Relaxation Beverage Market - Forecast(2023 - 2028)
Relaxation Beverage Market size is forecast to reach $737.4 million by 2026, growing at a CAGR of 13.0% during the forecast period 2021-2026. Relaxation drinks, as the name suggests, are used to combat stress and are usually available in sippable liquid form. The drinks are primarily non-alcoholic beverages and constitutes of ingredients like chamomile, gamma-aminobutyric acid, Melissa officinalis, L-theanine, melatonin, and marijuana, shown to aid in stress relief, a better night’s sleep, and an overall mellower vibe. The millennial and generation Z population tend to be under a lot of stress pertaining to career, finances, and family. Chronic stress is very prevalent in almost all the major economies, which thereby leads to sleeplessness or insomnia. Therefore, millennials hold a strong purchasing power because they prefer relaxation beverages over pharmaceutical sleeping aids, because of the natural ingredients, thereby creating the major driving force of the market. Being non-alcoholic in nature, relaxation beverages aids in improving focus, and promote better sleep owing to the inclusion of multiple active calming ingredients which is set to further enhance the overall market developments of the Relaxation Beverage Market for the period 2021-2026.
Relaxation Beverage Market Report Coverage
The report: “Relaxation Beverage Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Relaxation Beverage Market.
By Product Type: Drinks, Shots, and Mixes
By Application: Insomnia, Anxiety Patients, and Others
By Geography: North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, and Rest of South America), and Rest of the World (Middle East, and Africa)
Key Takeaways
- North America dominated the Relaxation Beverage Market in 2020 owing to the presence of a large number of millennials. The Relaxation Beverage Market scope for different regions will be provided in the final report.
- Growing awareness and demand for relaxation beverages coupled with the rising number of chronic diseases due to anxiety is likely to aid the market growth of the Relaxation Beverage Market report.
- Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be Relaxation Beverage Market report.
- Higher costs of relaxation beverages, when compared to conventional alcoholic beverages, is poised to create the hurdles for the Relaxation Beverage Market.
- Schedule a Call
Relaxation Beverage Market Challenges
Higher costs of relaxation beverages are likely to challenge the market growth
Some of the factors that are set to impede the growth of the Relaxation Beverage Market are the price point at which relaxation drinks are available. Most of the drinks in the U.S. starts from around $35 and more which is often expensive than alcoholic beverages like beer. This is mainly because of the number of constituents present in relaxation beverages and this price gap is expected to challenge the market growth.
Relaxation Beverage Market Landscape
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Relaxation Beverage Market. In 2020, the Relaxation Beverage Market share is fragmented by the top ten players present in the market. The Relaxation Beverage Market, top 10 companies are:
- New Age Beverages Corporation
- Innoviom
- iChill Beverages, Inc.
- Tranquini GmbH
- Harvest One
- Boisson Slow Cow, Inc.
- Life On Earth, Inc.
- Som Friends, Inc.
- Phi Drinks, Inc.
- Seek Physis, LLC
Recent Developments:
- In July 2020, New Age Beverages Corporation announced that it is in agreement to acquire ARIIX, along with 4 additional companies in the e-commerce and direct selling channels. The combination will create a global firm with estimated pro forma revenues in excess of USD 500 million across more than 75 countries worldwide.
- In October 2020, Innoviom introduced its natural and hemp-infused relaxation beverages namely Tranquini and Wowie to buyers from major retail chains at ECRM’s Annual Vitamin, Weight Management, Beverage & Sports Nutrition Program.
Comments
Post a Comment