The global adaptogens market is expected to showcase steady growth by 2027 due to increasing consumer preferences for dietary supplements around the world.
Demand for dietary supplements has spiked worldwide amidst the ongoing COVID-19 pandemic. Rising awareness among the general public regarding the health benefits of natural ingredients and several health supplements has boosted product adoption. Moreover, a favorable shift in consumer perception towards adopting a healthier lifestyle has augmented industry expansion in recent years.
Furthermore, to capitalize on emerging trends in the market, industry players have been employing lucrative strategies, which has favorably impacted overall business outlook. For instance, in December 2021, PLT Health Solutions, Inc., a leading developer and marketer of high-quality ingredient solutions for natural products, inked a partnership agreement with Vitamin Angels, a non-profit organization, to aid its mission to provide nutritional support to more than one million at-risk women and children by 2030.
The global adaptogens market has been segregated on the basis of distribution channel, source, application, end-use, and region. In terms of source, the market has been divided into adaptogenic mushrooms, ashwagandha, Schisandra, ginseng, Rhodiola Rosea, astragalus, holy basil, and others.
The astragalus segment is slated to attain a notable valuation by the end of 2027, progressing at a CAGR of around 6% over the study timeline. The Schisandra segment is set to develop at approximately 6.5% CAGR through the forecast period to attain a sizable market share by 2027. The adaptogenic mushrooms segment is speculated to witness sturdy growth at about 8.5% CAGR over the analysis timeframe. The others segment is foreseen to expand at a CAGR of over 7% through the assessment timeline.
From the end-user perspective, the global adaptogens market has been segregated into teas & beverages, powder, capsules, and others. The others segment is estimated to grow at a CAGR of above 6% over the review period to garner a considerable revenue by the end of 2027.
With respect to distribution channel, the market has been classified into online and offline. Under offline, the market has further been bifurcated into grocery & convenience store, supermarket/hypermarket, and drugstore. The global adaptogens market from the supermarket/hypermarket segment is likely to exhibit robust expansion by 2027, registering a CAGR of more than 7% through the forecast period. The grocery & convenience store segment is poised to rise at a considerable pace of around 6.5% CAGR through the projected timeframe.
On the regional front, the Latin America adaptogens market is anticipated to gain substantial traction by 2027, developing at over 6.5% CAGR through the estimated timeline. Meanwhile, the Middle East & Africa adaptogens market is likely to amass sizable gains by 2027, growing at nearly 5.5% CAGR over the stipulated period.