New York, March 09, 2023 (GLOBE NEWSWIRE) -- The Rhodiola Rosea Supplement Market revenues were estimated at US$ 14 billion in 2022 and are anticipated to grow at a CAGR of 9% from 2023 to 2033, according to a recently published Persistence Market Research report. By the end of 2033, the market is expected to reach a revenue of US$ 38 billion.
Europe had a Rhodiola Rosea Supplement Market Supplements market size of US$ 5.6 Billion in 2022 and it has US$ 6.4 Billion in 2023. It is projected that Europe will have a Rhodiola Rosea Supplement Market supplements market worth US$ 15.2 Billion in 2033. The historical CAGR between 2018 and 2022 is 34%. The forecasted CAGR till 2033 is expected to be 40.2%.
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The Rise in Incidence of depression and hypertension to boost the Market for Rhodiola Rosea Supplements
Rhodiola rosea has been widely used as a natural remedy for increasing stamina, and mental capacity. It can also be used to manage the symptoms of depression as well as keep blood pressure in check. Consumers are actively looking for natural supplements to keep their health in check as synthetic medicines have significant side effects on the body whereas natural supplements such as Rhodiola rosea have negligible negative impacts on the body.
Europe to be the Dominant Market During the Forecast Period
Europe has a significant number of adults who currently suffer from chronic depression. According to Eurostat, around 7% of the total population in Europe is currently suffering from depression.
Several factors are affecting the rise in the prevalence of depression in the region such as underlying chronic illnesses and recent trauma Hypertension in the region is also on the rise as around 22% of adults in the region suffer from chronic hypertension. Due to the rise in the prevalence of depression and hypertension in the region, the market is projected to expand at a rapid pace.
Competitive Analysis:
- NutraChamps
- Now Foods
- Nature's Way
- Gaia Herbs
- BulkSupplements
- Jarrow Formulas
- Absorb Health
- Thorne
- Perfect Supplements
- Pure Encapsulations
- Micro Ingredients
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Players in the market are currently investing in expanding their production capacity to keep up with the demand as well as investing in research regarding the formulations for the supplement that can provide maximum benefit to the consumer.
- In November 2022, PLT Health Solutions Inc announced that it has started offering its water-soluble Rhodiola Rosea Supplements product Rhodiolife in North America.
More Insights Available
Persistence Market Research, in its new offering, presents an unbiased analysis of the Rhodiola Rosea Supplement Market supplements market, presenting historical market data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study reveals extensive growth in the Rhodiola Rosea Supplement Market supplements market
- in terms of Form (Powder, and Capsules),
- in terms of sales Channel (Online and retail),
- terms of Region (North America, Europe, Asia Pacific, Middle East, and Africa, Latin America) - 2023 to 2033.
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The Rhodiola Rosea supplement market faces several challenges, including:
- Lack of regulation: The supplement industry is not as heavily regulated as the pharmaceutical industry, which means that there are fewer quality control measures in place. This can lead to inconsistencies in product quality and safety.
- Misleading claims: Some supplement companies make misleading claims about the benefits of Rhodiola Rosea, which can lead to false expectations and disappointment among consumers.
- Variability in potency: The active ingredients in Rhodiola Rosea can vary depending on the source and processing method. This can make it difficult for consumers to know exactly what they are getting and for researchers to conduct consistent studies.
- Limited research: While there is some evidence to support the use of Rhodiola Rosea for certain conditions, such as anxiety and depression, there is still limited research on its long-term safety and efficacy.
- Competition: The supplement industry is highly competitive, and there are many other products on the market that claim to offer similar benefits to Rhodiola Rosea. This can make it difficult for companies to stand out and for consumers to choose the best product for their needs.
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