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The Analyst’s Take: Continued explosive growth in mood/stress supplements
While immune health was rightfully the major storyline of health conditions last year, consumers also increasingly turned to supplements to address another key effect of the events of 2020: stress.
Mood and mental health supplement sales blew past the $1 billion benchmark, reaching $1.16 billion. The growth rate of 29.4% is already eye-catching, but what is perhaps more notable is this spike despite the fall of hemp CBD. Hemp CBD for the condition grew 77.2% in 2019, but fell to a 2.6% decline in 2020. The real star driving growth was demand for herbal formulas combining ingredients like Ayurvedic herbs, mushrooms and other botanicals, which more than tripled in size in 2020.
Unlike some other conditions that saw massive growth in 2020 due to the effects of the pandemic and subsequent normalization in 2021, mood and mental health supplements are seeing continued growth this year, rather than a normalization of the market – and strong growth projected through 2024. The mood and stress category has emerged as a more long-term issue than just driven by the pandemic.
In fact, New Hope’s NEXT Data and Insights/NBJ consumer research from this year found that stress is actually a larger issue in younger generations. We asked what concern or condition they take supplements for, and 18.1% of both Gen-Z and millennial respondents indicated stress, followed by 14.4% of Gen-X and just 7.4% of Baby Boomers.
The explosive 29.4% growth from last year only drops to 12.5% in 2021, and growth through 2024 puts the condition on track to reach $1.77 billion by 2024, more than double the size it was in 2019. While increased levels of stress across our society is concerning, what is promising is that consumers are increasingly turning to nutritional solutions to address it.
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| | Claire Morton Reynolds
Claire Morton Reynolds is the Senior Industry Analyst for New Hope Network's Nutrition Business Journal. She manages NBJ's data and insights to inform the industry on market trends and forecasts in natural and organic food and beverage, functional food and beverage, dietary supplements and personal care. |
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| | | Get the 2021 Condition Specific Report |
| | The US Supplement market grew by over $7B in 2020, led by a 72.3% growth in immune health sales in a somewhat predictable move throughout the global pandemic. But while immune health took the spotlight, NBJ's analysis also focuses on which other conditions played supporting roles, such as brain health and mood support, and where we will continue to see growth in 2021, 2022 and beyond.
This report includes 31 company profiles and 158 charts covering 20 conditions. Click the link below to learn more! |
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