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Electric Massagers Market Size is Estimated to Reach $7.9 Billion by 2031 | North America Segment Dominates the Global Market
Electric Massagers Market
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The Electric Massagers Market Size was valued at $4.2 billion in 2021, and is estimated to reach $7.9 billion by 2031, growing at a CAGR of 6.5% from 2022 to 2031.
Surge in the beauty industry, increase in awareness among individuals to give necessary attention to physical wellbeing, increase in the standard of living among people, and growth of the online retail platforms are expected to drive the growth of the global electric massagers market. On the other hand, availability of alternatives is expected to hinder the growth to some extent. However, persistent technological advancements in electric massagers are expected to create ample opportunities for the industry.
The availability of non-electrical massagers is the key factor projected to hinder the growth of the electrical massage market. Furthermore, the low penetration of electric massagers in many underdeveloped countries is a challenging factor that can affect the Electric Massagers Market Growth. Some consumers perceive electric massagers are as a premium product to relieve tension or to treat specific injuries are some of the factors which may hinder the growth of the electric massagers market.
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In addition, massage treatment from massage specialist is another alternative of electric massagers Approximately 47.5 million people had a total of 214 million massages in the U.S. in the year 2018. More than 50 million American adults have discussed massage therapy with their doctors or health care providers in the previous year. Therefore, availability of various alternatives is hampering the market growth of electric massagers.
The electric massagers market is segmented on the basis of type, end user, distribution channel, and region. On the basis of type, the Electric Massagers Industry is categorized into back & body massagers, leg & foot massagers, neck & shoulder massagers, head massagers and others. On the basis of end user, the market is categorized into residential and commercial. On the basis of distribution channel, it is fragmented into supermarket/hypermarket, specialty stores, online sales channel and others. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, Russia and rest of Europe), Asia-Pacific (China, India, Japan, Australia & New Zealand, South Korea, ASEAN and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, Turkey, South Africa, and rest of LAMEA).
Based on end user, the commercial segment held the largest market share in 2021, holding more than two-third of the global market. The residential segment, on the other hand, is predicted to cite the fastest CAGR of 7.4% during the forecast period.
Based on distribution channel, the hypermarkets and supermarkets segment held the dominating market share in 2021, garnering more than one-third of the global market. The online sales channel, on the other hand, is predicted to cite the fastest CAGR of 8.5% during the forecast period.
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Based on region, the market across North America held the lion's share in 2021, holding more than one-third of the global market. The Asia-Pacific region, on the other hand, is predicted to cite the fastest CAGR of 7.6% during the forecast period.
The key players analyzed in the global electric massagers market report include Dr. Physio, LG Electronics Inc., LURACO Technologies Corporation, Medisana GmbH, MedMassager, Omron Corporation, and Panasonic Corporation.
Key Benefits For Stakeholders:
• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the electric massagers market analysis from 2021 to 2031 to identify the prevailing electric massagers market opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the electric massagers market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global electric massagers market trends, key players, market segments, application areas, and market growth strategies.
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