Portland, OR, Oct. 11, 2022 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global adaptogens market generated $10.3 billion in 2021, and is projected to reach $20.3 billion by 2031, growing at a CAGR of 7.3% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape, and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to strengthen significantly and heighten their position in the market.
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Report coverage & details:
|Market Size in 2021||$10.3 billion|
|Market Size in 2031||$20.3 billion|
|no. of Pages in Report||320|
|Segments Covered||Source, End Use, Application, Distribution Channel, and Region.|
|drivers||Growing consumer awareness about the several health benefits offered by adaptogens.|
|Rise in demand for adaptogen from beverage industry and healthy food consumers due to its ability to reduce anxiety and enhance mental peace.|
|A large number of health benefits offered by adaptogen.|
|Opportunities||Rise in demand for adaptogens in healthcare products and pharmaceutical sector.|
|Surge in penetration of adaptogens in cosmetics for improving personal appearance and confidence of individuals.|
- The outbreak of the COVID-19 had favorably impacted the growth of the global adaptogens market, owing to huge demand for adaptogen products such as ashwagandha, holy basil, ginseng, and astragalus during the COVID-19 pandemic.
- Rise in sale of adaptogens and its supplements owing to health awareness among the people and need for stree-free living during the COVID-19 prompted the global market growth.
The report offers detailed segmentation of the global adaptogens market based on source, end use, application, distribution channel, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and developing strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.
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Based on source, the ashwagandha segment held the largest market share in 2021, accounting for more than two-fifths of the global adaptogens market share, and is expected to maintain its leadership status during the forecast period. However, the holy basils segment, on the other hand, is expected to record the fastest CAGR of 9.9% during the forecast period.
Based on end use, the powder segment held the largest market share in 2021, holding more than one-third of the global adaptogens market share. Moreover, the same segment is set to maintain its dominant position during the forecast period. However, the capsules segment, on the other hand, is expected to cite the highest CAGR of 9.6% during the forecast timeline.
In terms of application, the food and beverages segment held the highest market share in 2021, holding nearly two-fifths of the global adaptogens market share, and is anticipated to maintain its number one position during the forecast timeline. However, the dietary and sports supplements segment, on the other hand, is expected to cite the fastest CAGR of 8.8% during the forecast timespan.
On basis of distribution channel, the business to consumer segment held the highest market share in 2021, holding nearly two-thirds of the global adaptogens market share, and is anticipated to maintain its leading position during the forecast timeline. Furthermore, the business to consumer segment, on the other hand, is expected to record the highest CAGR of 7.8% during the forecast timespan. The report also includes segments such as business to business segment.
Based on region, the market across Asia-Pacific held the largest market share in 2021, holding nearly one-third of the global market share. However, Asia-Pacific is set to dominate the global market share in 2031. However, the North America adaptogens market is expected to register the fastest CAGR of 8.0% during the forecast period.
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The key players analyzed in the global adaptogens market report include Dabur India Ltd, PLT Health Solutions, Emami Limited, kairali ayurvedic group, Himalaya Wellness, Colgate-Palmolive Company, Procter & Gamble, Patanjali Ayurved Limited, ENOMARK BIOTECH (ENOMARK HEALTHCARE), Givaudan International SA (NATUREX SA), Shahnaz Ayurveda Pvt. Ltd., Shree Baidyanath Ayurveda Bhawan Pvt. Ltd, Unilever, Riaan Wellness Pvt. Ltd., and IDENA SPA
The report analyzes these key players in the global adaptogens market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance, and operating segments by prominent players in the market.
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