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The luxury massage chair market size is estimated to grow at a CAGR of 3.41% between 2022 and 2027. The market size is forecast to increase by USD 287.2 million.
Growing work-related stress and need for stress-relieving solutions is the key factor driving the growth of the market. Several studies have shown that the increasing prevalence of health problems such as obesity, high blood pressure, depression, poor circulation, and anxiety are caused by work-related stress. Therefore, due to the awareness of the health benefits associated with the use of massage chairs, there is a growing demand for health and fitness products such as luxury massage chairs. The massage chair stimulates blood circulation, relieves pain, relaxes muscles, and releases good hormones like endorphins and serotonin that help to relax and reduce stress in the mind. In addition, massage chairs also help relax tired muscles, relieve nerve and muscle pain, and help to loosen tight muscles. The demand for these health and fitness products is expected to drive the growth of the market during the forecast period.
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Shiatsu massage is a Japanese massage therapy that combines massage techniques using the fingers, thumbs and palms to stretch, move, and mobilize joints. It involves putting pressure on the affected areas of the body, leading to physical and mental health, treatment of disease, and relief from discomfort. Moreover, as the Shiatsu massage technique is difficult for individuals or masseurs all over the world, some manufacturers are designing luxury electric massage chairs with the Shiatsu massage model in mind. Shiatsu electric massage chair model has six features such as rolling, compressing, knocking, kneading, knocking, and pounding. Hence, these trends will drive the growth of the market.
Penetration of high-end massage chairs is low in South America, Africa, and other APAC countries (except Japan). Currently, a large number of households in the US use luxury massage chairs, but penetration rates are still low in developing countries, such as Brazil and Nigeria. This is mainly due to a lack of awareness, affordability, and reluctance to use these products. Furthermore, the growth of the market, especially in developing countries, is affected by the lack of adequate infrastructure. Although very beneficial, the use of these products is hindered by lack of skilled and trained manpower, inadequate facilities, accessibility, lack of investor-friendly policies Investment, bureaucratic barriers, and lack of international recognition lead to low adoption rates. Hence, these factors will hinder the growth of the market.
The market share growth by the offline segment will be significant during the forecast period. Luxury massage chairs are largely sold through offline distribution channels, including various retail formats such as specialty stores, dealers, hypermarkets, supermarkets, brand-owned retail stores, and department stores. To drive sales through offline channels, market players direct their sales through local retailers. They also increase sales by implementing different marketing strategies
The offline segment was valued at USD 1,241.54 million in 2017.
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Prominent market players are selling their products through specialized stores as it is a convenient retail channel for end-users and sellers. Manufacturers depend on these retail outlets and plan budgets for marketing, advertising, and promotion activities to create product and brand visibility among customers. Sales of luxury massage chairs are expected to increase at these stores as the stores display a wide range of luxury massage chairs that vary in price from minimum to maximum, touch features, product categories, and products from several brands. Hence, these factors will drive the growth of the segment during the forecast period.
The continued popularity of smartphones and the Internet accounts for the growing preference for online shopping. Omnichannel retail is another growing trend among those selling high-end luxury massage chairs to generate high revenue. The popularity of online shopping has helped to expand the reach of luxury massage chair manufacturers without the need for physical stores. Furthermore, market players are expanding their distribution networks by partnering with third-party e-retailers to increase their online sales and expand their geographical presence. The move to online retail means huge opportunities for existing suppliers. E-commerce platforms not only allow customers to compare and gather information on luxury massage chairs from different brands but also provide a forum for them to provide valuable product feedback through reviews and ratings. Hence, such benefits of this segment will grow the market during the forecast period.
The global luxury residential massage chair market is surging due to the privacy they offer for home therapies. Safety concerns have led people to prefer these chairs over public massage parlors. Brands like Relaxonchair's MK-II Plus are leading the way with advanced features like L-Track massage, automatic programs, targeted massages, and easy controls. This trend is expected to drive market growth significantly.
The commercial luxury massage chair market serves offices, hotels, clinics, malls, and airports. It generates substantial revenue due to high product prices. Companies aiming to enhance employee satisfaction and productivity fuel demand. Players like Medical Breakthrough LLC provide physician-recommended products, such as luxury chairs for clinics. These factors will propel market growth.
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Additionally, several commercial properties in Europe are installing luxury massage chairs on their premises to attract more customers and provide a better experience. Moreover, the increasing preference of customers for online retailing is the latest trend in the massage chair market in European countries due to the enhanced penetration of the internet and smartphones. Manufacturers and retailers have started selling a full range of massage chair products through their online portals. Therefore, such factors are expected to drive the growth of the market in the region during the forecast period.
In 2020, COVID-19 negatively affected the growth of the regional luxury massage chair market. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown restrictions, which led to the resumption of supply chain activities. Moreover, consumers in the region prefer using massage chairs to promote emotional stability along with physical well-being. Therefore, due to the high preference for wellness, the market will grow in the region during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Luxury Massage Chair Market Scope |
|
Report Coverage |
Details |
Page number |
157 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.41% |
Market growth 2023-2027 |
USD 287.2 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
2.92 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
APAC at 32% |
Key countries |
US, China, Germany, UK, and Italy |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
body fit Pvt. ltd., Casada International GmbH, Daiwa Massage, Dr.Care International Inc., Family Inada Co. Ltd., FUJI MEDICAL INSTRUMENTS Mfg. Co. Ltd., Human Touch LLC, Infinite Creative Enterprises Inc., iRobo Wellness Pvt. Ltd., Johnson Health Tech Co. Ltd., JSB Wellness, Medical Breakthrough, Ogawa World USA LLC, Online and Ltd., OTA World LLC, Panasonic Holdings Corp., Shanghai Rongtai Health Technology Co. Ltd., V3 Group Ltd., Vitalizer International AG, and Zarifa Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
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