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Massage Equipment Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global massage equipment products market was valued at USD 14.3 billion in 2021 and is expected to expand at a CAGR of 8.3% from 2022 to 2030. The rising demand for massage therapy as a form of relaxation and healing has driven the growth of the market. Massage therapy is gaining attention as a way to reduce stress and enhance overall well-being, which is contributing to the growing demand for massage equipment products. Massage chairs and massage tables are the most commonly used massage equipment products.
The growing preference for massage chairs and massage tables due to their portability and convenience is a major factor driving the growth of the massage equipment products market. In addition, technological advancements in massage equipment such as 3D massage rollers, heat therapy, and zero gravity functions have led to an increase in demand for these products. For instance, in April 2021, Inada launched a new massage chair, the Inada X5, with features such as air compression, shiatsu massage, and 3D massage rollers.
Furthermore, the rising adoption of massage therapy in the corporate sector is expected to contribute to the growth of the market. Employers are increasingly offering employees massage therapy as a part of their employee wellness programs. For instance, in May 2021, the software giant Oracle unveiled a comprehensive wellness program for its employees that includes massage therapy, yoga, and traditional Chinese medicine.
In addition, the increasing focus on health and wellness and the growing demand for spa treatments and services are driving the growth of the market. Spa and wellness businesses are increasingly investing in massage equipment products to improve the customer experience. For instance, in March 2021, the spa and wellness provider Sothys launched a new massage table with a unique design and advanced features such as a built-in heating system and adjustable height settings.
Moreover, the growing popularity of massage among athletes is expected to propel the demand for massage equipment products. Massage therapy is increasingly being used to treat sports-related injuries and improve performance. As such, athletes are increasingly relying on massage equipment products for recovery and relaxation. For instance, in June 2021, the professional basketball team Los Angeles Lakers announced a partnership with the massage chair manufacturer Luraco Technologies to provide massage chairs to the players.
Product Insights
The massage chair segment is anticipated to grow at the fastest CAGR of 5.4% over the forecast period. Rising preference for massage chairs among consumers due to its convenience and portability is a major factor driving the segmental growth. Massage chairs provide a relaxing and comfortable massage experience, which is further driving the growth of the segment.
Furthermore, the rising trend of home-based massage sessions is one of the key factors augmenting the demand for massage chairs. According to an article published by the National Center for Biotechnology Information, in December 2019, around 8.3 million people in the US used massage therapy services in the past 12 months. Moreover, the growing demand for massage chairs in spas and massage centers is further propelling the market growth.
Distribution Channel Insights
The offline segment accounted for the major share of the massage equipment products market in 2022. The offline distribution channel includes retail stores, supermarkets, hypermarkets, and department stores. The increasing demand for massage chairs and massage tables, along with the growing number of specialty stores offering massage products, are expected to drive the growth of the offline distribution channel. The presence of a wide range of massage products, attractive discounts, and after sales service are the factors boosting the growth of the segment.
The online segment is expected to register the highest CAGR of 11.8% in the massage equipment products market during the forecast period. The rising trend of online shopping for massage products, along with the convenience of purchasing from the comfort of the home, is driving the growth of the segment. The presence of a wide range of massage products on various e-commerce websites and the increasing focus of manufacturers on online platforms are expected to further propel the growth of the segment.
Type Insights
The commercial segment accounted for the largest revenue share of 55.6% in the year 2022. The commercial segment comprises massage products used in spas, salons, and clinics. Massage products such as massage chairs, massage beds, and massage tables are used in these establishments. The increasing number of spas and salons, along with the growing popularity of massage treatments, is driving the demand for massage products in commercial establishments. Additionally, the rising trend of health consciousness among the working class population is also expected to drive the demand for massage products.
The homecare segment is anticipated to expand at the highest CAGR of 6.8% over the forecast period. The increasing affordability of massage products, such as massage chairs and massage tables, has resulted in their increased adoption in homecare settings. Moreover, the availability of online portals providing discounts and attractive offers on massage products has made them more accessible to the general population. This is likely to drive the market for homecare massage products.
Regional Insights
Europe is expected to dominate the massage equipment product market over the forecast period. Increasing demand for massage therapy and its associated products, such as massage chairs, massage tables, massage oils, and massage cushions, is driving the growth of the market in Europe. In addition, the presence of key industry players, such as Beurer GmbH, is further estimated to fuel the growth of the massage equipment product market in the region.
Asia Pacific is estimated to be the second-largest market over the forecast period. The presence of a large population base and increasing disposable incomes of people are the key factors driving the growth of the massage equipment product market in the region. In addition, increasing health consciousness among people and rising awareness regarding massage therapy are also estimated to drive the demand for massage equipment in the region.
Financial Projections
In this part of the massage equipment products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for the massage equipment products business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for the massage equipment products business comes from the sale of massage equipment, related accessories, and services such as installation and maintenance. Here you will find a list with a description of each of them and other possible sources of profit such as online sales, wholesale, and bulk orders.
Projecting Expenses
In this section, all the regular expenses related to keeping the massage equipment products business running will be described. The list of operating expenses includes rent, wages, maintenance and repairs, utilities, insurance policies, advertising, and others.
Key companies & market share insights
Some of the key companies operating in the massage equipment market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In June 2022, HoMedics launched the Shiatsu Pro Extreme, a massage chair designed for a deep tissue massage experience.
– In August 2022, Human Touch launched the Perfect Chair PC-610 Omni-Motion massage chair, designed to provide a full-body massage.
– In October 2022, Panasonic launched the EP-MA70 massage chair with a built-in air purification system.
Some of the prominent players in the massage equipment market include:
– HoMedics
– Human Touch
– Panasonic
– Osaki
– Luraco Technologies
– Inada
– Fujikura
– Cozzia
– OGAWA
– Dynatronics Corporation
Global Massage Equipment Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global massage equipment products market based on product, type, application, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Massage Tables
– Massage Chairs
– Massage Cushions
– Massage Recliners
– Massage Stools
– Others
2. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Electric
– Manual
3. Application Outlook (Revenue, USD Million, 2017 – 2030)
– Home
– Professional
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the Key Drivers of Massage Equipment Market Growth?
[A]: The massage equipment market is primarily driven by the increasing demand from health-conscious individuals, growing spending on spa treatments, and the availability of advanced massage equipment. Moreover, the growing popularity of massage therapy and increased awareness about health benefits have also contributed to the growing demand for massage equipment.
[Q]: Who are the Key Players in the Massage Equipment Market?
[A]: Key players in the massage equipment market include Panasonic Corporation, Hitachi, Ltd., Fujiiryoki Co., Ltd., Robert McNeel & Associates, VOLLUMA, Sanyo Electric Co., Ltd., and others.
[Q]: What are the Major Types of Massage Equipment?
[A]: The major types of massage equipment include electric massage chairs, massage tables and chairs, handheld massagers, and massage cushions, among others.
[Q]: What are the Major End Users of Massage Equipment?
[A]: Major end users of massage equipment include spas and wellness centers, hospitals, clinics, and home users.
[Q]: What Region Offers the Largest Opportunity for Sales of Massage Equipment?
[A]: North America is expected to be the most lucrative region for massage equipment market, accounting for a revenue share of 38.4% in 2020. This is due to the rising number of spas and wellness centers, the presence of leading players in the region, and the availability of advanced massage equipment.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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