New York, US, March 08, 2023 (GLOBE NEWSWIRE) -- Stress Relief Supplements Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), Stress Relief Supplements Market Research Report Information by Source, Form, Category, Distribution Channel, and Region—Forecast till 2028, the market size is projected to register a CAGR of 6.75% and reach a value of USD 756.6 million by 2028.
Market Scope:
Our bodies' natural response to the difficulties we experience every day is stress. Stress management is crucial since it has a direct impact on mental health. Self-care techniques can lower and manage stress levels, but there are occasions when supplements are needed. These supplements offer a dietary strategy for stress alleviation that is focused.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2028 | USD 756.6 million |
| CAGR | 6.76% |
| Base Year | 2020 |
| Forecast Period | 2021-2028 |
| Historical Data | 2019 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | by Source, Form, Category, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Focus on preventive healthcare |
| demand for organic supplements |
Competitive Dynamics:
- ADM (US),
- PharmalineaLid. (sloyenia),
- Virtue Vilamins LIC (US),
- NaturesPlus (US),
- The Himalaya Drug Company (india),
- Plant Therapy Essential Oil: Corporate (US),
- Cureveda (india),
- Naturalite Asia Co.Lid. (Koreo),
- Ricola (Swizedland),
- Nutraceutical international Corporation
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Market USP:
Market Drivers
Consumer desire for preventative healthcare goods is rising, which is anticipated to accelerate the expansion of the market for supplements that reduce stress. Moreover, consumer demand for stress-relieving supplements is growing as product exposure and consumer awareness grow. With marketing activities, various firms are also concentrating on raising consumer knowledge.
Also, a variety of informational sources illustrating the benefits and drawbacks of stress-relieving supplements aid consumers in making decisions regarding the best product form and type. Also, rising stress levels among young and elderly populations as a result of lifestyle changes have increased demand for stress-relieving supplements, and this pattern is anticipated to continue throughout the course of the forecast period.
Adopting healthy lifestyles is also being influenced by growing worries about the incidence of lifestyle disorders like obesity, malnutrition, and nutritional deficiencies. As a result, the adoption of new technology and treatments, excessive use of procedures and tests, and a lack of transparency and information regarding the costs and quality of medical services have all contributed to a dramatic rise in healthcare expenditures. Consumers are incorporating healthy alternatives into their daily routines in order to move away from curative healthcare as a result of rising medical service expenses. As a result, there is a growing global demand for stress-relieving supplements due to increased awareness and an emphasis on preventative healthcare.
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Market Restraints
The norms and laws established by governmental authorities must be followed by Supplements Market. Controlling permits, establishing rules for the entry of new participants, residual management, and checking expiration dates for specific products like supplements are all tasks that fall under the purview of the relevant authorities. It is challenging for vendors to implement standard operating procedures because laws, regulations, and standards differ between nations. The relevant authorities impose stringent restrictions on the kinds of supplements that can be sold, the amount of substances that can be used, and the standards for labeling different ingredients. Government rules that are so strict may prevent new businesses from entering the market for supplements that reduce stress and inhibit the development of new products.
COVID-19 Analysis:
A number of general issues have arisen as a result of the COVID-19 epidemic and the uncertainty surrounding the crisis' resolution. More people are experiencing stress, sadness, worry, rage, and frustration, among other mental health disorders.
Restrictions on driving are getting stricter as COVID-19 infections spread over the world. Due to the rapidly declining global investment flows, the pandemic situation's influence on global trade and supply chains is expanding as the world economy attempts to cope with it. The transportation sector is experiencing instability due to the declining demand for raw materials and food components. A considerable limitation in transportation has resulted from rigorous containment measures enforced by governments of various nations and preventive efforts to control the effects of the outbreak, having a ripple effect around the globe. Due to the mismatch between supply and demand, less stress relief supplement is being produced. Due to market uncertainties globally and efforts to rectify the supply/demand imbalance, this trend is anticipated to persist.
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Market Segmentation:
By Source
In 2020, the ashwagandha segment held the greatest market share. The herb ashwagandha is widely utilized in ayurvedic therapy. It possesses adaptogenic qualities that, through supporting the function of the adrenal glands, aid in minimizing the negative consequences of chronic stress. The stress chemicals cortisol and adrenaline are produced by the adrenal glands. Ashwagandha is a popular supplement that is safe to use and is effective at reducing stress.
By Form
In 2020, the sector for capsules and tablets held the biggest market share. Tablets typically have modest prices and provide alternatives with high potencies. Compared to other forms, they have a longer shelf life. Although they cost more and have a shorter shelf life than other forms, capsules are nevertheless generally favoured because they are simpler to take than tablets.
By Category
In 2020, the traditional segment held the highest market share. The materials used to make conventional supplements for stress alleviation are farmed using standard farming methods. Contrary to organic growth, conventional growing of components uses artificial chemicals including pesticides, fertilizers, hormones, and antibiotics. Compared to conventionally cultivated produce, organic product has less detectable pesticide residue.
By Distribution Channel
In 2020, the category located in stores held the biggest market share. Supermarkets and hypermarkets, specialty shops, and other stores make up the store-based component. Since these distribution channels account for the majority of the sales of stress-relieving supplements, supermarkets and hypermarkets are anticipated to be the largest sub-segment. The sale of supplements for reducing stress is heavily reliant on specialty shops. It is anticipated that during the review period, it will expand the fastest. This channel is intended primarily for the little servings, such as pills and capsules, and prescribed supplements.
Regional Analysis:
North America held the biggest market share in the global market for supplements for stress reduction in 2020, and it is anticipated that it would hold that position throughout the forecast period. Because customers in the area are becoming more health concerned, they are gravitating toward preventive healthcare. In the US, there is a very high demand for stress-relieving supplements, which is fueled by factors such as an aging population, a focus on preventative healthcare, growing consumer awareness, and internet sales. According to the Population Bulletin published by the Population Reference Bureau, the number of Americans 65 and older is expected to nearly double from 52 million in 2018 to 95 million by the year 2060. Thus, the rising older population and rising healthcare spending are projected to fuel market expansion in North America.
It is projected that Asia-Pacific would be a lucrative market for companies who make supplements for reducing stress. During the projected period, Asia-Pacific is anticipated to grow at the fastest rate. The expansion of the organized retail market and manufacturer promotions on social media are two additional major drivers of the selling of supplements for reducing stress, particularly in emerging nations. In 2020, China held the largest market share of the Asia-Pacific Stress Relief Supplements Market, while India's market is anticipated to grow at the highest CAGR.
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