Stress relief Supplements Market is projected to register a CAGR of 6.75%and reach a value of USD 756.6 million by 2028. Stress is a natural biological reaction to the challenges we face every day. It directly affects mental health, so; it is important to de-stress. Self-care practices help to reduce and manage stress levels but, sometimes supplements are required. These supplements provide a targeted nutritional approach to stress relief. For instance, Nature’s Plus Ultra-Stress High Potency B-Complex supplement helps alleviate anxiety and other mental health conditions. Also, ashwagandha reduces stress levels and anxiousness. It also helps in improving sleep cycles and cardiovascular health. However, side effects associated with over consumption can be a restraining factor to the use of stress relief supplements. Butincreasing demand for organic supplements can create great growth opportunitiesfor players operating in the market.
COVID-19 Impact Analysis
The COVID-19 pandemic and the uncertainty about the end of the crisis have caused various general challenges. Stress, grief, anxiety, anger, and frustration, among other mental health conditions,are affecting the population at a far greater level.
With the increasing number of COVID-19 infections globally, restrictions on vehicular movement are increasing. As the global economy struggles with the pandemic situation, its impact on the global trade and supply chain is growing owing to the rapid weakening of global investment flows. The reduced demand for food ingredients and raw materials is creating uncertainty in the transportation industry. Strict containment measures imposed by governments of various countries and preventive measures to control the impact of the outbreak have led to a significant restriction in transportation, driving a knock-on effect globally. This is creating a demand and supply gap, thereby resulting in reduced production of stress relief supplements. This trend is expected to continue owing to the uncertainty in the global market and measures to address the supply/demand imbalance.
The preference for preventive healthcare products is increasing among consumers, which is expected to boost the growth of thestress relief supplements market. Moreover, with increasing awareness and product visibility, consumer demand for stress relief supplements is rising. Various manufacturers are also focusing on increasing awareness among consumers through marketing campaigns. Additionally, various sources of information showing the positive and negative effects of stress relief supplements are helping consumers in decision-making to choose the appropriate form and type of product.Furthermore, increasing stress levels among geriatric and young populations owing to the changing lifestyle have escalated the demand for stress relief supplements,and this trend is expected to continue during the forecast period.
Growing concerns over the increasing prevalence of lifestyle diseases such as obesity, malnutrition, and nutritional deficiencies are also leading to the adoption of healthy lifestyles. Hence, there has been a sharp increase in healthcare costs due to the adoption of new technologies and treatments, overuse of procedures and tests, and lack of transparency and information on prices and quality of medical services. For instance, according to the National Health Expenditure Accounts (NHEA), US healthcare spending grew by 4.6% from 2017 to reach USD 3.6 trillion in 2018, and healthcare spending accounted for 17.7% of the country’s GDP in 2018. According to the UK Office for National Statistics, the total healthcare expenditure in the country increased by 3.6% from 2015 to 2016 to reach USD 213.67 billion. Escalating medical service costs has resulted in consumers adopting healthyalternatives in their daily routines in order to shift from curative healthcare.Thus, increasing awareness and a focus on preventive healthcare are boosting the demand for stress relief supplements globally.
Key players in the global stress relief Supplements Market are required to comply with the rules and regulations set by government bodies. The concerned authorities are responsible for controlling permits, setting regulations for the entry of new players, residualmanagement, and inspection of expiry dates for certain products such as supplements. The US Food and Drug Administration (FDA)is responsible for regulating the manufacture and distribution of functional food and nutraceuticals in the US. In Canada, on the contrary, government control on the manufacture and sale of protein and various supplements is not very stringent, which makes it easier for vendors to launch new products in the country. The presence of varying regulations, laws, and rules in different countries makes it difficult for vendors to adopt standard operating procedures. The concerned authorities place strict regulations on the type of supplements that can be introduced in the market, the numberof ingredients that can be used, and the labeling criteria for various ingredients. Such stringent government regulations may hamper the entry of new players and create obstructions for product innovation in the global stress relief supplements market
Manufacturers of stress relief supplements need to invest heavily in research and development (R&D) for investigative activities to improve existing products and procedures to launch new products. Due to the dynamic food market across the world, manufacturers are inclined toward innovation in their product lines to retain their market shares. For stress relief supplements, high working capital is required for operations. Along with capital investments in setting up the business, manufacturers need to obtain the necessary certifications from governments and other regulatory bodies, which is time-consuming. Market players cannot launch their products in the market without the certifications of the respective regulatory bodies. Hence, the need for significant investments and certifications poses challenges to the vendors in the global stress relief supplements market.
Based on source, the global stress relief Supplements Market has beendivided into ashwagandha, chamomile, lavender, melatonin, rhodiola, L-theanine, and others. The ashwagandhasegment accounted for the largest market share in 2020.Ashwagandha is a very common herb used in ayurvedic medicine. It has adaptogenicproperties,which help in reducing side effects associated with chronic stress by supporting the function of adrenal glands. Adrenal glands are responsible for the production of stress hormones, cortisol, and adrenaline. Consumption of300-500 mg per day of ashwagandhais considered to be safe and helps in stress management.
Based on form, the global stress relief supplements market has been divided into capsules & tablets, oils, powder, others. The capsules & tabletssegment accounted for the largest market share in 2020.Tablets are generally low in price and offer high-potency options. They have a longer shelf life than the other forms. However, capsules are a highly preferred form as they are easier to swallow than tablets, though they have a higher price and lower shelf life than other forms.
Based on category, the global stress relief supplements market has been divided into conventional and organic. The conventionalsegment accounted for the largest market share in 2020.Conventional stress relief supplementsare produced from ingredients grown using conventional farming practices. Conventional growing of ingredientsis opposite to organic growing, which means it is not free from synthetic chemicals such as pesticides, fertilizers, hormones, and antibiotics. Organically grown produce has lower detectable levels of pesticide residue as compared to conventionally grown produce.
By Distribution Channel
Based on distribution channel, the global stress relief supplements market has been segmented into store-based and non-store-based. The store-based segment accounted for the largest market share in 2020.The store-based segment has been segregated into supermarkets and hypermarkets, specialty stores, and others. Supermarkets and hypermarkets are expected to be the largest sub-segment as these channels account for the maximum sale of stress relief supplements. Specialty stores play a significant role in the distribution of stress relief supplements. It is projected to be the fastest-growing sub-segment during the review period. This channel is preferred specifically for the prescribed supplements and small servings such as tablets and capsules.
Global Stress Relief Supplements Market Share, by Region, 2020 (%)
Source: MRFR Analysis
The global stress relief supplements market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America accounted for the largest market share of 36.41% in 2020. Asia-Pacific is expected to register the fastest growth rate from 2021 to 2028.
North America Market
North America accounted for the largest market share in the global stress relief Supplements Market in 2020 and is expected to continue the same position during the forecast period. The consumers in the region are inclining towards preventive healthcare owing to the increasing health consciousness among consumers. The consumption of stress relief supplementsis extremely high in the US, with demand driven by the increasing geriatric population, a focus on preventive healthcare, rising consumer awareness, and sales through online channels. According to the Population Reference Bureau’s Population Bulletin, the number of people aged 65 and above in the US is likely to nearly double from 52 million in 2018 to 95 million by 2060. Thus, the growing elderly population coupled with increased spending on healthcare is likely to drive market growth in North America.
Asia-Pacific is anticipated to be a lucrative region for manufacturers of stress relief supplements. Asia-Pacific is anticipated to grow at thefastest rate during the forecast period. Promotional activities by manufacturers on social media platforms and the expanding organized retail market are also key factors fueling the sale of stress relief supplements, particularly in developing countries. China accounted for the largest market share of the Asia-Pacific stress relief Supplements Market in
2020, while the market in India is projected to register the highest CAGR during the review period.
The market comprises tier-1 players along with some local players with diverse product portfolios. Companies such as ADM (US), PharmaLinea Ltd. (Slovenia), Virtue Vitamins, LLC (US), NaturesPlus (US)dominate the global market due to brand reputation, product differentiation, financial stability, and strong distribution network.The players are focused on lowering their environmental footprint and investing in research and development along with strategic growth initiatives such as product launches, acquisitions, and mergers to strengthen their market position and capture a large customer base.
Prominent players in the global Stress Relief Supplements Market include ADM (US), PharmaLinea Ltd. (Slovenia), Virtue Vitamins, LLC (US), NaturesPlus (US), The Himalaya Drug Company (India), Plant Therapy Essential Oils Corporate (US), Cureveda (India), Naturalife Asia Co., Ltd. (Korea), Ricola (Switzerland), and Nutraceutical International Corporation (US).
Scope of the Report
Global Stress Relief Supplements Market, by Source
Global Stress Relief Supplements Market, by Form
Global Stress Relief Supplements Market, by Category
Global Stress Relief Supplements Market, by Distribution Channel
Global Stress Relief Supplements Market, by Region