U.S. Relaxation Beverages Market Size to Grow at a CAGR of 12.2% During the Forecast Period 2021-2026

U.S. Relaxation Beverages Market Size to Grow at a CAGR of 12.2% During the Forecast Period 2021-2026

U.S. Relaxation Beverages Market
Growing Stress Levels and Shift Work Sleep Disorders are Driving the Growth of U.S. Relaxation Beverages Market.

U.S. Relaxation Beverages Market size is estimated at $250 million in 2020, projected to grow at a CAGR of 12.2% during the forecast period 2021-2026. Relaxations drinks are a blend of various herbs, amino acids, botanicals, vitamin that are traditionally been used individually as calming agents. Relaxation drinks are first attempt to combine these ingredients in a liquid form and then both package and sell these drinks as on-the-go stress solutions. They are clinically proven to relieve stress, anxiety and improve sleep. It consists of ingredients that only exists in nature, these relaxation beverages are mixed with lightly carbonated drinks with specific tastes.
The five most common ingredients are valerian root, theanine, 5-HTP, GABA and melatonin are the five most common ingredients. Each of these has been used in treatment of anxiety, and some are also used to improve sleep. For example, valerian root is a herb used to correct insomnia, it also decreases anxiety and nervousness. Theanine as described is naturally present in black tea that helps to generate calming brain waves to relieve anxiety. GABA is a neurotransmitter that increases peace of mine and finally, melatonin is commonly used to help patients sleep and enhance REM sleep. Growing demand for products that relieve stress and promotes sleep across the country are the factors driving the market. However, relaxation beverages come at a higher price when compared to other beverages and is likely to hamper the market’s growth

U.S. Relaxation Beverages Market Segment Analysis – By Product Type

Based on Product type, U.S. Relaxation Beverages Market is segmented into Relaxation Drinks, Relaxation Mixes and Relaxation Shots. Relaxation Drinks accounts for the largest market share owing its ease of consumption and wide availability. These are also available in various flavours, while other types of products offer very less varieties of flavours however Relaxations mixes is poised to be the fastest-growing segment and is anticipated to grow at 14.6% CAGR as they blend with other consumer-preferred drinks and also these are travel friendly with small packaging size.

U.S. Relaxation Beverages Market Segment Analysis – By Application

Based on Application, U.S. Relaxation Beverages Market is segmented into Insomnia, Anxiety and Others. Insomnia segment accounts for the largest market share owing to the growing chronic Insomnia cases in U.S. while Anxiety segment is anticipated to be the fastest-growing segment owing to the rising number of anxiety disorder cases which is a common mental illness in the U.S. Around 40million adults in the U.S. aged 18 and older or 18.1% of the population are affected by anxiety every year.

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U.S. Relaxation Beverages Market Segment Analysis – By Geography

Based on State, U.S. Relaxation Beverages Market is segmented into New York, California, Texas, Florida, Washington and Rest of U.S. Texas accounts for the largest market share of 27.3% owing to presence of large number of millennials with substantial spending power. New York is set to register the fastest-growing state owing to the high levels if work stress and strong buying power of consumers in the state.

U.S. Relaxation Beverages Market Drivers

Growing Stress Levels

Multiple causes of stress and associated symptoms overwhelming Americans. According to a survey conducted by American Psychological Association stress levels among Gen, Z adults have risen marginally over the last two years, from 5.6 in 2018 and 5.8 in 2020 to 6.1 in 2020. Stress had made them feel drained, growing stress levels coupled with the penetration of consumers towards colourful beverages is driving the market.

Shift work sleep disorders:

The working hours of a person influence the sleeping routine. Shift work sleep disorder induces symptoms of insomnia. According to American Academy of Sleep Medicine, 30% of adults have insomnia and 10% of men and 20% of women are having chronic insomnia disorder that is driving the market for relaxation beverages in the U.S.

U.S. Relaxation Beverages Market Challenges

Costly Product & growing preference for Yoga

The cost of the beverage is the major constraint that hinders the market’s growth. There is also the fact that a wide variety of non-beverage options are also existing to relieve stress. Whereas the growing importance of yoga for stress relief is another factor that hampers the market’s growth.

U.S. Relaxation Beverages Industry Outlook

Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the U.S. Relaxation Beverages Market. In 2020, U.S. Relaxation Beverages Market share is fragmented by the top ten players present in the market. U.S. Relaxation Beverages Market top 10 players are: Neuro, iChill Beverages, Inc, New Age Beverages Corporation, Tranquini GmbH, Harvest One, Lifeonearthinc, Boisson Slow Cow Inc, Phi Drinks Inc, som Friends Inc, SEEK PHYSIS LLC.

Acquisitions/Product launches:

On October 2, 2020 Newage and Arix updates the merger agreement. Newage Inc-amended merger agreement for acquisition of Arix, plans to close the transactions no later than November 30, 2020

Key Takeaways

Based on state Texas Market accounted for the XX% revenue share in 2020 and it is predicted to dominate during the forecast period 2021-2026 owing to the high demand for Relaxation Drinks in this region.

High disposable income spent on luxury products such as relaxation drinks coupled with increasing health awareness, has led to increasing consumption.

The rise in chronic stress among millennials is boosting the demand for relaxation drinks in the U.S.

Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market is provided in the U.S. Relaxation Beverages Market.

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