The global health and nutrition market is one of the most robust market sectors, but is always developing in unexpected directions. The market is estimated to be worth billions, potentially even hundreds of billions. It includes all manner of dietary supplements, health products and wholesome foods, but there is always room for new ideas – or old ones.
The up and coming trend is the adoption of adaptogens, ancient plants used by cultures across the globe which are finally reaching modern markets. Rritual is on the cutting edge of the novel field, bringing adaptogen mushrooms to the daily routine of health and nutrition conscious consumers, positioning the company perfectly for a breakthrough event.
In a moment of crisis, as the long term effects of the Covid pandemic are emerging, we are only adding to the stress and anxiety of modern life. Covid-19’s full health impacts are only beginning to be understood, but it seems clear that it will take a heavy toll on our minds as well as our bodies. Customers need something to help tackle more than just the immediate medical concerns: nootropics, and adaptogens in particular, could play a key role.
But what exactly are adaptogens?
The dictionary defines adaptogens as “a plant extract that is held to increase the body’s ability to resist the damaging effects of stress and promote or restore normal physiological functioning.” They offer a contrast to many health and nutrition crazes which promise to boost or overcome the body’s capacities.
Adaptogens aim to restore balance and help the body ‘adapt’, enhancing our own natural potential to fight off stressors. They represent the leading edge of science and tradition in a growing market as consumers experience the benefits for themselves.
Adaptogens are a budding market within a rich and growing field
Health and nutrition spending have been on the rise for the past half century, growing with consumer’s income and health consciousness. From nutritional supplements to healthier options on existing foods, companies have been profiting by bringing increasingly conscious consumers what they need. As definitions of the industry are vague, exact estimates of it’s value differ, but many put it well over 120 billion USD with estimated growth of 6-7%.
On the other hand the complementary and alternative medicine market is growing much more quickly, and has great untapped potential. It is valued at just under 70 billion USD but has growth predicted closer to 19% each year. Functional medicine, the desire to ‘keep’ the body well and treat underlying causes rather than symptoms, is a large part of this growing field.
Adaptogens have a foot in both. The strength of the nutrition market and growth of the functional medicine field help explain why the demand for these mushrooms is booming. And why companies like Rritual will be blooming.
Adaptogens have started to hit store shelves and consumer’s radar only recently, but their impact is large, and growing. They have received global attention in leading publications like the NYT and record growth in product values. Suppliers report seeing ‘double, sometimes even triple, digit growth’ as companies struggle to get their hands on the valuable and rare commodities.
The adaptogen market has substantial room for growth
Adaptogens offer a way to help the body combat stress, helping to restore mental fitness and physical wellness. However, they have not yet reached their market potential as options for consumption are still somewhat limited. So far the adaptogen market has focused on roots like Ginseng, which have greater name recognition. Successes have been seen in smoothie bars and cafes who sell products with them directly to consumers in privileged areas, but don’t reach the masses. Other companies such as Moon Juice have poured recent efforts into health adjacent products like skin-care.
Mushroom adaptogens in particular have room for commercial growth. The only other company ‘specializing’ in mushroom adaptogen products is Four Sigmatic. But they primarily offer (very expensive) pre-brewed coffees or coffee mixes, adding additional cost to consumers while giving them very little control over flavor or dosage.
Furthermore, research shows that for adaptogens to be effective, they must be taken regularly. Buying the occasional smoothie or coffee because it has an adaptogen in it may sound appealing (and be good marketing) but it isn’t enough. Like vitamins, to really capture the functional, mental, and physical benefits of adaptogens, consumers need them to be part of their routine.
The major stumbling block for companies when marketing adaptogens is consumer awareness. An article from just last month (aptly titled the ‘Age of Adaptogens’) points out that only about 4% of consumers are aware of adaptogens. Yet among those who are, consumption is high. This means that getting the right message out will be key, and this is where Rritual steps in.
Making mushrooms part of your daily ritual
This is where Rritual has the answer. Instead of trying to get you into their shop door, or to buy their pre-mixed coffees, they are selling the essential adaptogen blends directly. These will be available both directly to consumers online (DTC) and in health or grocery store chains across the continent. All you have to do then is add a spoonful or packet to your daily coffee/tea.
They could not have picked a better time to launch these products. Stress levels are high and consumers are particularly concerned about mental fitness and holistic wellness. Rritual is also aiming for the growing functional health trend: taking care of the body’s needs and not just treating symptoms when they emerge. Their products are designed to bolster the body’s ability to maintain homeostasis, but also the mind’s willingness and ability to manage stress.
Their organic and all natural ingredients are exactly what trend setting consumers and influencers require. Yet they offer products which everyone can benefit from. With products supporting cognitive function (the industry terminology labels these nootropics), stress relief or boosting the immune system they can help anyone facing the trials of modern society.
The versatility of adaptogens, and the sheer variety available, offer even more opportunities for supporting our health. Rritual is constantly innovating its product offerings, and has hinted that they are updating their selection to include new designs or blends. With the pandemic at the forefront of everyone’s minds products that support endurance and the respiratory system are highly anticipated additions, as well as more versatile offerings such as skincare and vision.
The potential for investment is as massive as their possible market impact. Bolstered by consumers turning towards adaptogens they are well positioned to become the default against which the rest are measured.
The future is functional fungi
Mushrooms are an underexploited superfood, whose market is already growing. Adaptogens are a key component of ancient medicine whose wisdom is only beginning to hit modern shelves. Health conscious consumers are increasingly interested in functional solutions that tackle holistic wellness to help them maintain a healthy lifestyle.
This is their moment. A health product like no other for which there is opportunity, demand, and a gap in what the market already provides. A wave is on the horizon, and when it hits, we can expect to see Rritual, and companies like it, surging ahead.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
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