Significant Growth in Wellness Tourism to Propel the Global Massage Oil Market Through...

[massage]

LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global massage oil market is expected to grow at a CAGR of close to 8% during the forecast period.


This research report titled ‘Global Massage Oil Market 2016-2020’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

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The report categorizes the global massage oil market into three major application segments. They are:

• Spa and wellness centers
• Medical therapeutics
• Other

Global massage oil market by spa and wellness centers

The massage oil market by spa and wellness centers was the largest segment in the market in 2015 and it will grow steadily during the forecast period. This growth is mainly attributed to the increasing spa services in hotels, resorts, and other recreational facilities. A significant growth in wellness tourism has also contributed to the popularity of massages in spas and other wellness centers, which has driven the demand for massage oils. Wellness tourism is travel associated with the pursuit of maintaining or enhancing one’s personal well-being.

According to Amber Chourasia, a lead analyst at Technavio for health and wellness, “The global wellness tourism sector is growing at a steady rate. There is a continuous increase in the number of wellness-minded consumers who integrate healthy habits and activities into their travels. This is partly to counter a host of negative, travel-related health impacts such as poor sleep, jet lag, and disruption of healthy eating and exercise.”

Global massage oil market by medical therapeutics

The massage oil market by medical therapeutics segment is increasing its year-over-year growth. The key factor influencing the growth of this segment is the rise in the number of cases of different diseases and disorders related to stress, paralysis, spondylosis, back pain, rheumatism, and arthritis.

In 2014, 800,000 people in Oklahoma, US, were diagnosed with arthritis. Thus, a large number of individuals are opting for massages as a pain relief management for muscles and joints. The self-massage method is also gaining traction, thereby increasing the consumption of oil for massages.

According to WHO, it is expected that by 2050, the number of people over 60 years will have doubled. Some of the common chronic conditions that will severely affect older people are arthritis, heart disease, cancer, and respiratory diseases. Massages will help counter these conditions by reducing stress levels and causing relaxation. They also relieve pain, fatigue, and nausea arising from chemotherapy and surgeries. The rising number of diseases will fuel the market segment and the consumption of massage oils across the world.

Global massage oil market by other

“The other segment consists of revenue generated from various sources such as massages delivered in offices, at homes, during sports, and for education and training purposes. In some cases, individuals opt for self-massages as they allow individuals to customize their oils with specific properties to treat a particular disease or disorder,” says Amber.

According to reports published by the Organisation for Economic Co-operation and Development in Canada, among its 20 member countries, Turkey has the highest proportion of people (41%) working for long hours, followed by Mexico (29%). This has led to a lack of proportion in work-life balance, often affecting the personal lives of people. This increases the level of stress among people, thus requiring healing solutions such as massages. Such instances require utmost attention as failure to do so could significantly impact the growth of the company and the economy.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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