Portland, OR, Sept. 22, 2022 (GLOBE NEWSWIRE) — According to the report released by Allied Market Research, the massage oil market generated $3 billion in 2021 and is expected to reach $8.1 billion by 2031, growing at a CAGR of 10.5% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, changing market trends, market size and estimates, value chain, key investment pockets, drivers and opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, early adopters and stockholders in introducing necessary strategies for the future and taking essential actions to significantly strengthen and increase their position in the market.
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Report coverage and details:
|Market size in 2021||$3 billion|
|Market size in 2031||$8.1 billion|
|Number of pages in the report||340|
|Segments Covered||Product type, application, end user, distribution channel and region.|
|Drivers||Increased inclination of customer preference for healthy living|
|Increased knowledge about the benefits of massage oil in people|
|Opportunities||Extensive application for the treatment of various chronic injuries such as sports or accidental injuries,|
|Increased applications to reduce stress and increase relaxation|
Impact of COVID-19
- The COVID-19 outbreak has had a negative impact on the growth of the global massage oils market, owing to the presence of lockdowns in many countries around the world.
- The closures have led to the closure of various hair salons, massage parlours, spas and other wellness centers, which has had a negative impact on the growth of the market.
- In addition, the shortage of raw materials and the irregularity of demand and supply have further aggravated the impact of the market. Therefore, the ban on importing and exporting goods was imposed, which further aggravated the impact on the market.
- These restrictions were imposed by the government to significantly curb the spread of the virus during the pandemic.
The report offers a detailed segmentation of the global massage oils market on the basis of product type, application, end-user, distribution channel, and region. The report provides a comprehensive analysis of each segment and their respective sub-segment with the help of graphs and tables. representation. This analysis can essentially help market players, investors and new entrants to determine and design strategies based on the fastest growing and highest revenue generating segments mentioned in the report.
Based on product type, almond oil segment held the largest market share in 2021, holding nearly half of the global market, and is expected to maintain its leading status during the forecast period. . The coconut oil segment, on the other hand, is expected to quote the fastest CAGR of 12.2% during the forecast period.
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Based on applications, spa and wellness center segment held the dominant market share in 2021, holding more than half of the global market, and is expected to maintain its leading status during the forecast period. The medical therapeutics segment, on the other hand, is expected to quote the fastest CAGR of 11.5% during the forecast period.
Based on the distribution channel, the specialty store segment held the largest market share in 2021, holding more than two-fifths of the global market, and is expected to maintain its leading status during the forecast period. The e-commerce segment, on the other hand, is expected to quote the fastest CAGR of 12.4% during the forecast period.
Based on region, the North America region held the largest market share in 2021, holding more than two-fifths of the global market. The Asia-Pacific region, on the other hand, is expected to maintain its leading status during the forecast period. Also, the same segment is expected to quote the fastest CAGR of 15.9% during the forecast period.
Key players analyzed in the global massage oils market report are 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 food, Performance Health, Soothing Touch and Young Living Essential Oils.
The report analyzes these key players of the global massage oils market. These market players have effectively used strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is useful for analyzing recent developments, product portfolio, business performance, and operating segments of major market players.
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Allied Market Research (AMR) is a full-service market research and business consulting division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unparalleled quality of “Market research reports” and “Business Intelligence Solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
Pawan Kumar, CEO of Allied Market Research, leads the organization in delivering high quality data and insights. We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.