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Rhodiola Rosea Supplements Market by Form (Capsule, Powder)
Newly-released Rhodiola Rosea Supplements analysis report by Persistence Market Research reveals that global sales of Rhodiola Rosea Supplements in 2022 were held at US$ 14.1 Billion. With a 9% projected CAGR from 2023 to 2033, the market is expected to reach a US$ 38 Billion valuation by the end of the forecast period. Rhodiola Rosea Supplements in powder form are expected to be the significant revenue-generating type and is projected to grow at a CAGR of over 8.9% from 2023 to 2033.
|Rhodiola Rosea Supplements Market (2023)||US$ 16 Billion|
|Rhodiola Rosea Supplements Market (2033)||US$ 38 Billion|
|Rhodiola Rosea Supplements CAGR (2018 to 2022)||12.5%|
|United States Rhodiola Rosea Supplements CAGR (2023 to 2033)||7.9%|
|Key Companies Covered||
As per the Rhodiola Rosea Supplements Research by Persistence Market Research - a market research and competitive intelligence provider, historically, from 2018 to 2022, the value of Rhodiola Rosea Supplements increased by around 12.5% CAGR. With an absolute dollar opportunity of US$ 22 Billion during the forecast period, the market is projected to reach a US$ 38 Billion valuation by 2033.
Mental disorders such as depression and anxiety are on a rise all around the world. According to WHO, around 264 million adults around the world are currently suffering from depression, which is the leading cause of disability in the world. The rise in depression and other mental disorders can be attributed to various factors such as genetic predisposition to depression as well as a person experiencing a traumatic event in their life.
There is also an interrelation between physical health and mental health as a person suffering from an illness such as cancer can be diagnosed with depression. Depression will be the significant cause of ill health around the world by 2030 according to the World Health Organization.
Rhodiola Rosea is classified as an adaptogen by researchers. They are plants like mushrooms that can make the body less prone to emotional and mental stress. Research has also shown that it can stimulate serotonin and dopamine activity within the brain, which can be beneficial for the healthy emotional and neurological functioning of the brain. It can also be used for escalating physical endurance and help in preventing high-altitude sickness. It is also known to improve physical endurance, keep blood pressure in check, and is also know to protect the liver against liver damage.
The market for Rhodiola Rosea Supplements is projected to expand during the assessment period as more consumers have become aware of the importance of mental health. Moreover, the rise in health consciousness among consumers and a need for a natural supplement to enhance their physical endurance and mental capacity has led to the expansion of the Rhodiola Rosea Supplements market.
The market in Europe held a market size of US$ 5.6 Billion in 2022. It is projected that the region will have a market worth US$ 15.2 Billion by 2033. The market is projected to grow at a CAGR of 9% from 2023 to 2033.
According to Eurostat, around 7% of the total population of Europe is currently suffering from chronic depression. Depression accounts for about 50% of chronic sick leaves in the European Union. There are many factors contributing to the rise of mental illness in the region such as recent trauma as well as underlying chronic illnesses.
People in the region are seeking natural supplements such as Rhodiola Rosea as the drugs currently available in the market have significant side effects on the body. Due to the rise in the prevalence of depression and hypertension in the region and the need for natural supplements, the market is projected to expand at a rapid pace.
United States Rhodiola Rosea Supplements Market Analysis:
The market in the United States of America is expected to grow to be worth US$ 7.4 Billion with an absolute dollar growth of US$ 4 Billion till 2033. The Rhodiola Rosea Supplements in the United States have grown at a CAGR of 10.9% from 2018 to 2022 and are expected to grow at a CAGR of 7.9%.
Depression is one of the most prominent mental disorders prevalent in the United States. According to the National Institute of Mental Health, around 21 million adults had at least one episode of depression in the year 2020. This accounts for around 8.1% of the Population in the country. The United States is one of the prominent countries with a significant number of depression cases.
According to research, depression in the country has reached epidemic levels in the country. The reason for the spike in the cases of depression in the recent decade is due to growing feelings of helplessness and economic distress among the population. The incidence of depression in the United States has worsened after the Covid-19 pandemic.
With the increase in government spending on mental health programs and people looking for natural supplements like Rhodiola Rosea Supplements over conventional medicines due to their negative side effects, the market for Rhodiola rosea is projected to expand during the assessment period.
United Kingdom Rhodiola Rosea Supplements Market Analysis:
The market in the United Kingdom is expected to grow to be worth US$ 2.8 Billion with an absolute dollar growth of US$ 1.5 Billion between 2023 and 2033. The market in the country has grown at a CAGR of 11.3% from 2018 to 2022 and is expected to grow at a CAGR of 8.2%.
Depression is among the prominent mental illnesses in the United Kingdom It affects around 1 in 6 adults in the United Kingdom. Covid 19 caused a significant surge in the number of people suffering from depression as around 17% of adults in the United Kingdom experienced some form of depression in the summer of 2021 when compared to 10% of adults before the pandemic.
Depression is not only a public health issue that needs to be addressed but the rise in depression in the country is also contributing to a loss in productivity within the country. According to a recent study, 52% of the employees at the workplace in the United Kingdom were reported to be experiencing symptoms of depression.
There is a rise in the popularity of Rhodiola Rosea Supplements in the country due to their ability to manage depression and enhance mental capacity as well as negligible side effects on the body. The market for Rhodiola Rosea Supplements is projected to expand during the assessment period.
India Rhodiola Rosea Supplements Market Analysis:
According to the world health organization around 56 million adults are suffering from depression and around 38 million suffer from some type of anxiety disorder in India. The reason for this high incidence rate is not exactly known but according to researchers financial problems and unemployment remain one of the predominant reasons for the high incidence of depression in the country. Along with depression, around 220 million adults in the country are currently suffering from hypertension in the country.
The high prevalence of hypertension in India can be attributed to an unhealthy diet and lack of physical exercise. With the rise in the need for natural supplements such as rhodiola rosea to prevent depression and hypertension, its demand in the country has increased. Owing to this, the market in India is projected to expand during the assessment period.
Canada Rhodiola Rosea Supplements Market Analysis:
Canada has a high prevalence of hypertension within the country. According to a recent study, about 8 million Canadians currently are suffering from hypertension. The primary causes for the high incidence of hypertension are unhealthy diet, smoking, excessive alcohol, stress, and obesity.
The popularity of natural supplements such as the Rhodiola Rosea is on the rise as people are actively looking for natural alternatives to conventional medicines to keep their blood pressure in check because of their negative side effects on the body. The market of Rhodiola rosea is projected to expand during the assessment period.
France Rhodiola Rosea Supplements Market Analysis:
According to the World Health Organization, a significant number of adults in France is suffering from depression. According to a recent study, around 11% of men and about 15% of women suffer from depression in the country. About 3 million adults were treated with antidepressants and mood regulators in 2019.
The mood regulators and anti-depressants available in the market consist of fluoxetine which can have significant side effects on the human body such as nausea, fatigue, and loss of sleep. Due to the trend towards natural supplements such as Rhodiola rosea on the rise in the country, the market is projected to expand during the assessment period in France.
Which Form of Rhodiola Rosea Supplements is projected to Witness Significant Growth?
Rhodiola Rosea Supplements in powder form is projected to witness significant growth as it has grown at a CAGR of 12 % from 2018 to 2022 and is expected to grow at a CAGR of 8.9% from 2023 to 2033.
Rhodiola Rosea Supplements in the form of powder are very popular among consumers. This is due to the ability to adjust the doses according to a person’s need as well as when it is mixed with water or is consumed in a liquid form it is easier for the body to absorb it. Moreover, it is cheaper than the other forms of supplements.
Which distribution channel of Rhodiola Rosea Supplements is Expected to be Most Lucrative?
The retail sales channel is projected to witness prominent growth as it has grown at a CAGR of 11.5% from 2018 to 2022 and is expected to grow at a CAGR of 8.8% from 2023 to 2033.
Retail sales of Rhodiola rosea are projected to expand significantly during the assessment period due to the rise in the popularity of supplements among the population. Offline sales channel includes retail shops or pharmacies. People prefer to buy supplements from retail stores such as pharmacies because they can check the quality and type of supplement they wish to buy. Buying supplements do not require a prescription. Another reason consumers prefer to buy from retail stores is that they can ask the salesperson questions regarding the product, allowing them to make better decisions.
Players in the market are investing in expanding their production capacity to keep up with the demand as well as investing in research regarding the formulations for the supplement that can provide maximum benefit to the consumer.
The key players in the market include NutraChamps, Now Foods, Nature's Way, Gaia Herbs, BulkSupplements, Jarrow Formulas, Absorb Health, Thorne, Perfect Supplements, Pure Encapsulations, Micro Ingredients
By Sales Channels:
The global market is worth US$ 14.1 Billion in 2022.
The global market is estimated to witness a market size of US$ 16 Billion in 2023.
The valuation of the Rhodiola Rosea Supplements 2033 will be US$ 38 Billion.
The market grew at a CAGR of 12.5% over the last 4 years.
The projected CAGR for Rhodiola Rosea Supplements is 9%.
The retail sales channel of Rhodiola Rosea Supplements will garner a significant value share by 2023.