Global Massage Chairs Market Projected to Exceed $9 Billion by 2030, Reports MarkWide Research
According to a new report published by MarkWide Research, titled, “Global Massage Chairs Market,” the worldwide massage chairs market is poised for significant growth, with a projected market value exceeding $9 billion by the year 2030. This remarkable expansion is driven by the increasing focus on relaxation and wellness, rising stress levels, and the desire for home-based massage solutions.
Market Overview:
Massage chairs are specialized seating units equipped with massage mechanisms designed to provide relaxation, stress relief, and therapeutic benefits to users. They are gaining popularity in both residential and commercial settings, offering convenience and comfort.
Key Market Insights:
- Wellness and Stress Relief: The primary driver of the massage chairs market is the growing emphasis on wellness and stress relief. Modern lifestyles often lead to stress and discomfort, driving the demand for home-based massage solutions.
- Advanced Technology: Massage chair manufacturers are incorporating advanced technology, such as zero-gravity seating, air compression massage, and customizable settings, to enhance user experiences and therapeutic benefits.
- Aging Population: An aging global population is contributing to the market’s growth, as massage chairs offer relief from age-related ailments like muscle stiffness and joint pain.
Market Forecast and Growth Prospects:
The global massage chairs market is expected to demonstrate robust growth, with a projected CAGR of over 7% during the forecast period, 2023-2030. The market, valued at approximately $4.5 billion in 2022, is anticipated to exceed $9 billion by 2030. This growth trajectory is driven by the increasing adoption of massage chairs in homes and workplaces and the growing awareness of their health benefits.
Challenges and Opportunities:
Challenges in the massage chairs market include price sensitivity, competition, and the need to meet varying consumer preferences. Opportunities lie in product innovation, expanding distribution channels, and entering emerging markets with a focus on wellness.
Regional Analysis:
- North America: North America is expected to lead the massage chairs market, driven by consumer awareness of wellness benefits and a growing number of massage chair manufacturers in the region.
- Europe: Europe is another substantial market, characterized by a focus on health and wellness, contributing to the adoption of massage chairs.
- Asia-Pacific: The Asia-Pacific region, including countries like Japan and China, is witnessing rapid growth due to cultural acceptance of massage therapies and increasing disposable incomes.
Competitive Landscape:
Prominent players in the global massage chairs market include Panasonic Corporation, OSIM International Ltd., Inada Co., Ltd., and Human Touch, LLC, among others. These companies offer a range of massage chair models with various features to cater to different consumer needs.
Conclusion:
The global massage chairs market is on a trajectory of growth, driven by the increasing emphasis on relaxation, wellness, and stress relief. With a focus on advanced technology, user comfort, and therapeutic benefits, massage chairs continue to play a pivotal role in promoting well-being.