Massage Oil Market Registers 1.5X Growth amid COVID-19 Impact

High work pressure and a hectic lifestyle is increasing the adoption of massage therapies on a regular basis. This is spurring sales of massage oils. The sales of massage oil market will grow 1.5X during the projection period (2020 – 2030). Increasing consumer awareness about medical benefits of massage oil such as improved blood circulation, and relaxation is driving the demand for massage therapy. Growth of the massage oil market is dependent on continuous medical research that substantiates its benefits. Hence, organizations are investing in developing products that follow international quality standards.

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Key Trends of Massage Oil Market Study

• Europe leads global sales with more than 35% share of the total market value. Penetration of spa & wellness centres in countries such as the UK, France, and Italy are strengthening market growth in this region.
• Spa & Wellness Centers are the most financially rewarding applications of massage oil products. The application segment holds overs 54% share of the total market revenues.
• Increasing support from the medical community in terms of research and patient referrals from chiropractors position medical therapeutics as a high growth application. The segment will continue to generate revenues at an impressive ~6% CAGR through 2030.
• Adults form the maximum number of consumers of massage oils. The adult consumer demographic accounts for a lion’s share of over 77% of the total market sales. Hectic lifestyles paired with higher disposable income are major drivers of growth in this segment.
• Growth in the number of millennial parents is driving the demand for massage oils for baby massage. This consumer demographic segment presents a strong 7% CAGR through 2030.
• Almond oil offers the most lucrative growth opportunities with a significant 6% CAGR during the forecast. Easy availability of raw material, and health benefits drive the demand from this product type.

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Global Massage Oil Market: In-Depth Assessment on Key Segments

The global massage oil market is segmented on the basis of product, demographic, application, and region.

Product

• Olive
• Almond
• Coconut
• Citrus
• Others

Demographic

• Adult
• Baby

Application

• Spa and Wellness Centers
• Medical Therapeutics
• Others

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Healthcare Applications- Key Growth Areas

Growing prevalence in healthcare applications is a central factor that drives massage oil sales. A study by the American Massage Therapy Association (ATMA) found that more than 1/2 of customers engage in massage therapies as a part of health conditions such as injury rehabilitation and pain management. Frequent initiatives from the International Massage Association (IMA) present favorable growth opportunities for market players. For instance, the IMA organized the world championship of massage in June 2019. The event presents opportunities for massage oil manufacturers to forge financially rewarding connections. However, due to the current COVID-19 pandemic, this year’s world championship may be postponed to the second half of 2020.

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