As a result of the expanding prevalence of insomnia, the relaxation beverages market is anticipated to reach a value of US $1519.71 million by the year 2030, expanding at a CAGR of 14.1% during the forecast period of 2024 to 2032. North America is the market leader for relaxation drinks, globally. The existence of major relaxation drink makers and an increasing preference among consumers for items that give relaxation are contributing to the overall expansion of the market. The application market is dominated by Insomnia, which owns the highest share. The most important factor contributing to the rising demand for relaxation drinks across the world is sleeplessness. As per statistics, for instance, around one-quarter of all Americans suffer from insomnia on an annual basis and thus driving the market for relaxation drinks. The market for relaxation drinks is also growing as a result of the growing popularity among adolescents of beverages that can boost mood and alleviate stress. These beverages are in high demand. Globally, the majority of all consumers of beverages have expressed an interest in beverages that alleviate stress.
The sedative properties of relaxation drinks contribute to the expansion of the industry
The rising levels of stress experienced by the urban population are one of the primary contributors to the global increase in demand for relaxation beverages. According to one report, the Global State of Emotions Report, almost one-third of the world's population experiences chronic pain on a regular basis. In addition, it is estimated that 55% of people living in the United States experience regular feelings of stress. Greece is one of those countries where people are said to have the highest level of stress. In addition, research conducted by Health Focus International in 32 nations indicates that stress has become a serious health risk that affects individuals who have difficulties sleeping. During the time of the forecast, the expansion of the market will be driven by an increase in the pressure placed on consumers and their penetration of colored beverages.
A change in the way people live their lives, in addition to an increased awareness of the product
The popularity of relaxation beverages started to skyrocket for a number of different reasons, including the fact that the drinks are sold for the purpose of lowering feelings of tension and anxiety. As a direct consequence of this, both sleep and focus are enhanced. The hectic and stressful lifestyles of customers contribute to the expansion of the relaxation drinks market. As a result, relaxation drinks are becoming increasingly popular in the world. In addition, producers are always releasing brand-new, significantly upgraded products into the market.
Price concerns
The price point at which these beverages are sold is one factor that is anticipated to be a factor that will limit the expansion of the relaxation beverage sector. The majority of the beverages are typically sold at prices that are significantly higher than those of alcoholic beverages such as beer. This is mostly because of the large number of elements that are found in relaxation beverages, and the price differential is anticipated to be a factor that will hinder the expansion of the market. In spite of this, it is anticipated that the expansion of the market for relaxation beverages will be hampered by the greater price of green tea in comparison to black tea.
Vitamin Drinks Segment Dominated the Product Market
Relaxation beverages typically contain a mix of botanicals and amino acids in their composition. The stressed modern lifestyles of today require the consumption of foods and beverages that are capable of regulating mood, providing health benefits, and enabling relaxation in order to maintain proper metabolic function and enhance focus and stability. In 2023, the vitamin drinks segment dominated the market. This segment is anticipated to contribute over 50% of the market's revenue by 2031. During the period between 2023 and 2031, the tea drink segment is anticipated to grow at the highest CAGR of 15.7%. It is anticipated that aggressive marketing of tea relaxation drinks would enhance consumer awareness thereby increasing consumption during the forecast period.
Insomnia Dominates the Application Market
The market for relaxation beverages is expected to expand as a result of the growing need for beverages that are effective in alleviating stress and encouraging sleep, as well as the rising demand among consumers worldwide for relaxation beverages. In addition, a rising incidence of insomnia as a consequence of jet lag, shifting nocturnal shifts, or dealing with any other disruptions to the body's circadian cycle is supporting the rise of the relaxation beverages market over the forecasted years. These trends are contributing to the dominance of the insomnia segment. This segment is expected to grow at a CAGR of 13.5% during the forecast period of 2024 to 2032. However, the “others” segment is expected to register the highest CAGR of 15% during the forecast period due to the additional benefit positioning of relaxation drinks. Additional health benefit positioning is expected to attract the interest of customers seeking healthy lifestyle choices.
North America Remains as the Global Leader
North America remains the dominant region in 2023. Consumption trends in North America show that Americans are willing to try new things and relaxation beverages are quite under the target. However, increased awareness of the importance of maintaining a healthy lifestyle has prompted many individuals to opt for beverages such as juices and water, which they believe to be less harmful to their bodies. Many of these beverages make the claim that they can improve one's energy level, metabolism, and ability to relax. Due to increased disposable income relaxation drink market is expected to witness growth in North America. According to the projection for the market for relaxation beverages, it is anticipated that the Asia-Pacific region would participate in the market at a much higher level over the course of the next few years. The growth of the regional market can be attributed to the increasing demand for products that alleviate stress and promote sleep, as well as the desire for beverages that are good for you. In addition, alterations in lifestyles, shifts in the workforce, and the existence of a sizable group of millennial customers in the state who have significant purchasing power are all factors that are driving the regional market. It is anticipated that the presence of a sizeable millennial population will contribute positively to the expansion of the industry in this region.
Competition to Intensify During the Forecast Period
The global market for relaxation drinks is characterized by intense competition due to the presence of a large number of beverage companies that are actively operating in the industry. As the entry barriers to the market are comparatively low, the market is easily accessible to new players as well as beverage giants that are already ruling the market in various beverage specialty areas. This enables the giant companies to leverage the existing supply chain and partnership capabilities to excel in the relaxation drinks market. A number of participants are focusing on product distribution as the primary strategy. There is no significant difference between top company strategies and industry strategies. However, half of these press releases are from the top company, New Age Inc. Other companies that adopt product distribution as their primary strategy include Innoviom, Delivra Health Brands, Phi Drinks, Inc., and Som Sleep. The secondary strategy adopted by the market players includes product launches. There is a significant difference between product distribution strategy and product launch. Boisson Slow Cow, Inc. tops the list of companies that adopt product launches as a primary strategy. Other companies that focused on product launches include Bimble Beverages, Delivra Health Brands, Innoviom, NewAge, Inc, and Som Sleep.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Relaxation Drinks market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Application
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
