Global Massage Oil Market to Reach $8.1 Billion by 2031: Allied Market Research - GlobeNewswire

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Portland, OR, Sept. 22, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global massage oil market generated $3 billion in 2021, and is projected 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, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape, and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.

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Report coverage & details:

Report Coverage	Details
Forecast Period	2022–2031
Base Year	2021
Market Size in 2021	$3 billion
Market Size in 2031	$8.1 billion
CAGR	10.5%
No. of Pages in Report	340
Segments Covered	Product type, Application, End-User, Distribution Channel, And Region.
Drivers	Rise in inclination of customers preference toward health living
Increase in knowledge about the benefits of massage oil among people
Opportunities	Extensive application for the treatment of various chronic injuries such as sports or accidental injuries,
Surge in application for reducing stress and increasing relaxation

COVID-19 Impact

• The outbreak of COVID-19 has had a negative impact on the growth of the global massage oil market, owing to the presence of lockdowns in numerous countries around the world.
• Lockdowns led to the closure of various hair salons, massage parlors, spasand other wellness centers which adversely impacted the growth of the market.
• In addition, shortage of raw materials and irregular demand and supply further added to the impact of the market. Hence, ban on the import and export of goods were 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 detailed segmentation of the global massage oil market based on product type, application, end-user, distribution channel, and region.The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategiesbased on the fastest growing segments and highest revenue generation that is mentioned in the report.

Based on product type, the almond oil segment held the largest market share in 2021, holding nearly half of the global market, and is expected to maintain its leadership status during the forecast period. The coconut oil segment, on the other hand, is expected to cite the fastest CAGR of 12.2% during the forecast period.

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Based on application, the spa and wellness centres segment held the dominating market share in 2021, holding more than half of the global market, and isexpected to maintain its leadership status during the forecast period. The medical therapeutics segment, on the other hand, is expected to cite the fastest CAGR of 11.5% during the forecast period.

Based on distribution channel, the specialty stores segment held the largest market share in 2021, holding more than two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The e-commerce segment, on the other hand, is expected to cite 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 leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 15.9% during the forecast period.

The key players analyed in the global massage oil market report include 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 foods, Performance Health, Soothing Touch, and Young Living Essential oils.

The report analyzes these key players in the global massage oilmarket. These market players have made effective use of 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 helpful in analyzingrecent developments, product portfolio, business performance, and operating segments by prominent players in the market.

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.