The Adaptogens Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Adaptogens Global Market Report 2024, The adaptogens market size has grown strongly in recent years. It will grow from $10.67 billion in 2023 to $11.67 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to stress and lifestyle diseases, consumer awareness, nutraceutical industry growth, athletic performance enhancement, holistic health practices.
The adaptogens market size is expected to see rapid growth in the next few years. It will grow to $17.11 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%. The growth in the forecast period can be attributed to functional food and beverage innovation, e-commerce expansion, aging population, increasing beauty and skincare applications, cultural acceptance. Major trends in the forecast period include innovation in product formulations, direct-to-consumer channels, personalized nutrition, scientific research and clinical studies, celebrity endorsements.
The rising demand for healthy food and beverages is expected to propel the growth of the adaptogens market. Increasing health consciousness among the global population is driving the demand for healthy food and beverages. Healthy foods and beverages with rich nutrients are needed to maintain the body’s health and energy levels. Adaptogens help the body respond to stress, anxiety, fatigue, and overall well-being. The rising demand for healthy food and beverages will create demand for adaptogens that which are an essential component of healthy food and beverages due to their herbal properties. For instance, according to the Food & Health survey 2021 by the International Food Information Council, a US-based nonprofit organization for food, beverage, and agricultural industries, approximately 85% of Americans claimed that the pandemic had caused them to adjust their diet or cooking habits in some way and additionally, 60% of Americans simply try to eat healthily, whereas 20% actively seek out items or adhere to diets for certain health benefits. In addition, according to the American multinational food processing and commodities trading corporation ADM, during the pandemic, 18% of Americans bought their first plant-based protein products and 51% of people were looking to adopt products that help them maintain a healthy weight. Thus, the rising demand for healthy food and beverages will drive the growth of the adaptogens market.
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The adaptogens market covered in this report is segmented –
1) By Nature: Organic, Synthetic
2) By Source: Ashwagandha, Ginseng, Astragalus, Holi Basil, Rhodiola Rosea, Schisandra, Adaptogenic mushrooms, Other Sources
3) By Distribution Channel: Online, Offline
4) By Application: Food And Beverages, Dietary And Sports Supplements, Pharmaceutical, Cosmetics, Animal Feed
Major companies operating in the adaptogens market are focused on introducing next-generation solutions, such as plant-based bars, to increase their profitability in the market. Plant-based bars are a category of snacks that cater to individuals following a plant-based diet or seeking vegan-friendly options. For instance, in December 2022, Tattooed Chef Inc., a US-based plant-based food company, launched Adaptogen bars. Adaptogen bars are a type of functional food that contains adaptogens, which are natural substances that help the body adapt to stressors, promote vitality, mood stabilization, and improved performance and focus, and contain plant-based ingredients. Adaptogen bars are available in four flavors, such as Oat Butter Graham, Oat Butter Chocolate Chip, Oat Butter Peanut, and Oat Butter Brownie. These bars contain 140 milligrams of blended adaptogens, such as ashwagandha, holy basil, reishi, and vitamin D3, to impact consumers’ moods in different ways. These bars are made with pea protein and are free of added sugars, soy, and gluten.
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