ACCESS Newswire
02 Jun 2020, 19:35 GMT+10
Major massage oil producers are seeking to bolster quality standardization and the optimization of production processes to aid in consumer safety, during the COVID-19 pandemic.
ROCKVILLE, MD / ACCESSWIRE / June 2, 2020 / The massage oil market is projected to exhibit a steady growth trajectory of 5% CAGR, through the forecast period (2020-2030). Adoption of massage oil formulations by professional chiropractors is an essential factor for the growth of the massage oil industry. The COVID-19 outbreak has adversely impacted the market in the short term. The problem has been compounded by the temporary closure of brick and mortar stores, disruptions in supply chains, and restrictions on trade. Growing penetration of holistic healthcare practices for pain management will bolster adoption. The demand for massage oils will steadily recover once the pandemic subsides, reveals FACT.MR.
'Frequent initiatives by the International Massage Association (IMA) generates opportunities for growth. The IMA had organized the world championship of massage event during June 2020. The event enables massage oil manufacturers to build up remunerative industry networks. However, the COVID-19 pandemic has delayed the event, temporarily hindering the industry,' says the FACT.MR analyst.
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Massage Oil Market - Key Takeaways
Massage Oil Market - Key Driving Factors
Massage oil Market - Key Constraints
The Anticipated Impact of COVID-19
The COVID-19 pandemic has substantially restricted the growth of the massage oils market. Brick and mortar stores, including medical therapy, and spa and wellness centers have been forced to shut down temporarily. On the other hand, countries with a lower impact of the COVID-19 outbreak will be able to boost businesses sooner than other regional markets.
To mitigate losses during this crisis, market players are seeking to optimize production processes in addition to setting up strict quality standards for consumer safety. Online distribution channels will gain substantial traction among market leaders to leverage social distancing protocols. Recovery of the massage oil market is largely dependent on the normalization of raw material supplies, relaxation of trade regulations, and effective social media presence.
Explore the global massage oil market report with 231 illustrative figures, 74 data tables and the table of contents. You can also find a comprehensive market segmentation on https://www.factmr.com/report/4728/massage-oil-market
Competition Landscape
The massage oil market is moderately fragmented. Key players in the massage oil market are Raven, Bon Vital, Natural Bath and Body Products, Fabulous Frannie, The Himalaya Drug Company, The Body Shop, Master Massage, Biotone, Aura Cacia, and Bath & Body Works. Majority of these players are seeking strategic collaborations with vendors in addition to investing in online distribution channels. Further, the differentiation of products on discounts, oils, and aroma are popular market strategies.
More About the Report
The FACT.MR's market research report of 300 pages offers comprehensive insights on massage oil market. The market is analyzed on the basis of product (olive, almond, coconut, citrus, and others), demographic (adult and baby), and application (spa and wellness centers, medical therapeutics, and others) across six key regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
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About FACT.MR
Expert analysis, actionable insights, and strategic recommendations of the veteran research team at FACT.MR helps clients from across the globe with their unique business intelligence requirements. With a repository of over thousand reports and 1 million+ data points, the team has scrutinized the retail & consumer goods sector across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Fact.MR's latest market reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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SOURCE: Fact.MR
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