Project report for Massage oil

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Massage Oil is a growing and developing manufacturing sector in India. Many foreigners comes to India for massage therapies and it fuel the growth of the industry. Massage oil has a world wide market potential and export potential. It is a latest and innovative idea for new and developing entreprenures. It is a profitable business and it has world wide acceptance.Increase in the consumers’ preference for a holistic relaxation experience has propelled the demand for massage treatments, including Thai, Swedish, deep tissue, shiatsu massage, and reflexology, at spa and wellness centers. Increasing number of spa facilities at resorts, hotels, and airport lounges will drive the segment. By providing various massage services for foot, neck, back, and whole body at the airport owing to the growing travelers’ demand.Growing busy and hectic lifestyle is giving rise to stress-related cases, thereby impelling consumers to opt for a massage, thus supporting the growth of the market. Moreover, the availability of different forms of massage therapies is positively influencing the market growth.

The massage therapist often uses massage oils to enhance the structured movements of soft tissue. There are many varieties of massage oils, each having special qualities. Massage oils consist of carrier oils, including olive oil and almond oil, and infused oils, such as lavender, which add extra benefits to the oil. Massage oils don't have to be expensive, but you need to buy the right kind of oils. The best massage oils are plant-based and have a nice, light texture for easy glide. Rising awareness among consumers regarding massage as an effective remedy for the treatment of various health reasons, such as pain, soreness or spasm, and arthritis, is expected to be a key factor in driving the industry.

Market potential & Strategy

The global massage oil market was valued at INR 12,59,89,080 in 2020 and is expected to grow at a CAGR of 7.9% during the forecast period. The surging knowledge among customers regarding massage as an effective treatment for various health conditions, including soreness or spasm, pain, and arthritis, is projected to be a significant factor for the industry's growth. Growing busy and chaotic lifestyles leads to stress-related cases, prompting them to seek therapy and, therefore, boosting the market's growth. Furthermore, the availability of various therapies is favorably impacting the overall market growth. Almond oil dominated the market and generated the highest revenue in 2020. It is a nutritious powerhouse of numerous antioxidants and vitamins, making it one of the therapists' most commonly used products. The oil is recognized to have antifungal and antibacterial properties. Furthermore, it absorbs quickly into the skin, making the oil an efficient and robust moisturizer. The product is used to treat various fungal skin infections, including ringworm and athlete's foot, by rubbing it on the skin. The surged demand among therapists due to increased awareness and easy availability will further boost the segment's growth over the forecast period. The emergence of the COVID-19 pandemic will not affect the market significantly as massage oil is predominantly used as home care treatments, and E-commerce companies are offering massage oils to consumers even during the lockdown in many countries. However, the closure of spas across the countries during the pandemic is expected to have a slightly negative impact on the growth of the global market.

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