World Relaxation Beverage Market size in 2019 is estimated to be $ 390.9 million, growing at a CAGR of 13.2% during the forecast period 2020-2025. Relaxation beverages are nonalcoholic beverages which help reduce stress, anxiety, improve focus, and promote better sleeping owing to presence of more than one active calming ingredient. Increasing demand of healthy beverages and growing chronic diseases are the major factors driving the growth of the market. Moreover, rising disposable income and advancement of R&D activities further enhance the overall market demand for relaxation beverage during the forecast period 2020-2025.
World Relaxation Beverage Market Segment Analysis – By Product Type
Based on the Product Type, Relaxation Beverage Market is segmented into Vitamin Beverage, Tea Drinks, Others. The tea drinks segment is forecast to be the fastest-growing segment and is projected to grow at a CAGR of 13.8% during the forecast period 2020-2025. This is mainly owing to ease of consumption and wide availability. Moreover, it is available in different flavors which are contributing to the growth of this segment.
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World Relaxation Beverage Market Segment Analysis – By Application
Based on the Application, Relaxation Beverage Market is segmented into Insomnia, Anxiety Patients, Others. In 2019, Insomnia held the largest share in the Relaxation Market. Increasing consumption of relaxation beverage helps to reduce sleep disorder which increases the demand among the patients who are suffering from insomnia and are contributing to the growth of this segment.
World Relaxation Beverage Market Segment Analysis – By Geography
North America dominated the Market share accounting for 45% of the market in 2019. This is mainly owing to increasing demand for sleep relieving and sleep promoting products and rising consumption of healthy drinks. According to Sleep Health in America, about 50 million people are suffering from sleep disorders which are contributing the growth of this segment.
However, the Asia Pacific region is projected to be the fastest-growing during the forecast period 2020-2025. This is owing to increasing disposable income and increasing consumption of healthy drinks.
World Relaxation Beverage Market Drivers
Increasing Demand of Healthy Beverage
Increasing demand for stress relieving and sleep-promoting products and preference for healthy beverages are some factors driving the market growth of this segment. Moreover, increasing health benefits owing to consumption of relaxation beverage are increasing the market growth of relaxation beverage.
Growing Chronic Diseases
Growing chronic diseases among adults are some factor driving the growth of the market. Moreover, to tackle rising chronic stress and insomnia, consumers are preferring relaxation beverages over pharmaceutical sleeping aids which are contributing to the growth of Relaxation Beverage Market.
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World Relaxation Beverage Market Challenges
High cost of products are challenging the growth of the market. Moreover, increasing dosage of caffeine causing health problems are further restraining its market growth during the forecast period 2020-2025.
World Relaxation Beverage Industry Outlook
Product launches, Merger & Acquisitions, joint ventures and R&D activities are key strategies adopted by players in the World Relaxation Beverage Market. World Relaxation Beverage top 10 companies are New Age Beverages Corporation, Neuro, iChill Beverages, Inc., Tranquini GmbH, lifeonearthinc, Harvest One, Boisson Slow Cow, Inc., 7.8 Som Friends, Inc., Phi Drinks, Inc., and SEEK PHYSIS, LLC.
On 25th May 2011, iChill Beverages Inc. launches new relaxation shot that helps to relax, reduce stress and sleep better.
In 2019, North America dominates the Relaxation Beverage Market owing to increasing demand for sleep relieving and sleep promoting products and rising consumption of healthy drinks.
Increasing demand of healthy beverages and growing chronic diseases is driving the market growth of relaxation beverage.
Detailed analysis of the Strength, Weaknesses, and opportunities of the prominent players operating in the market will be provided in the Relaxation Beverage Market report.
High cost of products are challenging the growth of the market.
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