Adaptogens Market Expected to Reach $20.3 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Adaptogens Market," The Adaptogens Market Size was valued at $10.3 billion in 2021, and is estimated to reach $20.3 billion by 2031, growing at a CAGR of 7.3% from 2022 to 2031.

Adaptogens are available in various different types, such as ashwagandha, ginseng, astragalus, holy basil, rhodiola rosea, schisandra, adaptogen mushrooms, and others, All these adaptogen herbs and mushrooms have great medicinal properties. These adaptogens can be consumed in different forms such as food & beverage, tea, and dietary & sport supplements. The hectic and stressful lifestyle of customers surges the demand for adaptogen, it helps individual’s body respond to stress, anxiety, fatigue, and overall wellbeing. In addition, adaptogens help to bring body back to a steady balance by managing both physical and mental stress.

Adaptogen herbs such as ashwagandha grows in the desert and rhodiola rosea in the Andes Mountains' highest peaks. Ingredients such as ashwagandha, rhodiola rosea, and holy basil have been linked to a variety of health benefits, including ashwagandha's ability to improve sleep and mental performance. These are easily available to customers in stores as well as online in different forms.

The adaptogen market is segmented into source, end use, application, distribution channel, and region. On the basis of source, the market is classified into ashwagandha, ginseng, astragalus, holy basil, rhodiola rosea, schisandra, adaptogen mushrooms, and others. Among these, the ashwagandha segment occupied the major share of the Adaptogens Market, and is projected to maintain its dominance during the Adaptogens Market Forecast period. The growth of the processed ashwagandha segment is attributed to nutrients and health benefits provided by it. However, the other Adaptogens Market Analysis segment is anticipated to grow in the future.

Depending on end use, the market is fragmented into powder, capsules, tea & beverage, and others. Among these, the conventional occupied the major Adaptogens Market Share, and is projected to maintain its dominance during the forecast period. This is attributed to its numerous benefits such as it is easy to blend with various liquids including milk, water, and coffee.

By application, the market is segregated into food & beverage, dietary & sports supplements, cosmetic, animal feed, and pharmaceutical. The food & beverage segment is anticipated to grow at the highest rate during the forecast period, it is attributed to the growth in preference for healthy eating habits among consumer and these adaptogen can be easily blended into different food & beverages.

As per distribution channel, the market is categorized into supermarkets & hypermarkets, specialty stores, online sales channel, and others. The specialty store channel is expanding at the fastest rate due to the discounts, vast selection, and unique shopping experience it offers.

In 2021, Asia-Pacific accounted for 31.7% in the global adaptogen market and is expected to maintain its dominance during the forecast period. However, North America and Europe are expected to possess the highest CAGRs of 8.0% and 7.7% respectively, owing to rise in health & fitness concerns among people and the increase in the popularity of adaptogens and their health benefits in these regions. With the Adaptogens Market Growth in consumer awareness about the several health benefits of adaptogen, its demand is expected to increase rapidly in Adaptogens Market Trends.

Owing to COVID-19, rise has been witnessed in the demand for healthy and nature- based food products such as adaptogens. The sales of various adaptogens have increased, as they are consumed by health-conscious people to maintain a healthy and stress-free lifestyle. In addition, after the COVID-19 pandemic, people are taking more precaution regarding food intake and prefer including Adaptogens Market Opportunities in their supplements.

The major players analyzed for global Adaptogens Industry are Dabur India Ltd, Emami Limited, kairali ayurvedic group, Himalaya Wellness, Colgate-Palmolive Company, Procter & Gamble, Patanjali Ayurved Limited, Shahnaz Ayurveda Pvt. Ltd., Shree Baidyanath Ayurveda Bhawan Pvt. Ltd, Unilever, ENOMARK BIOTECH (ENOMARK HEALTHCARE), Riaan Wellness Pvt. Ltd., Givaudan International SA (NATUREX S.A.), PLT Health Solutions, and INDENA S.P.A.

Key findings of the study

• On the basis of source, the ashwagandha segment dominated the Adaptogens Marketin the year 2021.
• On the basis of end use, the capsules segment is likely to be the fastest growing segment with a CAGR of 9.6% during the forecast period.
• On the basis of application, dietary and sports supplements segment is likely to be the fastest growing segment with a CAGR of 8.8% during the forecast period.
• On the basis of distribution channels, the business to business is likely to be the fastest growing segment with a CAGR of 7.8% during the forecast period.
• Region wise, Asia-Pacific dominated the global adaptogens market.