Rockville, Aug. 07, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, The revenues of Mood Support Supplements Market were estimated at US$ 656 million in 2022 and is anticipated to grow at a CAGR of 6.4% from 2023 to 2033. By the end of 2033, the market is expected to reach a valuation of US$ 1.3 billion. Capsules are the top form of mood support supplements with a projected CAGR of 6.2% from 2023 to 2033.
Mood support supplements are dietary supplements that are formulated to promote a positive mood, reduce feelings of stress and anxiety, and support emotional well-being. These supplements typically contain a variety of natural ingredients that are believed to have mood-boosting properties, such as saffron extract, ashwagandha, omega-3 fatty acids, and B-vitamins.
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In 2020, the global mood enhancement supplements sales were over US$ 2.9 billion and it is expected to grow at a CAGR of 7.3% during the forecast period. The growing awareness of mental health issues and rising demand for natural and plant-based supplements are driving the market growth.
According to World Health Organization (WHO), depression is a common mental disorder that affects people of all age group. In 2020, there were around 264 million people were affected by depression worldwide. Mood support supplements, such as omega-3 fatty acids, S-Adenosyl-L-Methionine, Ashwagandha, Vitamin B, Vitamin D, and Magnesium are used for the reducing symptoms of depression. The increasing number of people with depression influences the growth of mood support supplements market.
Report Attributes | Details |
| Forecast Period | 2023 - 2033 |
| Value Projection (2033) | US$ 1.3 billion |
| Growth Rate (2023-2033) | 6.4% CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 24 Tables |
| No. of Figures | 120 Figures |
Competitive Analysis:
Key players in the market are Blackmores, Holland & Barrett, Gaia Herbs, GNC, Life Extension, Nature Made, Centrum, Nature's Way, Solgar Inc., Nature's Bounty, OLLY, Swisse Wellness PTY LTD, Source Naturals, and Natrol.
A few of the recent developments in the Mood Support Supplements Market are:
- In June 2021, the supplement company Life Extension announced the launch of a new supplement called "Mood-Emoticon" that contains ingredients like saffron extract, ashwagandha, and lemon balm to support a positive mood and emotional health.
- In March 2021, Holland & Barrett launched a new range of vegan vitamins and supplements, designed to cater to the growing demand for plant-based health products. The range includes products such as vegan Vitamin D3, vegan Omega-3 supplements, and vegan Vitamin B12.
Country-Wise Analysis:
With an absolute dollar increase of US$ 140.6 million from 2023 to 2033, the market in the United States is predicted to increase in size to be worth US$ 312.3 million by 2033. From 2018 to 2022, the market in the nation grew at a CAGR of 7.9%, and from 2023 to 2033, a CAGR of 6.2% is anticipated.
Around US$ 198 million was spent on ashwagandha sales in the United States in 2020. In 2021, it climbed to almost US$ 252 million. In 2022, ashwagandha supplement sales were estimated to be at $83.4 million USD. By raising the levels of serotonin, a neurotransmitter linked to mood regulation, ashwagandha may help to elevate mood and reduce the symptoms of depression. The market for mood support supplements is anticipated to grow throughout the assessment period as a result of the rise in ashwagandha supplement demand.
Segmentation of the Mood Support Supplements Market:
- By Type:
- S-Adenosyl-L-Methionine
- Omega-3s
- Vitamin B
- Vitamin D
- Magnesium
- Ashwagandha
- By Form:
- Capsules
- Oils
- Powder
- By Distribution Channel:
- Online Sales
- Supermarkets/Hypermarkets
- Specialty Stores
- Pharmacy Stores
- By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the Mood Support Supplements Market, presenting historical market data (2018-2022) and forecast statistics for the period from 2023 to 2033.
The study reveals extensive growth in Mood Support Supplements Market by Type (S-Adenosyl-L-Methionine, Omega-3s, Vitamin B, Vitamin D, Magnesium, Ashwagandha), by Form (Capsules, Oils, Powder), by Distribution Channels (Online Sales, Supermarkets/Hypermarkets, Specialty Stores, Pharmacy Stores) by Region (North America, Latin America, Europe, Asia- Pacific, Middle East and Africa) - 2023 to 2033.
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