dominance during the forecast period. This is attributed to growing awareness related to various benefits of massage among adults, along with a rising in a number of adults using spa and wellness services to maintain overall well-being

By distribution channel, the market is categorized into supermarkets and hypermarkets, specialty stores, E-commerce, and others. The specialty stores segment is anticipated to grow at the highest CAGR during the forecast period, owing to availability of various discounts and personal experiences.

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Based on application, the spa and wellness centres segment held the dominating market share in 2021, holding more than half of the global market, and isexpected to maintain its leadership status during the forecast period. The medical therapeutics segment, on the other hand, is expected to cite the fastest CAGR of 11.5% during the forecast period.

In 2021, North America accounted for 42.3% of the global oil massage market and is expected to maintain its dominance during the forecast period. However, Europe and Asia-Pacific are expected to possess the highest CAGRs of 10.3% and 15.9%, respectively, owing to rise in health concerns among people and an increase in the popularity of oil massage in these regions.

The key players analyed in the global massage oil market report include Dabur International Limited, Fabulous Frannie, Forest essentials, Frontier Co-op, Himalaya Global Holdings Ltd., Indus Valley, Kama Ayurveda, Majestic Pure Cosmeceuticals, Mambino Organics, Mountain Rose Herbs, Natura & Co, Now foods, Performance Health, Soothing Touch, and Young Living Essential oils.

Key findings of the study:

○ The basis of product type, the almond oil segment dominated the market in the 2021.
○ Basis of end user, the adults segment is expected to be the fastest growing segment, with a CAGR of 10.9% during the forecast period.
○ On the basis of application, the medical therapeutics segment is expected to be the fastest growing segment, with the a of 11.5% during the forecast period.
○ The basis of distribution channel, the e-commerce segment is likely to be the fastest growing segment with the CAGR of 12.4% during the forecast period.
○ Region wise, North America dominated the global massage oil market during the forecast period of 2022 to 2031.

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