Global Brain Health Supplements Market Insights Forecasts to 2032
- The Global Brain Health Supplements Market Size was valued at USD 8.94 Billion in 2022.
- The Market is growing at a CAGR of 10.2% from 2022 to 2032.
- The Worldwide Brain Health Supplements Market is expected to reach USD 23.76 Billion by 2032.
- Asia Pacific is expected to grow the fastest during the forecast period.
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The Global Brain health supplements Market Size is expected to grow from USD 8.94 Billion in 2022 to USD 23.76 billion by 2032, at a CAGR of 10.2% during the forecast period 2022-2032.
Brain supplements are natural dietary supplements that enhance cognitive abilities and brain health. Brain supplements have been shown to boost memory, concentration, focus, energy, mood, motivation, and long-term brain health. Natural ingredients are utilized to make nootropics, which improve cognitive performance and may even improve a person's long-term general brain health. Brain health supplements are organic compounds that have positive effects on the brain. These supplements are herbal extracts available in capsules, tablets, and powders that help healthy people increase their memory, creativity, concentration, motivation, and alertness.
Leading market companies are extensively investing in research and development in order to extend their product lines, which will assist in the growth of brain health supplements. Brain health supplements have acquired immense popularity as antidepressants among consumers worldwide, which is projected to boost market growth throughout the forecast period. Product launches and other developments by major market participants are expanding, creating various new growth prospects. Reckitt Benckiser Group plc, for instance, announced a clinically approved brain health supplement called 'Neuriva' in the United States market in February 2019. This supplement for brain health is based on a proprietary coffee bean extract. Furthermore, the company has developed a mobile app to enhance the brain health supplement with customized brain training programs.
Global Brain Health Supplements Market Report Coverage
|Market Size in 2022:||USD 8.94 Billion|
|Forecast Period 2022-2032 CAGR:||10.2%|
|2032 Value Projection:||USD 23.76 Billion|
|Historical Data for:||2019-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||120|
|Segments covered:||COVID-19 Impact Analysis, By Product, By Application, By Distribution Channel, By Region|
|Companies Covered:||HVMN Inc., Natural Factor Nutritional Products Ltd, Accelerated Intelligence Inc., AlternaScript LLC, Onnit Labs, LLC, Quincy Bioscience, Aurobindo Pharma Limited, KeyView Labs, Inc., Liquid Health, Inc, Purelife Bioscience Co., Ltd, and Other key vendors|
|Pitfalls & Challenges:||COVID-19 Empact,Challenges, Future, Growth, & Analysis|
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The brain health supplement sector has provided some of the most significant benefits to medicine in recent years. Major companies in the brain health supplement market are aiming to boost market demand by investing in R&D operations. Manufacturing locally to reduce operational costs is a key business strategy utilized by manufacturers in the worldwide Brain health supplements industry to serve clients and expand the market sector. Other cognitive and age-related diseases, such as hyperactivity and Parkinson's disease, are treated using brain health supplement items. Growing concern for mental health wellbeing and cognitive development is projected to drive the brain health supplements industry forward. Product safety, brand identity, and nutritional value are all elements that influence customer global market demand. Increasing awareness about the benefits of mental health supplements via many types of media, including electronic and print, is also likely to influence market growth. The essential elements in brain health supplements include docosahexaenoic acid (DHA), vinpocetine, bacopa monnieri, vitamin D, vitamin B12, antioxidants, and others.
Lack of limitations on supplement production and misleading claims about product performance are crucial factors reducing the growth of the brain health supplements market during the forecast period. Manufacturing firms might debut their products without regulatory approval, which can result in misleading or fraudulent claims and undermine consumer faith in such products.
If taken for an extended period of time, brain health supplements might also cause adverse effects. As a result, health experts and medical specialists advise taking the specified supplements for a set period of time. These may also cause negative effects if combined with other medications. Taking vitamin K supplements, for example, can reduce the efficiency of blood thinners used to treat cardiovascular disease. All of these reasons may impede market expansion.
COVID-19 Impact Analysis
The COVID-19 pandemic has had positive effects on the expansion of the brain health supplement business. The increased demand for such products is mostly owing to a decline in mental and emotional health. As a result, people are increasingly willing to spend money on brain supplement goods, owing to the uncertainties surrounding the growing number of COVID-19 cases globally.
By Product Insight
The vitamins & minerals segment is dominating the largest share of the Brain health supplements market during the forecast period.
On the basis of product, the brain health supplements market is classified into herbal extract, vitamins and minerals, and natural molecules. Among these, the vitamins & minerals segment is anticipated to grow during the forecast period. Vitamins and minerals are essential in preventing age-related cognitive decline and developmental disorders such as Alzheimer's and dementia. The rising popularity of herbal products in developing countries such as China and India would boost demand for herbal extract brain health supplement items. According to a World Health Organization projection, almost 80% of the global population relies on traditional medicine for primary health concerns.
By Application Insight
The memory enhancement segment is accounted to hold the highest share of the Brain health supplements market during the forecast period.
On the basis of application, the brain health supplements market is sub-segmented into memory enhancement, mood & depression, attention & focus, longevity & anti-aging, sleep & recovery, anxiety and others. Among these, the memory enhancement segment is anticipated for the largest market share during the forecast period due to prevalence of degenerative disorders in the elderly. Rising academic competition has boosted student demand for memory enhancers and brain health supplement. The growing popularity of natural and herbal extract supplements is likely to create opportunities for major stakeholders in the next years.
By Distribution Channel Insight
The drug stores segment is expected to dominate the Brain health supplements market during the forecast period.
On the basis of the distribution channel, the brain health supplements market is segmented into supermarkets & hypermarkets, drug stores, and online stores. Among these, the drug stores segment is anticipated to dominate the market over the forecast period, due to availability of brain supplements in drug stores. For instance, the launch of two brain supplements, Boost and Calm, was announced by Neuratech, an Australian health start-up. A focus and energy nootropic is called Boost, while a stress and sleep nootropic is called Calm. However, due to an increase in the number of internet users and technological advancements in the healthcare sectors, the online stores segment is projected to grow significantly throughout the projection period.
By Region Insight
North America dominates the brain health supplements market with the largest market share throughout the forecast period.
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North America holds the largest market share over the forecast period. The demand for products in North America that improve cognitive health has grown substantially in recent years. Because of growing worries about their cognitive and mental health, individuals over the age of 50 regularly use substantial amounts of brain health supplements. In addition, the North American region's brain health supplement market in the United States had the biggest market share, while the market in Canada had the fastest rate of expansion.
The Asia Pacific brain health supplements market is expected to grow fastest during the forecast period. The market for brain supplements has experienced exceptional penetration in the Asia Pacific region, particularly in China, India, and Japan. This is due to rising consumer awareness of the benefits of these supplements, a rise in consumer preferences for natural supplements over pharmaceuticals, and an increase in the incidence of Alzheimer's disease.
List of Key Market Players
- HVMN Inc.
- Natural Factor Nutritional Products Ltd
- Accelerated Intelligence Inc.
- AlternaScript LLC
- Onnit Labs, LLC
- Quincy Bioscience
- Aurobindo Pharma Limited
- KeyView Labs, Inc.
- Liquid Health, Inc
- Purelife Bioscience Co., Ltd
Key Market Developments
- On May 2023, Brain Fuel, a gummy supplement designed to assist short-term memory, focus, and concentration in adults, has been launched by a firm that creates items designed to enhance and empower personal wellness. Cognigrape, a clinically researched red grape extract for cognitive assistance, is the essential element in Brain Fuel.
- On April 2021, Thorne, a company that creates solutions for a more personalized approach to health and wellness, announced a strategic partnership with PreCon Health, Inc., a company that focuses on scientific discovery, innovation, and the advancement of safe and effective products that support healthy brain function, to bring to market a multi-ingredient dietary supplement formulated to support pre- and post-impact brain health.
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the Brain health supplements market based on the below-mentioned segments:
Brain Health Supplements Market, Product Analysis
- Herbal Extract
- Vitamins & Minerals
- Natural Molecules
Brain Health Supplements Market, Application Analysis
- Memory Enhancement
- Mood & Depression
- Attention & Focus
- Longevity & Anti-Aging
- Sleep & Recovery
- Stress and Anxiety
Brain Health Supplements Market, Distribution Channel Analysis
- Supermarkets & Hypermarkets
- Drug Stores
- Online stores
Brain Health Supplements Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Rest of Middle East & Africa
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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