What is the Size of Global Brain Health Supplement Industry?
Global Brain Health Supplement market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2028F. The Brain Health Supplement Market is largely driven by rise in R&D activity in herbal ingredients. The rise in R&D activity in herbal ingredients is the key driver of the rising demand for brain health supplements worldwide. Organic medicines or supplements have a variety of health advantages. As a result, the market’s expansion is impacted by the rise in the number of significant companies creating brain health supplements.
The market for brain health supplements is predicted to be constrained by factors such as consumer misunderstanding of the product’s availability, the cost of the supplements, and the fact that people in developing nations do not consider them as an absolute necessity. The market for brain health supplements has grown favorably as a result of the COVID-19 pandemic. The deterioration of mental and emotional conditions has resulted in a rise in demand for such products. Due to the uncertainties surrounding the rising number of COVID-19 cases globally, people are constantly becoming more prepared to spend money on brain supplement products.
Global Brain Health Supplement Market by product
The Global Brain Health Supplement market is segmented by Product into Herbal Extract, Vitamins & Minerals and Natural Molecules. Natural Molecules dominated the market in 2022, due acceptance of brain supplements created with natural and organic ingredients as opposed to supplements made with synthetic ingredients.
This market’s expansion is anticipated to be aided by the growing preference for brain supplements manufactured from natural ingredients over synthetic ones. Additionally, businesses are emphasizing the use of natural ingredients in their products. These products’ natural components, such as acetyl-L-carnitine, huperzine-A, and omega-3 fatty acids, aid in enhancing attention and reducing stress, anxiety, and depression.
Global Brain Health Supplement Market by Supplement form
The Global Brain Health Supplement Market is segmented by Supplement Form into Tablets, Capsules and Others. The capsule segment dominated the market during 2022, due to the simplicity of formulation development. Due to the simplicity of formulation development and progress in the pharmaceutical industries to produce safe and efficient supplement forms, the capsules segment dominated the market, and this trend is anticipated to persist during the forecast period.
Global Brain Health Supplement Market by application
The Global Brain Health Supplement market is segmented by Application into Memory Enhancement, Attention & Focus, Mood & Depression, Sleep & Recovery, Longevity & Anti-Aging and Stress & Anxiety.
Memory Enhancement segment accounted for the largest market share in 2022, owing to naturally derived brain health supplements preventing anxiety and memory loss concerns. The millennial generation is engaging in a broad range of activities outside their primary occupation, such as adventure sports, social events, and part-time work, which needs them to be intellectually awake throughout the day. Therefore, it is anticipated that changing consumer habits will increase demand for such products.
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Global Brain Health Supplement Market by age-group
The Global Brain Health Supplement market is segmented by Age-group into Children, Adults and Elderly. Adult’s segment dominated the market during the forecast period due to the rising number of adults who started taking supplements for brain health to maintain normal brain function.
According to U.S. Census Bureau statistics in 2021, there were more than 54 million adults in the country who are 65 years of age or older and accounted for 16.5% of the population of the country. According to the United Nations Population Fund (UNFPA) Asia and the Pacific reported that in 2021 one in four individuals would be older than 60 by 2050. Between 2010 and 2050, the number of senior people (those over 60) in the region will quadruple, growing to around 1.3 billion.
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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