Market Overview
Stress relief Supplements Market size is projected to register a CAGR of 6.75%and reach a value of USD 756.6 million by 2028.
Market Dynamics
Consumers' choice for preventative healthcare goods is increasing, which is projected to fuel the expansion of the market for stress relief supplements. Additionally, consumer demand for stress reduction products is expanding as consumer awareness and product visibility grow. Numerous manufacturers are likewise concentrating their efforts on improving consumer awareness through marketing activities. Additionally, a variety of sources of information on the positive and negative effects of stress relief supplements assist consumers in making an informed decision on the best form and kind of product. Additionally, rising stress levels among the elderly and young populations as a result of changing lifestyles have increased demand for stress relief supplements, which is likely to continue during the projection period.
Additionally, growing consumer health consciousness has resulted in an increase in demand for stress reduction products. Stress reduction medications raise serotonin levels in the body, which has a soothing effect on the brain by regulating chemical levels. Apart from that, it inhibits the production of stress hormones such as adrenaline and cortisol. Consumer awareness of the long-term health advantages of organically derived stress relief supplements has increased adoption, which is likely to continue expanding during the projection period.
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Competitive Dynamics
Prominent players in the global Stress Relief Supplements Market include ADM (US), PharmaLinea Ltd. (Slovenia), Virtue Vitamins, LLC (US), NaturesPlus (US), The Himalaya Drug Company (India), Plant Therapy Essential Oils Corporate (US), Cureveda (India), Naturalife Asia Co., Ltd. (Korea), Ricola (Switzerland), and Nutraceutical International Corporation (US).
Segmental Analysis
The global stress relief Supplements Market has been segmented by source into ashwagandha, chamomile, lavender, melatonin, rhodiola, and L-theanine. In 2020, the ashwagandha segment held the greatest market share. Ashwagandha is a widely frequent ayurvedic herb.
The global stress relief supplements market has been segmented on the basis of form into capsules & tablets, oils, powder, and others. In 2020, the capsules & tablets sector held the greatest market share. Tablets are typically inexpensive and provide high-potency alternatives.
The worldwide stress relief supplement market has been segmented into conventional and organic products. In 2020, the traditional segment held the highest market share. Standard stress relievers are derived from materials grown according to conventional farming procedures.
The worldwide stress relief supplements market has been split by distribution channel into store-based and non-store-based. The largest sub-segment is likely to be supermarkets and hypermarkets, as these channels account for the majority of stress relief supplement sales.
Regional Overview
North America, Europe, Asia-Pacific, and the Rest of the World comprise the global market for stress reduction supplements.
North America dominated the global stress relief Supplements Market in 2020 and is likely to retain that position during the forecast period. Consumers in the region are increasingly interested in preventative healthcare, owing to rising consumer health consciousness. Stress relief supplement usage is highly high in the United States, driven by an ageing population, a focus on preventative healthcare, growing consumer awareness, and internet sales.
Asia-Pacific is expected to be a promising market for stress-relief supplement makers. Asia-Pacific is expected to experience the fastest growth over the projection period. Manufacturers' promotional operations on social media platforms and the growing organised retail industry also contribute significantly to the sale of stress reduction products, particularly in developing nations. In 2020, China will hold the largest market share in the Asia-Pacific stress relief Supplements Market, while India's market is expected to grow at the fastest rate during the study period.
