May 09, 2022 10:00 ET | Source: Future Market Insights Global and Consulting Pvt. Ltd. Future Market Insights Global and Consulting Pvt. Ltd.
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NEWARK, Del, May 09, 2022 (GLOBE NEWSWIRE) -- As per a recent market analysis by Future Market Insights (FMI), the global massage guns market is poised to reach a valuation of US$ 509.0 Mn in 2022. Sales are projected to increase at a 7.4% CAGR, with the market size reaching US$ 1,042.5 Mn by 2032.
As per the analysis, the usage of massage guns has rapidly increased due to increasing preference for massage devices that offer speedy recovery. Massage gun manufacturers are adopting consumer-centric approaches to improve their brand image and sales.
Massage guns are trending among athletes due to their ease of use and portable design. Ideally, there are a few parameters that influence consumers’ purchase decisions. A significant number of them are influenced by brand identity. However, not all of them demonstrate brand loyalty.
Hence, it is imperative for companies to build a strong brand portfolio and strengthen their presence across multiple channels. Next comes the functionality. For instance, in the case of massage gun, consumers often judge them on the basis of their efficiency. Therefore, products with higher wattage are likely to enjoy better goodwill which will be drawn by higher convenience and efficiency.
Consumers are increasingly adopting e-commerce platforms to purchase electronic items including massage gun, as they can avail special discounts and prices on a wide range of products. In addition to this, e-commerce websites also help make the products as per the specific requirements of the customer, even if the product is not available in the market in a particular region. Leading e-commerce sites, including Alibaba and Amazon, are offering an extensive range of products from around the world.
Factors such as easy product accessibility, convenience, and ease of shopping irrespective of geographic presence will continue pushing sales of massage guns through online channels over the forecast period.
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“Increasing preference for portable massage guns among sports personnel and athletes is expected to drive sales in the market. Besides this, growing popularity of smart massage gins with temperature and vibration control is anticipated to augment the growth in the market,” says an FMI analyst.
· Based on size, mid-size/handheld massage guns are predicted to account for a dominant share of the market through 2032.
· In terms of battery type, demand for rechargeable guns is projected to increase at a 7.7% CAGR through 2032.
· By sales channel, the indirect sales segment is anticipated to hold 83.8% of the total market share.
· In terms of end user, demand for massage guns likely to escalate among athletes at a 8.8% CAGR over the assessment period.
· U.S. will emerge as a lucrative pocket in North America massage guns market. Sales in the North America market are slated to increase at a 3.6% CAGR.
· Surging demand for rechargeable massage guns in the U.K. will place it as an attractive market, leading the Europe massage guns market.
Leading manufacturers of massage guns are focusing on smart promotional strategies, advertisements, and new product launches to improve sales in the market.
Major players present in the Massage Guns market are Therabody, LifePro, Hyperice Inc.,Renpho, Everyfun, HydraGun, Muscle Gun, Massage Guns Ireland, Recovapro, Essential Massage & Therapy Co.,Achedaway, Medcursor and Others.
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Global Massage Guns Market By Category
Table of Content 1. Executive Summary
3.1. Key Trends Impacting the Market
4. Global Massage Guns Market Demand Analysis 2017–2021 and Forecast, 2022–2032
4.1. Historical Market Volume (‘000 Units) Analysis, 2017–2021
4.2. Current and Future Market Volume (‘000 Units) Projections, 2022–2032
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Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10-years.
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