Global Brain Health Supplement Market by distribution channel
The Global Brain Health Supplement market is segmented by Distribution Channel into Supermarkets & Hypermarkets, Drug Stores, Online Stores and Others. Drug stores dominated the market in 2022, owing to the rise in number of governments authorize drug stores in USA. They are likely to continue dominance during the forecast period, however Online Stores channel is gaining prominence.
Global Brain Health Supplement Market by geography
The Global Brain Health Supplement market is segmented by geography into North America, Europe, Asia- pacific and LAMEA. North America accounted for the largest market share among all regions in 2022, owing to the demand for such products rising as a result of people’s increased attention to mental health issues.
Most of this is attributed to expanding concerns regarding cognitive and brain health as well as the existence of important players in the region. In addition, given many activities need intense concentration, the thriving sports, and fitness sector is to blame for the region’s leading market share. According to data from the National Library of Medicine, USA published in April 2020, about a quarter of American adults (24 and older) regularly take nutritional supplements that boost their energy, mental clarity, and performance. Such development is likely to accelerate the country’s market expansion.
Competition Scenario in Global Brain Health Supplement Market
The Global Brain Health Supplements Market is highly competitive with ~150 players which include globally diversified players, regional players as well as a large number of country-niche players each with their niche in Brain Health Supplements. Large global players constitute ~25% of competitors, while regional players represent the largest number of competitors. Some of the major players in the market include Accelerated Intelligence Inc., AlternaScript LLC.
Aurobindo Pharma Limited, HVMN Inc., Procera Health / KeyView Labs, Inc., Liquid Health, Inc, Natural Factors Nutritional Products Ltd., Onnit Labs, LLC. Purelife Bioscience Co, Ltd, Quincy Bioscience, LLC., and others.
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What is the Expected Future Outlook for the Overall Global Brain Health Supplement Market Across the globe?
The Global Brain Health Supplement market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2028F, witnessing a CAGR of ~% during the forecast period 2022-2028F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future. The Global Brain Health Supplement market is driven by rise in R&D activity in herbal ingredients. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.
With the increasing collaboration and emergence of new products, the Global Brain Health Supplement market is changing rapidly. For instance, In June 2021, Motiva Supplements introduced “Neuro Booster,” the first-ever clinically validated supplement to aid Alzheimer’s sufferers and boost brain health. It promotes increased absorption of six essential functional foods. Elysium Health Inc. and the University of Oxford collaborated to produce the Longevity supplement for brain health in June 2020. The “Matter” product contains a formulation of particular B vitamins that have been shown in clinical studies to delay brain atrophy related to age-related memory loss. In order to maximize the effectiveness of the B-vitamin complex, it also contains a powdered omega-3 lysine complex with higher bioavailability, along with an anthocyanin-rich bilberry extract that offers additional cognitive benefits.
The Global Brain Health Supplements Market is anticipated to grow significantly during the projected period (2022-2028) due to the widespread recognition and acceptance of supplements. Furthermore, consumers have shifted toward actively managing their health and welfare and have dedicated themselves to improving brain health and general endurance to boost attention and focus. Though the market is highly competitive with ~150 participants, few regional players control the dominant share and country- niche players also hold a significant share. The market size is estimated to be ~US$ 8 billion in 2022 and is expected to reach a market size of ~US$ 15 billion by 2028 growing with a CAGR of ~10% during 2022 to 2028.
Market Taxonomy
By Product
- Herbal Extract
- Vitamins & Minerals
- Natural Molecules
By Supplement Form
- Tablets
- Capsules
- Others
By Application
- Memory Enhancement
- Attention & Focus
- Mood & Depression
- Sleep & Recovery
- Longevity & Anti-Aging
- Stress & Anxiety
By Age Group
- Children
- Adults
- Elderly
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By Distribution Channel
- Supermarkets & Hypermarkets
- Drug Stores
- Online Stores
- Others
By Geography
- North America
- USA
- Canada
- Mexico
- Europe
- France
- Italy
- Germany
- Spain
- UK
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia Rest of Asia Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Players
- Accelerated Intelligence Inc.
- AlternaScript LLC
- Aurobindo Pharma Limited
- HVMN Inc.
- Procera Health / KeyView Labs, Inc.
- Liquid Health, Inc
- Natural Factors Nutritional Products Ltd.
- Onnit Labs, LLC.
- Purelife Bioscience Co, Ltd
- Quincy Bioscience, LLC.
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