Leading Supplier of Massagers for International Brand and Retail Markets
The global electric massager market is experiencing significant growth, with an estimated increase of USD 10.84 billion at a CAGR of 9.45% between 2023 and 2028 . This surge is attributed to the rising number of stress-related cases worldwide, leading to an increased awareness of the health benefits of massage therapy for stress management and overall wellness .
Market Drivers and Trends
Health and Wellness Trends: The market is driven by the increasing trend of health activities and self-help, with alternative health practices like massage therapy gaining popularity . Electric massagers offer various health benefits such as improved blood circulation, stress and anxiety relief, muscle relaxation, lower blood pressure, enhanced sleep, and potential weight loss .
Internet Platform Leverage: The use of internet platforms to create awareness and facilitate sales is a key trend in the market . This has been particularly effective in reaching a broader audience and generating higher revenues.
Market Segmentation and Regional Insights
The market is segmented into product types such as massage chairs, back massagers, and neck and shoulder massagers . The massage chairs segment is estimated to witness significant growth during the forecast period due to the increasing popularity of health activities and self-help .
Regional Contributions: Europe is estimated to contribute 38% to the growth of the global market during the forecast period . The penetration of electric massagers in emerging economies presents a significant growth opportunity, as the demand for affordable and convenient health and wellness solutions is high .
Challenges in the Market
Penetration in Emerging Economies: One of the key challenges affecting market growth is the penetration of electric massagers in certain regions like South America, Africa, and parts of Asia . Factors such as insufficient awareness, affordability, and reluctance to adopt new technologies hinder their adoption in developing countries .
Key Companies and Competitive Landscape
Companies like Beurer GmbH, Casada International GmbH, Compass Health Brands, and others are implementing various strategies to enhance their presence in the market . These include strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches .
Product Innovations and Consumer Preferences
Massage Guns: Massage guns are gaining popularity for their ability to provide relief from muscle pain and physical activities-induced tension . Products like Opove’s Apex Massage Gun and Ekrin Athletic’s B37 Percussion Massager are praised for their quiet operation, compact design, and effective relief of muscle tension .
Consumer Preferences: Consumers are increasingly prioritizing personal care expenditures for their overall well-being, with millennials driving the demand for self-care and online retail platforms .
Topic-Related Questions and Answers
Q1: What is the expected growth of the electric massager market?
A1: The electric massager market size is forecast to increase by USD 10.84 billion, at a CAGR of 9.45% between 2023 and 2028 .
Q2: What are the key drivers of the electric massager market?
A2: The key drivers include the rising number of stress-related cases globally, increasing awareness of health benefits of massage therapy, and the leveraging of the internet platform to create awareness and facilitate sales .
Q3: Which region is expected to contribute the most to the growth of the global market?
A3: Europe is estimated to contribute 38% to the growth of the global market during the forecast period .
Q4: What are the challenges faced by the electric massager market in emerging economies?
A4: The challenges include insufficient awareness, affordability, and reluctance to adopt new technologies in developing countries .
Q5: Which product segment is expected to witness significant growth?
A5: The massage chairs segment is estimated to witness significant growth during the forecast period due to the increasing popularity of health activities and self-help .