Adaptogens Market (Nature: Natural/Organic and Synthetic; Source: Ashwagandha, Ginseng, Astragalus, Cordyceps, Turmeric, Holy Basil, and Others; End Use: Food & Beverages, Pharmaceuticals, Nutraceuticals, Cosmetics & Personal Care, and Animal Feed; and Sales Channel: Direct/B2B, Hypermarkets/Supermarkets, Convenience Stores, Specialty Stores, Health & Wellness Stores, Other Retailing Format, and Online Retailing) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030
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Brand-building Partnerships and Transparency Buttress Sales While Attracting Repeat Buyers
Transparency, investments in brand equity, and certifications are helping finished product manufacturers to stand out in the competitive adaptogens market landscape. Supplier brand-building partnerships and innovative technologies are key factors shaping the growth of the adaptogens market. Reputable brands are relying in solid supply partnerships to stay afloat in the competition. Innovative technologies in ingredients are generating a demand from consumers for increased traceability and transparency of production practices that root back to the farm from where the ingredients are sourced.
Stress and anxiety associated with modern lifestyle of individuals are key drivers that buttress growth of the adaptogens market. Continued research demonstrations that validate efficacy of adaptogens are paving the way for innovations in sports and performance sectors. The need for enhanced mental function is another key driver catalyzing the demand for adaptogen-based products. Business strategies involve partnerships with leading suppliers to attract repeat buyers.
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Do Adaptogens Pose a Threat to CBD?
It is well-known that CBD (Cannabidiol) aids in relieving pain, increases mental focus, and improves digestion. CBD-infused products such as beverages, tinctures, and even yoga pants are anticipated for a robust growth of the CBD industry. However, advantages of adaptogens and nootropics are anticipated to pose a threat to CBD-infused products. Likewise, adaptogens are growing popular as the go-to ingredient for wellness products. Such trends are boosting the expansion of the adaptogens market, which is estimated to reach a value of ~US$ 23.4 Bn by the end of 2030.
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Abundance of adaptogen ingredients over CBD are creating value-grab opportunities for startups and corporates in the adaptogens market. For instance, Kin Euphorics— an innovator of nightlife beverages for conscious connections, has developed unique non-alcoholic beverages using adaptogens for social drinking occasions. Companies are tapping incremental opportunities in the clean beauty category by boosting the launch numbers of adaptogen-centric skincare products. Thus, companies are increasing efforts to share business with the already-established CBD industry to scale market growth.
Creative Marketing Strategies Target Diverse Group of Consumers Dissatisfied with Pharmaceuticals
Adaptogens are acquiring prominence in various F&B and cosmetics products. However, regulatory considerations pose a challenge for companies in the adaptogens market. The adaptogens market is anticipated to progress at a healthy CAGR of ~7% during the forecast period. However, companies are under constant pressure to avoid overstepping the boundaries of what is allowed to claim, considering stringent regulatory standards. Hence, companies are increasing their focus in creative marketing strategies to generate a continuous demand for adaptogens in products.
Consumer understanding and awareness have become the main focus points for companies in the market landscape. However, these points are also challenges for manufacturers, since diverse classes of consumers are difficult to target through uniform marketing strategies. Manufacturers are now witnessing high consumer adoption of adaptogens after not receiving the desired outcome from pharmaceutical products. Hence, companies are innovating in marketing strategies without risking the wrath of vigilant regulators.
Winning Imperatives: Testing Dosing Quantities and Increasing Ingredient Availability
The concept of superfoods is gaining prominence in most U.S. households, as more number of individuals are undergoing stress due to their hectic lifestyle, thus witnessing in a plethora of digestive, renal, and cardiovascular ailments. Such lifestyle conditions of individuals are boosting the demand for adaptogens. Thus, companies are increasing their production capabilities to increase the availability of adaptogens in convenient packets inside retail stores and are boosting sales through online retailing formats.
Companies in the adaptogens market are benefitting from the growing awareness about the novel medicinal herbs and fungi that are being highly publicized for maintaining endocrinal homeostasis. Advantages of these medicinal herbs are estimated to boost the adaptogens market. Today, functional mushrooms such as reishi and cordyceps are acquiring popularity in F&B offerings such as trail mixes and lattes. Meanwhile, adaptogen dosing quantities are being tested, whereas manufacturers are increasing ingredient availability.
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Opportunities in supplement manufacturing for sleep, stress, and immunity are generating sustainable revenue streams for companies in the adaptogens market. Manufacturers are capitalizing on the trend for natural alternatives to manage stress and improve mental wellbeing.
Brand-building supply partnerships is one of the key takeaways for boosting business revenue. However, consumer demand for greater transparency and traceability pose a restraint for manufacturers. Hence, startups and corporates should delve opportunities in developing e-Commerce platforms that aim to build brand awareness and offer online educational content that reassures the faith of consumers. Startups are aiming to strike the right balance between health and indulgence by innovating in snack bars, granolas, and beverages.
Adaptogens Market: Overview
- The global adaptogens market’s value is anticipated to be ~US$ 10.3 Bn in 2020, finds Transparency Market Research (TMR) in a recent study. According to the report, the market is expected to reach ~US$ 23.4 Bn by 2030, at a CAGR of ~6.8%.
- The rising demand for healthy food and beverages is driving the global adaptogens market. Adaptogen offers relief from stress and is therefore, considered beneficial for the human body. With increasing awareness about health benefits associated with adaptogens, their application in the food & beverages industry is increasing. Adaptogen-based products offer several benefits such as they promote growth and are rich in anti-oxidants that enhances the immunity.
- Increasing use of adaptogens as an ingredient in nutraceutical products ensures protection from flu. Moreover, adaptogens also enhance mental clarity, and work as antidepressants. They are also useful in treating chronic diseases, such as heart and respiratory diseases.
Adaptogens: Market Frontrunners
- Ashwagandha, ginseng, astragalus, cordyceps, turmeric, and holy basil, among others, are key segments by source, wherein the dominating segment in 2020 are ginseng and ashwagandha accounting for a combined share of approximately 46.4% of the market in terms of value.
- The functional food & beverages segment is the major segment of the global adaptogens market in terms of end use. It is followed by pharmaceuticals and sports nutrition segments. These segments accounted for 50.8%, and 34.8% of the market, respectively, based on value.
- North America leads the global market followed by Europe, Oceania, and Asia Pacific. Based on nature, the natural segment holds around 89.9% of the total market, whereas the synthetic segment accounts for the remaining market share.
Adaptogens Market: Trends
- Plant-based functional food and food additives
The demand for adaptogens is increasing as a result of increasing production of functional food and food additives. Adaptogen also works as stress buster, as it relaxes the brain. It has various antioxidant and anti-inflammatory properties due to which its demand is increasing. Healthy snacking trend is one of the key factors upscaling the demand for adaptagens. Furthermore, the use of adaptogens is also increasing in sports nutrition products due to their health benefits. They prevent various respiratory and heart diseases, which is a key factor fueling their demand worldwide. Hence, fitness enthusiasts and athletes are including adaptogens in their diet. The use of adaptogen-based products boosts immunity of athlete during extreme physical workout and training and reduces stress. These valuable properties have made adaptogens a highly preferred ingredient in functional food. Additionally, it is a major supplement preferred by sportspersons.
Adaptogens Market: Strategies
- Key manufacturers in the global adaptogens market are introducing various adaptogen-based products online and are also providing eye-catching discounts on their products to enhance their online business
- Product Innovation and Launches: Key players are offering products that increase the ability of the body to resist the stress effects or restore normal psychological functioning
- For instance, in 2017, Project Juice – a California-based company has launched a new product line of adaptogens-based Lattes that is manufactured by using guarana, holy basil, chaga, and reishi
- In 2019, Organika Health Products Inc., headquartered in the United States has launched various adaptogen-based new products such as CALM, GLOW, MEMORY, MOOD, and BALANCE. CALM products activate the potent immune cells, and reduces anxiety, and improve the digestive system. GLOW is used as a beauty tonic and improves the luster of hair and skin. MEMORY supports brain longevity, improves memory and regenerates the nervous system. MOOD is one of the company products and is prepared by organic roots of Aswagandha; it reduces stress and enhances the energy levels. BALANCE helps in the proper functioning of the adrenal gland.
Target Region for Market
- In terms of value, in 2020, North America accounted for the dominant market share. Europe and Asia Pacific are expected to retain their strong positions in the market during the forecast period.
Adaptogens Market: Players
- Some of the key players operating in the adaptogens market, as profiled in the study, are,
- Nutra Industries Inc
- Organic India
- Xian Yuensun Biological Technology Co. Ltd
- MB-Holding GmbH & Co. KG
- PLT Health Solutions, Inc.
- Xi’an Greena Biotech Co. Ltd.
- Amax NutraSource, Inc
- NutraCap Labs
- Changsha Organic Herb Inc.
Adaptogens Market - Scope of the Report
Transparency Market Research (TMR) has recently published a market study on the adaptogens market. It provides a detailed assessment of key market dynamics, including the drivers, trends, opportunities & restraints, and detailed information about the adaptogens market structure. The market study presents exclusive information about how the adaptogens market will grow during the forecast period of 2020-2030.
Key indicators of market growth, which include year-on-year (Y-o-Y) growth of the market, value chain, supply chain analysis, and compounded annual growth rate (CAGR) are elaborated in the study in a comprehensive manner. This information is intended to help readers understand the quantitative growth prospects of the adaptogens market during the forecast period.
The study is intended to offer a holistic market overview to stakeholders in the adaptogens, including manufacturers, suppliers, distributors, and investors, and to help them develop winning growth strategies. Stakeholders in the adaptogens market, which include investors, industry experts, researchers, and journalists, and business researchers, can leverage the information and data presented in TMR’s study.
The study also includes statistics and facts related to the macro as well as microeconomic factors that are impacting expansion of the market. It also offers actionable insights into the future trends in the adaptogens market. Furthermore, small businesses and new entrants in the adaptogens market can make use of the information presented in this study, based on which, they can make appropriate business decisions in order to gain momentum in the market.
Key Questions Answered in TMR’s Adaptogens Market Report
- Which region will continue to remain the most profitable regional market for adaptogens market players?
- Which factors will induce a change in the demand for adaptogens during the assessment period?
- How will the changing trends impact the adaptogens market?
- How can market players capitalize on the low-hanging opportunities in the adaptogens market in developed regions?
- Which companies are leading the adaptogens market?
- What are the winning strategies of stakeholders in the adaptogens market to catapult their position in the forefront?
Adaptogens Market: Research Methodology
In TMR’s study, a unique research methodology is used to conduct extensive research on the growth of the adaptogens market and identify future growth parameters. This research methodology is a combination of primary and secondary research, to help analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts for compiling the adaptogens market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, who contributed to the development of this report as a primary resource.
Information acquired from primary resources and secondary resources is compiled in a comprehensive manner. This also acts as a validation from companies in the adaptogens market, which makes TMR’s projections more accurate and reliable.
Adaptogens Market – Segmentation
TMR’s study on the adaptogens market offers information divided into important segments - nature, source, end use, sales channel, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.