Massage Therapy Service Market Eyes 8.4% CAGR by 2034

The massage therapy service market is projected to be valued at US$65.23 billion in 2024, with massage therapy services expected to experience a promising compound annual growth rate (CAGR) of 8.4% from 2024 to 2034. By 2034, the global market is anticipated to reach US$146.13 billion.

Due to mental tiredness and stress caused by frantic lifestyles, consumers spend more money on soothing and rejuvenating services such as massage and spas. An increasing desire for revitalizing and soothing therapies to purify the system will keep a variety of massage therapies in demand.

Massage therapy demand is anticipated to remain elevated due to the growing urge to maintain a psychologically and physically healthy lifestyle. Furthermore, the frequency of chronic illnesses is likely to increase the demand for massage services internationally. The spike in demand for system decontamination, stress management, and chronic illness treatments is likely to substantially boost the worldwide massage market.

Get your Sample Report to Boost Your Industry Knowledge for Valuable Insights: https://www.futuremarketinsights.com/reports/sample/rep-gb-15720

Further, aging population is spending more on non-surgical therapies to improve their physical and mental well-being. Relaxation of the system, relaxation of body cells and tissues, and anti-stress therapy will drive global demand for massage therapies. During the forecast period, such factors are likely to contribute to the expansion of the worldwide massage market.

Growth Drivers:

Increasing Awareness of Health Benefits: Growing awareness among consumers about the therapeutic benefits of massage therapy, including stress reduction, pain management, and improved circulation, is driving demand for massage services.
Rising Disposable Income: As disposable income levels rise, individuals are more willing to spend on wellness and relaxation services, including massages, contributing to the growth of the market.
Expanding Healthcare Industry: Integration of massage therapy into mainstream healthcare practices, including hospitals, clinics, and wellness centers, is broadening the market’s reach and increasing demand for professional massage services.
Aging Population: The aging population is more prone to musculoskeletal issues, chronic pain, and stress-related ailments, creating a sustained demand for massage therapy services among this demographic segment.
Technological Advancements: Integration of technology in massage therapy equipment and techniques, such as electric massage chairs, handheld massagers, and online booking platforms, is enhancing the accessibility and convenience of massage services, attracting more customers.

Industry Restraints:

Regulatory Challenges: Compliance with varying state regulations, licensing requirements, and insurance coverage limitations poses challenges for massage therapists and businesses, potentially hindering market growth and expansion.
High Competition: The massage therapy market is highly fragmented with numerous independent practitioners and spa chains, leading to intense competition for market share and pricing pressures.
Economic Uncertainty: Economic downturns or periods of instability may result in reduced consumer spending on discretionary services like massage therapy, impacting the market’s growth potential.
Staffing and Training Issues: Recruiting and retaining skilled massage therapists, along with the costs and time associated with training, can pose challenges for businesses aiming to maintain service quality and meet customer demand.
Public Perception and Misconceptions: Addressing public misconceptions or stigma surrounding massage therapy, such as concerns about professionalism, privacy, or misconceptions about its efficacy, may require educational efforts and marketing strategies to overcome, potentially affecting market growth.

Gain Immediate Access to Detailed Market Insights: https://www.futuremarketinsights.com/checkout/15720

Key Takeaways from the Massage Therapy Services Market Study

Women’s segment is anticipated to boost the growth of the massage therapy services market due to increasing trend of beauty and grooming worldwide.
By service type, the deep tissue massage segment is expected to gain revenue over the upcoming decade.
In terms of sales channel, the online booking segment is expected to witness impressive growth during the projection period.
The U.S. and the U.K. are expected to account for lion’s share in North America and Europe market, respectively.

“Leading service providers are partnering with various corporate agencies to drive the campaign of well-being in corporate sector across the globe. Moreover, to expand the business the service providers are diversifying their service line and focusing on expansion of business across boundaries with the help of massage centre chains or franchises.” Says an FMI analyst.

Who is winning?

Leading manufacturers of massage therapy services market are focused on aggressive promotional strategies, advertisements, and new services launches that have driven sales growth of massage therapy services market globally.

Major players present in the massage therapy services market