The regions covered in the report are:
• North America
• South America
Exhibit 36: Market share by geography 2020-2025 (%)
|Year||North America||Europe||APAC||South America||MEA|
North America – Market size and forecast 2020-2025
North America contributed 39.10% to the overall market in 2020 and would decrease its contribution to 38.94% of the global electric massager market in 2025.
North America was the largest region of the market in 2020 and would continue to be the largest segment of the market in 2025. It would grow at a compounded annual growth rate of 5.74% between 2020 and 2025, which is slower than the overall market. North America would be the third-fastest growing region within the overall market and would grow from $7,621.9 million in 2020 to $10,077.04 million in 2025. North America would contribute 38.47% of the incremental growth in the overall market between 2020 and 2025.
North America will generate growth across all the years of the forecast period between 2020 and 2025. The year-on-year growth during this period will vary between 5.67% and 5.84%.
Exhibit 38: North America – Market size and forecast 2020-2025 ($ million)
The growth of the electric massager market in North America has increased significantly. Factors such as rapid urbanization, economic stability associated with rising disposable income, aging population, increasing health benefits of massagers, increasing availability of massagers through online distribution channels, and the presence of prominent vendors are the major factors driving the growth of the electric massager market in North America.
In North America, urbanization has increased significantly. According to The World Bank Group, in 2019, the urban population in the US and Canada was 82% and 81%, respectively. This is increasing the demand for electric massagers across North America. Electric massagers are used to reducing anxiety, get relief from chronic pain, and relax muscles. Rapid urbanization, coupled with economic stability owing to increasing disposable income, has increased the demand for electric massager among people across North America. This, in turn, is boosting the growth of the electric massager market in the region.
The geriatric population is increasing significantly across North America. For instance, according to The World Bank Group, the percentage of the population aged 65 years and above in the US and Canada was 16% and 18%, respectively, in 2019. The geriatric population is more susceptible to joint and muscle issues. Electric massagers help in increasing energy levels, improving quality of life, and reducing the levels of stress. Hence, the increasing geriatric population, coupled with improving economic conditions, is driving the growth of the electric massagers market in North America.
Target, Walmart, Walgreens, and CVS are some of the popular retail chains in the US, which market a broad range of electric massagers. In addition, the increasing availability of electric massagers online and the growing preference for online purchases across North America are fostering the growth of the electric massagers market in the region.
Global and local vendors, such as Compass Health Brands, Hi-Dow International Inc.(Hi-Dow International), Luraco Technologies, Prospera Corp. (Prospera), Zynex Inc. (Zynex), Thumper Massager Inc. (Thumper Massager), and HoMedics LLC (HoMedics), have a presence in North America. These vendors offer a wide range of electric massagers. Hence, the easy availability of electric massagers in North America is boosting the growth of the electric massagers market in the region.
Canada and Mexico are the second and third-largest electric massager markets in North America. In recent years, electric massagers have been popularized through retail outlets and online stores in these countries. The durability, softness, and luxury
appeal of different types of electric massagers, including massage chairs, have further widened the growth prospects of the market. The omnichannel strategies adopted by vendors are further accelerating the sales of electric massagers. Several electric
massager brands available online offer product information about sleek designs, advanced features, and varied price ranges, which help customers in making a final purchase based on their requirements. Customers in these countries are Internet-savvy and prefer smart devices, which will increase the demand for smart features-enabled electric massage chairs. Additionally, digital signage and online advertisements generate more awareness and brand visibility for electric massagers in these countries.
In 2020 and the first half of 2021, offline distribution channels were severely impacted owing to the outbreak of COVID-19. Governments in these countries imposed a total lockdown periodically, and people were isolated in their homes. This negatively
impacted offline distribution channels in terms of customer footfalls at stores.
Since mid-February 2020, the outbreak of the COVID-19 has been negatively impacting product demand, customer behavior, logistics services for products, and the availability of essential and non-essential products at retail stores and factories. Thus, offline retailers of electric massagers were severely affected in 2020, as customers were compelled to forego discretionary purchases in favor of procuring only portable electric massagers such as handheld massagers and neck and shoulder massagers for minor therapies. Therefore, the purchasing power of customers was limited, which impacted the growth of the market. However, with the lifting of lockdowns and the initiation of vaccination drives, the market in North America is expected to grow at a moderate pace during
the forecast period.
Exhibit 39: North America – Year-over-year growth 2020-2025 (%)