Yahoo HomeLuxury Massage Chair Market size to grow by USD 242.01 Mn | Europe to emerge as key market | Technavio
NEW YORK, June 29, 2022 /PRNewswire/ -- The global luxury massage chair market size is expected to increase by USD 242.01 million between 2020 and 2025. The market observed a YOY growth of 2.35% in 2021 and the growth momentum is expected to accelerate at a CAGR of 3.25% during the forecast period. The report highlights Europe as the key market for luxury massage chairs. The high awareness of the potential applications of massaging in Central and Eastern Europe are driving the demand for luxury massage chairs in the region.
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Vendor Landscape
The global luxury massage chair market is fragmented, and the degree of fragmentation will accelerate during the forecast period. The market is characterized by the presence of multiple established players and a wide array of products that make it intensely competitive. The vendors are competing based on factors such as price, quality, brand, and variety and are adopting different strategies to increase their market share.
Growing work-related stress and the need for stress-relieving solutions have been instrumental in driving the growth of the market. However, the impact of the COVID-19 pandemic might hamper the market growth. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. AJX. Inc, Aojiahua Intelligent Health Technology Group Co. Ltd., Family Inada Co. Ltd., Johnson Health Tech Inc., JSB Health & Fitness Pvt. Ltd., Medical Breakthrough, OSIM International Pte. Ltd., OTA World LLC, Panasonic Corp., and Shanghai Rongtai Health Technology Co. Ltd. are among some of the major market participants.
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Global Luxury Massage Chair Market 2021-2025: Segmentation
The global luxury massage chair market is segmented as below:
End-user
The demand for luxury massage chairs from the residential end-users will be significant during the forecast period. The growth of the segment is driven by the privacy offered by luxury massage chairs during therapies at home. Also, a large number of individuals do not feel comfortable in the massage sessions at massage parlors due to safety concerns. These factors are increasing the adoption of luxury massage chairs among residential end-users.
Distribution channel
The offline distribution channel segment will account for the maximum sales during the forecast period. The growth of the segment can be attributed to business expansion and the rising number of organized retail stores such as hypermarkets, supermarkets, and department stores.
Geography
Europe will emerge as the key market for vendors operating in the market. About 37% of the market growth is expected to originate from the region. Factors such as new product launches and increasing consumer spending on convenience products such as luxury massage chairs are driving the growth of the regional market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The global luxury massage chair market report covers the following areas:
Global Luxury Massage Chair Market 2021-2025: Key Highlights
CAGR of the market during the forecast period 2021-2025
Detailed information on factors that will assist global luxury massage chair market growth during the next five years
Estimation of the global luxury massage chair market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the global luxury massage chair market
Analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of global luxury massage chair market vendors
Related Reports
Global Luxury Massage Chair Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2020 |
Forecast period | 2021-2025 |
Growth momentum & CAGR | Accelerate at a CAGR of 3.25% |
Market growth 2021-2025 | USD 242.01 million |
Market structure | Fragmented |
YoY growth (%) | 2.35 |
Regional analysis | North America, Europe, APAC, South America, and MEA |
Performing market contribution | Europe at 37% |
Key consumer countries | US, Germany, UK, China, Italy, and Japan |
Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
Companies profiled | AJX. Inc, Aojiahua Intelligent Health Technology Group Co. Ltd., Family Inada Co. Ltd., Johnson Health Tech Inc., JSB Health & Fitness Pvt. Ltd., Medical Breakthrough, OSIM International Pte. Ltd., OTA World LLC, Panasonic Corp., and Shanghai Rongtai Health Technology Co. Ltd. |
Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents:
1 Executive Summary
2 Market Landscape
2.1 Market ecosystem
2.2 Value chain analysis
3 Market Sizing
3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2020
3.4 Market outlook: Forecast for 2020 - 2025
4 Five Forces Analysis
4.1 Five forces summary
4.2 Bargaining power of buyers
4.3 Bargaining power of suppliers
4.4 Threat of new entrants
4.5 Threat of substitutes
4.6 Threat of rivalry
4.7 Market condition
5 Market Segmentation by End-user
5.1 Market segments
5.2 Comparison by End-user
5.3 Residential - Market size and forecast 2020-2025
5.4 Commercial - Market size and forecast 2020-2025
5.5 Market opportunity by End-user
6 Market Segmentation by Distribution channel
6.1 Market segments
6.2 Comparison by Distribution channel
6.3 Offline - Market size and forecast 2020-2025
6.4 Online - Market size and forecast 2020-2025
6.5 Market opportunity by Distribution channel
7 Customer landscape
8 Geographic Landscape
8.1 Geographic segmentation
8.2 Geographic comparison
8.3 Europe - Market size and forecast 2020-2025
8.4 North America - Market size and forecast 2020-2025
8.5 APAC - Market size and forecast 2020-2025
8.6 South America - Market size and forecast 2020-2025
8.7 MEA - Market size and forecast 2020-2025
8.8 Key leading countries
8.9 Market opportunity by geography
9 Drivers, Challenges, and Trends
9.1 Market drivers
9.2 Market challenges
9.3 Market trends
10 Vendor Landscape
10.1 Overview
10.2 Landscape disruption
11 Vendor Analysis
11.1 Vendors covered
11.2 Market positioning of vendors
11.3 AJX. Inc
11.4 Aojiahua Intelligent Health Technology Group Co. Ltd.
11.5 Family Inada Co. Ltd.
11.6 Johnson Health Tech Inc.
11.7 JSB Health & Fitness Pvt. Ltd.
11.8 Medical Breakthrough
11.9 OSIM International Pte. Ltd.
11.10 OTA World LLC
11.11 Panasonic Corp.
11.12 Shanghai Rongtai Health Technology Co. Ltd.
12 Appendix
12.1 Scope of the report
12.2 Currency conversion rates for US$
12.3 Research methodology
12.4 List of abbreviations
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