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Growing awareness and demand for relaxation beverages due to their health benefits are driving the market growth

HYDERABAD, TELANGANA, INDIA, November 4, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that 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. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

Click here to browse the complete report summary:
https://www.industryarc.com/Research/Relaxation-Beverage-Market-Research-513326

Key takeaways:

1. 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.

2. 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.

3. Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be Relaxation Beverage Market report.

4. Higher costs of relaxation beverages, when compared to conventional alcoholic beverages, is poised to create the hurdles for the Relaxation Beverage Market.

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Segmental Analysis:

1. The drinks segment held the largest share in the Relaxation Beverage Market in 2020 and is estimated to grow at a CAGR of 12.6% during the forecast period 2021-2026. This is owing to the wide range of availability and convenient consumption method.

2. However, mixes are often available in powder or syrup form that needs to be further mixed with beverages for resultant consumption. Mixes are available in small packaging sizes which makes them travel-friendly thereby boosting the demand. Mixes segment is estimated to register the higher CAGR over the period 2021-2026.

3. North America dominated the Relaxation Beverage Market with a major share of 43.8% in 2020. This is attributed to the factors like the presence of a large number of millennials in most of the U.S. states like Texas and New York, with a considerable spending capability. The region also faces a considerable amount of migration of millennials from various other economies which is anticipated to augment the product demand in the upcoming years.

4. According to American Psychological Association (APA), in 2020, the majority of adults still say health care (66%), mass shootings (62%) or climate change/global warming (55%) is a significant source of stress. More than half commented the same regarding the rise in suicide rates (51%), immigration (47%), widespread sexual harassment/assault reports in the news (47%) or the opioid/heroin epidemic (45%).

5. Consumers are preferring relaxation beverages over pharmaceutical sleeping aids. According to National Sleep Foundation, 2020 has witnessed around 10-30% of adults in the U.S. suffering from persistent difficulty with sleep onset, maintenance, consolidation, or overall quality, thereby leading to insomnia.

Competitive Landscape:

The top 5 players in the Relaxation Beverage industry are -

1. New Age Beverages Corporation

2. Innoviom

3. iChill Beverages, Inc.

4. Tranquini GmbH

5. Harvest One

Click on the following link to buy the Relaxation Beverage Market Report:
https://www.industryarc.com/reports/request-quote?id=513326

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